According to the new market
research report "Home Automation System Market
by Protocol and Technology (Network and Wireless), Product (Lighting, Security
and Access Control, HVAC and Entertainment Control), Software and Algorithm
(Behavioral and Proactive), and Geography - Global Forecast to 2022",
The Home automation market is expected to grow from USD 39.93 billion in 2016
to USD 79.57 billion by 2022, at a CAGR of 11.3% during the forecast period.
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Home automation refers to the
automation and security of home and household activities. It may be used for
isolated programmable devices, e.g., thermostats and sprinkler systems. But,
home automation precisely describes homes in which lights, appliances,
electrical outlets, heating and cooling systems, and others are connected to a
remotely accessible network. Thus, Home automation systems enable power savings
and also helps in enhancing the standards of living.
The home automation systems have
also been classified on the basis of protocol & technology into network
technology, protocol & standards, and wireless technology. The home
automation system market has been segmented on the basis of product into
lighting control, security and access control, HVAC control, entertainment
control products, and others. The market is segmented on the basis software and
algorithms into behavioral and proactive type and on the basis of geography
into North America, Europe, Asia Pacific, and Rest of the World.
The lighting
control market to grow at the highest CAGR during 2017–2022
The lighting control market is
expected to grow at the highest CAGR during the forecast period. The market for
lighting control is expected to grow at a higher rate because it reduces the
electricity consumption in homes as the sensors adjust the intensity of
artificial light according to the intensity of natural light. Moreover, the growing
environmental concerns have helped spread awareness regarding the importance of
home automation and home energy management measures. As a result of this
scenario, lighting controllers now play a vital role in reducing the
electricity consumption within the household, along with offering comfort to
the users.
The Home
automation market by proactive solutions to grow at the highest rate during
forecast period.
By software and algorithm type,
proactive solutions expected to grow with the highest CAGR during forecast
period. The proactive solutions are specifically designed to enable consumers
to understand energy patterns and take effective measures to reduce their
consumption. Some of the advanced algorithms can also ask the end user to send
the feedback across regarding whether the recommendations sent by the proactive
solutions were true and useful. This enables the user and service companies to
test the functionality and reliability of the home automation systems.
North
America to hold a major share of the Home Automation market in 2016
North America held the largest
share of the global home automation system market in 2016. Factors such as the
increasing demand for reliable home energy management systems, enhanced home
security levels, and the growing popularity of integration of smart devices
such as tablets and smartphones in home automation solutions are driving the
growth of the market in this region. Furthermore, this region is also home to
some of the key players in the global home automation market, such as Acuity
Brands, Inc. (U.S.) ADT Corporation (U.S.), Control4 Corporation (U.S.),
Crestron Electronics, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Honeywell
International Inc. (U.S.), United Technologies Corporation (U.S.), and Johnson
Controls Inc. (U.S.).
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Major players involved in the
market include Legrand (France), Ingersoll-Rand PLC (Ireland), Schneider
Electric SE (France), Honeywell International, Inc. (U.S), ABB Ltd.
(Switzerland), Control4 Corporation (U.S), Crestron Electronics, Inc. (U.S),
Johnson Controls, Inc. (U.S), and Siemens AG (Germany).
