Global home automation market to reach $210.15 billion by 2030, outlines a report by Next Move Strategy Consulting – Yahoo Finance | Region & Cash

Next Move Strategy Consulting

The increase in construction activities worldwide, the increasing need for energy efficient solutions and the increasing demand for safety and security in homes are driving the growth of the global home automation market.

NEW YORK, July 15, 2022 (GLOBE NEWSWIRE) — According to the report published by Next Move Strategy Consulting, the global home automation market has accumulated US$84.33 billion in 2021 and is projected to generate US$210.15 billion by 2030, growing at a CAGR of 10.7% from 2022 to 2030. The report highlights the strategies used by leading market players to gain competitive advantage and strengthen their position in the market. Additionally, the report provides a detailed analysis of changing market dynamics, key segments, and market size and estimates.

The report ties the extensive analysis, statistics and information into 614 pages, supported by 842 tables and 426 figures, and aims to provide C-level executives, stakeholders and investors with detailed guidance to make the necessary decisions to achieve sustainable growth and identify investment opportunities. In addition, the study outlines the impact of the Covid-19 pandemic on the global home automation market size.

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report coverage

details

forecast period

2022-2030

base year

2021

Market size in 2021

$84.33 billion

Market size in 2030

$210.15 billion

CAGR

10.7%

number of pages

614

tables

842

Counting

426

segments covered

Connection Type, Application, Management, System Type, and Region.

driver

Increase in building construction activities worldwide

Increase in demand for protection and security in private homes

occasions

Increase in acceptance of automated services

Supporting government initiatives to develop smart cities

The report analyzes driving forces, restraining factors, and opportunities of the global Home Automation market to enable market players and new entrants to form appropriate strategies. The increase in construction activities worldwide, the increasing need for energy efficient solutions and the increasing demand for security and protection in residential homes are driving the growth of the market. However, the need for huge initial investment and lack of awareness in the developing countries are the factors that restrain the market growth.

Outlining the opportunities ahead for the home automation industry, the Lead Analyst for the Semiconductor & Electronics category at Next Move Strategy Consulting stated, β€œThe increasing adoption of automated services will provide new opportunities in the years to come. In addition, supportive government initiatives for smart city development and smart home adoption will create new opportunities in the years to come.”

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The report provides detailed segmentation of the global home automation market based on connection type, application, management, system type, and region. The analysis of these segments and their sub-segments are mentioned with the help of a tabular and graphical representation to help the market players to have a better understanding of the market.

Based on connection type, the report splits the market into wired and wireless. On the basis of application, the study further classifies the market into security, entertainment, lighting, heating, ventilation and air conditioning (HVAC), and others. The lighting segment is divided into dimmers, switches, relays and others. The Security & Safety segment is further analyzed into Access Control and Video Surveillance. The HVAC segment is divided into sensors, thermostats, control valves and others. The entertainment segment is further subdivided into home theater systems, volume and multimedia controls, and others.

On the basis of management, the research splits the market into cloud-based and on-premise. Based on system type, the report further segments the market into mainstream home automation, DIY (Do It Yourself) home automation, luxury home automation, and managed home automation.

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Based on region, the study segments the market into North America, Europe, Asia Pacific and RoW. According to the report, North America held the highest home automation market share in 2021 and will continue to dominate during the forecast period. This is due to the rise of smart cities and the introduction of smart home technologies. However, it is estimated that Asia-Pacific will maintain the constant CAGR during the forecast period owing to the increase in real estate and housing construction activities and the use of smart technologies to achieve energy savings.

The report analyzes each region and their respective countries based on each segment and sub-segment. Tables and figures are used to best present the analysis to better understand and determine growth patterns.

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The report offers a competitive scenario of the global Home Automation market along with a detailed analysis of each leading market player. The report highlights and analyzes leading players such as Honeywell International Inc, Johnson Controls International, ABB Ltd., United Technologies Corporation, Crestron Electronics, Inc., Siemens AG, Schneider Electric SE, Samsung, Lutron Electronics Co., Inc. and Legrand SA. The study highlights sales value based on business segments and geography, product portfolio and key competitors. This analysis is helpful for market participants and investors to identify opportunities to gain competitive advantage and achieve optimal profitability.

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About us:

Next Move Strategy Consulting is a leading market research and management consulting firm committed to providing clients with strategically analyzed, well-documented, cutting-edge research reports. The research industry is awash with many companies to choose from. What sets Next Move apart from the rest is its world-class research and obsession with turning data into knowledge by analyzing every piece of it and providing fact-based research recommendations backed by information gathered from over 500 million websites, paid databases, industry journals, and One-on-one consultations with industry experts from a variety of industries have been collected. The high quality, customized research reports with actionable insights and excellent end-to-end customer service help our clients make important business decisions that enable them to go ahead and have a competitive advantage in the industry.

We’ve served over 1,000 customers worldwide for over a decade, including 90% of the Fortune 500 companies. Our analysts constantly follow various high-growth markets and identify hidden opportunities in each sector or industry. We offer one of the industry’s best syndicates as well as custom research reports for 10 different industry verticals. We strive to deliver high quality research solutions in alignment with your business needs. Our industry-standard delivery solutions, ranging from pre-consultation to after-sales service, provide a superior customer experience and ensure the right strategic decision-making for businesses.

CONTACT: Joseph Lawrence Head - Client Engagement & Servicing Next Move Strategy Consulting E-Mail: Joseph@nextmsc.com Direct: +1-217-650-7991 You can also email us at - info@nextmsc.com Website: www.nextmsc.com

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