The global home automation market is expected to reach an estimated $75.2 billion by 2022 with a CAGR of 11.4% from 2017 to 2022
LONDON, Nov. 6, 2017 /PRNewswire/ -- The future of the home automation market looks attractive with opportunities in the safety and security, HVAC, entertainment, and lighting control applications. The global home automation market is expected to reach an estimated $75.2 billion by 2022 with a CAGR of 11.4% from 2017 to 2022. The major growth drivers for this market are increasing consumer need for simplicity and a personalized experience, growing awareness related to safety and security, and the adaption of cloud-based technologies.
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Emerging trends, which have a direct impact on the dynamics of the home automation industry, include growing demand for internet of things (IoT) technology in home automation systems, development of video enabled drones, and constant developments in security technology products such as smart cameras and various sensors and detectors.
Home Automation Market TrendsHome Automation Market Forecast
Growth Opportunities for the Global Home Automation Market by Region
The study includes the home automation market size and forecast for the global home automation market through 2022 by application, installation type, technology, and region as follows:
Home Automation Market by Application [$M shipment analysis from 2011 to 2022]:
Safety and Security
Entertainment
Lighting
HVAC
Others
Home Automation Market by Installation Type [$M shipment analysis from 2011 to 2022]:
Managed Service
Mainstream
Luxury
DIY
Home Automation Market by Technology [$M shipment analysis from 2011 to 2022]:
Wired
- BACnet
- Lonworks
- DALI
- Modbus
- KNX
- Others
Wireless
- Zigbee
- Wi-Fi
- Bluetooth
- EnOcean
- Z-Wave
- Others
Home Automation Market by Region [$M shipment analysis for 2011 – 2022]:
North America United States Canada Mexico Europe United Kingdom Germany France Asia Pacific Japan China South Korea India The Rest of the World
Home automation companies profiled in this market include ADT Corporation, Control4 Corporation, United Technologies Corporation, Honeywell, Johnson Control, Siemens AG, Acuity Brands, AMX Inc., Monitronics International, and Vivint Inc., are among the major home automation manufacturers.
Lucintel forecasts that the safety and security market is expected to remain the largest segment due to the increasing need for continuous monitoring services to reduce the risk of crime, burglary, and theft. The entertainment segment is expected to experience the highest growth rate during the forecast period, supported by the increasing need for advanced technology to provide a single platform to deliver a high level of control, flexibility, and the best entertainment experience.
Within the home automation market by installation type, managed service is expected to remain the largest installation type due to the increasing demand for 24/7 monitoring services. Lucintel predicts that the mainstream segment is expected to experience the highest growth rate during the forecast period because of its easy configuration and lower installation cost.
North America is expected to remain the largest region during the forecast period due to the increasing usage of technologies and digitalization in the US and Canada. Asia Pacific is expected to witness the highest growth over the forecast period because of increasing awareness of safety, security, and energy efficiency.
Some of the features of "Growth Opportunities for the Global Home Automation Market 2017-2022: Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Global home automation market size estimation in terms of value ($M) shipment.
Trend and forecast analysis: Market trend (2011-2016) and forecast (2017-2022) by segments and region.
Segmentation analysis: Global home automation market size by various applications such application, installation type, technology in terms of value and volume shipment.
Regional analysis: Global home automation market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of home automation in the global home automation market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of home automation in the global home automation market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global home automation market by application (safety and security, entertainment control, lighting, HVAC control, and others), by installation type (managed service, luxury, mainstream, and DIY), by technology (wired and wireless), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the home automation market?
Q.5 What are the business risks and threats to the home automation market?
Q.6 What are the emerging trends in this home automation market and reasons behind them?
Q.7 What are some changing demands of customers in the home automation market?
Q.8 What are the new developments in the home automation market? Which companies are leading these developments?
Q.9 Who are the major players in this home automation market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred by the major home automation suppliers in the last 5 years in home automation market?
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