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Last edited 20 Feb 2021
Global home automation market
The global home automation market was valued at around USD 5.0 billion in 2014 and is expected to reach USD 21.0 billion in 2020, growing at a CAGR of around 25% between 2015 and 2020.
Trends in home automation unclude; centralised control of lighting, HVAC (heating, ventilation and air conditioning), appliances, security locks on gates and doors and so on, designed to provide improved convenience, comfort, energy efficiency and security. It can also provide increased quality of life for older people or people with disabilities.
Home automation is growing in popularity due to decreasing cost and simplicity. Tablet and smartphone connectivity with home automation systems has made it very straight forward for end-users to manage household systems. In addition, they can help reduce energy consumption and provided improved safety and security. Improved internet connectivity in developed economies such as U.S. Japan, UK, Germany, France, etc. is driving the demand for home automation systems. However, a lack of awareness amongst end-users among emerging and underdeveloped nations and the high cost of home automation is expected to hlod back growth.
The key types of the home automation market are; luxury (custom) home automation systems, mainstream home automation systems, DIY (Do It Yourself) home automation systems and managed home automation services.
The networking technologies used in home automation are; wired home automation systems, power-line home automation systems, computing network home automation systems, wireless home automation systems are. The wireless system management segment dominated the market in 2014, accounting for more than 40% of the overall market. With the increasing use of products enabled with wi-fi technology, demand for wireless system management is expected to go up.
On the basis of applications the market can be segmented as; lighting, safety and security, HVAC (Heating, Ventilation, and Air-Conditioning), entertainment (Home audio and video), and other applications such as robotics, heath care etc. Safety and security was the largest application market in 2014, accounting for around 20% of the total market. Increasing demand for safety and security home automation systems can be attributed to the growing need for remote home monitoring solutions. Entertainment is the second largest application market.
The market was dominated by North America with a 40% share of the total market in 2014. North America is followed by Europe and Asia Pacific. Europe is expected to see robust growth due to strong demand from Germany, UK and France.
The market is highly competitive, with the presence of well-established global market participants. Crestron Electronics, Inc., Control4 Corporation, AMX LLC, ADT Corporation, 2GIG Technologies, Siemens AG, Johnson Controls, Honeywell International Inc., iControl Networks Inc., Vantage Controls, Schneider Electric SA are some of the key vendors in the market.
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