Home Automation System Market Growth, Size, Revenue, Trends, Share, Scope and Future Outlook
Home Automation System Market Size- By Management, By Product, By Software and Algorithm- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2023 | Report ID: IACT23177 | Pages: 1 - 221 | Formats*: |
| Category : Information & Communications Technology | |||
Home Automation System Market Introduction and Overview
According to SPER Market Research, the Global Home Automation System Market is estimated to reach USD 128.92 billion by 2033 with a CAGR of 9.32%.
The report includes an in-depth analysis of the Global Home Automation System market, including market size and trends, product mix, distribution channels, and supplier analysis. Smart property technologies are exploring and transforming the home automation system in significant ways. Previously, automation was thought to involve the operation of equipment and appliances via internet networks. Automation is growing smarter, however, as smart technology advances, such as self-diagnosing devices, smart security, smart entertainment, sophisticated self-health care, and smart kitchens. Smart gadgets are used to incorporate cutting-edge technology such as artificial intelligence, machine learning, and the internet of things (IoT) to boost automation possibilities.
- Resideo announced the release of the Resideo house app, enabling whole-house monitoring for all four essential home automation services: energy, water, air, and safety.
- Resideo is a top supplier of home security and comfort solutions. PowerSetter (US), a pioneer in smart home energy automation, partnered with Resideo to offer its clients a USD 50 refund on Resideo's whole smart thermostat line.
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Market Opportunities and Challenges
Opportunities: Rapid urbanization in emerging countries presents an opportunity. According to a 2018 United Nations report, Asia and Africa will account for over 90% of the growth in population by 2050. Furthermore, 600 big cities around the world, particularly in Central Asia and Africa, are expected to have increased urbanization and industrialization by 2025. With the growth of smart cities, emerging nations are also seeing increasing urbanization. The concentration of housing construction in cities in emerging economies has resulted in an increasing demand for enhanced housing infrastructure. This would eventually lead to the installation of home automation systems in newly built, modern housing projects.
Challenges: Growing security issues with home automation equipment provide a challenge. Buyers are getting increasingly concerned about cybersecurity as the number of IoT-based home automation solutions grows. This has major consequences for home security system buyers. When it comes to crucial home automation equipment like smart locks and smart cameras, the severity of a security breach rises. Home automation can be vulnerable to security breaches owing to flaws in the product or an insecure wireless connection linking the home automation devices. In July 2019, Kaspersky, a major security research group, disclosed a security flaw in the Fibaro (Poland) smart home system that allowed anyone to upload and download backup data from the smart hub to and from the cloud server.
Market Competitive Landscape
The market for Global Home Automation System is highly competitive, and the leading companies have implemented a range of tactics to secure the largest market share. ABB Ltd, Control4 Corporation, Crestron Electronics, Inc, Honeywell International, Inc, Ingersoll-Rand plc, Johnson Controls, Legrand SA, Leviton Manufacturing Company, Inc, Lutron Electronics Co., Inc, Schneider Electric, Siemens AG, Resideo.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Management, By Product, By Software and Algorithm |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | ABB Ltd, Control4 Corporation, Crestron Electronics, Inc, Honeywell International, Inc, Ingersoll-Rand plc, Johnson Controls, Legrand SA, Leviton Manufacturing Company, Inc, Lutron Electronics Co., Inc, Schneider Electric, Siemens AG, Resideo. |
COVID-19 Impact on Global Home Automation System Market
The globally home automation system market has been significantly impacted by the COVID-19 epidemic. With lockdowns, social distancing measures, and increasing time spent at home, demand for smart home devices has skyrocketed. Homeowners have been looking for methods to improve their living spaces to support remote work, online learning, and recreational activities. As a result, expenditures in home automation systems, such as smart lighting, security, and entertainment systems, have surged. Furthermore, the necessity for touchless and voice-activated control alternatives to reduce physical contact has fueled the adoption of these technologies. As a result, the home automation system industry has expanded, and it is anticipated to expand more as the world adjusts to the new normal brought about by the epidemic.
Key Target Audience
- Homeowners
- Real Estate Developers and Builders
- Homebuyers and Renters
- Architects and Interior Designers
- Smart Home Installers and Integrators
- Home Improvement Retailers
- Technology Enthusiasts
- Aging Population
- Environmentalists
- Security and Surveillance Companies
- Energy Management Companies
- Insurance Companies
- Smart Home Appliance Manufacturers
Our in-depth analysis of the Home Automation System Market includes the following segments:
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| By Product: |
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| By Software and Algorithm: |
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Key Topics Covered in the Report
- Global Home Automation System Market Size (FY’2023-FY’2033)
- Overview of Global Home Automation System Market
- Segmentation of Global Home Automation System Market By Management (On-Premises, Cloud-based)
- Segmentation of Global Home Automation System Market By Product (Lighting Control, Security and Access Control, HVAC Control, Entertainment, Others)
- Segmentation of Global Home Automation System Market By Software and Algorithm (Direct-to-customers, E-commerce, Modern Trade, Specialty Stores)
- Statistical Snap of Global Home Automation System Market
- Expansion Analysis of Global Home Automation System Market
- Problems and Obstacles in Global Home Automation System Market
- Competitive Landscape in the Global Home Automation System Market
- Impact of COVID-19 and Demonetization on Global Home Automation System Market
- Details on Current Investment in Global Home Automation System Market
- Competitive Analysis of Global Home Automation System Market
- Prominent Players in the Global Home Automation System Market
- SWOT Analysis of Global Home Automation System Market
- Global Home Automation System Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Home Automation System Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Home Automation System Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Home Automation System Market
7. Global Home Automation System Market, By Management (USD Million)
7.1. Global Home Automation System Market Value Share and Forecast, By Management, 2023-20337.2. On-Premises7.3. Cloud-based
8. Global Home Automation System Market, By Product (USD Million)
8.1. Global Home Automation System Market Value Share and Forecast, By Product, 2023-20338.2. Lighting Control8.3. Security and Access Control8.4. HVAC Control8.5. Entertainment8.6. Others
9. Global Home Automation System Market, By Software and Algorithm (USD Million)
9.1. Global Home Automation System Market Value Share and Forecast, By Software and Algorithm, 2023-20339.2. Direct-to-customers9.3. E-commerce9.4. Modern Trade9.5. Specialty Stores
10. Global Home Automation System Market Forecast, 2019-2033 (USD Million)
10.1. Global Home Automation System Market Size and Market Share
11. Global Home Automation System Market, By Management, 2019-2033 (USD Million)
11.1. Global Home Automation System Market Size and Market Share By Management (2019-2026)11.2. Global Home Automation System Market Size and Market Share By Management (2027-2033)
12. Global Home Automation System Market, By Product, 2019-2033 (USD Million)
12.1. Global Home Automation System Market Size and Market Share By Product (2019-2026)12.2. Global Home Automation System Market Size and Market Share By Product (2027-2033)
13. Global Home Automation System Market, By Software and Algorithm, 2019-2033 (USD Million)
13.1. Global Home Automation System Market Size and Market Share By Software and Algorithm (2019-2026)13.2. Global Home Automation System Market Size and Market Share By Software and Algorithm (2027-2033)
14. Global Home Automation System Market, By Region, 2019-2033 (USD Million)
14.1. Global Home Automation System Market Size and Market Share By Region (2019-2026)14.2. Global Home Automation System Market Size and Market Share By Region (2027-2033)14.3. Asia-Pacific
14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada14.6.2. Mexico14.6.3. United States
14.7. Latin America
14.7.1. Argentina14.7.2. Brazil14.7.3. Rest of Latin America
15. Company Profile
15.1. ABB Ltd.
15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments
15.2. Control4 Corporation
15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments
15.3. Crestron Electronics, Inc.
15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments
15.4. Honeywell International, Inc.
15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments
15.5. Ingersoll-Rand plc
15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments
15.6. Johnson Controls
15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments
15.7. Legrand SA
15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments
15.8. Leviton Manufacturing Company, Inc.
15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments
15.9. Lutron Electronics Co., Inc.
15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments
15.10. Schneider Electric
15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments
15.11. Siemens AG
15.11.1. Company details15.11.2. Financial outlook15.11.3. Product summary15.11.4. Recent developments
15.12. Resideo
15.12.1. Company details15.12.2. Financial outlook15.12.3. Product summary15.12.4. Recent developments
15.13. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Home Automation System Market is projected to reach USD 128.92 billion by 2033, growing at a CAGR of 9.32% during the forecast period.
Home Automation System Market grew in market size from 2022. The Market is expected to reach USD 128.92 billion by 2033, at a CAGR of 9.32% during the forecast period.
Home Automation System Market CAGR of 9.32% during the forecast period.
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Home Automation System Market size is USD 128.92 billion from 2023 to 2033.
Home Automation System Market Segment is covered By Management, By Product, By Software and Algorithm.
The North America is anticipated to have the highest market share in the Home Automation System Market.
The key players in the market include Companies Covered ABB Ltd, Control4 Corporation, Crestron Electronics, Inc, Honeywell International, Inc, Ingersoll-Rand plc, Johnson Controls, Legrand SA, Leviton Manufacturing Company, Inc, Lutron Electronics Co., Inc, Schneider Electric, Siemens AG, Resideo.
Smart property technologies are exploring and transforming the home automation system in significant ways. Previously, automation was thought to involve the operation of equipment and appliances via internet networks.
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