Jersey City, N.J., Jan. 11, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Home Automation Market” By Type (Luxury Home Automation System, Mainstream Home Automation System), By Product (Lighting Control, Security And Access Control), By Networking Technology (Wired Home Automation System, Wireless Home Automation System), and By Geography. According to Verified Market Research, the Global Home Automation Market size was valued at USD 44.68 Billion in 2020 and is projected to reach USD 97.06 Billion by 2028, growing at a CAGR of 10.42% from 2021 to 2028.
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Browse in-depth TOC on “Home Automation Market“
202 – Pages
126 – Tables
37 – Figures
Global Home Automation Market Overview
Rapid development and growth in the popularity of Artificial intelligence, rapid adoption of newer technology by the masses, and the rapid development of IoT are anticipated to drive the market. With IoT, any device can be connected to the internet. For instance, a smart light bulb can be turned on and off via an app. Each home automation devices are IoT devices, which can be automated to trigger one another. Hence, while IoT refers to the devices themselves, home automation along with IoT is making consumers’ life just a tad bit easier. Besides, there has been notable growth and development in the Artificial Intelligence field in current times. Various major key players are reinvesting in research and development to bring forth innovations in the existing product. In addition, the rise in disposable income of consumers has led to a demand for a comfortable and better lifestyle.
There have been increasing preferences for an elegant and luxurious lifestyle in emerging countries which is also encouraging the growth of the market. Some of the key players in the market are making conscious efforts for product development by developing strategic associations and collaborations and promoting new technically advanced products. The increasing awareness for efficient energy usage and technological advancements are anticipated to fuel the market further. Thus, all the foregoing factors are anticipated to stimulate the market and act as growth propellers.
- In February 2019, Harman Professional Solutions partnered with Zoom Video Communications, Inc. to improve its solutions for controller applications in commercial environments. This partnership resulted in the creation of the AMX Acendo Core Collaboration System and the Zoom Meetings service with the Zoom Rooms Controller app.
- Legrand acquired Focal Point (US) in February 2020, a producer of architectural lighting for non-residential buildings. This acquisition will reinforce Legrand’s position as the market leader in lighting control solutions for both residential and commercial product offerings in the United States.
The major players in the market are Resideo, Legrand, Schneider Electric, Johnson Controls, Siemens, Ingersoll Rand, ABB, Leviton Manufacturing Company, Control4, and Crestron Electronics, Inc.
Verified Market Research has segmented the Global Home Automation Market On the basis of Type, Product, Networking Technology, and Geography.
- Home Automation Market, By Type
- Luxury Home Automation System
- Mainstream Home Automation System
- DIY (Do It Yourself) Home Automation System
- Managed Home Automation System
- Home Automation Market, By Product
- Lighting Control
- Security and Access Control
- HVAC Control
- Entertainment and Other Controls
- Home Automation Market, By Networking Technology
- Wired Home Automation System
- Wireless Home Automation System
- Computing Home Automation System
- Home Automation Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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Top 10 Smart Home Companies offering fine living experience through complete home solutions
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