The global home automation and controls market size was valued at $52.03 billion in 2019 and is expected to reach $104.52 billion by 2028 growing at a CAGR of 10.70% from 2021 to 2028.
Home automation system refers to automatic and electronic control of household features, activity, and appliances. In addition, home automation is a network of hardware, communication, and electronic interfaces, which work to integrate smart devices with one another via the Internet. Every device has sensors and is connected through Wi-Fi, so anyone can manage them from a smartphone or tablet.
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This allows to turn on lights, lock doors, or even turn down heat remotely. Home automation and controls system is an automatic centralized control system. This system finds application in heating, ventilation, & air conditioning; lighting; and security & access control. An increase in demand for energy efficiency and maintenance of a secure & safe environment with enhanced user convenience in various industry verticals boost the market growth.
The prominent factors that drive the growth of the home automation and controls market include growth in deployment of home automation devices, high adoption of wireless technologies, the need for energy-efficient solutions, and government initiatives. However, the lack of interoperability between smart devices hampers the growth of the home automation and controls market. Conversely, the high development of smart city projects in Asia-Pacific is expected to create lucrative opportunities for the home automation and controls industry.