Home Automation System Market

Market Leadership - Home Automation System Market

The home automation system market 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. Growing home ownership amongmillenials  is one of the primary factors for the installation of home automation systems. Home automation technology is also being increasing used for monitoring and assisting the elderly due to growing elderly population worldwide. The increase in consumer awareness in home automation systems is also attributed to other complementary markets such as telecommunications and insurance. Insurance companies are offering attractive discounts to house owners having inbuilt access control and security systems in their residential complex.

Although the home automation system market is growing at a steady pace, it is moderately competitive owing to the presence of several key global players, as well as several new players playing a key role in the growth of the market, especially for DIT home automation systems. Key strategies adopted by these players to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches and acquisitions. For instance, in September 2019, at IFA 2019 trade show, ABB (Switzerland) announced the new [email protected] Alarm-Stick and the certified integration of Sonos with ABB i-bus KNX. The company has developed such new and improved solutions to take smart home living to the next level, so that customers rely on ABB technology for a safe, smart and sustainable way of living. In April 2019, Siemens (Germany) expanded its Gamma instabus KNX-based product line with new switch actuators with load current detection, new switching/dimming actuators and new sun protection actuators. The new actuators are designed for residential and commercial buildings and provide reliable switching and monitoring of loads, switching and dimming of fluorescent lamps. In June 2019, Resideo (US) announced the acquisition of Lifewhere (US) that leverages machine learning and analytics to predict potential failure on critical home appliances, expanding remote monitoring and predictive maintenance capabilities of Resideo.

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Legrand (France) is one of the global leaders in electrical and digital building infrastructures. It offers a wide range of more than 300,000 product lines and systems for electrical and digital infrastructures utilized in residential, commercial, and industrial buildings. The company has three end user segments; Tertiary, Residential, and Industrial. Home automation products are offered under the Residential segment.

Legrand offers multiple solutions to manage lighting, energy, networks, and building access. Legrand offers various home automation products & solutions. The company’s offerings include switches, power sockets, VDI sockets, circuit breakers, lighting management, security systems, and video door systems, among others. Legrand offers multiple solutions for the automation and control of lighting & temperature, such as automatic switches, lighting management systems, room thermostats, and multi-zone systems that automatically set the temperature according to the use of each zone. A few notable products offered by the company are Classe 100x and Classe 300x door entry systems, Drivia smart electrical panel, Céliane connected switches, Smarther smart thermostats, Nuvo audio systems, and My Home residential automation systems, which allows users to manage lighting, security, heating, and audio distribution using the MyHOME_Up app.

Legrand operates on a global market, with facilities in over 90 countries and products sold in nearly 180 countries. The company’s subsidiaries include NuVo Technologies (US), CP Electronics (UK), Btinco GmbH (Germany), Legrand India, and Shidean Legrand (China).

Johnson Controls (Ireland) comprise products and services for building solutions (including control systems, security systems, fire detections systems, and other equipment and services) and global products (including HVAC equipment and control systems for residential & commercial applications). Johnson Controls broadly operates under four business segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products. All business segments of the company deal with the home automation system market.

The company sold off its Power Solutions division in November 2018. The global products business segment of the company manufactures and markets a wide range of humidity transmitter devices. The company also provides complete technical assistance and energy management consultancy for heating, ventilating, and air conditioning (HVAC) systems; building management systems; controls; security; mechanical equipment; residential air conditioning and heating systems; and industrial refrigeration; among others. The business primarily caters to the needs of HVAC and building automation industries. Luxaire, Coleman, York, and Guardian are some of the notable brands under its wide range of offerings for HVAC equipment and controls in the residential marketplace.

Johnson Controls is an international organization serving customers in more than 150 countries, with direct operations in approximately 70 countries. Some of the company’s subsidiaries include Johnson Controls India Private Limited, Johnson Controls UK, and Johnson Controls Saskatoon Office (Canada).

Related Reports:

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

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Report Code
SE 3065
RI Published ON
11/24/2020
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