Market Research Future Reports predict the aggregated revenue of global home automation market will reach USD 85 billion during 2018-2023 owing to a growing adoption of ‘Do-It-Yourself’ automated devices in households, globally.
The global Home Automation Market is being benefitted from several favorable factors such as increase in usage of internet of things (IoT) mainly in the developed countries. In recent decades, people are now preferring high and advanced standards of living where they can easily get access to smart devices such as televisions, refrigerators, smartphones, and many other electronics. Besides, there also has been a considerable increase in disposable income among the population, which is encouraging the market of home automation to spur evenly on global level. whereas, developed countries are emerging with luxurious lifestyle which also have escalated the demand for home automation market substantially.
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Some of the key players of Home Automation Market include Honeywell International Inc. (U.S.), Acuity Brands, Inc. (U.S.), Johnson Controls Inc. (U.S.), United Technologies Corporation (U.S.), Crestron Electronics, Inc. (U.S.), Legrand (France), Schneider Electric Se (France), ABB Ltd. (Switzerland), Samsung Electronics Co., Ltd. (South Korea), Siemens Ag (Germany), among others.
Global Home Automation Market Drivers & Trends
In recent decades, there has been rapid adoption of smartphones and gadgets, which are acting as the major drivers in the home automation market. The home automation systems are also empowered with cost reduction measures that has grown the demand for the market in both developed and developing countries. Also, the rising demand for automated and technologically advanced vehicles have served to boost the automotive testing, inspection, and certification market. Hence, these are some of the top grossing factors that are leading the market to spread exponentially across the globe in the positive note.
On the flip side, there are certain restraints being observed in the process of market evaluation that might restrain the global home automation market from proliferating to its full potential. In developed countries, some home automation products have reached the stage of maturity due to which their demand may decrease in coming years. Also, due to lack of compatible infrastructure, the use of home automation gets restricted in certain areas.
However, urbanization and developing favorable environment will help in rising demand for home automation systems in coming years and will flourish the market tremendously.
Global Home Automation Market Segmentation
The trend and outlook of global Home Automation Market forecast is optimistic, balanced, and conservative. According to MRFR, this market has been segmented on the basis of product, protocol & technology, network technology, wireless technology, and software & algorithm.
By the mode of product, this market is segmented into lighting control, climate control, security and access control, HVAC control, entertainment control, energy management control and others.
By the mode of protocol & technology, this market is segmented into network and wireless.
By the mode of network technology, this market is segmented into CDMA, GSM/HSPA, LTE network.
By the mode of wireless technology market is segmented into IR, Zigbee, Z-wave, Wi-Fi, Bluetooth, etc.
By the mode of software & algorithm market is segmented into behavioral and proactive.
Region wise, the Home Automation Market is studied under the regions for North America, Europe Asia Pacific and the rest of the world.
Among these, North America is expected to lead the Home Automation Market during the forecast period owing to the presence of major key players such as United Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Johnson Controls Inc. (U.S.), Crestron Electronics, Inc. (U.S.), Acuity Brands, Inc. (U.S.) and others. With that, the rising demand for domestic energy management systems in this region is acting as a major driving factor for the growth of the market.
Then comes, Asia pacific region, where the countries are adopting new technologies with the rise in the disposable income of middle-income group and increasing government efforts. These efforts are made to support the development through technological development. Such factor is boosting the global home automation market in rapid ways.
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29 March 2019: ADT, a leading provider of monitored security and interactive home and business automation solutions in the United States and Canada, is rolling-out the ADT Command Panel & Control Platform (ADT Command) nationwide.
Building on the award-winning ADT Pulse platform, which was introduced in 2010, ADT Command offers a rich feature set customized to address customers’ lifestyle and needs, while increasing operational efficiencies.
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