Global Home Automation Market by 2023 Growth Analysis of all Top Key Players Like Siemens AG, Honeywell International, Inc., Johnson Controls Inc., Schneider Electric SE and Legrand

The global home automation system market has witnessed a healthy growth over the past few years. Some of the major driving forces include government regulations, increasing focus on green building projects and increasing standards of living.

Want more information about this market? Request a free report sample: https://www.imarcgroup.com/request?type=report&id=719&flag=B

IMARC Group’s latest report, titled “Global Home Automation System Market Report and Forecast (2018-2023)”, finds that the global home automation system market reached a value of US$ 48.1 Billion in 2017, growing at a CAGR of nearly 8% during 2010-2017. Throughout the history, humans have been continuously struggling to make their lives easier and comfortable. Technological advancements have finally provided homeowners with a fully automated solution which enables them to control, monitor and automate various appliances and systems around the house with the touch of a button. Home automation systems offer numerous benefits such as energy efficiency, high security, increase in the comfort level of the end-user and a centralized management facility.

Highlights of the Global Home Automation System Market:

* Increasing focus on green building projects and aspirational lifestyles remain the primary growth driving factors.

* On the basis of application, Security & Access Control Systems account for the majority of the market share.

* North America holds the majority of the global share, representing the largest market.

Two of the major factors for the growing popularity of home automation systems is the fact that they help in the reduction of CO2 emissions. In addition, governments across the globe have also imposed several stringent regulations to counter environmental issues, thereby, encouraging house owners, building owners and facility managers to install automation and control systems. Moreover, aspirational lifestyles and a drive to achieve a high standard of living are further influencing the consumers to invest in sophisticated technologies. Some of the other driving factors include growing disposable incomes, urbanization and industrialization rates, internet penetration and an increasing focus on green building projects. According to the report, the market is further expected to reach a value of more than US$ 78.5 Billion by 2023.

Get more information about the market: https://www.imarcgroup.com/home-automation-system-market

Global Home Automation Market Segmentation:

Market by Application:

1. Lighting control

2. Security and access control

3. HVAC control

4. Entertainment and other controls

The market has been segmented on the basis of application. Security & Access Control Systems currently represent the dominating segment accounting for nearly a half of the total global market.

Market by Type:

1. Luxury (custom) Home Automation Systems

2. Mainstream Home Automation Systems

3. DIY (Do-it-yourself) Home Automation Systems

4. Managed Home Automation Systems

Based on type, Managed Home Automation Systems account for around two-third of the overall market.

Market by Distribution Channels:

1. Specialty Stores

2. Departmental Stores

On the basis of distribution channels, the market has been segregated into specialty stores, departmental stores, online stores, hypermarkets and supermarkets, and others. Amongst these, specialty stores represent the biggest distribution channel.

Performance of Key Regions:

1. North America

2. Europe

3. Asia

4. Rest of world

Region-wise, North America is the largest contributor to the global home automation system market, accounting for more than a half of the total global share. The other major markets include Europe and Asia.

Competitive Landscape:

Some of the key players operating in the market are Siemens AG, Honeywell International, Inc., Johnson Controls Inc., Schneider Electric SE and Legrand.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact us

IMARC Group
309 2nd St, Brooklyn, NY 11215, USA
Website: www.imarcgroup.com
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal

This release was published on openPR.