Growing concern for energy conservation will escalate the Home Automation Market at a CAGR of 13.93%Published Date: Oct 2017
Latest market study on “Home Automation to 2025 by Product (Entertainment Centers, Security & Access Control, Lighting Control, Climate Control and Outdoor Automation System) and Networking (Wired, Wireless and Power-Line) – Global Analysis and Forecast”, the home automation market is estimated to reach US$ 113.82 billion by 2025 from US$ 35.24 billion in 2016. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The global home automation market by products is fragmented into Entertainment Centers, Security & Access Control, Lighting Control, Climate Control and Outdoor Automation System. The segmentation is based upon the various home automation products to improve efficiency and security. Security & Access control in the Home Automation market have acquired the biggest share of almost one-third in 2016, followed by Climate Control, and Lighting Control. The Security & Access Control product segment is expected to acquire the largest share attributed to the rising criminal incidences as well as increasing young working population seeking to monitor elderly and children through video surveillance.
The developed regions such as North America and Europe, comprises of a rapidly increasing elderly population. Home automation systems provides several benefits for elderly such as emergency response, video monitoring, medication assistance, and better security among others.
There has been constant development in home automation industry. For instance, Honeywell, one of the leading provider of home automation products and solutions, recently launched a comprehensive range of home automation products in the Middle East region. The company’s move towards expanding in the region is the increasing demand for home automation solutions as the Middle East is witnessing a high growth in the construction of premium residential projects.
Some of the leading home automation market players are Johnson Controls, Siemens AG, Legrand, Schneider Electric SE, Honeywell International, Inc., Control4 Corporation, ABB Ltd, Creston Electronics, Inc., Leviton Manufacturing Company, Inc., and Lutron among others.
The report segments the global home automation market as follows:
Global Home Automation Market – By Product
Security & Access Control
Outdoor Automation System
Global Home Automation Market – By Networking
Wired Home Automation Systems
Wireless Home Automation Systems
Power-Line Home Automation Systems
Global HOME AUTOMATION Market – By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SA)