Home Automation System Market Overview:
According to IMARC Group latest report titled “Home Automation System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, offers a comprehensive analysis of the industry, which comprises insights on home automation system market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global home automation system market reached a value of US$ 60.2 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 8.7% during 2021-2026.
Home automation, or a smart house system, involves the incorporation of intelligent technology into residences for comfort, safety, and energy conservation. It includes the computerization and control of lighting, security systems, and heating, ventilation, and air conditioning (HVAC). Home automation systems enable homeowners to monitor, manage, and automate various appliances, functions, and systems around the house with the touch of a button. In addition, it also assists in integrated and centralized control of operations, making the lives of users more comfortable and convenient.
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Market Trends:
The escalating demand for these systems across the globe, owing to their various advantages, such as notifying users about intruders and activities at their houses that aid in preventing potential crimes, is among the primary factors driving the home automation market. Besides this, the elevating product requirement in minimizing energy consumption and increasing operational efficiency is further boosting the market growth. Moreover, several technology giants, including Apple, Google, Microsoft, and Samsung, have invested in home automation, as it allows users to monitor their residence from another location using an interface on a computer, tablet, or smartphone, which is also catalyzing the global market.
Apart from this, the growing popularity of these systems among consumers from all income segments, on account of the improving living standards and the extensive availability of affordable solutions, is acting as another significant growth-inducing factor. Furthermore, the integration of the internet of things (IoT) in these systems enables appliances and security systems to be controlled with smart devices, which is anticipated to propel the home automation market over the forecasted period.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Siemens AG
- Honeywell International, Inc.
- Johnson Controls, Inc.
- Schneider Electric SE
- Legrand SA
- Ingersoll-Rand PLC
- ABB Ltd.
- Acuity Brands, Inc.
- Samsung Electronics Co., Ltd.
Home Automation System Market Segmentation:
Our report has categorized the market based on region, application and type.
Breakup by Application:
- Lighting control
- Security and access control
- HVAC control
- Entertainment and other controls
Breakup by Type:
- Luxury (Custom)
- Mainstream
- DIY (Do-It-Yourself)
- Managed
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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