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Growth Opportunities for the Global Home Automation Market
Trends, opportunities and forecast in
this market to 2022 by application (safety and security, entertainment
control, lighting, HVAC control, and others), by installation type
(managed service, luxury, mainstream, and DIY), by technology (wired
and wireless), and by region (North America, Europe, Asia Pacific, and
the Rest of the World)
The future of the home automation market looks attractive with opportunities in the safety and security, HVAC, entertainment, and lighting control applications. The global home automation market is expected to reach an estimated $75.2 billion by 2022 with a CAGR of 11.4% from 2017 to 2022. The major growth drivers for this market are increasing consumer need for simplicity and a personalized experience, growing awareness related to safety and security, and the adaption of cloud-based technologies.
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Emerging trends, which have a direct impact on the dynamics of the home automation industry, include growing demand for internet of things (IoT) technology in home automation systems, development of video enabled drones, and constant developments in security technology products such as smart cameras and various sensors and detectors.
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