DUBLIN–(BUSINESS WIRE)–Jan 4, 2022–
The global home automation market is expected to grow from $48.52 billion in 2020 to $54.41 billion in 2021 at a compound annual growth rate (CAGR) of 12.1%. The market is expected to reach $85.42 billion in 2025 at a CAGR of 11.9%.
The home automation market consists of sales of home automation devices by entities (organizations, sole traders, and partnerships) that use hardware and software technologies that allow users to control and manage their home’s appliances and devices.
A home automation system is a technological solution that allows the majority of electrical, electronic, and technology-based activities in a home to be automated. Home automation is also referred to as domotics, and a home equipped with an automation system is referred to as a smart home.
The main types of products in home automation are lighting control, security and access control, HVAC control, entertainment, others. Lighting controls are a type of smart lighting gadget that allows users to adjust the amount, quality, and features of light in a specific area. These smart devices help to cut down on electricity waste while also promoting energy efficiency. The different technologies include wired home automation system, wireless home automation system and is implemented in various areas such as residential, commercial, others.
North America was the largest region in the home automation market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growing technological advancements are shaping the home automation market. Major companies operating in the home automation sector are focused on developing technological solutions for home automation to strengthen their position.
The increasing use of internet of things (IoT) devices in a home automation system are expected to propel the growth of the home automation market in the forecast period. The Internet of Things (also known as IoT) based home automation system uses internet protocols or cloud computing to operate all of the smart home’s equipment.
The IoT-based home automation system has numerous advantages over wired systems, including flexibility, ease-of-installation, avoidance of the complexity of flowing through wires or weak electrical wiring, easy problem detection and triggering, and, most all, mobility. Therefore, the increasing use of internet of things (IoT) devices in home automation systems drive the growth of the home automation market.
2. Home Automation Market Characteristics
3. Home Automation Market Trends and Strategies
4. Impact Of COVID-19 On Home Automation
5. Home Automation Market Size and Growth
5.1. Global Home Automation Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Home Automation Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Home Automation Market Segmentation
6.1. Global Home Automation Market, Segmentation by Product , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Lighting Control
- Security and Access Control
- HVAC Control
6.2. Global Home Automation Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Wired Home Automation System
- Wireless Home Automation System
6.3. Global Home Automation Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Home Automation Market Regional and Country Analysis
7.1. Global Home Automation Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030…….