Home Automation Market

Global Home Automation Market by Products (Luxury, Mainstream, Managed, and DIY (Do It Yourself)), Networking Technologies (Wired and Wireless), Management (On-premises and Cloud-based), Software & Algorithm (Behavioral and Proactive), Applications (Safety & Security, Lighting, and Entertainment (Audio & Video), Heating, Ventilation, and Air Conditioning, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028

  • Report ID: ICT-SE-2905
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 202
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The global home automation market size is anticipated to expand at a CAGR of 12.1% and is projected to reach USD 160.8 billion during the forecast period, between 2021 and 2028. Rising urbanization and growing disposable income are propelling the global home automation market.

Home Automation Market summary

Home automation is a network of electronic interfaces, hardware, and communication that integrates everyday devices with each another using the internet. Each device has sensors that is connected through Wi-Fi and manageable with a smartphone or tablet whether the person is at home or miles away. The home automation system is used in a wide range of applications such as lighting control, outdoor lawn irrigation, HVAC, security systems, and kitchen appliances. It offers benefits to the user by managing all home devices from one place or as per user’s convenience, providing home management insights and remote-control home functions, improving appliance functionality, providing flexibility for new devices by maximizing home security, and increasing energy efficiency. 

Market Trends, Drivers, Restraints, and Opportunities:

  • Rising standard of living associated with changing preferences for an elegant and luxurious lifestyle among consumers is boosting the home automation market. 
  • Growing adoption of the internet of things (IoT), connected devices, and cloud-based solution in smart home appliances is fueling the market. 
  • Rising electricity prices and increasing awareness for energy-efficient solutions are driving the home automation market.
  • Increasing concern related to safety and security among customers is propelling the market.   
  • High cost associated with an initial investment in home automation solution or system, and lack of awareness about home automation product and services are hindering the market. 
  • Increasing government investments in smart city projects, which aim to increase the production of home automation solutions by various companies. Hence, creating opportunities for the market to grow.    

Scope of the report:

The report on the global home automation market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Global Home Automation Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast 

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Products (Luxury, Mainstream, Managed, and DIY (Do It Yourself)), Networking Technologies (Wired and Wireless), Management (On-premises and Cloud-based), Software & Algorithm (Behavioral and Proactive), Applications (Safety & Security, Lighting, and Entertainment (Audio & Video), Heating, Ventilation, and Air Conditioning, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

ABB, Acuity Brands Lighting, Inc, Control4, Crestron Electronics, Inc, HARMAN, Johnson Controls, Legrand North America, LLC, Lutron Electronics Co., Inc, Resideo Technologies, Inc, Savant Systems, Inc, Schneider Electric, and Siemens.

Home Automation Market Segment Insights:

Managed segment to hold significant market share

In terms of products, the home automation market is segmented into luxury, mainstream, managed, DIY (Do It Yourself). The managed segment is expected to hold a significant share of the market during the forecast period. The managed products for home automation involve pre-packaged solutions offered by telecom service providers. Moreover, managed system provides an end-to-end monitoring, control, and energy management service, which is expected to fuel the segment during the forecast period.

Home Automation Market taxonomy

Wireless segment to account for substantial market share

Based on networking technologies, the home automation market is bifurcated into wired and wireless. The wireless segment constituted a significant share of the market and is projected to expand at a rapid rate during the forecast period, due to the wireless control module. The wireless system is much smoother and better than retrofit purposes than the wired one. Additionally, a wireless home automation system is inexpensive due to fewer equipments are being used as compared to a wired home automation systems.

On-premises segment to grow in the forecasted period

On the basis of management, the market is segregated in-premise and cloud-based. The on-premises segment is expected to hold a significant share of the market during the forecast period owing to the accompaniment of a central hub for controlling lighting, HVAC, and thermostats systems at home. Moreover, growing demand for home automation systems to control the number of devices from a single source is anticipated to fuel the segment in the forecast period.

Behavioral segment to expand in the near future

In terms of software & algorithm, the home automation market is segregated into behavioral and proactive. The behavioral segment is expected to hold a significant share of the market during the forecast period, due to the development of technically advanced and user-friendly software solutions. Additionally, behavioral software provides real-time services to the customer by reducing energy consumption within households, which is expected to boost the segment during the forecast period.

Lighting segment to grow at a significant pace

Based on applications, the market is fragmented into safety & security, lighting, entertainment, heating, ventilation & air conditioning, and others. The entertainment segment is sub-segmented into audio & video. The lighting segment is expected to hold a significant share of the market during the forecast period, due to rising adoption of wireless technology, and penetration of improved lighting systems. Moreover, growing adoption of internet of things and cloud-based renewable energy solutions reduce the energy consumption by integrating lighting product. These factors are anticipated to propel the segment in the coming years.

North America dominates the global market

In terms of regions, the global home automation market is split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constituted a significant share of the market in 2020, due to mergers & acquisitions conducted by key market players & IT companies. The market in North America is projected to expand at a significant CAGR during the forecast period, due to growing deployments in internet of things (IoT)- and artificial intelligence (AI)-based home automation solutions. Increasing consumer investments for the deployment of safety and security solutions and growing number of smart homes in countries such as the US, Canada, and Mexico are propelling the home automation market in North America. 

Segments

Segments Covered in the Report
By Products

  • Luxury
  • Mainstream
  • Managed
  • DIY (Do It Yourself) 

By Networking Technologies

  • Wired
  • Wireless

By Management

  • On-premises
  • Cloud-based

By Software & Algorithm

  • Behavioral
  • Proactive

By Applications

  • Safety & security
  • Lighting
  • Entertainment (Audio & Video)
  • Heating, Ventilation & Air Conditioning
  • Others

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

By Key Players

  • ABB
  • Acuity Brands Lighting, Inc
  • Control4
  • Crestron Electronics, Inc
  • HARMAN
  • Johnson Controls
  • Legrand North America, LLC
  • Lutron Electronics Co., Inc
  • Resideo Technologies, Inc
  • Savant Systems, Inc
  • Schneider Electric
  • Siemens

 

Competitive Landscape

Key players in the global home automation market include ABB, Acuity Brands Lighting, Inc, Control4, Crestron Electronics, Inc, HARMAN, Johnson Controls, Legrand North America, LLC, Lutron Electronics Co., Inc, Resideo Technologies, Inc, Savant Systems, Inc, Schneider Electric, and Siemens. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Home Automation Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Home Automation Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Home Automation Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Home Automation Market - Supply Chain
  4.5. Global Home Automation Market Forecast
     4.5.1. Home Automation Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Home Automation Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Home Automation Market Absolute $ Opportunity
5. Global Home Automation Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Home Automation Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Home Automation Demand Share Forecast, 2019-2026
6. North America Home Automation Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Home Automation Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Home Automation Demand Share Forecast, 2019-2026
7. Latin America Home Automation Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Home Automation Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Home Automation Demand Share Forecast, 2019-2026
8. Europe Home Automation Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Home Automation Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Home Automation Demand Share Forecast, 2019-2026
9. Asia Pacific Home Automation Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Home Automation Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Home Automation Demand Share Forecast, 2019-2026
10. Middle East & Africa Home Automation Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Home Automation Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Home Automation Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Home Automation Market: Market Share Analysis
  11.2. Home Automation Distributors and Customers
  11.3. Home Automation Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. ABB
     11.4.2. Acuity Brands Lighting, Inc
     11.4.3. Control4
     11.4.4. Crestron Electronics, Inc
     11.4.5. HARMAN
     11.4.6. Johnson Controls
     11.4.7. Legrand North America, LLC
     11.4.8. Lutron Elec

Segments Covered in the Report
By Products

  • Luxury
  • Mainstream
  • Managed
  • DIY (Do It Yourself) 

By Networking Technologies

  • Wired
  • Wireless

By Management

  • On-premises
  • Cloud-based

By Software & Algorithm

  • Behavioral
  • Proactive

By Applications

  • Safety & security
  • Lighting
  • Entertainment (Audio & Video)
  • Heating, Ventilation & Air Conditioning
  • Others

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

By Key Players

  • ABB
  • Acuity Brands Lighting, Inc
  • Control4
  • Crestron Electronics, Inc
  • HARMAN
  • Johnson Controls
  • Legrand North America, LLC
  • Lutron Electronics Co., Inc
  • Resideo Technologies, Inc
  • Savant Systems, Inc
  • Schneider Electric
  • Siemens

 

Key players in the global home automation market include ABB, Acuity Brands Lighting, Inc, Control4, Crestron Electronics, Inc, HARMAN, Johnson Controls, Legrand North America, LLC, Lutron Electronics Co., Inc, Resideo Technologies, Inc, Savant Systems, Inc, Schneider Electric, and Siemens. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Home Automation Market keyplayers

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