Home Automation System Market Set for 12.46% CAGR to 2022

02 May, 2016, 06:00 ET from ReportsnReports

PUNE, India, May 2, 2016 /PRNewswire/ --

The worldwide market for home automation systems is expected to grow at a CAGR of 12.46% between 2016 and 2022 and be worth $78.27 billion by 2022 with driving factors such as significant growth in the Internet of Things (IoT) products & applications and cost reduction measures enabled by home automation systems.

Complete report on global home automation systems market spread across 207 pages, profiling 12 companies and supported with 166 tables and 67 figures is now available at http://www.reportsnreports.com/reports/270356-home-automation-controls-market-by-product-lighting-control-security-control-access-control-hvac-control-entertainment-control-outdoor-control-communication-protocols-standards-data-distribution-geography-2013-2018-.html .

Smart thermostats are installed in most North American homes and they offer attractive opportunities for energy companies and service providers in the home automation system market in the region. Smart thermostats provide details of energy consumption within the household via monthly reports, thereby enabling the end users to take steps to reduce their electricity bills. This factor is expected to drive the growth of the HVAC control market in the other regions as well during the forecast period.

North America held the largest share of the global home automation system market in 2015 because of factors such as the increasing demand for reliable home energy management systems, enhanced home security levels, and growing popularity of integration of smart devices such as tablets and smartphones in home automation solutions. The home automation system market in Asia-Pacific is expected to grow at the highest rate. Strong economic growth, increasing population and improving standards of living and rapid urbanization leading to a sophisticated infrastructure are some of the major factors driving the growth of the market in this region.

In the process of determining and verifying the market size for several segments and sub segments gathered through the secondary research, extensive primary interviews were conducted with key people in the home automation system industry.

The report profiles the key players in the home automation system market with their respective market share analysis. The prominent players profiled in this report are Honeywell International Inc. (U.S.), Legrand (France), Ingersoll-Rand plc. (Ireland), Johnson Controls Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), ABB Ltd. (Switzerland), Acuity Brands, Inc. (U.S.), United Technologies Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Nest Labs, Inc. (U.S.), and Crestron Electronics, Inc. (U.S.). Order a copy of Home Automation System Market by Product (Lighting Control (Switch, Occupancy Sensor), Security & Access Control, HVAC Control (Pump & Fan, Control Valve), Entertainment & Other Controls), Software & Service & Geography - Global Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=270356 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (45%), Tier 2 (35%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (50%), Manager Level (30%) and others (20%) from various key organizations operating in the global flame retardants market. The primary interviews were conducted worldwide covering regions such as North America (60%), Europe (20%), Asia-Pacific (17%), and RoW (5%).

On a related note, another research on Building Automation System Market Global Forecast To 2022 says, the growing demand for energy efficient and enhanced security buildings would drive the building automation system market. Commercial buildings sector to hold the largest share of the building automation system market. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities. Companies like Honeywell International Inc., United Technologies Corporation, Johnson Controls Inc., Hubbell, Inc., Schneider Electric SE, Siemens AG, Legrand SA, Ingersoll Rand PLC, ABB and Robert Bosch GmbH have been profiled in this 162 pages research report available at http://www.reportsnreports.com/reports/219401-global-building-automation-controls-market-2013-2018-by-product-lighting-security-access-hvac-entertainment-outdoor-elevator-controls-building-management-systems-bms-application-geography-americas-europe-apac-row-.html .

Explore more reports on the Semiconductor and Electronics market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/.

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