We are monitoring the impact of COVID-19 on Home Automation System Market Get in touch with us for detailed analysis Know More
Pulished Date April, 2021
ID: 8989
Share on
Share on

Home Automation System Market by Protocol and Technology (Network and Wireless), Product (Lighting, Security and Access Control, HVAC and Entertainment Control), Software and Algorithm (Behavioral and Proactive), and Region- Analysis, Size, Growth, Investment and Forecasts (2021-2026)

Pulished: April, 2021
ID: 8989
Pages: 170

Home Automation System Market Size, Trends & Growth (2021 - 2026)

The Global Home Automation Market size was worth USD 40.8 billion in 2020, so it is estimated to reach USD 63.2 billion by 2025, growing at a CAGR of 9.1 % during the forecast period 2021-2026. North America Home Automation Market is expected to rule the global industry for home automation systems between 2019 and 2024. The increasing trend of energy management systems and green homes have contributed significantly to the growth of this sector. The smart homes in North America, especially in the United States, are much higher compared to other regions of the world. The market is expected to grow at a steady pace during the forecast period. The APAC market is expected to grow at the highest CAGR during the forecast period due to the presence of a significant number of new residential projects and the reinforcement of the building infrastructure.

Some of the significant and crucial variables that will probably amplify the expansion of the home automation system market in the forecast timeline are rising usage of home automation systems among the older population, burgeoning housing affordability among younger generation across the world, preponderance of sophisticated facilities supplied by telecom companies, and lower insurance premiums for property owners engaging in home security systems. On the other hand, rapid urbanization would help the development of the home automation system market by providing significant potential. 

Home automation includes the implementation of a degree of automation and computerized control of specific hardware and electrical systems. Such appliances include garage doors, security systems, temperature control, audio/video equipment, automatic doors, and lighting. The system can be operated by Wi-Fi or Bluetooth-enabled devices, such as a laptop or mobile phone, while a desktop PC functions as a server. As a result, component costs and installation costs are considerably low as most consumers already own the appropriate equipment. Home Automation software meets the interoperability criteria of different applications and is easy to use and deploy at the same time.

RECENT DEVELOPMENTS:

 

  1. The Bengaluru City Police have awarded Honeywell a Rs 496 crore contract to conduct a project that promises to make India's tech capital a safer environment for women in Oct 2021. The Bangalore Safe City project will entail the installation and operation of thousands of cameras around the city and the construction of a state-of-the-art command center for the city's police force.
  2. Nanoleaf launched Lines, a new series of smart lights from Nanoleaf, in Oct 2021. The new Nanoleaf Lines are color-changing lights in a bar design that are ultra-lightweight. The Lines ($199.99) are backlit and linked at 60-degree angles to create geometric designs of your choosing, and with dual-color zones, they can bring a visual feast to any room.
  3. Google's Next range of security cameras and doorbells was enhanced in 2021 to include battery life and offline storage features. This ensures that your home security system continues to function even if power or internet access is lost. Furthermore, the cost of the new Next items has been reduced, making them more accessible. However, the battery-powered Nest Cam and Nest Doorbell devices have their own set of issues. They currently lack support for streaming on television, most notably.
  4. Century Inc. has highlighted its growth prospects for entering the European market to build better home automation with cutting-edge innovations. BN-LINK, handled by Century Product Inc., was disclosed in July 2021, emphasizing a specific focus on the UK, Germany, and France for its market expansion
  5. In April 2016 Johnson Controls launched its new residential touch-screen thermostat, a pioneer in building automation, which keeps homeowners securely connected to their comfort systems at home or away through their smartphones, tablets or computers.

Home Automation System Market Value and Growth:

The Home Automation System Market size is valued at 40.8 Billion USD in 2020, is projected to reach USD 63.2 by 2026, with growth at a CAGR of 9.1% during the forecast period 2021-2026.

Market Growth

Drivers:

Telecommunication firms have entered the home security sector after acquiring a significant domestic customer base through existing internet and cable subscriptions. Home automation manufacturers can accurately target changes with shifting demographics and technical improvements with the help of subscription services given by communications carriers. In addition, insurance firms provide substantial discounts to homeowners who have access control and security systems installed in their residential complex. These reductions help clients save money on their home insurance premiums and cover the cost of installing home security systems in their homes. The development of innovative & energy-efficient automated systems, growth in the IoT market, rise in consumer awareness about the availability of smart home devices such as automated security & lighting systems, and stringent government regulations are all factors that influence the global home automation market. Furthermore, because of the growth of the construction sector and the demand for energy efficiency in smart homes and buildings, home automation systems are expanding.

Restraints:

Buyers are eager to spend money on home automation, but they want some systems installed before buying. Users may install home automation systems like smart lighting and audio controls, but creating HVAC and security controls provisions can be expensive. As a result, consumers who show interest to invest in home automation technology prefer their homes to be move-in ready, i.e., if some smart home automation technology is already installed or at least some provisions such as wiring and communications are made for the installation of home automation systems, buyers are more likely to purchase a home. When looking for a home, smart technology is a top consideration for buyers. This is because having provisions (wiring and connectivity) for such technology allows consumers to customize it to their liking. As a result, a scarcity of pre-installed home automation systems is projected to stifle the market's expansion. In addition, buyers are increasingly concerned about cybersecurity as the number of IoT-based home automation solutions grows. This has severe consequences for home security system purchasers.

The severity of a security breach rises for virtual home automation devices like smart locks and smart cameras. Due to security flaws in the product or an insecure wireless connection linking the home automation devices. Many of these flaws have been patched by their manufacturers, but they illustrate the surge in security vulnerabilities as the number of home automation devices on the market grows.

Market Segmentation

The Global Home Automation Market is segmented by Application, Type, and Technology.

By Application

  • Lighting
  • Safety & Security
  • HVAC
  • Entertainment
  • Others

The market is categorized into Lighting, Safety & Security, HVAC, Entertainment, and Others.

In 2020, the home automation system market was expected to dominate entertainment and other control items. Audio, volume, and multimedia room controls are the most common controls used to control and regulate entertainment systems in home automation. Smart meters, smart plugs, smart hubs, smart locks, smart window blinds, and smoke detectors are examples of other controls. Automated home audio and volume controllers are used to regulate the audio and video that is played throughout the house and customize what is playing in each area. There are a variety of commercial systems available on the market, or the user can have a system custom-built or created at home. Smart meters, smoke alarms, smart plugs, smart curtains, door locks, and smart hubs are other devices typically accessible across many houses as stand-alone gadgets.

By Type

  • Luxury
  • DIY
  • Managed
  • Mainstream

The market is segmented into Luxury, DIY, Managed, and Mainstream. The Mainstream Home Automation System category is expected to hold the largest share of the market. This can be linked to the Home Automation systems' reduction of cost and ease of use.

By Technology

  • Wired
  • Wireless

The market can be categorized into Wired and Wireless. The Wireless Home Automation System market is expected to grow at a rapid pace. This is due to a growth in demand for wireless home automation systems and the ease with which they can be set up and used.

The entertainment control segment is expected to have the largest share among the different products in the home automation system industry. The growth of audio, sound, and digital room controls is motivated by the comfort provided by these controls for the management and control of home entertainment systems. The proactive solutions segment is expected to hold the largest market size in the forecast period. These solutions are specifically designed to enable consumers to understand energy patterns and to take effective measures to reduce their consumption. They are highly beneficial as they can also send a recommendation signal to end-users to take the necessary measures and control devices based on their needs.

Home Automation System Market by Region

  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa
  • Latin America

Regional Analysis

Growing Acceptance of innovations and developments like artificial intelligence and IoT enables North America's Industry to Represent the Highest CAGR; North America accounted for USD 16.4 billion revenue in 2017 and is anticipated to continue to lead the worldwide market in the coming years. Increased partnerships between important stakeholders and IT businesses to innovate and develop IoT and AI-based solutions in the United States are projected to boost growth in this region. Similarly, the market's expansion is expected to be aided by a strong deployment frequency of privacy and protection measures in this area. However, the total market in North America is predicted to rise at a faster CAGR from 2018 to 2025, owing to the growing number of smart homes in countries like the United States and Canada.

Impact of COVID-19 on Global Home Automation Market

The COVID-19 outbreak, a fatal transmittable disease that emerged in China and has now spread worldwide, has impacted the home automation business. This problem has impacted most home automation system makers, and it is projected to have a mild influence. The COVID-19 epidemic will affect various types of home automation systems in different ways. Home automation installations have decreased, according to market participants. Because home automation systems require expert on-site installation and programming, buyers are hesitant to install them to avoid dealing with strangers during this period. As a result, some companies have seen a drop in revenue, whereas DIY home automation companies have been less affected.

Key Players

  1. Legrand
  2. Resideo Technologies Inc
  3. Schneider Electric
  4. Johnson Controls
  5. Siemens
  6. Ingersoll-Rand plc
  7. Leviton Manufacturing Co. Inc
  8. ABB
  9. Elan Nortek Security & Control LLC
  10. SmartThings Inc

1. Introduction                                

               1.1 Market Definition                    

               1.2 Study Deliverables                  

               1.3 Base Currency, Base Year and Forecast Periods                          

               1.4 General Study Assumptions                 

2. Research Methodology                                          

               2.1 Introduction                             

               2.2 Research Phases                      

                              2.2.1 Secondary Research           

                              2.2.2 Primary Research 

                              2.2.3 Econometric Modelling      

                              2.2.4 Expert Validation  

               2.3 Analysis Design                        

               2.4 Study Timeline                         

3. Overview                                     

               3.1 Executive Summary                

               3.2 Key Inferences                         

               3.3 Epidemiology                            

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

               4.1 Market Drivers                         

               4.2 Market Restraints                   

               4.3 Key Challenges                         

               4.4 Current Opportunities in the Market               

5. Market Segmentation                                            

               5.1 Protocol and Technology                     

                              5.1.1 Introduction           

                              5.1.2 Network   

                              5.1.3 Wireless   

                              5.1.4 Y-o-Y Growth Analysis, By Protocol and Technology              

                              5.1.5 Market Attractiveness Analysis, By Protocol and Technology            

                              5.1.6 Market Share Analysis, By Protocol and Technology             

               5.2 Product                       

                              5.2.1 Introduction           

                              5.2.2 Lighting    

                              5.2.3 Security and Access Control            

                              5.2.4 HVAC        

                              5.2.5 Entertainment Control       

                              5.2.6 Y-o-Y Growth Analysis, By Product

                              5.2.7 Market Attractiveness Analysis, By Product 

                              5.2.8 Market Share Analysis, By Product               

               5.3 Software and Algorithm                       

                              5.3.1 Introduction           

                              5.3.2 Behavioral              

                              5.3.3 Proactive 

                              5.3.4 Y-o-Y Growth Analysis, By Software and Algorithm

                              5.3.5 Market Attractiveness Analysis, By Software and Algorithm              

                              5.3.6 Market Share Analysis, By Software and Algorithm               

6. Geographical Analysis                                            

               6.1 Introduction                             

                              6.1.1 Regional Trends    

                              6.1.2 Impact Analysis     

                              6.1.3 Y-o-Y Growth Analysis        

                                             6.1.3.1 By Geographical Area

                                             6.1.3.2 By Protocol and Technology

                                             6.1.3.3 By Product

                                             6.1.3.4 By Software and Algorithm

                              6.1.4  Market Attractiveness Analysis      

                                             6.1.4.1 By Geographical Area

                                             6.1.4.2 By Protocol and Technology

                                             6.1.4.3 By Product

                                             6.1.4.4 By Software and Algorithm

                              6.1.5  Market Share Analysis       

                                             6.1.5.1 By Geographical Area

                                             6.1.5.2 By Protocol and Technology

                                             6.1.5.3 By Product

                                             6.1.5.4 By Software and Algorithm

               6.2 North America                         

                              6.1.1 Introduction           

                              6.1.2 United States         

                              6.1.3 Canada     

               6.3 Europe                        

                              6.2.1 Introduction           

                              6.2.2 U.K            

                              6.2.3 Spain         

                              6.2.4 Germany  

                              6.2.5 Italy           

                              6.2.6 France      

               6.4 Asia-Pacific                

                              6.3.1 Introduction           

                              6.3.2 China        

                              6.3.3 India         

                              6.3.4 Japan        

                              6.3.5 Australia   

                              6.3.6 South Korea           

               6.5 Latin America                           

                              6.4.1 Introduction           

                              6.4.2 Brazil         

                              6.4.3 Argentina 

                              6.4.4 Mexico     

                              6.4.5 Rest of Latin America          

               6.6 Middle East & Africa              

                              6.5.1 Introduction           

                              6.5.2 Middle-East           

                              6.5.3 Africa        

7. Strategic Analysis                                      

               7.1 PESTLE analysis                        

                              7.1.1 Political    

                              7.1.2 Economic 

                              7.1.3 Social        

                              7.1.4 Technological        

                              7.1.5 Legal         

                              7.1.6 Environmental       

               7.2 Porter’s Five analysis                             

                              7.2.1 Bargaining Power of Suppliers         

                              7.2.2 Bargaining Power of Consumers     

                              7.2.3 Threat of New Entrants      

                              7.2.4 Threat of Substitute Products and Services

                              7.2.5 Competitive Rivalry within the Industry      

8. Market Leaders' Analysis                                       

               8.1 Ingersoll-Rand PLC                  

                              8.1.1 Overview 

                              8.1.2 Product Analysis   

                              8.1.3 Financial analysis  

                              8.1.4 Recent Developments        

                              8.1.5 SWOT analysis       

                              8.1.6 Analyst View          

               8.2 Emerson Electric Co. AMX                    

               8.3 ABB Ltd.                      

               8.4 Legrand S.A               

               8.5 Lutron Electronics Inc.                          

               8.6 Schneider Electric S.A                           

               8.7 Crestron Electronics Inc                       

               8.8 Tyco International Ltd                          

               8.9 Nortek Inc.                 

               8.10 Vivint Inc.                

9. Competitive Landscape                                         

               9.1 Market share analysis                           

               9.2 Merger and Acquisition Analysis                       

               9.3 Agreements, Collaborations, and Joint Ventures                          

               9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                          

               a) List of Tables                

               b) List of Figures                             

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by propulsion, by charging station, by power output, by installation along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Home Automation System Market By Region, From 2021-2026 ( USD Billion )
  2. Global Home Automation System Market By Protocol and Technology, From 2021-2026 ( USD Billion )
  3. Global Network Market By Region, From 2021-2026 ( USD Billion )
  4. Global Wireless Market By Region, From 2021-2026 ( USD Billion )
  5. Global Home Automation System Market By Product, From 2021-2026 ( USD Billion )
  6. Global Lighting Market By Region, From 2021-2026 ( USD Billion )
  7. Global Security and Access Control Market By Region, From 2021-2026 ( USD Billion )
  8. Global HVAC Market By Region, From 2021-2026 ( USD Billion )
  9. Global Entertainment Control Market By Region, From 2021-2026 ( USD Billion )
  10. Global Home Automation System Market By Software and Algorithm, From 2021-2026 ( USD Billion )
  11. Global Behavioral Market By Region, From 2021-2026 ( USD Billion )
  12. Global Proactive Market By Region, From 2021-2026 ( USD Billion )

Please wait. . . . Your request is being processed

LICENCE TYPE

$ 1234 4255

Clients
clients
clients
clients
clients
clients
clients
Click for Request Sample