Home Automation Market to Witness Huge Growth from 2017-2023

Home Automation Market was valued at $39,607 million in 2016, and is projected to reach at $81,645 million by 2023, growing at a CAGR of 11.2% from 2017 to 2023. Home automation is utilization of intelligent terminals, which is automation system to control home appliances and equipment. Increase in awareness for efficient energy usage, rise in electricity prices, and technological advancements are expected to drive the home automation market growth. Moreover, increase in safety & security concerns fueled the adoption of home automation system, thus boosting the market growth.

However, lack of awareness about home automation products and high initial investments in home automation are expected to hamper the home automation market growth. Increase in adoption of automated services is expected to provide lucrative opportunities for the global home automation market.

Top Companies Covered in this Report:
Crestron Electronics, AMX , Control4 Corporation, Honeywell International, Johnson Controls, Siemens AG, Zigbee Alliences, Vantage Controls, Lightolier, and Daintree Networks,

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The report segments the global home automation market on the basis of application, type, technology, and region. Applications covered in the study includes lighting, safety & security, heating, ventilation, and air conditioning (HVAC), entertainment, and others. On the basis of technology, the home automation market is bifurcated into wired and wireless technology. By type, the home automation market, is classified into luxury, do it yourself (DIY), mainstream, and managed services. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Safety & security systems accounted for a dominant share of the market in 2016, and are expected to grow at a CAGR of 11.8% during the forecast period. The wireless technology was the dominant segment for home automation market accounting for about 53% in 2016.

Major Types of Home Automation covered are:
Luxury
DIY (Do-it-yourself)
Mainstream
Managed Services

Major Applications of Home Automation covered are:
Lighting
Safety and Security
HVAC
Entertainment
Energy Management
Others

The factors that impact the global home automation market include development of innovative & energy efficient automated systems, growth in IoT market, increase in importance of home monitoring from remote locations, rise in consumer awareness related to availability of smart home devices such as automated security & lighting systems, and stringent government regulations. The adoption of home automation systems is increasing, owing to development of the construction industry and increase in demand for energy efficiency in smart homes & buildings. The home automation industry is dominated by remote control solutions, as mobile apps and other advanced solutions are expensive in the developing regions and lack of standardization are expected to hamper the home automation market growth.

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Fundamentals of Table of Content:

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Home Automation Market Size
2.2 Home Automation Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Home Automation Market Size by Manufacturers
3.2 Home Automation Key Players Head office and Area Served
3.3 Key Players Home Automation Product/Solution/Service
3.4 Date of Enter into Home Automation Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Home Automation Sales by Product
4.2 Global Home Automation Revenue by Product
4.3 Home Automation Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Home Automation Breakdown Data by End User

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In the last section of the report, the global Home Automation market additionally provides a detailed survey of the key competitors and the leading players in the market, based on the various objectives of an organization such as overview, profiling, product portfolio, the quantity of production, upstream raw material, downstream demand analysis, and the financial status of the organization. These key players have adopted the regional expansion, mergers & acquisitions, product portfolio expansion, partnerships, and collaborations as their key strategies to enhance their infiltration in the Global Home Automation Market.

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