Global Home Automation Market, By Product Type (Luxury, Do It Yourself, Managed, Mainstream), Technology (Wired and Wireless), Application (Lighting, Safety and Security, HVAC, Entertainment, Others)-Industry Trends and Forecast to 2029.
Global Home Automation Market Analysis and Size
Various types of home automation systems, ranging from premium home automation systems to DIY home automation systems, are being deployed around the world. They not only make life easier for homeowners, but they also help with home security and energy conservation.
- On-premises are expected to hold a larger share in the level sensors market due to for many years, on-premises management was the sole option for home automation. Data Bridge Market Research analyses that the home automation market was valued at USD 44.72 billion in 2021 and is further estimated to reach USD 93.10 billion by 2029, and is expected to grow at a CAGR of 9.6% during the forecast period of 2022 to 2029.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Product Type (Luxury, Do It Yourself, Managed, Mainstream), Technology (Wired and Wireless), Application (Lighting, Safety and Security, HVAC, Entertainment, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Resideo Technologies Inc. (US), Legrand. (France), Schneider Electric (France), Johnson Controls. (Ireland), Siemens (US), Ingersoll-Rand plc (Ireland), ABB (Switzerland), Leviton Manufacturing Co., Inc. (US), Wirepath Home Systems, LLC (US), Control4 Corporation (Canada), Crestron Electronics, Inc. (US), ACUITY BRANDS LIGHTING, INC. (US), Lutron Electronics Co., Inc (US), Remote Technologies Inc. (US), Elan Nortek Security & Control LLC (US), ADT. (US), HARMAN (US), Develco Products (Denmark), Savant Systems, Inc (US), SmartThings, Inc. (US), and Nest Labs (US).
Global Home Automation Market Definition
The process of incorporating intelligent technology into houses for comfort, energy savings, and safety is referred to as home automation, also known as smart home system. Lighting, ventilation, heating, security systems, and air conditioning are all controlled and computerised using technology (HVAC).
Home Automation Market Dynamics
Major factors that are expected to boost the growth of the home automation market in the forecast period are as follows:
- Rise in the homeownership among millennials globally
Telecommunication firms have entered the home security sector after acquiring a significant domestic customer base through existing internet and cable subscriptions will further accelerate the growth of the market.
- Rise in the services provided by telecommunication companies
Installing safety monitoring and security devices in a home can cut a homeowner's insurance by up to 20%, according to SafeWise (US), an independent review group for testing and reviewing home security systems is further anticipated to propel the growth of the home automation market.
- Increase in the use of home automation systems
Due to the incorporation of these products and services as a part of lifestyle and a high acceptance rate of sophisticated technology, home automation has gained popularity in industrialised countries over the last decade is further contributing the growth of the market.
In addition, the rapid urbanization in advancing countries is further estimated to provide potential opportunities for the growth of the home automation market in the coming years.
Restraints/Challenges Global Home Automation Market
On the other hand, the rise in the costs regarding the purchase and deployment of home automation systems is further projected to impede the growth of the home automation market in the targeted period. However, the increase in the security concerns with home automation devices and compatibility concerns with the integration of home automation systems from different manufacturers might further challenge the growth of the home automation market in the near future.
This home automation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the home automation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Home Automation Market
The pandemic of COVID-19 has had a huge impact on the home automation market. This problem has impacted most home automation system makers, and it is projected to have a medium-term impact. Disrupted supply chains also resulted in a decrease in home automation manufacturing as well as demand in the market, consequently hurting the global home automation industry However, in the post-COVID scenario, home automation market is projected to be significantly impacted.
- In October 2020, The Honeywell Home ProSeries Security and Smart Home Platform is now available from Resideo (US). The ProSeries Platform extends Resideo's comprehensive portfolio of connected security systems and services by offering dealers a complete, end-to-end solution that ranges from an entry-level security system to a fully integrated smart home solution.
Global Home Automation Market Scope and Market Size
The home automation market is segmented on the basis of product type, technology, and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Do It Yourself
On the basis of type, the home automation market is segmented into luxury, do it yourself, managed, and mainstream.
On the basis of technology, the home automation market is segmented into wired and wireless.
- Safety and Security
On the basis of application, the home automation market is segmented into lighting, safety and security, HVAC, entertainment, and others.
Home Automation Market Regional Analysis/Insights
The home automation market is analysed and market size insights and trends are provided by country, product type, technology, and application as referenced above.
The countries covered in the home automation market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Asia-Pacific dominates the home automation market due to the increase in the technological developments. Furthermore, the improved internet connectivity will further boost the growth of the home automation market in the region during the forecast period.
Europe is projected to observe significant amount of growth in the forecast period of 2022 to 2029 due to the occurrence of some leading manufacturers in automotive sector. Moreover, the rise in the investments in infrastructure to improve standard of living is further anticipated to propel the growth of the home automation market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Home Automation Market Share Analysis
The home automation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to home automation market.
Some of the major players operating in the home automation market are:
- Resideo Technologies Inc. (US)
- Legrand. (France)
- Schneider Electric (France)
- Johnson Controls. (Ireland)
- Siemens (US)
- Ingersoll-Rand plc (Ireland)
- ABB (Switzerland)
- Leviton Manufacturing Co., Inc. (US)
- Wirepath Home Systems, LLC (US)
- Control4 Corporation (Canada)
- Crestron Electronics, Inc. (US)
- ACUITY BRANDS LIGHTING, INC. (US)
- Lutron Electronics Co., Inc (US)
- Remote Technologies Inc. (US)
- Elan Nortek Security & Control LLC (US)
- ADT. (US)
- HARMAN (US)
- Develco Products (Denmark)
- Savant Systems, Inc (US)
- SmartThings, Inc. (US)
- Nest Labs (US)
Research Methodology : Global Home Automation Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-home-automation-market