According to the recent study the Home Automation Market is projected to reach an estimated $133 billion by 2030 at a CAGR of 9.7% from 2024 to 2030. Growth in this market is primarily 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.
Browse 73 figures/charts and 85 tables in this 157-page report to
understand trends, opportunities and forecast in 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).
“Safety and security market is expected to remain the largest
segment during the forecast period.”
Based on application,
the home automation market is segmented into safety and security, entertainment
control, lighting, HVAC control, and others. 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 of
advanced technology to provide single platform for high level of control,
flexibility, and to deliver the best entertainment experience.
“Within the home automation market, the managed service segment is
expected to remain the largest installation type.”
Based on installation
type the managed service segment is expected to witness the highest growth over
the forecast period due to the increasing demand for 24/7 monitoring service.
Lucintel predicts that the mainstream segment is expected to experience the
highest growth rate during the forecast period, supported by its easy
configuration and less installation cost.
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Home Automation Market
“North America will dominate the home automation market in near
future.”
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.
Major players of home
automation market are adopting various growth strategies like new product
launches, expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. ADT Corporation,
Control4 Corporation, United Technologies Corporation, Honeywell, Johnson
Control, Siemens AG, Acuity Brands, AMX Inc., Monitronics International, ivint
Inc are among the major home automation providers.
This unique 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 write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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