Home Automation System Market

Home Automation System Market worth $63.2 billion by 2025

The report "Home Automation System Market with COVID-19 Impact Analysis, By Management, Product (Lighting Control, Security & Access Control, HVAC Control, Entertainment & Other Controls), Software & Algorithm, and Region - Global Forecast to 2025", is projected to grow from USD 40.8 billion in 2020 to USD 63.2 billion by 2025; it is expected to grow at a CAGR of 9.1% from 2020 to 2025.

Browse 121 market data Tables and 72 Figures spread through 233 Pages and in-depth TOC on "Home Automation System Market with COVID-19 Impact Analysis, By Management, Product (Lighting Control, Security & Access Control, HVAC Control, Entertainment & Other Controls), Software & Algorithm, and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/home-automation-control-systems-market-469.html

The most significant factors driving the growth of the home automation system market include growing home ownership among millennials worldwide,  lower insurance costs for homeowners investing in home security systems and increasing services offered by telecommunication companies, increasing use of home automation systems among the elderly population, rapid urbanization in developing countries, and rising significance of IoT technology in home automation

On-premises management to hold the largest share of home automation system market during forecast period

On-premises management was the only system available for home automation for many years. These systems are still used for HVAC, security and access control, and entertainment systems. They are ideal for connecting to a large number of smart devices from a single source. New homes generally have preinstalled on-premises management systems. Hence, the market for on-premises management held a larger share of the market in 2019. On-premises management systems consist of a central hub that controls all the home automation systems in the home. It allows the user to control lights, thermostat, HVAC, audio and video streaming devices, and other home appliances from a single source. This type of home automation system is most popular in upscale private residences that have a large number of smart devices. This management system is also widely used with home automation security systems. On-premises central control systems are run through a wall-mounted terminal. This setup is also commonly used for home security systems. The central hub can also be accessed by a remote-controlled device, smartphone, tablet, or computer.

Entertainment & other control segment to hold the largest share of home automation system market during forecast period

The entertainment & other controls segment held the largest share of the home automation system market in 2019. Automated home audio and volume controllers are used to control the audio and video played in the house or to customize what is playing in each room individually. There are numerous commercial systems that can be purchased in the market, or the user can also get a system custom-built or homemade. The emergence of voice-controlled speakers such as Google Home and Amazon Echo has greatly expanded the market for entertainment controls. Other controls include smart meters, smoke detectors, smart plugs, smart window blinds, smart locks, and smart hubs which are commonly found in many homes as they are standalone devices.

Behavioral type of software and algorithm segment to hold the largest share of home automation system market during forecast period

Behavioral type of software and algorithm analyzes energy-related data from various home automation devices and sensors and forwards it to the end users. This category of software and algorithm is restricted to transmitting and receiving the data and does not perform intelligent actions, unlike the proactive type. Moreover, it provides direct feedback to the end user, thereby providing basic information regarding the real-time energy data as well as the historical data of energy usage. This type of software and algorithm has limited data processing that is useful for consumers. The smart energy meter is one such device that is exclusively behavioral type. Smart energy meters provide real-time data about the energy consumption of various devices in the house. The data that can be accessed through a smartphone or a touchscreen panel is only for monitoring energy usage by the homeowners. Open-source software such as openHAB and Home Assistant are examples of behavioral software and algorithm. They mainly provide control and usage statistics for various home automation systems.

North America to hold the largest share of home automation system market during forecast period

Factors such as the increasing demand for reliable home energy management systems; enhanced home security levels; improved device standards; and the growing popularity of integration of smart devices, such as tablets, smartphones, and standalone voice assistants, in homes are driving the market in North America. This region is also home to some of the key players in the global home automation system market, such as Resideo (US), Acuity Brands (US), ADT (US), Control4 (US), and Crestron Electronics (US). This is expected to further boost market growth during the forecast period. The COVID-19 pandemic is expected to affect North America the most, while the market in APAC is expected to be the least impacted. The North American real estate market witnessed a sharp decline in the first and second quarters of 2020, resulting in fewer home purchases despite the fall in house prices. Real estate prices are expected to drop to 10% during the pandemic due to reduced real estate bookings. As a result, many existing and potential home automation buyers in North America are deferring their purchases during the pandemic to avoid excess spending.

Major players in the home automation system market are Resideo (US), Legrand (France), Schneider Electric (France), Johnson Controls (Ireland), Siemens (Germany), Ingersoll Rand (US), ABB (Switzerland), Leviton Manufacturing Company (US), Control4 (US), Crestron Electronics (US), Acuity Brands (US), Lutron (US), Remote Technologies Incorporated (US), Elan (US), ADT (US), AMX (US), Develco Products (Denmark), Vantage Controls (US), Savant Systems (US), and SmartThings (US). The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global precision farming market.

Don’t miss out on business opportunities in Home Automation System Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 3065
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Home Automation System Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2022 MarketsandMarkets Research Private Ltd. All rights reserved

Digital Virtual Assistant - MarketsandMarkets