Global
Home Automation Market is expected to grow at a higher CAGR in the forecast
period due to the rise in demand for high-tech home appliances. Home appliances
are high end products that use advanced digital technology for automation of
products and systems. Advantages in using home automation systems include
better efficiency and enhanced performance in automating home or household
activities to centralize the control system.
Today’s
consumer expects customize systems and demand professionally installed systems
which is easy and convenient for them to use. Devices such as fans, television
sets, air conditioners, motors, heater, lighting systems etc are the ones that
are typically used in residences. Commercially, with the increase in energy
consumption & population, the need to conserveenergy is much desired. Users
normally use a web or android application to give instructions to these
systems.
Technologies
such as Wi-Fi, GSM, Bluetooth and ZigBee are used in some communication methods
to control the devices and configurations. Such remotely enabled devices are
particularly available in the market for end-users and cater to multiple
objectives. Overall, the market growth for home automation industry is
anticipated to rise at a double-digit CAGR in the forecast period.
Home
automation industry is driven by factors such as need for high-performing
alternatives for residential applications used for lighting, energy,
entertainment, safety and HVAC. Safety and security segment is expected to rise
at a higher CAGR in the forecast period. Additionally, the energy-conscious
population in need for better energy management solution is gaining traction.
Therefore, this factor is anticipated to drive the market in the forecast
period.
Home
automation Industry is segmented into lighting, safety and security, HVAC,
entertainment, robotics and health care, based on application. Based on
networking technology, the home automation industry is segmented into wired
home automation systems, computing network home automation systems, power-line
home automation systems and wireless home automation systems.
Based
on product, the home automation industry is segmented into lighting control,
relays, occupancy sensors, dimmers, timers, switches, security access &
control, video surveillance, hardware, cameras, monitors, accessories,
software/video analytics, services and access control. Based on software &
algorithm, the home automation industry is segmented into behavioral and
proactive.
Home
automation market is segmented into mainstream home automation system, luxury
home automation systems, managed home automation systems, and DIY (Do it
yourself) home automation systems. Based on geography, the home automation
industry spans North America, Latin America, Europe, Middle-East and Africa.
North America dominates the market and is likely to continue dominating in the
forecast period owing to high-tech end-user solutions.
APAC
regions are expected to rise at a higher CAGR in the forecast period owing to
rise in manufacturing sector and availability of large market. The key players
in the home automation market include Crestron Electronics Inc., 2GIG
Technologies, iControl Networks Inc., ADT Corporation, AMX LLC, Control4
Corporation, Siemens AG, Honeywell International Inc, Johnson Controls, Vantage
Controls, and Schneider Electric SA.
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