Press release
Home Automation Market by Type, Application, Technology- 2023 | Key Segments, Benefits & Opportunity
Home Automation Market
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According to a new report published by Allied Market Research, titled, Home Automation Market by Application, Technology, and Type: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global home automation market was valued at $39,607 million in 2016, and is projected to reach at $81,645 million by 2023, growing at a CAGR of 11.2 % from 2017 to 2023. North America is expected to be the leading contributor to the home automation market, followed by Europe and Asia-pacific.
Increase in awareness for efficient energy usage, rise in electricity prices, and technological advancements are expected to drive the market growth. Moreover, rise in safety & security concerns has fueled the adoption of home automation systems, thus boosting the market growth. However, lack of awareness about home automation products and high initial investments in home automation are expected to hamper the market growth. Increase in adoption of automated services is expected to provide lucrative opportunities for the global home automation market.
Key Players
The key players profiled in the home automation market include Crestron Electronics, Inc. AMX LLC. (Harman), Control4 Corporation, Honeywell International, Inc. Johnson Controls, Inc., Siemens AG, Zigbee alliance, Vantage Controls (Legrand), Savant Systems LLC., and ABB.
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Home Automation Key Market Segments:
By Application
Lighting
Safety & Security
HVAC
Entertainment
Others
By Technology
Wired
Wireless
By Type
Luxury
Do it Yourself (DIY)
Managed
Mainstream
By Region
North America
Europe
Asia-Pacific
LAMEA
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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