The North America Smart Home Automation Market is expected to witness market growth of 14.6% CAGR during the forecast period (2022-2028).
Flexibility for novel appliances and technologies. When it comes to accommodating new appliances, gadgets, and other forms of technology, smart home systems typically have a remarkable degree of flexibility. No matter how cutting-edge connected appliances appear to be right now, newer and more complex versions is expected to be created over time. In addition, when an outdated appliance or technology is replaced or a user learns about new technologies to complement their indoor and outdoor environments, they is expected to probably add to the collection of gadgets.
Integrating these new devices can make it significantly simpler to use complex technologies. A smart home uses an internet-connected device to provide remote monitoring and administration of systems and appliances, such as lighting and heating. Through the use of a smart home application on a smartphone or other device on the network, smart home technology, also known as smart home automation, offers homeowners protection, comfort, convenience, and energy efficiency.
Leveraging sensor data on consumer activities in the home to predict consumer requirements and balance them with energy consumption can aid users in majorly reducing energy consumption. Additionally, there are a lot of possibilities for family safety and security with home automation.
The disposable income of the regional population is rapidly increasing. Despite income rising by just 1.1%, personal disposable income increased by 5.6%, according to the Bureau of Energy Analysis, mostly because of an increase in transfer payments. The government stimulus money amid the pandemic increased transfer payments by 32.7% and by an extra 5.4% in 2021. Personal income has increased by $113.4 billion, or 0.5%, on a monthly basis in 2021, while consumer spending increased by $32.7 billion, or 0.2%.
The US market dominated the North America Smart Home Automation Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $46,878 million by 2028.The Canada market is poised to grow at a CAGR of 17.2% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 16.2% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Application, the market is segmented into Entertainment, Lighting, Security, HVAC & Energy Management, and Smart Kitchen. Based on Technology, the market is segmented into Wireless, Cellular and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Schneider Electric SE, Johnson Controls International PLC, Honeywell International, Inc., Leviton Manufacturing Co., Inc., Legrand S.A., Crestron Electronics, Inc., Ingersoll Rand, Inc., and Lutron Electronics Co., Inc.
Flexibility for novel appliances and technologies. When it comes to accommodating new appliances, gadgets, and other forms of technology, smart home systems typically have a remarkable degree of flexibility. No matter how cutting-edge connected appliances appear to be right now, newer and more complex versions is expected to be created over time. In addition, when an outdated appliance or technology is replaced or a user learns about new technologies to complement their indoor and outdoor environments, they is expected to probably add to the collection of gadgets.
Integrating these new devices can make it significantly simpler to use complex technologies. A smart home uses an internet-connected device to provide remote monitoring and administration of systems and appliances, such as lighting and heating. Through the use of a smart home application on a smartphone or other device on the network, smart home technology, also known as smart home automation, offers homeowners protection, comfort, convenience, and energy efficiency.
Leveraging sensor data on consumer activities in the home to predict consumer requirements and balance them with energy consumption can aid users in majorly reducing energy consumption. Additionally, there are a lot of possibilities for family safety and security with home automation.
The disposable income of the regional population is rapidly increasing. Despite income rising by just 1.1%, personal disposable income increased by 5.6%, according to the Bureau of Energy Analysis, mostly because of an increase in transfer payments. The government stimulus money amid the pandemic increased transfer payments by 32.7% and by an extra 5.4% in 2021. Personal income has increased by $113.4 billion, or 0.5%, on a monthly basis in 2021, while consumer spending increased by $32.7 billion, or 0.2%.
The US market dominated the North America Smart Home Automation Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $46,878 million by 2028.The Canada market is poised to grow at a CAGR of 17.2% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 16.2% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Application, the market is segmented into Entertainment, Lighting, Security, HVAC & Energy Management, and Smart Kitchen. Based on Technology, the market is segmented into Wireless, Cellular and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Schneider Electric SE, Johnson Controls International PLC, Honeywell International, Inc., Leviton Manufacturing Co., Inc., Legrand S.A., Crestron Electronics, Inc., Ingersoll Rand, Inc., and Lutron Electronics Co., Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Hardware
- Software
- Services
By Application
- Entertainment
- Lighting
- Security
- HVAC & Energy Management
- Smart Kitchen
By Technology
- Wireless
- Cellular
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- Siemens AG
- Schneider Electric SE
- Johnson Controls International PLC
- Honeywell International, Inc.
- Leviton Manufacturing Co., Inc.
- Legrand S.A.
- Crestron Electronics, Inc.
- Ingersoll Rand, Inc.
- Lutron Electronics Co., Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America Smart Home Automation Market by Component
Chapter 5. North America Smart Home Automation Market by Application
Chapter 6. North America Smart Home Automation Market by Technology
Chapter 7. North America Smart Home Automation Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- ABB Group
- Siemens AG
- Schneider Electric SE
- Johnson Controls International PLC
- Honeywell International, Inc.
- Leviton Manufacturing Co., Inc.
- Legrand S.A.
- Crestron Electronics, Inc.
- Ingersoll Rand, Inc.
- Lutron Electronics Co., Inc.
Methodology
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