Transparency Market Research

Home Automation Market: Adoption of Smartphones and Gadgets Are Acting as the Major Drivers


Albany, NY -- (SBWIRE) -- 03/02/2019 -- The home automation market unarguably is in constant state of evolution. The growth trajectories seemingly ride on the back of rapid digital integration in consumer products. The troika of convenience, comfort, and control is a compelling proposition driving the vast assortment of home automation products. Increasing affordability over time has one of the primary drivers for mainstreaming of smart homes technologies among homeowners in various regions across the globe. In recent years, growing popularity of voice control solutions is a case in point.

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The prospects are vast. As a study by Transparency Market Research puts it, the global home automation market will clock a worth of US$ 116.26 Bn by 2026 end. One of the central facets of adoption of home automation products is high level of security and safety they provide from across the world. In all these, internet of things technology (IoT) has played unparalleled role in setting connected homes.

Advances in Home Connectivity Technologies underlie New Frontiers for Manufacturers
Considerable advances in artificial intelligence have bolstered the capabilities of these devices, unlocking promising prospects. Furthermore, constant upgrades in home connected devices have undoubtedly expanded the potential of home automation technologies.

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Several trends underlie the rising attractiveness of a slew of home automation devices especially in developed countries. Unprecedented advances in the market relate especially to connectivity technologies. Furthermore, a slew of home automation systems are characterized by advanced electronics, advanced monitoring technologies, and imaging systems. Moreover, developments in the home automation market is notably marked by rising usage of products for home security.

On the regional front, a number of developing and developed regions are expected to be potentially lucrative markets for home automation. In particular, Asia Pacific has shown unprecedented growth prospect in recent years. A factor behind this can be growing adoption of home automation for video surveillance services. Moreover, HVAC and lighting systems equipped with automation are gaining currency into the smart home landscape.