Global Home Automation Market will be worth US$21.6 billion by 2020

`Transparency Market Research has published a new research report on the global home automation market. The research report states that the global home automation market stood at US$4.41 bn in 2013 and will rise to US$21.6 bn by 2020, growing at a CAGR of 26.3% in the forecast period.The report, titled “Home Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, offers a comprehensive overview of the global home automation market, its key market drivers, restraints, opportunities, and threats.

Technology of Home Automation and Its Rise: http://tinyurl.com/lw6jqem

Advancements in technology are inspiring architects across the globe to build automated homes. As these modern homes evolve, they are unstoppably driving the global home automation market. Modern homes are using high-tech solutions for installing automated solutions that will help then run several programs in the homes with a single application. Most of these applications are powered by electricity and are controlled manually. For example, dimming lights, controlling the AC or HVAC system, locking and unlocking doors, and operating other such household functions from a central hub device is possible with home automation solutions.

The key driver for the global home automation market is the pressing need for high-performing solutions for domestic applications utilized in areas of safety, lighting, energy, entertainment, and HVAC. This market is also being supported by the growing Internet penetration in countries such as France, the U.K., and Germany. The safety and security segment has been earning the highest revenue so far in the global home automation market.In the coming few years, the energy-conscious population, who need better energy management solutions, will opt for automated applications. Additionally, increasing usage of smartphones, tablets, and other handheld devices is also adding to the convenience of establishing home automation in newer constructions. The market research report states that North America leads the global home automation market and is likely to remain in this position through 2020. Adoption of new technologies and consumer awareness will be the two most important factors driving the home automation market in North America. This segment will be followed by Asia Pacific and Europe as they will together account for 40% of the total home automation market.

The report gives a perfect analysis of the competitive landscape in the global automation market by putting forth the company profiles. It also provides an overview of the financial strategies, research and development activities, investment plans, and product portfolios of these companies. Some of the key players studied in the global home automation market research report are Honeywell International Inc., 2GIG Technologies, iControl Networks Inc., Crestron Electronics, Inc., ADT Corporation, AMX LLC, Control4 Corporation, Siemens AG, Johnson Controls, Vantage Controls, and Schneider Electric SA. With accurate segmentation of the global home automation market, the market research report gives its readers a bird’s eye view of the dynamic trends in the market that are about to have an impact on its shape.

Importance of Home Automation: http://bit.ly/2ab9XJ3

The global home automation market is segmented on the basis of following categories:

Home Automation Market: By application

Lighting
Safety and security
HVAC (Heating, Ventilation, and Air-Conditioning)
Entertainment (Home audio and video)
Others(Robotics, heath care)

Home Automation Market: By networking technology

Wired home automation systems
Power-line home automation systems
Computing network home automation systems
Wireless home automation systems

Home Automation Market: By type

Luxury (custom) home automation systems
Mainstream home automation systems
DIY (Do It Yourself) home automation systems
Managed home automation services

Home Automation Market: By geography

North America
Europe
Asia Pacific
Rest of the World

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.