Global Home Automation Market Size, Trends & Growth Opportunity Report 2023-2030: Growing Adoption for Safety & Security, Efficient Energy Usage, Intelligent Terminals

DUBLIN, May 23, 2023 /PRNewswire/ -- The "Global Home Automation Market Size, Trends & Growth Opportunity, by Type, by Technology, by Application by Region and Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

Global Home Automation Market was valued at USD $45.6 billion in 2022 which is expected to reach USD$ 131.2 billion by 2030 at a CAGR 14.12%

Home automation defined as utilization of intelligent terminals, which control home appliances and equipment's. Rise in awareness for efficient energy usage, increase in electricity prices, and technological advancements which are expected to grow the home automation market across the globe.

Also, rise in safety & security concerns fuelled adoption of home automation system thus driving the market growth.

Market Drivers

Increase in adoption of IoT (Internet of Things) technology by consumers is the key driving factor which is expected to boost the global home automation market growth. Also, rise in penetration of smartphones and smart gadgets will have the positive impact on market growth. Furthermore, many manufacturers expanding their product portfolios will fuel the market growth.

Moreover, rise in importance of home monitoring from remote locations will drive the market growth in near future. In addition to that, rise in government initiatives and smart cities development which is expected to propel the market growth.

Market Restraints

However, risk of device malfunctioning is the restraining factor which is expected to hamper the global home automation market growth. Also, lack of awareness regarding automation products in developing countries as well as high initial investment will affect the market growth.

Market Segmentation

Global Home Automation Market is segmented into type such as Luxury, Managed, Mainstream, and Do it yourself (DIY), by technology such as wired, and Wireless. Further, market is segmented into application such as Lighting, Entertainment, Safety & Security, HVAC, and Others.

Company Profiles

• Crestron Electronics Inc
• AMX LLC
• Control4 Corporation
• Honeywell International Inc.
• Johnson Controls Inc.
• Siemens AG
• Zigbee alliance
• Savant Systems LLC.
• Vantage Controls
• ABB

Market Taxonomy

By Types

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

By Technology

• Wired
• Wireless

By Application

• Lighting
• Entertainment
• Safety & Security
• HVAC
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/2gqgls

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SOURCE Research and Markets