Home Automation Market Size - Global Industry Share, Analysis, Trends and Forecast 2022 - 2030

The Global Home Automation Market size Accounted for USD 53.4 Billion in 2021 and is predicted to be worth USD 136.5 Billion by 2030, with a CAGR of 11.2% during the projected period from 2022 to 2030.

Home automation delivers high-end solutions and automates our products and systems with advanced digital technologies. Home automation provides better efficiency and improved performance to automate the system's domestic and household activities. Consumers want to customize, professional systems that are easy to use and installed.

Building automation industry developments, which saw the introduction of advanced technology and equipment, also called smart home and intelligent building, have changed the way products and services are delivered. These technologies have been the center of continuous research and development in order to compatibilize the product with Smart & Sustainable Home and Building projects with a focus on improving consumer experience. The global adoption of domestic controls increased technological advances and improved connectivity solutions. The installation of automated control systems has been simplified with the advent of different wireless technologies such as ZigBee and Bluetooth. The adaptability of different components with each other has been increased by different standards for home automated controls such as EnOcean and Z-waves. Further improvements of the automation systems in various end user segments are expected to fuel their adoption.

Global Home Automation Market DRO’s

Market Drivers

• Rapid growth and development in the popularity of Artificial intelligence
• Increasing homeownership among millennial consumers worldwide
• A growing number of smart city infrastructure and facilities in emerging economies
• The rise in the number of smartphones and internet penetration

Market Restraints

• High costs related to the acquisition and implementation of home automation
• The dearth of pre-installed home automation and availability in pre-built homes

Market Opportunities

• Rapid urbanization is occurring in developing nations.
• Rising relevance of IoT technology in home automation

Home Automation Market Report Coverage

The most important motivators driving growth in the home automation market are increasing demand for smart phone-based home automation applications, increasing consumer awareness about energy consumption products, technologic advances, convenience factor, fast mobile connectivity, urbanization and lifestyle changes. As home automation provides security, safety and advanced technology, demand has increased for home automation. The smart domestic automation market over the forecast is expected to be driven mainly by the increasing demand for digital features, such as remote operation convenience, with advanced technological devices, and the increasing impact of the web, mainly in the developing world. Moreover, the growing demand for smart home automation global markets in the coming years will also increase the available income plus increased preference for priceless lives in developing economies.

In addition, the cost reduction measurements that also develop demand for market in both developed and developed economies facilitate smart home automation systems. Home automation involves the implementation of certain electronics and electrical systems in a degree of automation and computerized control. These devices include garage doors, safety systems, control of temperature, video / audio equipment, electronic doors and lighting. The system can be operated by devices such as laptop or Mobile Telephone that are enables Wi-Fi or Bluetooth, whereas a desktop computer is a server. Hardware costs, as are the hardware required for most users, and installation costs are considerably low. The home automation solution satisfies different applications ' interoperability requirements and is at the same time easy to use and install. The biggest driver is expected to be the increase in the aging population. The market's growth can be challenged by high initial installation or installation costs and lack of standard guidelines. However, this challenge could be overcome by the corresponding decline, price and increase in home automation. Growing consumer electronics interests, increasing consumer availability income, introducing smart grids and helping to communicate power line are some of the factors which can drive growth in the market positively. But unethical technological violations, a lack of consumer awareness and skills could pose a challenge for the growth of the market.

Home Automation Market Segmentation

The global home automation market segmentation is based on the application, technology, channel, and geographical region.

Market by Application

• Safety and Security
  • Video Surveillance
    • Hardware
      • Security Cameras
      • Monitors
      • Others
  • Software
  • Services
• Access Control
  • Biometric Access Control
    • Facial Recognition
    • Iris Recognition
    • Fingerprint Recognition
    • Others
  • Non Biometric Access Control
• Lighting System
  • Drivers & Ballasts
  • Relay
  • Sensors
  • Dimmers
  • Switches
  • Others (Accessories)
• Entertainment System
  • Home Theater System
  • Audio Video Control Systems
  • Others
• Heating Ventilation and Air Conditioning (HVAC)
  • Actuators
  • Sensors and Transducers
  • Control Valve
  • Thermostats
  • Energy Meter
  • Others
• Other Controls
  • Smart Locks
  • Smoke Detector
  • Smart Plugs

According to the home automation market forecast, the entertainment system segment will grow at the strongest rate in the market over the next few years. It can regulate television and multimedia sources. This can be related to the expanding number of options accessible on the marketplace, such as Amazon Echo, Google Home, and so on, as well as consumers' willingness to purchase them.

Market by Technology

• Wired
  • Power Line Communication (PLC)
  • Ethernet
  • Fiber Optics
• Wireless
  • ZigBee
  • Wi-Fi
  • Bluetooth
  • Others
• Others

Based on technology, the wireless segment is expected to increase significantly in 2021. This is related to the increased popularity of wireless systems for home automation and the ease of installing them as well as using them. Furthermore, wireless smart home devices with IoT are a cutting-edge the internet of things applications intended to manage household appliances remotely via the web application.

Market by Channel

• Luxury
• Mainstream
• DIY
• Managed

According to the home automation industry analysis, the mainstream segment is expected to account for a significant market share in 2021. This is owing to the increasing cost and simplicity of such systems for home automation. Such systems provide consumers with protection, convenience, comfort, as well as energy consumption by leveraging the growing ubiquity of gadgets, which are typically controlled via a single code base on their smartphones or even other connected technologies.

Home Automation Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa