Global Home Automation Market is valued approximately at USD 49 billion in 2019 and is anticipated to grow with a growth rate of more than 11.2% over the forecast period 2020-2026. Home automation is system with network of hardware electronic interfaces communication, which combines hardware and software that gives the user control over the devices and appliances inside the house premises. The devices are connected with each other through internet and can be managed via smartphone or tablet even from miles away and referred as smart house or smart home. The continued growth in Internet of Things (IOT), rapid proliferation of smartphones and smart gadgets and large number of manufacturers expanding their product portfolios are the few factor responsible for higher growth of the market over the forecast period. For instance, as per Statista, the total smartphone production volume worldwide was 1.29 billion in 2015 and is anticipated to rise 1.52 billion of smartphone production volume in 2021. Also,, rising safety & security concern is projected to promote the adoption of home automation system is expected to fuel the market growth. However, high initial installation cost is the major factor restraining the growth of global Home Automation market during the forecast period.
The regional analysis of global Home Automation Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of a significant number of new residential projects and the strengthening of building infrastructure across the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period of 2020-2026.
Major market player included in this report are:
AMX LLC. (Harman)
Crestron Electronics, Inc.
Honeywell International Inc.
Johnson Controls International Plc
Savant Systems LLC.
Vantage Controls (Legrand)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Luxury Home Automation
Diy Home Automation
Managed Home Automation
Mainstream Home Automation
Safety & security
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Home Automation Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers