Worldwide Home Automation USD 156 Billion by 2031

worldwide home automation usd 156 billion by 2031

The global home automation and controls market was valued at $52,982.2 million in 2021, and is projected to reach $156,586.5 million by 2031, registering a CAGR of 12.05% from 2022 to 2031. Home automation system refers to automatic and electronic control of household features, activity, and appliances. In addition, home automation is a network of hardware, communication, and electronic interfaces, which work to integrate smart devices with one another via Internet.

The key factor that drives the growth of the home automation and controls market include surge in adoption of energy efficient products and maintenance of secure & safe environment with enhanced user convenience in various industry verticals.

Rise in deployment of home automation devices in large commercial buildings and expensive homes is expected to drive the market growth for home automation and control system. Smart homes are gaining popularity with the introduction of high number of IoT applications, including heating, ventilation, HVAC system, multimedia, alarm systems, lighting, and home appliances.

However, security and control systems have become an essential part, owing to rise in security concerns in large commercial buildings.

Furthermore, surge in need for HVAC control, lighting control, and improved standard of living is expected to boost the market demand for home automation devices globally.

The home automation and controls market is segmented on the basis of type, technology, application, and region. By type, the market is divided into home automation system, mainstream home automation system, and managed home automation system. By technology, the market is analyzed across wired home automation systems, wireless home automation systems, power line home automation systems, and computing network home automation systems.

On the basis of application the market is fragmented into lighting, HVAC, entertainment, safety & security, and others. Region-wise, the home automation and controls market trends are analyzed across North America (the U.S., Canada, and Mexico), EMEA (the UK, Germany, Italy, France, Rest of Europe, Middle East and Africa), Asia (China, Japan, India, South Korea, and rest of Asia), and Latin America (Brazil, Argentina and Rest of Latin America).

The key players operating in the market include 2GIG Technologies, ABB Ltd, ADT Inc., AMX LLC, Control4 Corporation, Honeywell International Inc., Johnson Controls International PLC, Legrand Group (France), Leviton Manufacturing Co., Inc., and Siemens AG.

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the home automation and controls market analysis from 2021 to 2031 to identify the prevailing home automation and controls market opportunities. The market research is offered along with information related to key drivers, restraints, and opportunities. Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. In-depth analysis of the home automation and controls market segmentation assists to determine the prevailing market opportunities. Major countries in each region are mapped according to their revenue contribution to the global market. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players. The report includes the analysis of the regional as well as global home automation and controls market trends, key players, market segments, application areas, and market growth strategies.