Home Automation Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Automotive, Transportation and Logistics | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC449

Introduction

Home automation, also referred as smart home, is the extension of building automation system in residential property. Home automation comprises automation and control of lighting, HVAC (heating, ventilation and air conditioning) and security. It also involves control and automation of various home appliances and equipment such as refrigerators, ovens, dryers, washing machines and others. This is achieved by the use of intelligent terminals for controlling various equipment and appliances.

Market Dynamics

The rising concern of people towards security and protection against theft and increasing need for energy-saving along with increasing efficiency of various domestic appliances are the key factors driving the adoption of home automation, globally. Other factors attributed to the growth of market includes the essential growth and development in IoT applications, constant development of product portfolios for home automation, rising significance of remote monitoring and decreasing cost of home automation devices and systems. The home automation systems are gaining importance among various enterprises with the concern of protecting their commercial assets that include hardware infrastructures, buildings and others. However, home automation products are generally taken as simplifying daily activities instead of solving energy-efficiency problems. Also, many people are still not aware of the advantages delivered by home automation systems. Thus, these factors are hampering the growth of home automation market.

The rise in the adoption of smart handy devices for example, smart phones and tablets and their improved Internet connectivity has resulted to growth in the usage of these systems. Also, rapid development in wireless technology coupled with decreasing prices of home automation systems is also driving the market growth. Various devices in home automation that facilitates in providing home security includes video surveillance, intrusion detection system, monitor sensors, alarms and bit screens. Home automation products are generally considered as luxury services due to their high prices.

Market Classification

The home automation market is bifurcated by product, networking technology, type and geography. The product segment is classified into lighting control, security & access control, HVAC control, entertainment control and others. On the basis of networking technology, the market is segmented into wireless home automation systems, wired computing network home automation systems, home automation systems, and power-line home automation systems. The type segment is bifurcated into luxury, mainstream home automation systems, managed home automation services and Do-It-Yourself (DIY) home automations system. Geographically, the market is bifurcated into Europe, Latin America, North America, Middle East & Africa (MEA) and Asia-Pacific.

Regional Overview

The lighting control segment is projected to grow at a high rate in the coming years since it results in reducing the power consumption. Also, the rising environmental concerns and increased awareness for home automation system are the factors responsible for the surge in market growth. North America is leading the market for home automation followed by Europe. The growth in North America is due to the region’s rapid adoption of technology and increased awareness towards power-saving. Additionally, the spending capacity of people for luxury services is also influencing the home automation market in this region. Whereas, the growth in Europe is attributed to the stringent regulations by European government for energy conservation. Asia-Pacific is anticipated to experience high growth in coming years owing to the rising number of construction of new residential projects. Also, countries such as China, Japan and South Korea are experiencing a substantial demand for home automation systems thus, propelling the market growth in Asia-Pacific.

Report Coverage

Market

Global Home Automation Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Product, Networking Technology, Type, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

Some of the major companies operating in home automation market includes Siemens AG, iControl Networks Inc., Vantage Controls, Crestron Electronics Inc., Schneider Electric SA, Technologies Corporation, Johnson Controls, 2GIG Technologies, Honeywell International, Inc., ABB Ltd., ADT Corporation, Control4 Corporation and AMX LLC among others.

Market Segmentation

Market By Product

·         Lighting control

·         Security & access control

·         HVAC control

·         Entertainment control

·         Others

Market By Networking Technology

·         Wireless home automation systems

·         Wired computing network home automation systems

·         Home automation systems

·         Power-line home automation systems

Market By Type

·         Luxury

·         Mainstream home automation systems

·         Managed home automation services

·         Do-It-Yourself (DIY) home automations system

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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