About Home Automation System
The home automation system is defined as the building automation for a home, which is also known as a smart home or smart house. It includes various home security, namely access control, alarm systems, and others. In this system, it is connected to the Internet and it is a significant constituent of the Internet of Things. The various benefits of using a home automation system fall into categories such as savings, safety, convenience, control, and others. The rising demand of smartphone-based app for home automation, upsurge consumer awareness about energy-consuming products, convenience factor, rapid mobile connectivity, urbanization, as well as the change in lifestyle worldwide are some of the major drivers which are boosting the growth of the market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 14.1% |
Home automation systems are becoming increasingly popular as people look for ways to make their lives more convenient, secure, and energy-efficient. These systems allow you to control various aspects of your home remotely, such as lights, thermostats, locks, and appliances, using a smartphone, tablet, or voice assistant. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Home Automation System 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.
Legrand (France), Ingersoll-Rand PLC (Ireland), Schneider Electric SE (France), Honeywell International, Inc., (United States), ABB Ltd. (Switzerland), Control4 Corporation (United States), Crestron Electronics, Inc. (United States), Johnson Controls, Inc., (United States) and Siemens AG. (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Amx LLC (United States), Ingersoll-Rand PLC (Ireland), Leviton Manufacturing Company, Inc. (United States), Lutron Electronics Company (United States), Savant Systems LLC. (United States) and Zigbee Alliance (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Automation System market by Type (Power Line Home Automation System, Wired Home Automation System and Wireless Home Automation) and Region.
On the basis of geography, the market of Home Automation System 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. Wi-Fi Based Home Automation System will boost the Home Automation System 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 Home Automation System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
New Technological Advancement in Home Automation System
Market Growth Drivers:
Cost Reduction Measures Enabled By Home Automation Systems, Rapid Proliferation of Smartphones and Smart Gadgets, Increasing Importance of Home Monitoring From Remote Locations and Growth in the Internet of Things (IoT)
Challenges:
Risk Related to Device Malfunctioning
Restraints:
Home Automation Products especially in Developed Countries to Reach Maturity Level and Market is More Convenience-Driven Than Necessity-Driven
Opportunities:
Lighting Controllers to Incorporate In-Built Data Connectivity Technology and Favorable Government Regulations in Several Countries
Market Leaders and their expansionary development strategies
September 2023: Apple unveils its new Matter-compatible HomePod Mini with improved sound quality and smart home features
Key Target Audience
Automation & Control Vendors, Automation & Control Networking Technology Vendors, Real Estate Builders and System Integrators, Homeowners and Project Consultants, Designers/Consultants (HVAC, Security, and Fire & Safety), Component Manufacturers (Sensors & Controls), Software and Solution Providers, Home Management Systems (Product & Service Providers) and Associations & Standards and Government Bodies Involved In Green Buildings
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.