Global Demand for Home Automation Market Size & Share Will Reach USD 89.6 Billion By 2026: Statistics Report from Facts & Factors

LDS Lighting Control 400

July 6, 2021

Facts and Factors have published a new research report titled Home Automation Market By Management (On-premises & Cloud-Based), By Application (Lighting Control, Security & Access Control, HVAC Control, Entertainment Control, & Others), By Software and Algorithm (Behavioral & Proactive), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026”.

“According to the recent research report, the demand of global Home Automation Market size & share expected to reach to USD 89.6 Billion by 2026 from USD 48.7 Billion in 2020, at a compound annual growth rate (CAGR) of 11.5% during the forecast period 2021 to 2026”

Global Home Automation Market: Overview

Home automation system refers to devices that can safely regulate and monitor a range of home appliances such as lights, climate, and entertainment systems to name a few. The latest version of these systems further possesses the ability to control the alarm systems and control systems of the house. The primary driving factors of the global home automation market are the growing popularity of the internet of things and the increased prevalence of consumers possessing elegant and luxurious appliances. Moreover, rising consumer spending and an increase in per capita income among consumers will further drive the growth of the global home automation market during the forecast.

Strategic adoption of brand placement with celebrities and brands and increased marketing budgets among manufacturers will further enable a rise in revenue opportunities for the global home automation market during the forecast. The rising penetration of cloud-based solutions and rising smart homes among various regions will further increase the footprint of the global home automation market during the forecast. Prebuilt provisions for easy integration of these applications will further boost the growth of the global home automation market during the forecast.               

Sample Report Includes:

  • 2020 Updated Report Introduction, Overview, and In-depth industry analysis
  • COVID-19 Pandemic Outbreak Impact Analysis Included
  • 225+ Pages Research Report (Inclusion of Updated Research)
  • Provide Chapter-wise guidance on Request
  • 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
  • Includes Updated List of table & figures
  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
  • Facts and Factors research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

Industry Major Market Players

  • Creston Electronics Inc.
  • AMX LLC
  • Control4 Corporation
  • Honeywell International Inc.
  • Johnson Control Inc.
  • Siemens AG
  • Savant Systems LLC
  • ABB Ltd
  • Resideo
  • Legrand
  • Schneider Electric
  • Acuity Brands
  • Lutron
  • Remote Technologies
  • Elan
  • Develco Products
  • Vantage Controls               

Key questions answered in this report:

  • What is the projected market size & growth rate of the Home Automation Market?
  • What are the key driving factors for the growth of the Home Automation Market?
  • What are the top companies operative in Home Automation Market?
  • What segments are covered in Cannabis in Home Automation Market?
  • How can I get free sample report/company profiles of the Home Automation Market?   

Market Dynamics

Here are some noteworthy developments that are expected to change the course of the home automation market during the forecast:

  • The Indian Government recently launched the ‘Make in India’ campaign which aims to increase the production of startups that develop home automation products and services.
  • Schneider Electric launched the Easergy P3 in the Indian Market which is a medium protection relay circuit that takes into account real-time analytics and advanced technological solutions such as the Internet of Things (IoT).

Apple, Inc. developed a HomeKit that allows users to connect their iPhones to their range of smart home devices and perform actions such as open garage doors, control lights, and monitor security cameras.

On the basis of applications, the global home automation market can be divided into lighting control, security and access control, HVAC control, entertainment control, and others. The segment of entertainment control will occupy the largest market share during the advent of the forecast in terms of global revenue contribution. Factors responsible for the dominant position of the segment can be credited to the rising applications based on increased convenience and increased functionality of these devices.

Source

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