The global home automation system market size reached US$ 74.8 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 124.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.4% during 2023-2028.
Home automation, or a smart home system, involves the incorporation of intelligent technology into homes for safety, comfort, and energy conservation. It includes the control and computerization of lighting, heating, ventilation, and air conditioning (HVAC), and security systems. With time, digitization has increased the consumer spending on home automation systems which enable homeowners to control, monitor and automate various functions, appliances and systems around the house with the touch of a button. This evolution of automated homes has resulted in integrated and centralized control of operations, making the lives of users more comfortable and convenient.
Home automation systems are gaining traction across the globe due to their various advantages such as notifying the users about intruders and activities at their homes, which in turn aids in preventing potential crimes. They also help in minimizing energy consumption and increasing operational efficiency. Besides this, improving living standards and the availability of affordable home automation solutions have encouraged consumers from all income segments to install these systems in their homes. Furthermore, with the use of Internet of Things (IoT) in these systems, everything from appliances to security systems can be controlled with smart home devices. This technology also enables users to monitor their home from another location using an interface on a computer, tablet or smartphone. Owing to this, several technology giants like Apple, Google, Microsoft and Samsung have invested in the home automation business.
Home automation, or a smart home system, involves the incorporation of intelligent technology into homes for safety, comfort, and energy conservation. It includes the control and computerization of lighting, heating, ventilation, and air conditioning (HVAC), and security systems. With time, digitization has increased the consumer spending on home automation systems which enable homeowners to control, monitor and automate various functions, appliances and systems around the house with the touch of a button. This evolution of automated homes has resulted in integrated and centralized control of operations, making the lives of users more comfortable and convenient.
Home automation systems are gaining traction across the globe due to their various advantages such as notifying the users about intruders and activities at their homes, which in turn aids in preventing potential crimes. They also help in minimizing energy consumption and increasing operational efficiency. Besides this, improving living standards and the availability of affordable home automation solutions have encouraged consumers from all income segments to install these systems in their homes. Furthermore, with the use of Internet of Things (IoT) in these systems, everything from appliances to security systems can be controlled with smart home devices. This technology also enables users to monitor their home from another location using an interface on a computer, tablet or smartphone. Owing to this, several technology giants like Apple, Google, Microsoft and Samsung have invested in the home automation business.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global home automation system market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application and type.Breakup by Application:
- Lighting control
- Security and access control
- HVAC control
- Entertainment and other controls
Breakup by Type:
- Luxury (Custom)
- Mainstream
- DIY (Do-It-Yourself)
- Managed
Regional Insights:
- North America
- Europe
- Asia
- Rest of the world
Competitive Landscape:
The market is highly fragmented in nature, with the presence of numerous manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:- Siemens AG
- Honeywell International, Inc.
- Johnson Controls, Inc.
- Schneider Electric SE
- Legrand SA
- Ingersoll-Rand PLC
- ABB Ltd.
- Acuity Brands, Inc.
- Samsung Electronics Co., Ltd.
Key Questions Answered in This Report:
- What are the attractive opportunities in the global home automation system market?
- What are the market drivers of the global home automation system market?
- What has been the impact of COVID-19 on the global home automation system market?
- What are the challenges faced by the global home automation system market?
- What are the success and risk factors for the global home automation system market?
- What are the historical, current and future market trends in the global home automation system market?
- How is the global home automation system market segmented on the basis of the application?
- How is the global home automation system market segmented on the basis of the type?
- How is the global home automation system market segmented on the basis of geography?
- What is the performance of the key players in the global home automation system market?
Table of Contents
1 Preface3 Executive Summary
2 Scope and Methodology
4 Home Automation System Market
5 Market Dynamics
6 Home Automation System Market
7 Home Automation System Market: Performance by Application
8 Home Automation System Market: Performance by Type
9 Home Automation System Market: Performance by Geography
10 Competitive Landscape
11 Company Profiles
List of Figures
List of Tables
Companies Mentioned
- Siemens AG
- Honeywell International Inc.
- Johnson Controls Inc.
- Schneider Electric SE
- Legrand SA
- Ingersoll-Rand PLC
- ABB Ltd.
- Acuity Brands Inc.
- Samsung Electronics Co. Ltd.
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 148 |
Published | July 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 74.8 Billion |
Forecasted Market Value ( USD | $ 124.1 Billion |
Compound Annual Growth Rate | 8.8% |
Regions Covered | Global |
No. of Companies Mentioned | 9 |