Home Automation Market: was valued at US$ 83.14 Bn. in 2022. Global Home Automation Market size is expected to grow at a CAGR of 74.5 % through the forecast period.
Home Automation Market Overview:
Maximize Market Research’s new report, Global Home Automation Market 2022-2029, is useful for understanding the market’s competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The study offers a market overview that describes the value chain’s structure, as well as the market’s size, applications, and forecast for the years (2022-2029). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Home Automation market.
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Market Scope:
The research provides an analytical view of the business by studying several elements such as worldwide Home Automation market growth, consumption volume, market trends, and company pricing structures throughout the projected period. In-depth research is used in the analysis to examine the market’s complexity. The research provides an overview of the worldwide Home Automation market, including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. Based on productivity and manufacturing base, this market has been investigated in a number of different ways.
Segmentation:
by Type
Managed
Do it Yourself (DIY)
Mainstream
by Application
Entertainment
Safety & Security
Lighting
HVAC
The home automation system market is divided into four categories based on applications: HVAC, Entertainment, Lighting, and Safety & Security. Because smart lighting systems have environmentally friendly features like adjusting brightness based on daylight availability or the presence of people in the room, which saves energy, the lighting control system is expected to hold % market share by 2029. Although this is a useful feature for homes, smart city technology might go a step further and include dynamic lighting that turns off when no one is nearby if there are no moving cars.
by Component
Hardware
Software
Services
According to Component, software holds a % market share and is the market leader. Proactive software and algorithms not only inform end users about energy consumption statistics, but they also instill in them a greater sense of responsibility for the actions that should be taken in response to the information obtained. Proactive solutions have an edge over reactive ones since they can make decisions and act on behalf of end users. Due to the growing use of proactive types of software and algorithms in home automation devices, it is projected that the proactive type of software and algorithm market segment would expand more swiftly.
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Key Players:
It then discusses the top competitors in the worldwide Home Automation market, as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. The research also evaluates raw material sources, import-export, the value chain, price structure, and the industrial supply chain in addition to capacity utilisation. The following participants are highlighted in this study:
1 Honeywell International, Inc.
2 Resideo
3 Legrand
4 Schneider Electric Se
5 Johnson Controls, Inc.
6 Siemens AG
7 AMX
8 Ingersoll-Rand PLC
9 Canary
10 ABB Ltd.
11 Control4 Corporation
12 Crestron Electronics, Inc.
13 Leviton Manufacturing Company, Inc.
14 Lutron
15 Elan home systems
16 Fueblabs
17 Harman International
18 Vera
19 Home brain
20 Oakter
21 Silvan Innovation
22 Top of Form
23 PERT
24 Acuity Brands, Inc.
25 Samsung Electronics Co., Ltd.
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Regional Analysis:
The report has analyzed the global Home Automation market in the following regions:
- North America (Mexico, Canada, and the United States)
. Germany, France, the United Kingdom, Russia, Italy, and the rest of Europe make up the European Union.
. Asia-Pacific region (including Australia, China, Japan, Korea, Southeast Asia, and Japan)
. Latin America (Brazil, Argentina, Colombia, and the remaining countries in South America) - Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East Africa)
The study offers in-depth perceptions into a wide range of development prospects and obstacles in the aforementioned regions based on various items, applications, end users, and nations, among other factors. The research also includes key features of the worldwide Home Automation market, such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.
COVID-19 Impact Analysis on Home Automation Market:
Practically every industry has been hit by the unprecedented global public health disaster known as COVID-19, and the long-term effects are anticipated to have an impact on industry growth for the duration of the forecast period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The updated research includes new information, analysis, projections, and predictions based on COVID-19’s impact on the market.
The Home Automation Market Report provides key answers to the following questions:
- Which are the major companies in the Home Automation market?
- Which is the potential market for Home Automation in terms of the region?
- Which application area of Home Automation is expected to grow at a significant rate in the market in the next 5 years?
- What are the opportunities for new market entrants?
- What will be the Home Automation market size by 2027?
- What are the market’s chances of growth?
- What is the base year considered in the Home Automation market report?
- Which region dominates the Home Automation market in terms of market share?
- What factors are anticipated to drive the Home Automation market?