The global Home Automation Market size is projected to reach USD 78.4 billion in 2028 from USD 52.9 billion growing at a CAGR of 16.39% from 2022-2028.
Home automation is utilization of intelligent terminals to control home appliances and equipment. It includes but is not limited to centralized control of lighting, security checks/locks for home access, HVAC control, and others. Home automation is also known as smart home automation, which is an automation system, which offers access to control appliances and devices such as lights, fan, alarm system, heating & cooling systems, and electrical outlets with a smartphone.
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Smart home automation market growth is driven by the benefits it provides to end-users, including lower energy consumption, theft protection, and protection against illegal access to the home. Smart home automation solutions are becoming increasingly popular in the residential and hotel sectors for protecting personal and commercial assets like buildings, hardware infrastructures, personal possessions, and so on.
Recent Developments
- January 2018-Interlogix, a part of United Technologies announced new feature and new components of its Ultra Sync Smart Home system that provides homeowners with improved homer security and automation solutions.
- August 2020-ADT Inc. announced a long-term partnership with google LLC to offer smart home security solutions cross the United States. Moreover, google has invested USD 450 million in ADT Inc. in order to boost home security solution.
- The New Powerview Gen 3 Gateway and Remote Control from UEI and Hunter Douglas is now available. The new method has been totally redesigned to make automatic shading easier, more reliable, more scalable.
- Interior design firm French California has teamed with Google to present its Nest smart-home gadgets in a series of showcase apartment interiors at Selene, Foster + Partners' 63-story residential tower in New York.
- Vivint Has Emerged As The Biggest Smart Home Player. Vivint was valued at over $2 billion in late 2012, and it hit $650 million in revenue in 2015.
Prominent Players
- ABB
- ADT
- Creston Electronics, Inc.
- Honeywell International Inc.
- Ingersoll Rand
- Johnson Controls
- Larsen & Toubro Ltd.
- Legrand
- Samsung Electronics Co., Ltd.
- Schneider Electric
- Universal Electronics Inc.
- Vivint
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Asia Pacific to Dominate the Market
A huge consumer base and established manufacturers in the North American region are expected to make it the most significant regional segment over the projected period. The area has the greatest profit share and is anticipated to expand at a CAGR of over 9.7% between 2022 and 2028. Over the projected period, it is anticipated that North America, Europe, and Asia-Pacific regions will continue to be the major revenue-generating segments.
Home Automation Market Segmentation:
On the basis of Application
· Lighting
· safety & security
· HVAC
· Entertainment
· Others
On the basis of Technology
· Wired
· Wireless
On the basis of End User
· Residential
· Commercial
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
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