Home Automation System Market Research Report
Global Home
Automation System Market
The GMI Research forecasts that the Home Automation System
Market is witnessing an upsurge in demand over the forecast period. This is
mainly due to the rise in awareness concerned with efficient energy usage.
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Introduction of the Home Automation System Market
Home automation systems are the modernizations to the
mechanization processes wherein human efforts with the machinery equipment are
required to operate various loads in homes. It involves automatic control of
home appliances using different technologies and controllers over desktops, laptops,
smartphones, or tablets.
Key Players of the Global Home Automation System Market:
·
Honeywell International, Inc.
·
Control4 Corporation
·
Legrand S.A.
·
Crestron Electronics Inc.
·
Johnson Controls, Inc.
·
Lutron Electronics, Inc.
·
Siemens AG
·
Ingersoll-Rand Plc
·
Schneider Electric SE
·
ABB Group
Home Automation System Market Dynamics (including market
size, share, trends, forecast, growth, forecast, and industry analysis)
The home automation system is expected to observe a
significant demand in the coming years. The growth in the market is mainly
attributed to the increase n electricity prices persuading the consumers to
choose these systems to conserve energy along with the various strategic
initiatives by the government in emerging economies to stimulate efficient
usage and power management. For example, China's five-year plan targets energy
efficiency projects, and the European 2020 initiative emphasizes on attaining
net-zero energy consumption in public and private buildings. These aggravating
norms executed by several governments are supporting the market growth. Also,
the extension in the product portfolio by several leading multinational
producers to cater to the altering demand of end-users and ongoing product
development have propelled the market growth. In addition, other factors like
the increasing integration of IoT, accelerating penetration of smartphones and
the internet, together with the intensifying trend of monitoring from distant
locations, are strengthening the home
automation system market size. On the other hand, the high initial
installation cost will hinder the market share.
Product Segment Drivers
Based on the product, entertainment and other controls are
likely to expand faster during the forecast period due to the outrageous demand
for smart meters and smoke detectors among the consumers. The escalating
popularity of smart plugs, smart hubs, and smart locks will raise the market
demand. Leading players, including Elan Home Systems, Creston Electronics,
Inc., and Leviton Manufacturing Co, Inc., are focussing on innovation to gain a
competitive advantage over other players. Additionally, the expansion in the
product portfolio will allure customers looking for modernized entertainment
systems such as smart speakers.
Software & Algorithm Segment Drivers
Based on the software & algorithm, proactive is
contemplated to account for the largest share over the forecast period. These
solutions are designed to allow users to understand energy patterns and take
necessary measures to decrease their energy consumption. They are lodged with
web-based software and displays to offer accumulative information to the users,
including trends of energy usage, alarms, and goal tracking.
Regional Drivers
Based on the regional coverage, Asia-pacific is projected to
dominate the market shortly due to the accelerating number of residential
construction projects accompanied by the need to strengthen the building
infrastructure across the Asian countries. The swiftly soaring population rate
in countries such as Japan and South Korea is increasing the market demand.
Moreover, the proliferating demand for energy management systems to save energy
and reduce the electricity bill will supplement the home automation system
market share.
Home Automation System Market Segmentation:
Segmentation
by Product
·
Lightning Control
o
Relays
o
Occupancy Sensors
o
Daylight Sensors
o
Timers
o
Dimmers
o
Switches
o
Accessories and Other Products
·
Security and Access Control
o
Video Surveillance
o
Hardware
o
Security Cameras
o
Storage Devices
o
Monitors
o
Accessories
o
Software/Video Analytics
o
Services
·
Access Control
o
Biometric Access Control
o
Facial Recognition
o
Iris Recognition
o
Fingerprint Recognition
o
Others
·
Non-Biometric Access Control
·
HVAC Control
o
Smart Thermostats
o
Sensors
o
Control Valves
o
Heating and Cooling Coils
o
Dampers
o
Actuators
o
Pumps & Fans
o
Smart Vents
·
Entertainment and Other Controls
o
Entertainment Control
o
Audio, Volume, & Multimedia Controls
o
Home Theatre System Controls
o
Touchscreens and Keypads
o
Other Controls
o
Smart Meters
o
Smart Plugs
o
Smart Hubs
o
Smart Locks
o
Smoke Detectors
Segmentation
by Software & Algorithm
·
Behavioural
·
Proactive
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
About GMI
Research
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that offers business sights and market research reports for every enterprise,
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