Press release
Home Automation and Controls Market Size is Expected to Reach $156,586.5 million by 2031
The global home automation and controls market was valued at $52,982.2 million in 2021, and is projected to reach $156,586.5 million by 2031, registering a CAGR of 12.05% from 2022 to 2031.
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Home automation and controls industry refers to automatic and electronic control of household features, activity, and appliances. This system finds application in heating, ventilation, & air conditioning; lighting; and security & access control. Increase in demand for energy efficiency and maintenance of secure & safe environment with enhanced user convenience in various industry verticals boost the market growth. In addition, growth in deployment of smart home lighting system,home control systems,voice controlled home automation high adoption of wireless technologies, and government initiatives toward construction of smart homes.
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Competitive Analysis:
The competitive environment of the home automation and control industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, home automation and control market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the home automation and control industry include:
• Schneider Electric SA
• Vantage Controls
• Crestron Electronics, Inc
• iControl Networks Inc.
• Control4 Corporation
• Honeywell International Inc.
• AMX LLC
• Johnson Controls
• ADT Corporation
• Siemens AG
• 2GIG Technologies
Top Impacting Factors:
The market top impacting factors include surge in deployment of home automation devices, rise in demand for home automation systems among population/individuals, need for energy-efficient solution, and government initiatives toward the construction of smart home. However, lack of interoperability between smart devices is anticipated to hinder the market growth. Moreover, rise in importance of IoT technology in home automation create Home Automation and Controls Market Opportunity during the forecast period. However, each of these factors is expected to have a definite impact on the growth of the market in the coming years.
The research report presents a complete judgment of the home automation and control market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities
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Key Benefits for Stakeholders:
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the home automation and control market analysis from 2022 to 2032 to identify the prevailing home automation and control market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and
strengthen their supplier-buyer network.
• In-depth analysis of the home automation and control market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global home automation and control market trends, key players, market segments, application areas, and market growth strategies.
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