According to IMARC Group latest report titled “Home Automation System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, offers a comprehensive analysis of the industry, which comprises insights on home automation system market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The market reached a value of US$ 60.2 Billion in 2020. The global Home Automation System market to grow at a CAGR of 8.7% during 2021-2026.
A home automation system, also called domotics, represents the computer-dependent control system designed for automatically controlling several electronic devices installed in a home. It generally includes the computerization of lighting, heating, ventilation and air conditioning (HVAC) equipment and fire, alarm, and security systems. Home automation systems enable homeowners to monitor and automate various appliances around the house with the touch of a button. They sensors, actuators, control devices, etc., for detecting triggers and sending data to the central controller.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The rising consumer security concerns and the growing prevalence of thefts in residential areas are inflating the need for safety and compliance, which is primarily driving the home automation system market. In addition to this, the launch of numerous favorable policies by government bodies to promote the efficient usage of energy is augmenting the adoption of automation systems and, in turn, further catalyzing the market growth. Moreover, the increasing popularity of green buildings that are environmentally beneficial and resource-efficient is acting as another significant growth-inducing factor. Besides this, the emerging trends of home renovations and redecorations are also positively influencing the global market. Furthermore, the introduction of wireless and technologically advanced product variants that can be monitored via smartphones, on account of the elevating internet penetration and improvements in network infrastructures, is anticipated to fuel the home automation system market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Siemens AG
- Honeywell International, Inc.
- Johnson Controls, Inc.
- Schneider Electric SE
- Legrand SA
- Ingersoll-Rand PLC
- ABB Ltd.
- Acuity Brands, Inc.
- Samsung Electronics Co., Ltd.
Home Automation System Market Segmentation:
Our report has categorized the market based on region, application and type.
Market Breakup by Application:
- Lighting control
- Security and access control
- HVAC control
- Entertainment and other controls
Market Breakup by Type:
- Luxury (Custom)
- Mainstream
- DIY (Do-It-Yourself)
- Managed
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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