HOME AUTOMATION SYSTEM MARKET TO REACH USD 141.7 BILLION BY 2027 | CAGR 12.5% – FORENCIS RESEARCH

Global Home Automation System MarketΒ - Global Industry Analysis and Forecast 2019 to 2027

Global Home Automation System Market: Key Highlights

  • According to the new market research report Home Automation System Market by Product (Security & Access Control, Lighting Control, Climate Control, Energy Management Control, HVAC Control, Entertainment Control, and Others), by Technology (Network technology and Wireless Technology),by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2019 to 2027)”, the global Home Automation System market is estimated to reach USD 141.7 Billion by 2027 at a CAGR of around 12.5% during the review period.
  • Home automation is a combination of automatic and electronic controls of household activities and appliances. In other words, customer can easily control various and utilities with the help of Internet to make operations more simple and secure.
  • Home automation system is a network of hardware, communication, and electronic interfaces that work to integrate every device in the home via Internet.

Home Automation System Market

Global Home Automation System Market: Key Market Dynamics

  • Increasing demand of smartphone and smart gadgets and rising IoT market will drive the home automation system market during forecast period.
  • Moreover, favorable government regulations regarding communication standards and technology will create opportunity for the home automation system market during growth period.
  • However, high initial investment of home automation system market will restrain the market and connectivity issues in wireless home automation system will impacted negatively on the growth of the market during forecast period.

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Global Home Automation System Market: Regional Overview

  • Europe

Europe is expected to dominate the home automation system market during forecast period. Germany, Italy, and France will drive the market in Europe region. Supportive government regulation, high presence of global players and increasing need for home security will grow the market in developing European countries. According to EU, they are targeting to install 80% smart utility meters for home applications. The increasing start-up companies in home automation will also adding fuel in the growth of the home automation system market in Europe. 

  • North America

North America is expected to be placed on second position after Europe. Increasing wireless infrastructure, high adoption of latest smartphones and smart gadgets will increase the market in this region. Presence of global players such as Honeywell International Inc. and many more will develop the suitable platform for home automation systems in North America region. Moreover, smart city initiatives and increasing need for simple lifestyle will create more opportunities for home automation system market in this region.

Asia-Pacific is expected to grow at faster rate during forecast period.

Global Home Automation System Market: Key Players Overview

  • Honeywell International Inc.:

Honeywell International Inc. engages in the provision of various product, services, and solutions for various end user industries such as aerospace, building & construction, chemicals& materials, industrial & Manufacturing, retail, safety, and consumer goods. The company provide IP panels & gateways and lighting switches for smart home automation solutions. In 2017, the company launch home automation solution in Middle East to control multiple systems from single platform.      

  • Siemens AG:

Siemens AG is continuously focuses on digitization, electrification, and automation. The company is one of the largest provider of energy-efficient resource saving technologies, power generation and transmission products. The company provide home automation system LOGO! a cost-effective home automation solution which can be implemented by using automatic control, regulation, and monitoring of building functions. These home automation solution is used for intelligent lighting control, control of room parameters, swimming pool, pump control, gate & access control, safety & alarming, and many others.  

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Published : 2020-07-01