Global Home Automation Market Report 2022 – Market Forecast, Trends And Strategies

The global home automation market size is expected to grow from $54.41 billion in 2021 to $61.62 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The change in the home automation market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $95.07 billion in 2026 at a CAGR of 11.4%.

What is the Global Home Automation Market?

The home automation market consists of sales of home automation devices by entities (organizations, sole traders, and partnerships) that use hardware and software technologies that allow users to control and manage their home's appliances and devices. A home automation system is a technological solution that allows the majority of electrical, electronic, and technology-based activities in a home to be automated. Home automation is also referred to as domotics, and a home equipped with an automation system is referred to as a smart home.

Get a Sample of the global home automation market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5244&&type=smp

What drives the Global Home Automation Market?

The increasing use of internet of things (IoT) devices in a home automation system are expected to propel the growth of the home automation market in the forecast period. The Internet of Things based home automation system uses internet protocols or cloud computing to operate all of the smart home's equipment. The IoT-based home automation system has numerous advantages over wired systems, including flexibility, ease-of-installation, avoidance of the complexity of flowing through wires or weak electrical wiring, easy problem detection and triggering, and, most all, mobility. For instance, according to the Ericsson statistics on IoT in modern homes, consumer devices accounted for 63% of all installed IoT equipment in 2020 and the number of mobile IoT connections is predicted to reach 3.5 billion by 2023. Therefore, the increasing use of IoT devices in home automation systems drive the growth of the home automation market.

Get the full global home automation industry report here:

Global Home Automation Market Segments
The global home automation market is segmented:
By Product: Lighting Control, Security and Access Control, HVAC Control, Entertainment, Others
By Technology: Wired Home Automation System, Wireless Home Automation System
By End-User: Residential, Commercial, Others
By Geography: The regions covered in the home automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Home Automation Global Market Report 2022provides market size and growth forecasts for the global home automation market, global home automation market share, home automation market segments and geographies, home automation market competitive landscape including leading competitors’ revenues, profiles and market shares. The home automation market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Home Automation Industry Playersinclude ABB, Crestron Electronics Inc., Schneider Electric, Honeywell International Inc., Johnson Controls Inc., Siemens AG, Legrand, Control4, Home Brain, Savant Systems Inc., Lutron Electronics Company, Sauter AG, United Technologies Corporation, Bosch Security and Safety Systems, Silvan Innovation Labs, Elan Home Systems LLC, Fueb and Harman International. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.