Impressive scientific and technological breakthroughs along with developments in automation and construction industries are some of the key motivators for the thriving global home automation market. Latest enhanced technologies known as smart building and smart home have completely reimagined the way services and products are delivered in the global home automation market. Continued efforts in research and development and growing integration of these technologies with ongoing sustainable and smart building and home projects is expected to create lucrative opportunities for players and manufacturers in global home automation market. One of the main areas that can propel growth in the market in coming years is safety and security systems.
Segments in the global home automation market are categorized on the basis of application, technology, and channel. Segments in the global home automation market based on the channel include luxury, DIY (Do It Yourself), mainstream, and managed. Segments in the global home automation market based on the type of technology include wired technologies, which include modules such as power line communication or PLC, fiber optics, and Ethernet. Wireless technologies in the global home automation market include ZigBee, Bluetooth, and Wi-Fi, among others.
Segments in the global home automation market based by the application include several key areas such as safety and security, access control, lighting systems, entertainment systems, heating, ventilation, and air conditioning (HVAC) systems, and other controls. Types of products offered by the players in global home automation market pertaining to safety and security systems include video surveillance solutions that include hardware components such as security cameras and monitors, software tools, and relevant services. Safety and security systems segment in global home automation market is expected to witness prominent growth in coming years owing to rising concerns regarding home burglaries in developing countries. Video surveillance applications are expected to witness substantial growth owing to the technological breakthroughs and sophisticated solutions that deliver superior surveillance data.
Grab an exclusive PDF Brochure With Latest Advancements and Trends
Access control segment in global home automation market includes solutions such as biometric access control and non-biometric access control. Biometric access control systems in the global home automation market include technological solutions such as facial recognition, fingerprint recognition, and iris recognition, among others. Products offered in the lighting systems segment in the global home automation market include drivers and ballasts, sensors, switches, relays, dimmers, and other accessories. Entertainment systems segment in the global home automation market provides solutions such as home theater systems and audio video control systems, among others.
Products offered by the heating, ventilation, and air conditioning (HVAC) systems segment in global home automation market include actuators, control valves, energy meters, sensors, transducers, and thermostats, among others. HVAC segment is also expected to create promising avenues for the players and manufacturers in the global home automation market in coming years. Other controls segment of the global home automation market pertains to smart home automation solutions such as smart locks, smart plugs, and smoke detectors.
High adoption of advanced home automation technologies and increasing preference for luxurious lifestyle are key factors boosting the global home automation market in regions such as North America and Europe. Significant increase in disposable income and increasing adoption of these technologies in nations such as India, China, South Korea, Taiwan, and Indonesia are expected to propel the Asia Pacific home automation market in the near future.
Some of the major incumbent players operating within the global home automation market include ABB Ltd., Crestron Electronics, Inc., Control4 Corporation, Siemens AG, Ingersoll-Rand PLC, ADT LLC, Amazon Inc., 2GIG Technologies, Savant Systems LLC, Google, Inc., SmartThings Inc., Honeywell International Inc., Johnson Controls, Inc., AMX LLC, United Technologies Corporation, Schneider Electric SE, Lutron Electronics Co., Inc., and Legrand SA. Collaboration, partnerships, new product launches, acquisitions, and agreements are some of the key strategies employed by these incumbent players in the global home automation market for expanding their reach and consumer base.
Looking for exclusive expert insights from business experts? Request a custom report
