Growing concern for energy conservation will escalate the Home Automation Market at a CAGR of 13.93%
Pune, India -- (SBWIRE) -- 03/15/2019 -- Latest market study on "Home Automation Market to 2025 by Product (Entertainment Centers, Security & Access Control, Lighting Control, Climate Control and Outdoor Automation System) and Networking (Wired, Wireless and Power-Line) - Global Analysis and Forecast?, the home automation market is estimated to reach US$ 113.82 billion by 2025 from US$ 35.24 billion in 2016. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Key trend which will predominantly effect the Home Automation market market in coming year is that a majority of people are projected to get access to a massive count of home automation devices in almost every aspect of their lifestyle. Owing to the globe is anticipated to witness voice command technology in almost every device. Presently, the voice command technology is only present in limited devices and one of them is smart phones. Moreover, this technology is also expected to eclipse over the remote control technology. In coming years the majority would be able to witness combination of sensor products, unlike the connected sensors utilized by Febreze Home.
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The developed regions such as North America and Europe, comprises of a rapidly increasing elderly population. Home automation systems provides several benefits for elderly such as emergency response, video monitoring, medication assistance, and better security among others.
The overall Home Automation market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Home Automation market.
Some of the leading home automation market players are Johnson Controls, Siemens AG, Legrand, Schneider Electric SE, Honeywell International, Inc., Control4 Corporation, ABB Ltd, Creston Electronics, Inc., Leviton Manufacturing Company, Inc., and Lutron among others.
The report segments the global home automation market as follows:
Global Home Automation Market - By Product
- Entertainment Centers
- Security & Access Control
- Lighting Control
- Climate Control
- Outdoor Automation System
Global Home Automation Market - By Networking
- Wired Home Automation Systems
- Wireless Home Automation Systems
- Power-Line Home Automation Systems
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Home Automation market is described as a range of on-premises or cloud-based capabilities that enable a house control its various operations such as in-door temperature, lights, entertainment units and security controls with the help of devices, such as smartphone, tablets and sensor remote controls. The concept of home automation has been in existence since long, however, lately, due to the suitable confluence of vital market, strategic, regulatory and technology trends, the home automation market is expected to witness a new phase in Home Automation market growth trend.