According to
a new market report published by Lucintel, the future of the home automation market
looks attractive with opportunities in the safety and security, HVAC,
entertainment, and lighting control applications. The global home automation
market is expected to reach an estimated $75.2 billion by 2022 with a CAGR of 11.4%
from 2017 to 2022. The major growth drivers for this market are increasing
consumer need for simplicity and a personalized experience, growing awareness
related to safety and security, and the adaption of cloud-based technologies.
In this market, home automation and control
systems are used in the safety and security, entertainment control, lighting, and
HVAC control applications. Lucintel forecasts that the safety and security
market is expected to remain the largest segment due to the increasing need for
continuous monitoring services to reduce the risk of crime, burglary, and
theft. The entertainment segment is expected to experience the highest growth
rate during the forecast period, supported by the increasing need for advanced
technology to provide a single platform to deliver a high level of control,
flexibility, and the best entertainment experience.
Within the home automation market by
installation type, managed service is expected to remain the largest
installation type due to the increasing demand for 24/7 monitoring services. Lucintel
predicts that the mainstream segment is expected to experience the highest
growth rate during the forecast period because of its easy configuration and
lower installation cost.
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 of safety, security, and energy efficiency.
Emerging trends, which have a direct impact on
the dynamics of the industry, include growing demand for internet of things (IoT)
technology in home automation systems, development of video enabled drones, and
constant developments in security technology products such as smart cameras and
various sensors and detectors. ADT Corporation, Control4 Corporation, United
Technologies Corporation, Honeywell, Johnson Control, Siemens AG, Acuity
Brands, AMX Inc., Monitronics International, and Vivint Inc., are among the
major home automation manufacturers.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities in the global home security market
by application, installation type, technology type, and region and has come up
with a comprehensive research report entitled
“Growth
Opportunities in the Global Home Automation Market 2017-2022: Trends, Forecast,
and Opportunity Analysis.” The Lucintel report serves as a
catalyst for growth strategy as it provides a comprehensive data and analysis
on trends, key drivers, and directions. The study includes a forecast for the
global home automation market by application, installation type, technology,
and region as follows:
By Application [$M shipment analysis from 2011 to 2022]:
·
Safety and Security
·
Entertainment
·
Lighting
·
HVAC
·
Others
By Installation
Type [$M shipment analysis from 2011 to 2022]:
·
Managed Service
·
Mainstream
·
Luxury
·
DIY
By Technology
[$M shipment analysis from 2011 to 2022]:
·
Wired
– BACnet
– Lonworks
– DALI
– Modbus
– KNX
– Others
·
Wireless
– Zigbee
– Wi-Fi
– Bluetooth
– EnOcean
– Z-Wave
– Others
By Region [$M shipment analysis for 2011 –
2022]:
·
North America
– United
States
– Canada
– Mexico
·
Europe
– United
Kingdom
– Germany
– France
·
Asia Pacific
– Japan
– China
– South
Korea
– India
·
The Rest of the World
This
157-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents, contact
Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Telecommunication
Report, Telecommunication
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Matrix.
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.
This
report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for
the global 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
Which regions will grow at a faster pace and why?
Q.4
What are the key factors affecting market dynamics? What are the drivers and
challenges of the market?
Q.5
What are the business risks and threats to the market?
Q.6
What are the emerging trends in this market and reasons behind them?
Q.7
What are some changing demands of customers in the market?
Q.8
What are the new developments in the market? Which companies are leading these
developments?
Q.9
Who are the major players in this market? What strategic initiatives are being
implemented by key players for business growth?
Q.10
What are some of the competitive products and processes in this area and how
big of a threat do they pose for loss of market share via product substitution?
Q.11
What M&A activity has occurred in the
last 5 years?
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