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The global smart home automation market is expected to reach ~ USD 95 billion by 2025 and is anticipated to grow at a CAGR of over 12% in the next five years.
Home automation is the automatic and electronic system, which controls household appliances, features, and activities. Each device in this system has sensors and Wi-Fi connectivity so that users can manage and control them from tablet or smartphone locally or remotely. Home automation allows users to turn on the lights, turn down the heat, or even lock the doors, irrespective of the location. It offers different functions and services such as remote lighting control, thermostat control, fire and carbon monoxide monitoring, home automation security systems and cameras, appliance control, alarm systems, live video surveillance, real-time text, and email alerts.
Increasing electricity prices across the globe have significantly driven the global home automation market growth. Increased electricity prices have ultimately increased the household operating budget. Major end-users of home automation systems are hospitality industries and residential buildings. The major reasons behind the increased electricity prices are scarcity of natural resources and rising prices of commodities such as coal. With the help of home automation systems, consumers can regulate their usage and reduce their electricity expenditure. Other factors driving the global home automation growth are stringent government regulations, development of innovative and efficient energy systems, the rising importance of home monitoring from a remote location, increasing consumer awareness related to home automation solutions.
With increasing awareness of new home automation technologies and inclination towards a luxurious lifestyle in developing countries have surged global home automation market growth. The growing demand for features like the convenience of remote operation along with exceptional experience offered by smart home automation has scaled up the graph of global home automation market growth.
Key Segments of the Global Smart Home Automation Market
Application Overview, 2018-2025 (USD Billion)
Component Overview, 2018-2025 (USD Billion)
Technology Overview, 2018-2025 (USD Billion)
Regional Overview, 2018-2025 (USD Billion)
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global Smart Home Automation market. The report will benefit:
Increasing adoption of the Internet of Things (IoT) coupled with connected devices is expected to drive the growth of the home automation market around the world. It is expected that by 2025, there will be approximately 75 billion IoT devices globally. North America, Western Europe, and China together will account for more than 67% of total installed IoT devices across the globe. Furthermore, rising awareness regarding efficient energy usage, technological advancements, and others are some of the additional factors anticipated to drive the growth of the smart home automation market in the given analysis period. Moreover, increasing concern over security and safety is further impacted significantly on global market growth.
Application Type Segment
Based on application, the market is segmented into lighting systems, monitoring and security, entertainment, and HVAC. Among these, the lighting segment is expected to hold a significant share during the analysis period. Increasing the expansion of major companies such as Phillips, GE Lightning, Advanced Lighting technology, etc. in emerging economies is anticipated to drive the lighting segment in the given analysis period. Moreover, increasing the adoption of wireless technologies is another factor contributing to the growth of this segment in overall market analysis
Component Segment
Based on components, this market covers categories like hardware, software, and services. In 2019, the market for the hardware segment was valued over USD 25 billion and is anticipated to grow at a considerable rate over the forecast period.
Technology Segment
Based on technology, this market covers categories like wired and wireless. In 2019, the market for the wireless segment holds a significant share in the smart home automation market and is anticipated to grow at a significant rate over the forecast period.
On the geographical front, the market is segmented into North America, Europe, Asia Pacific, South America and the Middle East and Africa. North America is expected to hold the largest share in the global home automation market in a given forecasted period. This can be attributed due to rising mergers and collaborations between IT companies and major industry players to develop AI and IoT based home automation solutions in the US. Furthermore, the high adoption rate of safety and security solutions in the US is expected to drive the smart home automation market in the region.
Asia Pacific region is anticipated to grow at a considerable growth rate over the forecast period owing to the rising adoption of smartphones and high-speed networks.
The key players operating within the global smart home automation market are Honeywell, Johnson Controls, Control4, Cisco System, ADT, and others. As of 2019, the market for smart home automation providers is fragmented with the presence of established global and domestic players across the globe. Moreover, the established companies are coming up with upgraded versions of smart home automation systems with upgraded as well as advanced digital and automation solutions.
The global smart home automation market is expected to reach ~ USD 95 billion by 2025 and is anticipated to grow at a CAGR of over 12% in the next five years.
Home automation is the automatic and electronic system, which controls household appliances, features, and activities. Each device in this system has sensors and Wi-Fi connectivity so that users can manage and control them from tablet or smartphone locally or remotely. Home automation allows users to turn on the lights, turn down the heat, or even lock the doors, irrespective of the location. It offers different functions and services such as remote lighting control, thermostat control, fire and carbon monoxide monitoring, home automation security systems and cameras, appliance control, alarm systems, live video surveillance, real-time text, and email alerts.
Increasing electricity prices across the globe have significantly driven the global home automation market growth. Increased electricity prices have ultimately increased the household operating budget. Major end-users of home automation systems are hospitality industries and residential buildings. The major reasons behind the increased electricity prices are scarcity of natural resources and rising prices of commodities such as coal. With the help of home automation systems, consumers can regulate their usage and reduce their electricity expenditure. Other factors driving the global home automation growth are stringent government regulations, development of innovative and efficient energy systems, the rising importance of home monitoring from a remote location, increasing consumer awareness related to home automation solutions.
With increasing awareness of new home automation technologies and inclination towards a luxurious lifestyle in developing countries have surged global home automation market growth. The growing demand for features like the convenience of remote operation along with exceptional experience offered by smart home automation has scaled up the graph of global home automation market growth.
Key Segments of the Global Smart Home Automation Market
Application Overview, 2018-2025 (USD Billion)
Component Overview, 2018-2025 (USD Billion)
Technology Overview, 2018-2025 (USD Billion)
Regional Overview, 2018-2025 (USD Billion)
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global Smart Home Automation market. The report will benefit:
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Key Stakeholders
1.4 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Technological Overview
4.2.1 Home Automation Technology
4.2.1.1 Network Technology
4.2.1.2 Standards
4.2.1.3 Wireless Communication
4.2.2 Home Automation Systems
4.2.2.1 Luxury
4.2.2.2 Mainstream
4.2.2.3 Managed
4.2.2.4 DIY (Do It Yourself)
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Growing adoption of wireless technology
4.3.1.2 The rising importance of home monitoring from a remote location
4.3.1.3 Increasing awareness regarding the importance of home automation and home energy management measures
4.3.2 Market Restraints
4.3.2.1 Privacy & security concerns related to smart home automation
4.3.2.2 High cost of installing smart home automation solutions
4.3.3 Market opportunities
4.3.3.1 Development of advanced home automation solutions
4.4 Porter’s Five Forces Analysis
4.5 PEST Analysis
Chapter 5 Smart Home Automation Market by Application
5.1 Introduction
5.1 Global Smart Home Automation Market, by Application, 2019
5.1.1 Lighting Systems
5.1.2 Monitoring and Security
5.1.3 Entertainment
5.1.4 HVAC
Chapter 6 Smart Home Automation Market by Component
6.1 Introduction
6.2 Global Smart Home Automation Market, by Component, 2019
6.2.1 Hardware
6.2.2 Software
6.2.3 Services
Chapter 7 Smart Home Automation Market by Technology
7.1 Introduction
7.2 Global Smart Home Automation Market, by Technology, 2019
7.2.1 Wired
7.2.2 Wireless
Chapter 8 Smart Home Automation Market by Region
8.1 Introduction
8.2 Global Smart Home Automation Market, by Region, 2019
8.3 North America
8.3.1 US
8.3.2 Canada
8.4 Europe
8.4.1 Germany
8.4.2 France
8.4.3 UK
8.4.4 Rest of Europe
8.5 APAC
8.5.1 China
8.5.2 Japan
8.5.3 India
8.5.4 Rest of APAC
8.6 MEA
8.6.1 South Africa
8.6.2 UAE
8.6.3 Rest of MEA
8.7 South America
8.7.1 Brazil
8.7.2 Rest of South America
Chapter 9 Competitive Landscape
9.1 Overview
9.2 Strategic Initiatives
9.2.1 Mergers & Acquisitions
9.2.2 New Product Launch
9.2.3 Investments
9.2.4 Expansion
9.2.5 Others
Chapter 10 Company Profiles
10.1 Honeywell International
10.1.1 Overview
10.1.2 Products and Services Portfolio
10.1.3 Recent Initiatives
10.1.4 SWOT
10.2 Legrand
10.2.1 Overview
10.2.2 Products and Services Portfolio
10.2.3 Recent Initiatives
10.2.4 SWOT
10.3 Schneider Electric
10.3.1 Overview
10.3.2 Products and Services Portfolio
10.3.3 Recent Initiatives
10.3.4 Company Financials
10.3.5 SWOT
10.4 Johnson Controls
10.4.1 Overview
10.4.2 Products and Services Portfolio
10.4.3 Recent Initiatives
10.4.4 SWOT
10.5 Siemens AG
10.5.1 Overview
10.5.2 Products and Services Portfolio
10.5.3 Recent Initiatives
10.5.4 Company Financials
10.5.5 SWOT
10.6 ABB
10.6.1 Overview
10.6.2 Products and Services Portfolio
10.6.3 Recent Initiatives
10.6.4 SWOT
10.7 Control4
10.7.1 Overview
10.7.2 Products and Services Portfolio
10.7.3 Recent Initiatives
10.7.4 SWOT
10.8 Lutron
10.8.1 Overview
10.8.2 Products and Services Portfolio
10.8.3 Recent Initiatives
10.8.4 SWOT
10.9 Cisco Systems
10.9.1 Overview
10.9.2 Products and Services Portfolio
10.9.3 Company Financials
10.9.4 Recent Initiatives
10.9.5 SWOT
10.10 United Technologies
10.10.1 Overview
10.10.2 Products and Services Portfolio
10.10.3 Recent Initiatives
10.10.4 SWOT