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Key Influencer in the Home Automation And Controls Market 2025: Rising Residential Building Numbers To Boost Home Automation Market Growth Driver
Home Automation And Controls Market
The surge in residential construction is predicted to boost the expansion of the home automation and controls market. A residential building is defined as a structure offering individual living spaces where people dwell or spend notable periods. The escalation of residential construction is ascribed to the heightened housing demand in urban locales, surging population numbers, robust economic expansion, and increasing incomes. Home automation encompasses smart control of security, comfort, and wellness facets within homes or residential buildings. These systems also ease remote supervision and control of vacation dwellings, rental properties, or secondary residences. For example, in June 2023, as per the Central Statistics Office, a government agency based in Ireland, the residential construction industry saw a volume growth of 7.1% in the first quarter of 2023 as opposed to the last quarter of 2022. Hence, the boost in the quantity of residential buildings is fueling the growth of the home automation and controls market.
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What growth opportunities are expected to drive the home automation and controls market's CAGR through 2034?
There has been a dramatic increase in the size of the home automation and controls market in recent years. It is projected to expand from the value of $78.6 billion in 2024 to hit the $88.9 billion mark in 2025, with a compound annual growth rate (CAGR) of 13.1%. This growth during the historical period is due to factors like the emergence of IoT technology, increased understanding of energy preservation, a surge in consumer demand for convenience, the development of smart home ecosystems, and heightened worries regarding home security.
Expectations are high for a swift expansion in the home automation and controls market in the upcoming years, with a projected growth to $144.61 billion in 2029 and a compound annual growth rate (CAGR) of 12.9%. This anticipated growth during the forecast period can be linked to several factors such as the rising popularity of voice-enabled smart assistants, the increasing elderly population with a preference for independent living, wide-spread high-speed internet, rapid urbanization underlined by smart city projects, and a surge in consumer awareness. Notable trends expected to shape the market during the forecast period involve AI and machine learning's augmenting integration, improved security attributes, tailored smart home solutions for the elderly, adoption of solar panels, and the inception of 5G technology.
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What are the emerging trends shaping the future of the home automation and controls market?
Key players in the home automation and controls market are strategically pushing for the creation of novel home-automated goods to establish a competitive edge. These products, including various devices and systems geared towards improving convenience, efficiency, and household security through automation and remote monitoring. For instance, Hogar Controls, a American firm specializing in smart home and building automation, unveiled its latest Elite Series of home automation items in the Indian market in June 2022. This series, which includes top-notch smart touch panels, top-tier controllers, digital door locks, and smart curtain motors, is set to redefine the home automation industry, promising enhanced convenience, security, and elegance to Indian consumers.
Which growth-oriented segments of the home automation and controls market are leading the industry's development?
The home automation and controls market covered in this report is segmented -
1) By Type: Home Automation System, Mainstream Home Automation System, Managed Home Automation System
2) By Technology: Wired Home Automation Systems, Wireless Home Automation Systems, Powerline Home Automation Systems, Computing Network Home Automation Systems
3) By Application: Lighting, Heating, Ventilation And Air Conditioning (HVAC), Entertainment, Safety And Security, Other Applications
Subsegments:
1) By Home Automation System: Centralized Control Systems, Distributed Control Systems, Standalone Control Systems
2) By Mainstream Home Automation System: Smart Lighting, Smart Thermostats, Smart Security Systems, Smart Appliances, Smart Entertainment Systems
3) By Managed Home Automation System: Cloud-Based Managed Systems, Managed Security And Surveillance, Managed Energy Management Solutions
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What regions are leading the charge in the home automation and controls market?
North America was the largest region in the home automation and controls market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the home automation and controls market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the home automation and controls market?
Major companies operating in the home automation and controls market report are Siemens AG; Honeywell International Inc.; Johnson Controls International PLC; Koninklijke Philips N.V.; Legrand Group; ADT Inc.; Logitech Harmony; Ecovacs Robotics Co. Ltd.; Crestron Electronics Inc.; Nice S.p.A.; Sonos Inc.; Leviton Manufacturing Co. Inc.; iRobot Corporation; Lutron Electronics Inc.; AMX LLC; Control4 Corporation; ecobee Inc.; Netatmo SAS; Wink Labs Inc.; 2GIG Technologies Inc.; August Home; Aeotec Group GmbH
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What Is Covered In The Home Automation And Controls Global Market Report?
•Market Size Forecast: Examine the home automation and controls market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the home automation and controls market for a structured understanding.
•Key Players Overview: Analyze major players in the home automation and controls market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the home automation and controls market.
•Segment Contributions: Evaluate how different segments drive overall growth in the home automation and controls market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the home automation and controls market.
•Industry Challenges: Identify potential risks and obstacles affecting the home automation and controls market.
•Competitive Landscape: Review strategic developments in the home automation and controls market, including expansions, agreements, and new product launches.
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