Market Research Future Insights
According to MRFR analysis, the global Home Automation System market is expected to register a CAGR of ~13.1% from 2022 to 2030 and hold a value of over USD 152 billion by 2030.
The idea of luxury home automation systems and do-it-yourself (DIY) automation systems are in high demand by people all over the world. Automation systems are seen not only as a great and convenient option for homeowners but they are also known to help with security and saving energy. The outbreak of the novel coronavirus has resulted in immense pressure on various manufacturing, developmental, production, and logistics units globally. To contain the pandemic, several governments have imposed restrictions, resulting in many home automation system manufacturers feeling the brunt of the situation. The overall effect of the pandemic on global market operations is anticipated to be of medium-term duration.
Home Automation System Market Key Players
Some of the key market players are
- Honeywell International Inc.
- Acuity Brands, Inc.
- Johnson Controls Inc
- United Technologies Corporation
- Crestron Electronics, Inc.
- Legrand, Schneider Electric Se
- ABB Ltd.
- Samsung Electronics Co., Ltd.
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Home Automation System Market Regional Analysis
The North American region is expected to dominate the home automation system market due to the increasing demand for domestic energy management. The Asia Pacific region will also experience significant growth during the assessment period due to the increasing number of residential and commercial projects, as well as the rising population and per capita disposable income of people in the region.
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Home Automation System Market Segmentation
The Global Home Automation System market has been segmented into technology and product.
Based on the technology, the market has been segmented into Network and Wireless.
Based on the product, the market has been segmented into Lighting, Security and Access Control, HVAC, and Entertainment Control.
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