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Monday, July 18, 2022

Home Automation Market is anticipated to grow at a CAGR of 10% during 2021-2027

The global home automation market is projected to reach $101.1 billion by 2027, at a CAGR of 10% during 2021-2027. The growth of home automation market is driven by increasing consumer need for simplicity of functioning and personalized experience, increasing awareness related to safety and security, and the growing adoption of cloud-based technologies.

Some of the Key Questions answered in this exclusive report are:

Q.1 What are some of the most promising, high-growth opportunities for the home automation market by application (safety and security, entertainment control, lighting, HVAC control, and others), by installation type (managed service, luxury, mainstream, and DIY), by technology (wired and wireless), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 What are the business risks and threats to the home automation market?

Q.4 What are some changing demands of customers in the home automation market?

Q.5 What are the new developments in the home automation market? Which companies are leading these developments?

Q.6 What strategic initiatives are being implemented by key players for business growth?

Q.7 What are some of the competitive products and processes in this home automation area and how big of a threat do they pose for loss of market share via product substitution?

Q.8 What M&A activity has occurred in the last 5 years in this home automation market? 

Emerging trends, which have a direct impact on the dynamics of the industry, include growing demand for IoT technology in the home automation system, development of video enabled drones and constant developments in security technology products such as smart cameras and various sensors and detectors.

Download Brochure of this report by clicking on https://www.lucintel.com/home-automation-market.aspx 

Market Segmentation:

Based on application, the home automation market is segmented into safety and security, entertainment control, lighting, HVAC control, and others. The safety and security segment accounted for the largest share of the market in 2021 and is expected to register the highest CAGR during the forecast period, due to the increasing need for continuous monitoring services to reduce the risk of crime, burglary, and theft.

North America is expected to remain the largest region during the forecast period due to the increasing usage of technologies and digitalization in the US and Canada. Asia Pacific is expected to witness the highest growth over the forecast period because of increasing awareness on safety, security, and energy efficiency.

Key Players in the home automation market are ADT Corporation, Control4 Corporation, United Technologies Corporation, Honeywell, Johnson Control, Siemens AG, Acuity Brands, AMX Inc., Monitronics International, ivint Inc.

Request Sample Pages by clicking on https://www.lucintel.com/home-automation-market.aspx

The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.

To read more about this market please click on https://www.lucintel.com/home-automation-market.aspx

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: 
brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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