Home Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecasts 2018 - 2028

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Home Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecasts 2018 - 2028

Status : August, 2020 | Technology & Media | PPT format

Report Digest


Global Home Automation Market: Overview

Technology has been the backbone of advancements in almost all spheres of business today. For a human being, a day without electronic gadgets and technology is almost impossible. The core aspect of all these changes in the human life today is because of internet that created a revolution not only in business, but, in the way of leading life as well. Here is a market that is an offshoot of technology in the latest times and has found importance over the years. With artificial intelligence and machine learning making their way to new equipment, the importance of products in the global home automation market gathers weight.

An upcoming report on the global home automation market by TMR Research is expected to shed light on the various parameters that will augment growth in the coming years. Besides, it lays down a succinct plan for existing and upcoming players to capitalize on opportunities and tackle hurdles on their way to success during the forecast period.

Global Home Automation Market: Notable Developments

A technology based market, the global home automation market has been inundated with new developments or technology that have become basis for the products today. Companies have been riding high on their latest products to garner better revenues and improve brand value. Here is one of the latest development that has created buzz in the global home automation market

  • Control4 has unveiled a 250-square-foot home packed with latest smart home technologies that provides architects with an interactive environment. This was put on display at the International Builders’ Show organized during the Design & Construction Week 2019 in Las Vegas.

Competition in the global home automation market at present is defined by launch of new products to lure audience. However, in the coming days, as the products become popular, and their consumption grows, the focus will shift to quality and endurance. Some of the prominent companies in the global home automation market are ABB Ltd., Control4 Corporation, Vantage Controls (Legrand),Crestron Electronics, Inc., AMX LLC. (Harman), Johnson Controls Inc., Honeywell International Inc., Siemens AG, Savant Systems LLC., and Zigbee alliance.

Global Home Automation Market: Key Trends

There are some trends that will influence growth in the global home automation market in the coming years. Here are some of the popular ones

Growing Electricity Demand

Globally there is a crisis for electricity and many nations have rolled out policies to identify and install alternative or renewable energy production units to meet the impelling demand. While that is a plausible solution to beat the challenge, there are other solutions that have emerged to the fore as well. Smart gadgets is one of them. These gadgets smartly utilize electricity and operate on need basis, preventing unwanted consumption of energy. This has become one of the biggest factors to drive growth in the global home automation market.

Smart Consumer

Products in the global home automation market are best suited only if the end-user is smart. Merely installing on smart equipment at home does not serve the purpose, experts say. People who are savvy for tech gadgets that revolve around latest technology are the right audience. With people becoming increasingly fond of gadgets and technology, the demand for products in the global home automation market is expected to grow in the coming years.

Global Home Automation Market: Regional Analysis

Predictions are that North America will lead the global home automation market in the coming years. The ripe technological atmosphere in the region coupled with astounding awareness among people is a strong reason for this region to tread the growth path in the coming years.

The global home automation market is segmented based on

Application

  • Lighting
  • Safety & Security
  • HVAC
  • Entertainment

Technology

  • Wired
  • Wireless

Type

  • Luxury
  • Do it Yourself (DIY)
  • Managed
  • Mainstream

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.