Home Automation Market Revenue, Future Growth, Top Key Players, Trend Insights and Investment Opportunities Forecast to 2025, The Insight Partners
The home automation market was valued at US$ 40.10 billion in 2017 and is expected to reach US$ 113.82 billion by 2025; it is estimated to register a CAGR of 13.93% from 2017 to 2025.
The Home Automation Market report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market. The report focuses on global major leading companies providing information such as company profiles, sales, sales revenue, market share and contact information. Finally the marketing, feasibility of new investment projects are assessed and overall research conclusions offered.
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Scope of the Report
Home automation provides high-end solutions and uses advanced digital technology to make the operation of a variety of household equipment more convenient. It improves efficiency and performance when automating the home or any domestic operations. Home automation entails the automatic control of all electrical gadgets in a home and the ability to control them remotely via a wireless connection. Consumers increasingly demand customization and professionally built systems that are at their convenience and relatively simple to operate. Furthermore, home automation systems provide centralized control of lighting, HVAC, audio/video systems, kitchen appliances, security systems, and other in-home devices.
A high rate of technology adoption is fueling the worldwide home automation industry. Due to the rapid growth of smartphone-controlled applications, the home automation market is gaining popularity. The expansion of the market is fueled by an increase in smartphone-controlled applications that allow users to monitor household appliances from afar. Increased government initiatives to build smart homes worldwide are fueling the home automation market. Alarm.com, a technology business based in the US, surveyed 1,000 American households. The poll found that about 48% of respondents were enthusiastic about smart-home solutions, while 59% were perplexed by the broad range of solutions available in the home automation market. The survey respondents prioritized the security and comfort that intelligent homes would provide, with energy savings coming in second. These factors are propelling the home automation market growth.
The usage of home automation by differently-abled individuals, who are more likely to be exposed to challenges of daily living than other people, is projected to provide significant impetus to the worldwide home automation market. While persons with Alzheimer's disease sometime fail to close the main door, a deaf person cannot hear the doorbell, and a blind person has a tough time finding their way to the door. Home automation systems benefit these individuals, consequently enhancing their quality of life. Smart homes provide them with a safe atmosphere and a sense of security. The user can also control a variety of features with home automation solutions. People can be alerted by remote monitoring if there is a threat. These factors are driving the growth of the home automation market.
The Innovative Key Players Are: Johnson Controls International Plc, Siemens AG, Legrand, Schneider Electric SE, Honeywell International Inc., Control4 Corporation, ABB Ltd. , Crestron Electronics Inc., Leviton Manufacturing Company, Inc, Lutron Electronics Co., Inc, Ingersoll-Rand plc
This research provides detailed information regarding the major factors influencing the growth of the Home Automation Market in Global and Regional Level (drivers, restraints, opportunities, and challenges), forecast of the market size, in terms of value, market share by region and segment; regional market positions; segment and country opportunities for growth; New product developments, strengths and weaknesses, brand portfolio; Marketing and distribution strategies; challenges and threats from current competition and prospects; Key company profiles, SWOT, product portfolio and growth strategies.
The research provides answers to the following key questions:1.What is the estimated growth rate of the market for the forecast period 2017–2025? What will be the market size during the estimated period?2. What are the key driving forces responsible for shaping the fate of the Home Automation market during the forecast period?3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Home Automation market?4. What are the prominent market trends influencing the development of the Home Automation market across different regions?5. What are the major threats and challenges likely to act as a barrier in the growth of the Home Automation market?6. What are the major opportunities the market leaders can rely on to gain success and profitability?
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