Global Home Automation Market

According to Facts & Factors, the global home automation market size in terms of revenue was worth around USD 48.7 billion in 2020 and is expected to reach USD 89.6 billion by 2026, growing at a CAGR of 11.5% from 2021 to 2026. The global home automation market is projected to grow at a significant growth rate due to a number of driving factors.

Click here to read the complete article: https://www.fnfresearch.com/home-automation-market

Market Overview:

A home automation system is a collection of devices that can safely regulate and monitor a wide variety of home appliances. Some examples of these home appliances include lighting, climate control, and entertainment systems. The most recent iteration of these systems additionally possesses the capacity to control the security alarm systems as well as the home’s control systems.

The growing popularity of the internet of things and the increased prevalence of consumers on possessing elegant and luxurious appliances are the primary factors driving the global market for home automation. In addition, during the period of the forecast, the growth of the global market for home automation will be further driven by rising consumer spending as well as an increase in the average per capita income of consumers.

Global Hand Sanitizer Market Size, Share, Trends, Opportunities Analysis Forecast Report by 2026

The global home automation market is expected to see an increase in revenue opportunities as a result of strategic adoption of brand placement with celebrities and brands as well as increased marketing budgets among manufacturers during the forecast period.

The footprint of the global home automation market is expected to increase during the period of the forecast as a result of the rising penetration of cloud-based solutions and the rising number of smart homes across various regions. The global market for home automation will see an additional boost in growth during the forecast period due to the prebuilt provisions that allow for easy integration of these applications.

Key Market Players:

Creston Electronics Inc.
AMX LLC
Control4 Corporation
Honeywell International Inc.
Johnson Control Inc.
Siemens AG
Savant Systems LLC
ABB Ltd
Resideo
Legrand
Schneider Electric
Acuity Brands
Lutron
Remote Technologies
Elan
Develco Products
Vantage Controls

Market Dynamics:

The following are some noteworthy developments that are expected to change the direction that the market for home automation will take during the forecast period:

The “Make in India” campaign was just recently launched by the Indian government, and its primary objective is to encourage an increase in the number of new businesses that specialize in the production of home automation goods and services.
The Easergy P3, a medium protection relay circuit that takes into account real-time analytics and advanced technological solutions such as the Internet of Things, was recently introduced to the Indian market by Schneider Electric (IoT).

HomeKit was developed by Apple Inc. to enable users to connect their iPhones to a variety of smart home devices and carry out actions such as opening garage doors, controlling lights, and monitoring security cameras.

Controlling lighting, controlling access and security, controlling heating, ventilation, and air conditioning, and controlling entertainment systems are some of the applications that can be used to segment the global home automation market.

Global Frozen Food Manufacturing Market Will Hit 389.2 Billions By 2026, CAGR 4.2% – Facts & Factors

Regarding the proportion of total revenue that it contributes, the market share that will be held by the sector of entertainment control will be the largest during the period of the forecast. The rising number of applications that take advantage of the increased functionality and convenience offered by these devices can be credited with playing a significant role in the segment’s rise to the position of the market leader.

On-premises and cloud-based home automation solutions can be differentiated from one another according to the type of management they provide. The on-premises segment will account for the largest market share throughout the duration of the forecast because it comes with a central hub that can monitor a variety of different systems, including lighting systems, thermostats, and HVAC, to name a few. In addition, the capability of controlling a number of devices from a single point of contact will help contribute to the expansion of the global home automation market during the period of time covered by the forecast.

Asia-Pacific Is Expected To Witness The Largest Market Share During The Forecast Period

It is anticipated that Asia-Pacific will account for the largest market share during the course of the forecast. This is due to the region’s expanding industrial sector, in addition to the growing awareness among consumers regarding home automation systems.

During the period covered by this forecast, the market for home automation devices will experience continued growth thanks to the efforts of developing countries like India and China to create more “smart cities” in their respective countries. Additionally, the presence of a larger population base within the region along with rising incomes that can be spent freely will assist in contributing to an increase in sales within the global home automation market.

The global home automation market is segmented as follows:

By Management Segment Analysis

On-premises
Cloud-Based

By Application Segment Analysis

Lighting Control
Security & Access Control
HVAC Control
Entertainment Control
Others

By Software & Algorithm Segment Analysis

Behavioral
Proactive

By Regional Segment Analysis

North America
- U.S.
- Canada
Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA

With 11.5% CAGR, Global Home Automation Market Size to Surpass USD 89.6 Billion by 2026 – Comprehensive Research Report by Facts & Factors