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Global Home Automation Market will be worth US$21.6 billion by 2020: Transparency Market Research

Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Global home automation market was valued at USD 4.41 billion in 2014, growing at a CAGR of 26.3% from 2014 to 2020. Home automation systems refer to all such systems, whether used as a single application or as integrated solutions that are used to automate processes. They are electricity powered and are manually controlled (such as turning on the AC, dimming lights, managing entrance gate and cameras, operating smart appliances in a house, and so on. With technological advancements in several developing countries across the globe, home automation solutions are evolving continuously. Modern day home automation solutions utilize high end digital technology for providing better performance and efficiency.

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Advancements in technology are inspiring architects across the globe to build automated homes. As these modern homes evolve, they are unstoppably driving the global home automation market. Modern homes are using high-tech solutions for installing automated solutions that will help then run several programs in the homes with a single application. Most of these applications are powered by electricity and are controlled manually. For example, dimming lights, controlling the AC or HVAC system, locking and unlocking doors, and operating other such household functions from a central hub device is possible with home automation solutions.

The key driver for the global home automation market is the pressing need for high-performing solutions for domestic applications utilized in areas of safety, lighting, energy, entertainment, and HVAC. This market is also being supported by the growing Internet penetration in countries such as France, the U.K., and Germany. The safety and security segment has been earning the highest revenue so far in the global home automation market.In the coming few years, the energy-conscious population, who need better energy management solutions, will opt for automated applications. Additionally, increasing usage of smartphones, tablets, and other handheld devices is also adding to the convenience of establishing home automation in newer constructions. The market research report states that North America leads the global home automation market and is likely to remain in this position through 2020. Adoption of new technologies and consumer awareness will be the two most important factors driving the home automation market in North America. This segment will be followed by Asia Pacific and Europe as they will together account for 40% of the total home automation market.

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The report gives a perfect analysis of the competitive landscape in the global automation market by putting forth the company profiles. It also provides an overview of the financial strategies, research and development activities, investment plans, and product portfolios of these companies. Some of the key players studied in the global home automation market research report are Honeywell International Inc., 2GIG Technologies, iControl Networks Inc., Crestron Electronics, Inc., ADT Corporation, AMX LLC, Control4 Corporation, Siemens AG, Johnson Controls, Vantage Controls, and Schneider Electric SA. With accurate segmentation of the global home automation market, the market research report gives its readers a bird's eye view of the dynamic trends in the market that are about to have an impact on its shape.

The global home automation market is segmented on the basis of following categories:

Home Automation Market: By application

  • Lighting
  • Safety and security
  • HVAC (Heating, Ventilation, and Air-Conditioning)
  • Entertainment (Home audio and video)
  • Others(Robotics, heath care)

Home Automation Market: By networking technology

  • Wired home automation systems
  • Power-line home automation systems
  • Computing network home automation systems
  • Wireless home automation systems

Home Automation Market: By type

  • Luxury (custom) home automation systems
  • Mainstream home automation systems
  • DIY (Do It Yourself) home automation systems
  • Managed home automation services

Home Automation Market: By geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

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Source:Transparency Market Research