Global Home Automation System Market
The GMI Research forecasts that the Home Automation System Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the rise in awareness concerned with efficient energy usage.
Introduction of the Home Automation System Market
Home automation systems are the modernizations to the mechanization processes wherein human efforts with the machinery equipment are required to operate various loads in homes. It involves automatic control of home appliances using different technologies and controllers over desktops, laptops, smartphones, or tablets.
Key Players of the Global Home Automation System Market:
- Honeywell International, Inc.
- Control4 Corporation
- Legrand S.A.
- Crestron Electronics Inc.
- Johnson Controls, Inc.
- Lutron Electronics, Inc.
- Siemens AG
- Ingersoll-Rand Plc
- Schneider Electric SE
- ABB Group
Home Automation System Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The home automation system is expected to observe a significant demand in the coming years. The growth in the market is mainly attributed to the increase n electricity prices persuading the consumers to choose these systems to conserve energy along with the various strategic initiatives by the government in emerging economies to stimulate efficient usage and power management. For example, China’s five-year plan targets energy efficiency projects, and the European 2020 initiative emphasizes on attaining net-zero energy consumption in public and private buildings. These aggravating norms executed by several governments are supporting the market growth. Also, the extension in the product portfolio by several leading multinational producers to cater to the altering demand of end-users and ongoing product development have propelled the market growth. In addition, other factors like the increasing integration of IoT, accelerating penetration of smartphones and the internet, together with the intensifying trend of monitoring from distant locations, are strengthening the home automation system market size. On the other hand, the high initial installation cost will hinder the market share.
Product Segment Drivers
Based on the product, entertainment and other controls are likely to expand faster during the forecast period due to the outrageous demand for smart meters and smoke detectors among the consumers. The escalating popularity of smart plugs, smart hubs, and smart locks will raise the market demand. Leading players, including Elan Home Systems, Creston Electronics, Inc., and Leviton Manufacturing Co, Inc., are focussing on innovation to gain a competitive advantage over other players. Additionally, the expansion in the product portfolio will allure customers looking for modernized entertainment systems such as smart speakers.
Software & Algorithm Segment Drivers
Based on the software & algorithm, proactive is contemplated to account for the largest share over the forecast period. These solutions are designed to allow users to understand energy patterns and take necessary measures to decrease their energy consumption. They are lodged with web-based software and displays to offer accumulative information to the users, including trends of energy usage, alarms, and goal tracking.
Regional Drivers
Based on the regional coverage, Asia-pacific is projected to dominate the market shortly due to the accelerating number of residential construction projects accompanied by the need to strengthen the building infrastructure across the Asian countries. The swiftly soaring population rate in countries such as Japan and South Korea is increasing the market demand. Moreover, the proliferating demand for energy management systems to save energy and reduce the electricity bill will supplement the home automation system market share.
Home Automation System Market Segmentation:
Segmentation by Product
- Lightning Control
- Relays
- Occupancy Sensors
- Daylight Sensors
- Timers
- Dimmers
- Switches
- Accessories and Other Products
- Security and Access Control
- Video Surveillance
- Hardware
- Security Cameras
- Storage Devices
- Monitors
- Accessories
- Software/Video Analytics
- Services
- Access Control
- Biometric Access Control
- Facial Recognition
- Iris Recognition
- Fingerprint Recognition
- Others
- Non-Biometric Access Control
- HVAC Control
- Smart Thermostats
- Sensors
- Control Valves
- Heating and Cooling Coils
- Dampers
- Actuators
- Pumps & Fans
- Smart Vents
- Entertainment and Other Controls
- Entertainment Control
- Audio, Volume, & Multimedia Controls
- Home Theatre System Controls
- Touchscreens and Keypads
- Other Controls
- Smart Meters
- Smart Plugs
- Smart Hubs
- Smart Locks
- Smoke Detectors
Segmentation by Software & Algorithm
- Behavioural
- Proactive
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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