Home Automation System Market size was valued at US$ 47.65 Bn. in 2021 and the total revenue is expected to grow at 6.59% through 2022 to 2029, reaching nearly US$ 74.5 Bn.
Home Automation System Market Overview:This system is also called as a smart home. Home automation is a smart, innovative and trending concept. Home automation system based on technology advancement which is controlled with an internet of things that is you can monitor home operations conned with the smart device. It offers safety, convenient, lower unit cost, and efficient energy saving. Home automation system control lighting and mechanical system. To know about the Research Methodology :- Request Free Sample Report The home automation system market is segmented by applications, by component (service, product), by technology and by region. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, info graphics, and presentations. The study discusses the home automation market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the home automation system market situation. Impact of COVIDE 19 on the Home Automation System Market: COVID virus is spread by touching. As scientists said COVID grams live on surfaces for a few hours or days that time people adopt a home automation system to avoid touching gets, wall switches, or other surfaces. Thanks to this demand for home automation systems in the forecast period and shows huge growth in COVID 19. There is a huge demand for medical equipment and technology.in fact, 79%of healthcare providers plan to add home automation in the next 24 months. In October 2020, STRATIS and Silicon Labs have collaborated to build a new smart home solution, specifically for apartment complexes. According to the VP and GM of the industrial and commercial IoT products division of Silicon Labs, they are seeing the continued demand for connected technologies extending well beyond the smart home. Because of COVID 19 people found it convenient to adopt touch less technology at home.
Home Automation System Market Dynamics:The rise in demand for safety & security for homes is the major factor driving the home automation market A home security system aims to protect your loved ones and property. A key component of the smart home is a security and service system and increasing consumer awareness and financial ability, product innovations (like smartphones, and apps) requirement for market differentiation and an increase in the preference for energy efficient systems. home automation is designed to automate or monitor home security with the help of devices like cameras, smart door locks, and video door bells. Expensive home automation is restraining the market In 2020, according to research, 17-58% of the global population could be considered middle income.7-15 % considered upper middle class or high-class people. As per data high-cost of products currently, home automation is considered affordable only by individuals with higher net worth hence it considers a luxury but 17-58% of people which is the middle class can’t afford home automation also lack technical knowledge gives the additional burden of learning new things and the fear of errors which plays major restrain for the home automation market
Home Automation System Market Segment Analysis:Home automation system by-product: Home automation system segment by product: smart entertainment system is very popular in the home automation system. In today’s technology all things can be smart that is you can expect your entertainment system easily without wiring or ports. Smart TVs are usually the Center of smart entertainment systems you can add smart Speakers, Controllers And Various Bluetooth Device Such As Video Game controllers, Blu-Ray Players, Roku Devices, Stereos, Tables smartphones and more also smart devices access your home automation system. Home automation by service: Home automation services are sub-segmented into consulting, installation or implementation and support and maintenance. Support and maintenance are in demand if technology needs maintenance. Regular maintenance allows error free and continuing to enjoy their system By network technology, Home automation network technology is categorized into wire and wireless. Remotely control home automation system is based on wireless sensors this system is unique for good reason you can manage a device from one place at the same time, A wireless system increases energy efficiency, home security is maximized you can control home appliances with the help of remote.
Home Automation System Market Regional Insights:The North American smart home market recorded strong growth in 2021. The installed base of smart home systems increased by 18.0 % to reach 223.2 million at the yearend. An estimated 30.0 million of these were multifunction or whole-home systems whereas 193.2 million were point solutions designed for one specific function. As some homes have more than one smart system in use, the installed base totalled an estimated 51.3 million smart homes at the end of the year. The consumer's first smart home purchase. The most popular point solutions to date, in terms of sold units, include smart thermostats, smart light bulbs, smart plugs, connected security cameras, and voice-controlled smart speakers. The objective of the report is to present a comprehensive analysis of the Home Automation System market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players, including market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Home Automation System market dynamics, structure by analyzing the market segments and project the Home Automation System market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Home Automation System market make the report investor’s guide.
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Global Home Automation System Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 47.65Bn. Forecast Period 2022 to 2029 CAGR: 6.59 % Market Size in 2029: US $ 74.5Bn. Segments Covered: by Component • Product o Security and safety o HVAC o Wellness Monitoring o Smart appliances o Smart entertainment o Smart lightning o Other • Service o Consulting o Installation or Implementation o Support and Maintenance by Technology • wired • Wireless • Power line based
Home Automation System Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Home Automation System Market Key Players• ABB LTD • Johnson controls international plc • Crestron electronic • Siemens AG • Control4 corporation • SchneiderElectronics • Koninklijke Philips N.V • Legrand SA • Honeywell international Inc • Savant systems LLC • Resideo • Legrand • Ingersoll Rand • Leviton Manufacturing Company • Acuity Brands Frequently Asked Questions: 1] What segments are covered in the Home Automation Market report? Ans. The segments covered in the Home Automation Market report are based on Type, Component and Application. 2] Which region is expected to hold the highest share in the Home Automation Market? Ans. North America region is expected to hold the highest share in the Home Automation Market. 3] What is the market size of the Home Automation Market by 2029? Ans. The market size of the Home Automation Market by 2029 is expected to reach US$ 74.5 Bn. 4] What is the forecast period for the Home Automation Market? Ans. The forecast period for the Home Automation Market is 2022-2029. 5] What was the market size of the Home Automation Market in 2021? Ans. The market size of the Home Automation Market in 2021 was valued at US$ 47.65 Bn.
1. Home Automation System Market: Research Methodology 2. Home Automation System Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Home Automation System Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Home Automation System Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Home Automation System Market Segmentation 4.1. Home Automation System Market, by Product (2021-2029) • Product • Security and safety • HVAC • Wellness Monitoring • Smart appliances • Smart entertainment • Smart lightning • Other Physical Appliances • Service • Consulting • Installation or Implementation • Support and Maintenance 4.2. Home Automation System Market, By Technology (2021-2029) • wired • Wireless • Power line based 5. North America Home Automation System Market(2021-2029) 5.1 North American Home Automation System Market, By Product (2021-2029) • Product • Security and safety • HVAC • Wellness Monitoring • Smart appliances • Smart entertainment • Smart lightning • Other Physical Appliances • Service • Consulting • Installation or Implementation • Support and Maintenance 5.2 North America Home Automation System Market, By Technology (2021-2029) • wired • Wireless • Power line based 5.3 North America Home Automation System Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Home Automation System Market (2021-2029) 6.1. European Home Automation System Market, By Product (2021-2029) 6.2. European Home Automation System Market, By Technology (2021-2029) 6.3 European Home Automation System Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Home Automation System Market (2021-2029) 7.1. Asia Pacific Home Automation System Market, By Product (2021-2029) 7.2. Asia Pacific Home Automation System Market, By Technology (2021-2029) 7.3. Asia Pacific Home Automation System Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Home Automation System Market (2021-2029) 8.1. Middle East and Africa Home Automation System Market, By Product (2021-2029) 8.2. Middle East and Africa Home Automation System Market, By Technology (2021-2029) 8.3. Middle East and Africa Home Automation System Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Home Automation System Market (2021-2029) 9.1. South America Home Automation System Market, By Product (2021-2029) 9.2. South America Home Automation System Market, By Technology (2021-2029) 9.3 South America Home Automation System Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 ABB LTD 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Johnson controls international Plc 10.3 Crestron electronic 10.4 Siemens AG 10.5 Control4 corporation 10.6 SchneiderElectronics 10.7 Koninklijke Philips N.V 10.8 Legrand SA 10.9 Honeywell international Inc 10.10 Savant systems LLC 10.11 Resideo 10.12 Legrand 10.13 Ingersoll Rand 10.14 Leviton Manufacturing Company 10.15 Acuity Brands