The global smart home automation market is expected to
reach USD 130.0 billion by 2025, according to a new report by Grand View
Research, Inc. The growing demand for the convenience of remote and real-time
operation of smart home automation system has increased the growth and
penetration of the smart home automation. Increasing urban and geriatric
population have created the need to incorporate smart home automation concept
in order to address the arising challenges. Further, increase in demand of
smartphones and easy accessibility of internet are expected to fuel growth in
the demand for the in the coming future. The growing adoption of the automation
in security, lighting, HVAC, energy management, and smart kitchen arenas is
anticipated to revolutionize the market by 2025.
The
market has been segmented based on varied technology of smart home automation,
such as cellular, wireless, and others. Based on applications, the market has
been segmented into security, lighting, entertainment, HVAC & energy
management, and smart kitchen. The entertainment sector is the biggest
application sector in terms of size and is expected to dominate for the
forecast period owing to high demand of home theaters, touchscreens,
audio/video controls, and other entertainment controls.
The
growing awareness and popularity of smart home automation is encouraging
manufacturers to invest in research & development for creating better
products. Manufacturers are making significant investments to simultaneously
develop several new products in an effort to enhance the users experience.
Researchers are focusing on innovating reliable and cost-effective products.
This industry is expected to witness an
increase in share owing to the growing adoption of systems or devices in a
number of applications such as security, lighting, entertainment, HVAC &
energy management, and smart kitchen. This technology has evolved with
increasing preference among consumers for convenience, connectivity, safety,
and security which are expected to fuel growth in the demand for the smart home
automation systems.
Want
to Access Research Report of Smart Home Automation Market Click the Link Below https://www.grandviewresearch.com/industry-analysis/smart-home-automation-market
Further key findings
from the report suggest:
· The
growing demand for smart home automation can be accredited to the increasing
preference among consumers for convenience, connectivity, safety, and security.
· The
growing penetration of Internet of Things (IoT) and the advancement of Internet
accessibility which helps in the move to direct digital controls for better
machine to machine (M2M) communication have encouraged users to adopt the smart
home automation technology.
· With
the arrival of various wireless technologies such as ZigBee, Z-Wave, EnOcean,
C-Bus, Wi-Fi, Bluetooth, KNX, and Thread, installation of automated systems has
been simplified. Wireless technology is less invasive, have low set-up cost,
and more convenient to use.
· The
North American region dominated the market, accounting for the largest global
market share in 2016 owing to its large consumer base.
· Key
industry participants include ABB Ltd. (Switzerland), Honeywell International
Inc. (U.S.), Johnson Controls (U.S.), Schneider Electric (France), and Siemens
AG (Germany).
Grand
View Research has segmented the smart home automation market based on
component, technology, application, and region:
Component Outlook (Revenue, USD Million;
2014 - 2025)
·
Hardware
·
Software
·
Service
Technology Outlook (Revenue, USD Million;
2014 - 2025)
·
Cellular
·
Wireless
·
Others
Application Outlook (Revenue, USD Million;
2014 - 2025)
·
Security
·
Lighting
·
Entertainment
·
HVAC
& Energy Management
·
Smart
Kitchen
Regional Outlook (Revenue, USD Million;
2014 - 2025)
·
North
America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
·
Asia
Pacific
o China
o Japan
o India
·
South
America
o Brazil
·
The Middle East &
Africa (MEA)
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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