Home Automation Market : Key Growth Factors and Industry Analysis 2015-2025
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Home Automation Market: Drivers & Restraints
Increase demand of smart phone based app for home automation, increase consumer awareness about energy consuming products, technological advancement, convenience factor, rapid mobile connectivity, urbanization, and change in lifestyle are the most important driving factors, which are driving the growth of the home automation market. Since home automation provides safety, security and high advance technology advance, the demand for home automation market has increased.
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Home automation products are not considered a necessity or a must buy. Their high initial installation cost is also very high, which is acting as a barrier for home automation market.
Home Automation Market: Segmentation
Home automation market is broadly classified on the basis of the following segments –
Luxury home Automation System
Mainstream Home Automation System
Managed Home Automation System
DIY(Do It Yourself Home Automation System)
Safety and Security
Entertainment (Audio and Video)
Heating, Ventilation and Air conditioning
By Networking Technology:
Wired Home Automation System
Wireless Home Automation System
Computing Network Home Automation System
Home Automation Market: Overview
The home automation market has grown substantially at a healthy CAGR due to advancement in technology. With rising disposable income and increasing demand for high end products which are energy consuming, home automation market is expected to grow globally. North America will emerge as the fastest growing region in home automation market in the forecast period.
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Home Automation Market: Region-wise Outlook
The home automation market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, home automation market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America dominates the global home automation due to advancement in technology, consumer awareness and fast internet connectivity. North America is followed by Europe and Asia Pacific in the home automation market globally.
Home Automation Market: Key Players
Some of the key market players in home automation market are AMX, ADT Pulse, Control4 Corporation, Crestron, Vera, HomeSeer, SmartThings, Frontpoint, Savant, Siemens AG, Johnson Controls, Honeywell.
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