New York, NY, June 22, 2021 (GLOBE NEWSWIRE) – Facts and Factors has released a new research report titled Home automation market by management (on-premise and in the cloud), by application (lighting control, security and access control, HVAC control, entertainment control and others), by software and algorithm (behavioral and Proactive) and by Regions – Global and Regional Industry Outlook, Comprehensive Analysis and Forecast, 2021-2026 “.
âAccording to the recent research report, the demand for Home automation market size and share is expected to reach $ 89.6 billion by 2026 from $ 48.7 billion in 2020, at a compound annual growth rate (CAGR) of 11.5% during the forecast period 2021 to 2026 “
Global Home Automation Market: Overview
Home automation system refers to devices that can safely regulate and monitor a range of home appliances such as lighting, air conditioning and entertainment systems, to name a few. The latest version of these systems additionally has the ability to control alarm systems and home control systems. The major driving factors behind the global home automation market are the growing popularity of the Internet of Things and the increased prevalence of consumers owning stylish and luxurious devices. Moreover, increasing consumer spending and increasing per capita income among consumers will further boost the growth of the global home automation market during the forecast.
The strategic adoption of brand placement with celebrities and brands and increasing marketing budgets among manufacturers will further enable increased revenue opportunities for the global home automation market over the forecast. The increasing penetration of cloud-based solutions and the rise of smart homes in various regions will further increase the footprint of the global home automation market during the forecast. Pre-defined layouts for easy integration of these applications will further boost the growth of the global home automation market during the forecast.
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- 2020 updated Report Introduction, Industry Overview and In-Depth Analysis
- Impact analysis of the COVID-19 epidemic included
- Research report of over 225 pages (inclusion of updated research)
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- Updated regional analysis 2020 with graphical representation of size, share and trends
- Includes updated list of table and figures
- The updated report includes major market players with their business strategy, sales volume, and revenue analysis
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(Note: The sample in this report is updated with the COVID-19 impact analysis before delivery)
Major players in the industry market
- Creston Electronics Inc.
- AMX SARL
- Control4 Company
- Honeywell International Inc.
- Johnson Control Inc.
- Siemens AG
- Savant Systems LLC
- ABB SA
- Schneider Electric
- Acuity marks
- Remote technologies
- Develco products
- Favorable orders
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Key questions answered in this report:
- What is the projected market size and growth rate of the Home Automation market?
- What are the key factors driving the home automation market growth?
- What are the major companies operating in the Home Automation market?
- What segments are covered by the cannabis home automation market?
- How can I get free examples of Home Automation Market Company Reports / Profiles?
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Here are some notable developments that are expected to change the course of the home automation market during the forecast:
- The Indian government recently launched the âMake in Indiaâ campaign which aims to increase the output of startups that develop home automation products and services.
- Schneider Electric launched Easergy P3 on the Indian market, a medium protection relay circuit that takes into account real-time analysis and advanced technological solutions such as the Internet of Things (IoT).
Apple, Inc. has developed a HomeKit that allows users to connect their iPhone to their range of smart home devices and perform actions such as opening garage doors, controlling lights, and controlling home cameras. security.
On the basis of applications, the global home automation market can be divided into lighting control, security and access control, HVAC control, entertainment control, and others. The entertainment control segment will occupy the largest market share in the advent of the forecast in terms of contribution to global revenue. The factors responsible for the dominance of the segment can be attributed to the growing applications based on the increased convenience and functionality of these devices.
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On the basis of management, the global home automation market can be fragmented into on-premises and cloud. The on-site segment will account for the largest market share during the forecast due to the accompaniment of a central hub capable of monitoring lighting systems, thermostats and HVAC to name a few . Additionally, the ability to control a number of devices from a single contact source will help drive the growth of the global home automation market during the forecast period.
Global Home Automation Market: Growth Factors
Growing factors responsible for the growth of the global home automation market are the growing potential and popularity of the Internet of Things (IoT) coupled with the increased preference for technology which relies on a range of connected devices including TVs, televisions, refrigerators, and other appliances. The increase in disposable income and the growing preference for elegant and luxurious lifestyles in developing countries will drive the market growth to higher potential. Additionally, strategic adoption associations and increasing marketing budget will push the boundaries of the global home automation market over the forecast. Moreover, the rapid adoption of cloud-based solutions in smart home devices will open up new revenue opportunities for the global home automation market.
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Global home automation market: segmentation
The global home automation market can be segmented into management, product, software and algorithm, application, and regions.
The global home automation market can be divided into on-premises and cloud on the basis of management. The premises segment is expected to gain the largest market share upon the advent of forecasts due to its functionality of an accompanied central hub that regulates lights, thermostat, HVAC, audio and streaming devices to from a single source. In addition, they are the ideal source of management systems to connect a greater number of devices. Based on the application, the global home automation market can be fragmented into lighting control, security and access control, HVAC control, entertainment control, and others.
Asia-Pacific is expected to experience the largest market share during the forecast period
Asia-Pacific is expected to experience the largest market share in the advent of forecasting due to the growth of the industrial sector coupled with the growing consumer awareness of home automation systems. Emerging economies such as India and China focused on the expansion of smart cities indoors will further boost the home automation devices market during the forecast period. In addition, the presence of a larger population in the region with increasing disposable income will help boost sales in the global home automation market.
Browse the full report “Home automation market by management (on-premise and in the cloud), by application (lighting control, security and access control, HVAC and entertainment control and others), by software and algorithm (behavioral and proactive) and By Regions – Global & Regional Industry Outlook, Comprehensive Analysis and Forecast, 2021-2026” at https://www.fnfresearch.com/home-automation-market
The global home automation market can be segmented into:
Global Home Automation Market: Analysis by Management Segment
Global Home Automation Market: Analysis by Application Segment
- Lighting control
- Security and access control
- HVAC control
- Entertainment control
Global Home Automation Market: Analysis by Software and Algorithm Segment
Highlights of this report:
- Statistically validated analysis of historical, current and forecasted industry trends with information and authenticated data on market sizes in terms of value and volume, where applicable
- Detailed list of top buyers and end users (consumers) analyzed by regions and applications
- Overview of the main marketing strategies and the main sales channels adopted in the market
- Market attractiveness analysis and analysis of key investment opportunities in the market in the future
- Direct and indirect factors that have had an impact on the industry as well as the proposed justifications that are expected to affect the industry in the future
- Historical and projected market shares of companies / suppliers / OEMs / suppliers, competitive landscape and player positioning data
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