Home Automation System Market to Touch USD 85 Billion at 11% CAGR by 2023 | Know COVID-19 Analysis | Top Companies- Siemens Ag, Samsung Electronics Co., ABB

Market Analysis
The global home automation system market is predicted to touch USD 85 billion at an 11% CAGR between 2018- 2023 states the recent Market Research Future (MRFR) analysis. A home automation system, simply put, is a system comprising a network of hardware electronic interfaces communication that combines software and hardware, which gives control over a device and appliance to the user in the house premise. This building automation is also known as smart home technology. The devices and appliances are connected with one another with the help of the internet and managed through a tablet or smartphone from miles away. Energy management control, entertainment control, HVAC control, security and access control, climate control, lighting control, and others are the different type of home automation technology.

Various factors are propelling the global home automation system market share. As per the current MRFR report, such factors include the booming IoT market, presence of several eminent manufacturers expanding portfolios, rising significance of home monitoring from remote locations, cost reduction measures, and demand for smart home systems and home automation appliances.

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Key Players
Eminent home automation system companies profiled in the global home automation system market report include Siemens Ag (Germany), Samsung Electronics Co., Ltd. (South Korea), ABB Ltd. (Switzerland), Schneider Electric Se (France), Legrand (France), Crestron Electronics, Inc. (U.S.), United Technologies Corporation (U.S.), Johnson Controls Inc. (U.S.), Acuity Brands, Inc. (U.S.), Honeywell International Inc. (U.S.), among others.

Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global home automation system market based on protocol and technology, software and algorithm, and product.
• By product, the global home automation system market is segmented into energy management control, entertainment control, HVAC control, security and access control, climate control, lighting control, and others. Of these, the entertainment segment will lead the market over the forecast period.
• By protocol and technology, the global home automation system market is segmented into network and wireless. The network technology is further segmented into LTE network, GSM/HSPA, and CDMA. The wireless technology is further segmented into Bluetooth, Wi-Fi, Z-wave, Zigbee, and IR. The protocol segment is again segmented into BACnet, LONWORKS, Ethernet, digital addressable lighting interface (DALI), among others.
• By software and algorithm, the global home automation system market is segmented into proactive and behavioral. Of these, the proactive segment will spearhead the market over the forecast period.

Regional Analysis
Based on the region, the global home automation system market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Among these, North America will lead the market over the forecast period.

The home automation system market in the APAC region is predicted to have notable growth over the forecast period. The presence of several new residential projects, strengthening of building infrastructure, the presence of a massive end user base in South Korea and Japan, burgeoning demand for energy management systems, and increasing investments in infrastructure to augment the standard of living are adding to the global home automation system market growth in the region.

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TABLE OF CONTENTS:
1. Market Introduction
2. Research Methodology
3. Market Dynamics
4. Executive Summary
5. Market Factor Analysis
6. Home Automation System Market, By Segments
7. Competitive Analysis
Continued…

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This release was published on openPR.