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Global Home Automation Market | Industry Leading Players - Honeywell International Inc., Google Inc., ABB Ltd., Johnson Controls, Inc., Ingersoll-Rand plc, Schneider Electric SE, AMX LLC, Crestron Electronics, Inc., 2GIG Technologies, United Technologies
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The readers will gain an in-depth understanding of the various market trends and drivers that can result in the global market growth. In addition, market dynamics are also covered in the report including driving factors, key opportunities, market trends, and factors hampering the growth of the market. As per active research evaluations, the market for home automation is forecast to grow progressively and reach a valuation of US$ 116.26 Bn by 2026 from US$ 64.67 Bn in 2017, at a CAGR of 6.8% during the forecast period of 2018-2026.
It has been analyzed that advancements in building automation are growing rapidly with upgraded devices and technology, also known as Smart Home and Smart Building. With the focus on improving consumer experience, these technologies are observing constant R&D to equip the products as per compatibility with Smart & Sustainable Home and Building projects. This is contributing majorly towards market growth of home automation. On the basis of geography, the study reveals that home automation is undergoing technological advancement in the U.S. and Western Europe. This is considered to be a noticeable factor fueling the growth of the home automation market in North America and Europe.
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Apart from regional insights, the global home automation market is broadly segmented by application, technology, and channel. Based on application, the market is segmented into lighting system, entertainment system, safety and security system, heating ventilation and air conditioning, and other controls. Based on technology, the study covers wired and wireless. As per the research findings, wireless segment is anticipated to lead throughout the forecast period. On the other hand, safety and security application of the market is scrutinized to grow at a prominent growth rate until the end of 2026.
The final section of the study presents an exhaustive analysis focusing on the prime players operating in the global home automation market. Key players are Honeywell International Inc., Google Inc., ABB Ltd., Johnson Controls, Inc., Ingersoll-Rand plc, Schneider Electric SE, AMX LLC, Crestron Electronics, Inc., 2GIG Technologies, United Technologies Corporation, Control4 Corporation, Siemens AG, Lutron Electronics Co., Inc, Legrand SA, Savant Systems LLC, ADT LLC, Amazon Inc., and SmartThings Inc.
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