Today we live in a world of automation where most of the manual work is getting automated, such as industrial automation, homes and other business sectors. Home Automation Systems Market are advancement in the mechanization processes where human efforts are needed with the machinery equipment to operate various loads in homes. It includes automatic controlling of home appliances using different technologies and controllers over desktops, laptops smartphones or tablets. The home automation system market is growing due to the significant rise in IoT market, cost reduction measures enabled by home automation systems, the presence of a large number of manufacturers expanding their product catalog, and the increasing need of home monitoring from remote locations.
According to Market Research Future Analysis, the global home automation system market is estimated to generate revenue of approximately USD 85 Billion by 2023 growing at a CAGR of 11% during the forecast period 2018-2023.
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Some of the key players of Home Automation System 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.
The geographical analysis of global recommendation market is done for regions like North America, Europe, Asia Pacific, and rest of the world. Among these regions, the market is mostly dominated by North America during the forecast year. North America is expected to drive the home automation market due to technological advancement, consumer awareness, fast internet connectivity and the presence of major players of home automation system market 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. Also, the increased demand for HVAC & energy management has significantly driven regional growth. The market in APAC is expected to grow at the highest CAGR due to a rapid increase in the residential projects and need to strengthen the building infrastructure. In developing countries like India, the market is expected to rise owing to the increasing investments in infrastructure to improve the standard of living.
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On the basis of Product, the market is segmented into Lighting Control, Climate Control, Security and Access Control, HVAC Control, Entertainment Control, Energy Management Control and others. Security and access control is expected to grow at the highest CAGR during the forecast period owing to the increasing demand for home monitoring solutions and risk of criminal activities such as theft and robbery. The security and access control market is followed by Lightening control as it accounts for one of the largest electrical loads in homes.
On the basis of protocol & technology, the market is into Network and Wireless. By Network Technology, the market is segmented into CDMA, GSM/HSPA, LTE network. By Protocol, the market is segmented into Digital Addressable Lighting Interface(DALI), Ethernet, LONWORKS, BACnet among others. By Wireless Technology, the market is segmented into IR, Zigbee, Wi-Fi, GSM, Bluetooth. Wireless Technology holds the largest market share for home automation market owing to the increase in number of products equipped with WiFi technology.
On the basis of Technology, the market is segmented into Context-Aware and Geospatial Aware. Context-aware technology is expected to dominate the market as it helps in giving diverse and accurate recommendations to the user. The contextual information includes the location of the user, the identity of people around, date, season, and temperature. For instance, a website may recommend songs to a user by asking the current mood of the user.
On the basis of Software & Algorithm, the market is segmented into behavioral and proactive. The proactive segment is expected to witness a healthy growth. Proactive solutions are designed in a way that it becomes easy for consumers to understand the energy pattern and accordingly take measures to reduce the consumption.
- Automation & control vendors
- Automation & control networking technology vendors
- Real estate builders
- System integrators
- Project consultants
- Designers/consultants (HVAC, security, and fire & safety)
- Component manufacturers (sensors & controls)
- Software and solution providers
- Home management systems (product & service providers)
- Associations & standards
- Government bodies involved in green buildings
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Get More Information @ https://www.marketwatch.com/press-release/home-automation-system-market-2018-industry-size-share-segmentation-future-growth-regional-trends-emerging-technology-sales-revenue-development-history-by-forecast-to-2023-2018-11-20
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