Smart Home Automation Market Overview
Advances in technology and increased security options have expanded the world adoption of home automation devices. The event of automatic management systems has been simplified with the introduction of varied wireless technologies like ZigBee and Bluetooth and totally different standards for home automatic controls, like EnOcean and Z-wave, have enhanced the ability of various parts. The house automation market is additionally driven by advancements like IoT and growing adoption of the house observation system, increasing the requirement for home observation from remote locations and increasing shopper awareness of the convenience of good home devices, as well as lighting and automatic security systems are expected to accelerate the expansion of the market within the forecast amount.
The stringent regulations from regulatory bodies are delivery disruption within the power trade, with rising in power consumption. At present, restrictive bodies are that specializes in effective utilization and managing electricity consumption by making awareness regarding demotics or good homes. Different rules as obligatory by the several authorities. These rules are anticipated to spice up the expansion within the adoption of good automatic controls throughout the forecast period.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Component , Technology ,Application, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | ABB Ltd., Control4 Corporation, Crestron Electronics, Honeywell International Inc., Ingersoll-Rand plc, Johnson Controls, Legrand SA, Leviton Manufacturing Company, Lutron Electronics Co., Schneider Electric, and Siemens AG among others. |
The covid-19 Impact on Smart Home Automation Market:
Like several different industries, COVID-19 badly knocked the electronic and semiconductor trade. This new event has compact nearly 230 countries in exactly a couple of weeks, leading to the forced conclusion of producing and transportation activities at intervals and across the countries. This has directly affected the expansion of the sector. It's calculable that COVID-19 to depart over USD thirty billion impacts on the physics and semiconductor trade. The arena is majorly affected thanks to transport restrictions on major physics and semiconductor staple suppliers. However, the rising want for semiconductors in many industries can supply fast market recovery over the longer-term amount.
Smart Home Automation Market Segment Overview
By Component, The service segment is predicted to grow at a highest CAGR, within the forecast amount because of increasing demand and adoption of integrated services that is probably going to witness steady growth and so stay dominant throughout the forecast period.
By Technology, wireless segment is predicated to grow at a highest CAGR.
By Application, The smart kitchen segment is predicted to witness highest CAGR, because of the high demand for good appliances and with pacing technological advancements like web of Things the room idea has passed through very radical change with a serious concentrate on increasing potency round the room and reducing the time spent in cleaning and preparation.
Market Analysis, Insights and Forecast – By Component
· Hardware
· Software
· Service
Market Analysis, Insights and Forecast – By Technology
· Cellular
· Wireless
· Others
Market Analysis, Insights and Forecast – By Application
· Security
· Lighting
· Entertainment
· HVAC & Energy Management
· Smart Kitchen
Smart Home Automation Market Regional Overview
Region-wise, in terms of regions, North America dominated the sensible Home Market share by more than 35th, followed by APAC and Europe. The economy of North America is majorly influenced by the countries such as U.S. and Canada. In these countries, presence of leading players including Honeywell International INC., Acuity Brands, Inc., Johnson Controls INC., United Technologies Corporation and Crestron electronics, Inc. etc. are supplementing the market growth with their innovative products and promotions. Additionally to the current high rate of adoption and awareness of technological improvement during this region. As an example, according to the report given by in 2018, over tierce of us consumers have two or more smart home devices shows the enlargement of smart home automation market in North America.
Smart Home Automation Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Smart Home Automation Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Smart Home Automation are highlighted below.
· In 2023, Germany industrial large Siemens has announced a deal to acquire US start up Pixeom for an undisclosed fee, during a move to spice up its industrial automation, medical care division and smart home automation.
Smart Home Automation Market, Key Players
· ABB Ltd.
· Control4 Corporation
· Crestron Electronics
· Honeywell International Inc.
· Ingersoll-Rand plc
· Johnson Controls
· Legrand SA
· Leviton Manufacturing Company
· Lutron Electronics Co.
· Schneider Electric
· Siemens AG
Frequently Asked Questions (FAQ) :
Q1. What is the total CAGR expected to be recorded for the Smart Home Automation market during the forecast period?
Smart Home Automation market is expected to record a CAGR of ~ xx% during the forecast period.
Q2. Which segment is projected to hold the largest share in the Smart Home Automation Market?
Smart kitchen segment is projected to hold the largest share in the Smart Home Automation Market.
Q3. What are the driving factors for the Smart Home Automation market?
Advances in technology and increased security options have expanded the world adoption of home automation devices are key factors that boost the growth of the Smart Home Automation market progressively
Q4. Which Segments are covered in the Smart Home Automation market report?
Component, Technology, Application and Region, these segments are covered in the Smart Home Automation market report
Q5. Which are the prominent players offering Smart Home Automation?
ABB Ltd., Control4 Corporation, Crestron Electronics, Honeywell International Inc., Ingersoll-Rand plc, Johnson Controls, Legrand SA, Leviton Manufacturing Company , Lutron Electronics Co., Schneider Electric , Siemens AG are some of the key players offering Smart Home Automation
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Smart Home Automation Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Component
- 5.2.1. Hardware
- 5.2.2. Software
- 5.2.3. Service
- 5.3. Market Analysis, Insights and Forecast – By Technology
- 5.3.1. Cellular
- 5.3.2. Wireless
- 5.3.3. Others
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Security
- 5.4.2. Lighting
- 5.4.3. Entertainment
- 5.4.4. HVAC & Energy Management
- 5.4.5. Smart Kitchen
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East, and Africa
6. North America Smart Home Automation Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Component
- 6.2.1. Hardware
- 6.2.2. Software
- 6.2.3. Service
- 6.3. Market Analysis, Insights and Forecast – By Technology
- 6.3.1. Cellular
- 6.3.2. Wireless
- 6.3.3. Others
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Security
- 6.4.2. Lighting
- 6.4.3. Entertainment
- 6.4.4. HVAC & Energy Management
- 6.4.5. Smart Kitchen
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Smart Home Automation Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Component
- 7.2.1. Hardware
- 7.2.2. Software
- 7.2.3. Service
- 7.3. Market Analysis, Insights and Forecast – By Technology
- 7.3.1. Cellular
- 7.3.2. Wireless
- 7.3.3. Others
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Security
- 7.4.2. Lighting
- 7.4.3. Entertainment
- 7.4.4. HVAC & Energy Management
- 7.4.5. Smart Kitchen
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Smart Home Automation Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Component
- 8.2.1. Hardware
- 8.2.2. Software
- 8.2.3. Service
- 8.3. Market Analysis, Insights and Forecast – By Technology
- 8.3.1. Cellular
- 8.3.2. Wireless
- 8.3.3. Others
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Security
- 8.4.2. Lighting
- 8.4.3. Entertainment
- 8.4.4. HVAC & Energy Management
- 8.4.5. Smart Kitchen
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East, and Africa Smart Home Automation Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Component
- 9.2.1. Hardware
- 9.2.2. Software
- 9.2.3. Service
- 9.3. Market Analysis, Insights and Forecast – By Technology
- 9.3.1. Cellular
- 9.3.2. Wireless
- 9.3.3. Others
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Security
- 9.4.2. Lighting
- 9.4.3. Entertainment
- 9.4.4. HVAC & Energy Management
- 9.4.5. Smart Kitchen
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. ABB Ltd.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Control4 Corporation
- 10.6. Crestron Electronics
- 10.7. Honeywell International Inc.
- 10.8. Ingersoll-Rand plc
- 10.9. Johnson Controls
- 10.10. Legrand SA
- 10.11. Leviton Manufacturing Company
- 10.12. Lutron Electronics Co.
- 10.13. Schneider Electric
- 10.14. Siemens AG
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
