The report covers forecast and analysis for the home automation market on a global and regional level. The study provides historic data of 2014 along with a forecast from 2015 to 2020 based on revenue (USD Million). The study includes drivers and restraints for the home automation market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the home automation market on a global level.
According to the report, global home automation market was valued at around USD 5.0 billion in 2014 and is expected to reach USD 21.0 billion in 2020, growing at a CAGR of around 25% between 2015 and 2020. Zion Market Research has published a new report titled “Home Automation (Luxury, Mainstream, DIY (Do It Yourself) and Managed) Market by Networking Technology (Wired, Power-line, Computing Network and Wireless) for Lighting, Safety and security, HVAC, Entertainment and Other (Robotics and Heath care) Applications – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”.
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In order to give the users of this report a comprehensive view on the home automation market, we have included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the home automation market has also been included. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate, and general attractiveness.
Luxury (custom) home automation systems, mainstream home automation systems, DIY (Do It Yourself) home automation systems, managed home automation services are the key types of the home automation market. Vast variety of devices is used in access and security controls include motion sensors, intrusion detection system, bit screen, video surveillance and keypads, alarms. Smart home system’s products are segmented into access and security control, recreation management, energy management, entertainment, as well as HVAC control.
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Wired home automation systems, power-line home automation systems, computing network home automation systems, wireless home automation systems are the networking technologies used in home automation. Wireless system management segment dominated the home automation market in 2014. It accounted for more than 40% of the overall market in 2014. With increasing use of products enabled with wi-fi technology, demand for wireless system management is expected to go up.
On the basis of applications home automation market can be segmented as lighting, safety, and security, HVAC (Heating, Ventilation, and Air-Conditioning), entertainment (Home audio and video), other applications like robotics, healthcare etc. Safety and security was the largest application market for home automation in 2014, which accounted for around 20% share of the total market in 2014. Increasing demand for safety and security home automation systems can be attributed to the growing need for remote home monitoring solutions. Entertainment is second largest application market for home automation systems industry.
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Home automation market was dominated by North America with around 40% shares of the total market in 2014. North America is followed by Europe and Asia Pacific. Europe is expected to witness robust growth in home automation systems market owing to strong demand from Germany, UK and France. Global home automation market is highly competitive, with the presence of well-established global market participants. Crestron Electronics, Inc., Control4 Corporation, AMX LLC, ADT Corporation, 2GIG Technologies, Siemens AG, Johnson Controls, Honeywell International Inc., iControl Networks Inc., Vantage Controls, Schneider Electric SA are some of the key vendors in the market.