What Has Been The Evolution of the Home Automation And Controls Market in Recent Years?
The home automation and controls market has seen considerable growth due to a variety of factors.
• The size of the home automation and controls market has seen swift expansion in the past years. It is projected to expand from $78.6 billion in 2024 to $88.9 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 13.1%.
The growth observed in the historical span can be credited to the emergence of IoT technology, increased consciousness about energy saving, heightened customer demand for convenience, the development of smart home ecosystems, and growing anxiety about home security.
What Is the Forecasted Market Size and Growth Rate for The Home Automation And Controls Market Size In The Coming Years?
The home automation and controls market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the home automation and controls market is predicted to witness steep growth, escalating to $144.61 billion by 2029 with a compound annual growth rate (CAGR) of 12.9%.
The expected growth during this forecast period is coming from the growing acceptance of voice-activated smart assistants, the increasing elderly population who desire independent living, the widespread availability of high-speed internet, swift urban development and smart city projects, and heightened consumer awareness. Key trends anticipated during this period involve improved integration with AI and machine learning, advancement in security attributes, smart home solutions tailored to aid the elderly, incorporation of solar panels, and implementation of 5G technology.
What Factors Are Driving Growth In The Home Automation And Controls Market?
The surge in the construction of residential properties is anticipated to boost the expansion of the home automation and controls market. A residential property is a facility that includes individual dwelling units for people to live in or spend much of their time. This increase in residential properties is due to the heightened demand for housing in urban regions, rising population figures, robust economic advancement, and increasing income levels. Home automation pertains to the smart control of safety, comfort, and general well-being features in a household or residential property. Also, these systems allow for remote surveillance and governance of vacation dwellings, rented properties, or secondary residences. For instance, the Central Statistics Office, a government agency in Ireland, reported in June 2023 that the residential property sector experienced a volume growth of 7.1% in Q1 2023 compared to Q4 2022. Accordingly, the surge in the construction of residential properties is fueling the expansion of the home automation and controls market.
What Are The Main Segments Of The Global Home Automation And Controls Market?
The home automation and controls market covered in this report is segmented –
1) By Type: Home Automation System, Mainstream Home Automation System, Managed Home Automation System
2) By Technology: Wired Home Automation Systems, Wireless Home Automation Systems, Powerline Home Automation Systems, Computing Network Home Automation Systems
3) By Application: Lighting, Heating, Ventilation And Air Conditioning (HVAC), Entertainment, Safety And Security, Other Applications
Subsegments:
1) By Home Automation System: Centralized Control Systems, Distributed Control Systems, Standalone Control Systems
2) By Mainstream Home Automation System: Smart Lighting, Smart Thermostats, Smart Security Systems, Smart Appliances, Smart Entertainment Systems
3) By Managed Home Automation System: Cloud-Based Managed Systems, Managed Security And Surveillance, Managed Energy Management Solutions
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How Are New Trends Impacting The Size Of The Home Automation And Controls Market?
Leading corporations within the home automation and controls market are prioritizing the creation of innovative automated home products to gain a competitive edge. These products comprise a variety of devices and systems designed to augment convenience, efficiency, and safety in homes through automated control and remote monitoring. For example, in June 2022, Hogar Controls, an American smart home and building automation firm, introduced the all-new Elite Series of home automation products in the Indian market. This broad lineup features advanced smart touch panels, top-of-the-line world-class controllers, digital door locks, and smart curtain motors. This product introduction aims to revolutionize home automation by providing convenience, security, and sophistication to Indian consumers.
Who Are the Key Players In The Home Automation And Controls Market?
Major companies operating in the home automation and controls market report are:
• Siemens AG
• Honeywell International Inc.
• Johnson Controls International PLC
• Koninklijke Philips N.V.
• Legrand Group
• ADT Inc.
• Logitech Harmony
• Ecovacs Robotics Co. Ltd.
• Crestron Electronics Inc.
• Nice S.p.A.
• Sonos Inc.
• Leviton Manufacturing Co. Inc.
• iRobot Corporation
• Lutron Electronics Inc.
• AMX LLC
• Control4 Corporation
• ecobee Inc.
• Netatmo SAS
• Wink Labs Inc.
• 2GIG Technologies Inc.
• August Home
• Aeotec Group GmbH
What Is The Most Dominant Region In The Home Automation And Controls Market?
North America was the largest region in the home automation and controls market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the home automation and controls market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
