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Home Automation Global Market Report 2021: COVID-19 Growth And Change

Home Automation Global Market Report 2021: COVID-19 Growth And Change

  • September 2021
  • 175 pages
  • ID: 6144641
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the home automation market are 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.

The global home automation market is expected to grow from $48.52 billion in 2020 to $54.41 billion in 2021 at a compound annual growth rate (CAGR) of 12.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $85.42 billion in 2025 at a CAGR of 11.9%.

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.

The main types of products in home automation are lighting control, security and access control, HVAC control, entertainment, others.Lighting controls are a type of smart lighting gadget that allows users to adjust the amount, quality, and features of light in a specific area.

These smart devices help to cut down on electricity waste while also promoting energy efficiency. The different technologies include wired home automation system, wireless home automation system and is implemented in various areas such as residential, commercial, others.

North America was the largest region in the home automation market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The growing technological advancements are shaping the home automation market.Major companies operating in the home automation sector are focused on developing technological solutions for home automation to strengthen their position.

For instance, in December 2019, Crestron Electronics, a US-based manufacturer and distributor of audiovisual automation and integration equipment launched Horizon EX Dimmers and Keypads based on wireless mesh technology. The new series of wall-box controllers, which includes matching dimmers and keypads, provides an innovative custom control solution as part of a complete Crestron smart home.

In June 2020, Jersey Telecom (JT) Ltd., a UK-based telecommunications company acquired Zero1 for an undisclosed amount. Through this acquisition, Jersey Telecom (JT) expanded its intelligent engineering and home automation service offerings. Zero1 is a designer and supplier of environment and entertainment automation systems for homes and businesses in the Channel Islands.

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 (also known as IoT) 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 will account 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 internet of things (IoT) devices in home automation systems drive the growth of the home automation market.

The countries covered in the home automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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