Home Automation System Market: Market Shares, Trends, Top Key Players, Industry Overview and Global Forecast to 2022

Factors such as the significantly growing IoT market, cost reduction measures enabled by home automation systems, presence of a large number of manufacturers expanding their product portfolios, and the increasing importance of home monitoring from remote locations are expected to drive the growth of the home automation system market. The global home automation system market was valued at USD 39.93 Billion in 2016 and is expected to grow at a CAGR of 11.3% during the forecast period. The base year considered for the study is 2016 and the forecast period is between 2017 and 2022. The objective of the report is to provide a detailed analysis of the market, based on network and technology, product, software & algorithm, and region. The report provides detailed information regarding major factors influencing the growth of the market. The report also gives a detailed overview of the value chain of the market and analyzes the market trends with the help of the Porter’s five forces analysis.

The home automation system market is expected to reach USD 79.57 Billion by 2022, at a CAGR of 11.3% during the forecast period between 2017 and 2022. The growth of this market is propelled by the cost reduction measures enabled by home automation systems, the presence of a large number of manufacturers expanding their product portfolios, and the increasing importance of home monitoring from remote locations.

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The entertainment control market is anticipated to hold the largest share among different products segments in the home automation system market. The growth of the audio, volume, & multimedia room controls is driven by the convenience offered by these controls for managing as well controlling the entertainment systems in a house.

Target Audience of the Report:

• Automation & control vendors
• Automation & control networking technology vendors
• Real estate builders
• System integrators
• Homeowners
• Project consultants
• Designers/consultants (HVAC, security, and fire & safety)
• Component manufacturers (sensors & controls)
• Software and solution providers
• Home management systems (product & service providers)
• Associations & standards
• Government bodies involved in green buildings

North America is expected to lead the overall home automation system market between 2017 and 2022. The demand for domestic energy management systems and the growing trend of green homes have contributed significantly toward the growth of this market. The number of smart homes in North America, especially the U.S., is much higher than that in any other region in the world. This market is expected to grow at a steady pace during the forecast period. The market in APAC is expected to grow at the highest CAGR during the forecast period owing to the presence of a significant number of new residential projects and strengthening of the building infrastructure.

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The home automation system market ecosystem comprises interface manufacturers, system integrators, and distributors. Players involved in the development of home automation system include Legrand, Ingersoll-Rand PLC, Schneider Electric SE, and Honeywell International, Inc., ABB Ltd., Control4 Corporation, Crestron Electronics, Inc., Johnson Controls, Inc., and Siemens AG.