Press release
Home Automation Market Global, Emerging Trends and Technologies, Future Scope, Industry Growth Forecast by 2023
Home automation
Surge in smartphone-controlled applications that can monitor home appliances remotely, rise in concerns regarding safety and security of homes, increase in government initiatives as home automation system ensure efficient use of electricity, and rapid technological advancements in connective technologies have boosted the growth of the global home automation market. However, lack of awareness regarding home automation and high installation cost hamper the market growth. On the contrary, rise in awareness for efficient energy usage among consumers, growing urbanization, and increase in inclination toward automation are expected to create lucrative opportunities for the market players in the near future.
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Europe reaped the largest share in 2017, contributing more than one-third of the total market, owing to surge in demand for smart household appliances, availability of adequate connectivity infrastructure, rapid developments in latest technologies, and adoption of several measures to improve energy efficiency. However, Asia-Pacific region is expected to register the fastest CAGR of 17.4% during the forecast period, increase in consumer awareness & financial stability, rise in production innovation & integration, surge in consumer demand for product differentiation, and preference for energy efficient automation systems. The other regions analyzed in the report include North America and Latin America, Middle East and Africa (LAMEA).
Global home automation market is segmented on the basis Home type, By application, networking technology and geography. By type this market is segmented on the basis of Luxury (custom) home automation systems, Mainstream home automation systems, DIY (Do It Yourself) home automation systems and Managed home automation services.
The wireless technology segment accounted for the maximum revenue share in the overall home automation industry as the installation of wireless automation networks facilitates significant reductions in energy management.
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The major market players discussed in the report include Crestron Electronics Inc., Control4 Corporation, Johnson Controls, Zigbee Alliance, Savant Systems LLC., AMX LLC (Harman), Honeywell International Inc., Siemens AG, Vantage Controls (Legrand), and ABB.
Key offerings of the report:
1. Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
2. Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
3. Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
4. Regional Analysis: Thorough analysis of each region helps market players devise expansion strategies and take a leap.
5. Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
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