Press release
Smart Home Automation Market Size is Expected to Exhibit USD 203.3 billion by 2026: outstanding key players - Johnson Controls, ABB Ltd., Ingersoll-Rand plc, Schneider Electric, Legrand SA, Crestron Electronics, Inc., Siemens AG, Honeywell International,
The worldwide Smart Home Automation Market is anticipated to reach around USD 203.3 billion by 2026 according to a new research. In 2017, the entertainment segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global Smart Home Automation market.
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The rising concerns regarding energy efficiency has increased the adoption of smart home automation. Smart home automation systems maintain the controls of home equipment to maximize energy efficiency. For instance, the thermostat uses a temperature threshold to govern the homes heating and cooling system. They can also be programmed with different target temperatures to keep energy usage at a minimum.
The growing demand for remote monitoring of homes, along with increasing costs associated with energy use increases the demand for smart home automation. The increasing use of mart home automation in the development of smart cities, along with government regulations regarding energy use and emissions support the smart home automation market growth. The rising adoption of Internet of Things, and smart devices boosts the adoption of smart home automation. Other factors driving the market growth include growing penetration of mobile devices, technological advancements, and development of smart cities. New emerging markets, emerging consumer demographics, and increasing awareness among consumers regarding efficient energy use would provide growth opportunities for smart home automation market in the coming years.
The companies operating in the smart home automation markett include Johnson Controls, ABB Ltd., Ingersoll-Rand plc, Schneider Electric, Legrand SA, Crestron Electronics, Inc., Siemens AG, Honeywell International, Inc., Control4 Corporation, and Leviton Manufacturing Company, Inc. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
In 2017, North America accounted for the highest share in the global smart home automation market. The primary factors driving the smart home automation market growth in the region include established telecommunication industry and cloud infrastructure, rising penetration of mobile devices, technological advancements, and high investment in R&D. The introduction of favorable government regulations regarding energy usage and emissions, and rising awareness regarding use of energy efficient equipment boost the smart home automation market in North America. The increasing concerns regarding safety and access control, increasing development of smart cities, and growing adoption of connected devices and IoT further increase the demand of Smart Home Automation in the region.
Table of Contents
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
1.5. Stakeholders
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Smart Home Automation Market Insights
3.1. Smart Home Automation Industry snapshot
3.2. Smart Home Automation - Ecosystem analysis
3.3. Smart Home Automation Market Dynamics
3.3.1. Smart Home Automation Market Forces
3.3.1.1. Smart Home Automation Market Driver Analysis
3.3.1.2. Smart Home Automation Market Restraint/Challenges analysis
3.3.1.3. Smart Home Automation Market Opportunity Analysis
3.4. Industry analysis - Porter's five force
3.4.1. Bargaining power of supplier
3.4.2. Bargaining power of buyer
3.4.3. Threat of substitute
3.4.4. Threat of new entrant
3.4.5. Degree of competition
3.5. Smart Home Automation Market PEST Analysis, 2016
3.6. Smart Home Automation Market Value Chain Analysis
3.7. Smart Home Automation Industry Trends
3.8. Competitive Ranking Analysis
4. Smart Home Automation Market Size and Forecast by Component, 2018-2026
4.1. Key Findings
4.2. Hardware
4.3. Software
4.4. Services
5. Smart Home Automation Market Size and Forecast by Technology, 2018-2026
5.1. Key Findings
5.2. Wired
5.3. Wireless
6. Smart Home Automation Market Size and Forecast by Channel, 2018-2026
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