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The Proliferation Of IOT Devices Is Driving Growth In The Home Automation Market Driver: Leading Transformation in the Home Automation Market in 2025
Home Automation Market Size
The escalation in the usage of Internet of Things (IoT) devices within home automation systems is predicted to fuel the expansion of the home automation market during the projected period. IoT-based home automation systems, which utilize internet protocols or cloud computing to govern every piece of smart home equipment, have significant benefits compared to wired systems. These advantages include adaptability, streamlined installation, eliminating the issues associated with threading through wires or fragile electrical wiring, straightforward problem identification and initiation, and most importantly, portability. Specifically, a projection by Exploding Topics, a US online platform offering insights into burgeoning and popular topics, in March 2023 stated that by 2030 there will likely be about 25.4 billion IoT devices. Therefore, the accelerated usage of IoT devices in home automation systems is supporting the growth of the home automation market.
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What is the projected compound annual growth rate (CAGR) of the home automation market from 2025 to 2034, and what factors influence it?
In the past few years, the size of the home automation market has shown a robust growth trend. It is projected to expand from $71.19 billion in 2024 to $77.65 billion in 2025, achieving a compound annual growth rate (CAGR) of 9.1%. The substantial growth observed in the historic period is due to factors such as heightened consumer awareness, the importance of convenience and saving time, concerns over energy efficiency, a heightened emphasis on health and wellness, and improved data privacy.
In the coming years, the home automation market is anticipated to experience significant expansion. It's predicted to increase its worth to $123.88 billion by 2029, with a compound annual growth rate (CAGR) of 12.4%. Factors contributing to this projected surge for the mentioned duration include emphasis on eco-friendly and sustainable homes, health and wellness tracking, sustainability focus, personalization, and DIY home automation tools. Critical trends during this period consist of the emergence of smart hubs and ecosystems, the proliferation of IoT devices, safety and surveillance solutions, health and wellness observation, customization, DIY setups, and configurations.
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How are the latest trends influencing the growth of the home automation market?
The advancement in technology is having a significant impact on the home automation market. Major players in the home automation field are concentrating on creating technologically advanced home automation solutions to solidify their market presence. For example, in June 2022, Hogar Controls, which is a renowned American company providing smart home solutions, unveiled a range of home automation products like smart touch panels, controllers, digital door locks, and smart curtain motors to emerge as a comprehensive solution provider for architects, interior designers, and tech-savvy consumers looking for smart home solutions. These panels function on Z-Wave technology and are equipped with Wi-Fi capabilities, making them compatible with any smartphone and able to be voice-controlled through Amazon Alexa or Google Assistant on supported devices via sensors. Furthermore, these control panels are designed to resist heat, humidity, and shocks.
What are the major segments of the home automation market and their role in driving growth?
The home automation market covered in this report is segmented -
1) By Product: Lighting Control, Security And Access Control, HVAC Control, Entertainment, Other Products
2) By Technology: Wired Home Automation System, Wireless Home Automation System
3) By End User: Residential, Commercial, Other End Users
Subsegments:
1) By Lighting Control: Smart Bulbs, Lighting Sensors, Dimmers And Switches,
2) By Security And Access Control: Smart Locks, Surveillance Cameras, Alarm Systems,
3) By HVAC Control: Smart Thermostats, HVAC Sensors, Zoning Systems,
4) By Entertainment: Smart Speakers, Streaming Devices, Home Theater Systems,
5) By Other Products: Smart Appliances, Home Health Devices, Energy Management Systems.
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Which regions are key players in the growth of the home automation market?
North America was the largest region in the home automation market in 2024. The regions covered in the home automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the home automation market?
Major companies operating in the home automation market include ABB, Crestron Electronics Inc., Schneider Electric SE, Honeywell International Inc., Johnson Controls Inc., Siemens AG, Legrand Group, Control4, Home Brain, Savant Systems Inc., Lutron Electronics Company, Sauter AG, Bosch Security and Safety Systems, Silvan Innovation Labs, Elan Home Systems LLC, Fueb, Harman International, LG Electronics Inc., August Inc., HomeSeer Technologies LLC, Amazon Inc., Google Nest, ADT Inc., Vivint Smart Home Inc., SimpliSafe, Ring LLC, Ecobee, Somfy, Netatmo, SmartThings Inc.
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What Is Covered In The Home Automation Global Market Report?
•Market Size Forecast: Examine the home automation market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the home automation market for a structured understanding.
•Key Players Overview: Analyze major players in the home automation market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the home automation market.
•Segment Contributions: Evaluate how different segments drive overall growth in the home automation market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the home automation market.
•Industry Challenges: Identify potential risks and obstacles affecting the home automation market.
•Competitive Landscape: Review strategic developments in the home automation market, including expansions, agreements, and new product launches.
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