Overview and Scope
Home automation refers to the electronic and automatic control of household activities, features, and equipment. is a network of hardware, communication, and electronic interfaces that enables the Internet-based integration of commonplace devices. Whether you are at home or thousands of miles away, you can handle each gadget from your smartphone or tablet because they each have sensors and are WiFi linked. Home automation is also referred to as domotics, and a home equipped with an automation system is referred to as a smart home.
Sizing and Forecast
The home automation market size has grown rapidly in recent years. It will grow from $66.04 billion in 2023 to $72.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to growing consumer awareness, convenience and time-saving, energy efficiency concerns, increased focus on health and wellness, enhanced data privacy.
The home automation market size is expected to see rapid growth in the next few years. It will grow to $109.34 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to focus on sustainable and green homes, health and wellness monitoring, focus on sustainability, customization and personalization, diy home automation kits.. Major trends in the forecast period include rise of smart hubs and ecosystems, expansion of iot devices, security and surveillance solutions, health and wellness monitoring, customization and personalization, diy installations and configurations..
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Segmentation & Regional Insights
The home automation market covered in this report is segmented –
1) By Product : Lighting Control, Security And Access Control, HVAC Control, Entertainment , Other Products
2) By Technology: Wired Home Automation System, Wireless Home Automation System
3) By End User: Residential, Commercial, Other End Users
North America was the largest region in the home automation market in 2023. The regions covered in the home automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing use of internet of things (IoT) devices in a home automation system is expected to propel the growth of the home automation market in the forecast period. The Internet of Things (also known as IoT) based home automation system uses internet protocols or cloud computing to operate all of the smart home’s equipment. The IoT-based home automation system has numerous advantages over wired systems, including flexibility, ease of installation, avoidance of the complexity of flowing through wires or weak electrical wiring, easy problem detection and triggering, and, most all, mobility. For instance, in March 2023, according to Exploding Topics, a US-based online platform that provides insights into emerging and trending topics, by 2030, it is anticipated that there will be 25.4 billion IoT devices. Therefore, the increasing use of internet of things (IoT) devices in home automation systems drive the home automation market growth
Key Industry Players
Major companies operating in the home automation market report are ABB, Crestron Electronics Inc., Schneider Electric SE, Honeywell International Inc., Johnson Controls Inc., Siemens AG, Legrand Group, Control4, Home Brain, Savant Systems Inc., Lutron Electronics Company, Sauter AG, United Technologies Corporation, Bosch Security and Safety Systems, Silvan Innovation Labs, Elan Home Systems LLC, Fueb, Harman International, LG Electronics Inc., August Inc., HomeSeer Technologies LLC, Wink Labs Inc., Amazon Inc., Google Nest, ADT Inc., Vivint Smart Home Inc., SimpliSafe, Ring LLC, Ecobee, Somfy, Netatmo, SmartThings Inc.
The home automation market report table of contents includes:
1. Executive Summary
2. Home Automation Market Characteristics
3. Home Automation Market Trends And Strategies
4. Home Automation Market – Macro Economic Scenario
5. Global Home Automation Market Size and Growth
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26. South America Home Automation Market
27. Brazil Home Automation Market
28. Middle East Home Automation Market
29. Africa Home Automation Market
30. Home Automation Market Competitive Landscape And Company Profiles
Top Major Players:
- ABB
- Crestron Electronics Inc
- Schneider Electric SE
- Honeywell International Inc
- Johnson Controls In
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