About Smart Home Automation
Smart Home Automation is a set of solutions that is engraved in a home Wi-Fi network so the in-activities can be controlled and monitored through smart devices using a smartphone and a mobile application. Smart Home Automation in a smart home consists of automotive products such as surveillance camera, testing, smart kitchen and fire detection, and other commercial vision applications. Additionally, smart home automation includes locks and sensors, alarms, monitoring devices, and detectors cameras. Smart Hub or smart control panel plays a key role in the Smart Home Automation set.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Smart Home Automation market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Honeywell International Inc. (United States), Legrand SA (France), ABB Ltd (Switzerland), Lutron Electronics Co., Inc. (United States), Crestron Electronics, Inc. (United States), Siemens AG (Germany), Leviton Manufacturing Company, Inc. (United States), Johnson Controls (United States), Schneider Electric (France) and Control4 Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Vizago, Home Control, AZ Home, Automatize Residências Inteligentes and Starvai.
Segmentation Overview
AMA Research has segmented the market of Global Smart Home Automation market by , Application (Entertainment, Security, Lighting, HVAC & Energy Management, Smart Kitchen and Security) and Region.
On the basis of geography, the market of Smart Home Automation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Cellular will boost the Smart Home Automation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Smart Home Automation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for Technology Advanced Product for Home Applications
Market Growth Drivers:
Advancement in Technology and Enhanced Security Options
Challenges:
Low Awareness Among Various Consumer
Restraints:
High Installation Cost is Required to Deploy Smart Home Automation
Opportunities:
Growing Impact of Wireless Technology Boosts the Smart Home Automation Market.
Market Leaders and their expansionary development strategies
In November 2019, Germany industrial giant Siemens has announced a deal to acquire US startup Pixeom for an undisclosed fee, in a move to boost its industrial automation, digitalization division and smart home automation.
In September 2019, Control4 Corp. (US) launched Smart Home OS 3 software with Google Assistant voice control and expanded integration with third party doorbells.
Key Target Audience
Association & Industrial Bodies, Software Provider, Professional Service Provider, Government & Research Organisation IT Companies, Cloud service Providers, System Integrator, Reseller & Distributors and Investors & Venture Capitalists
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.