Home Automation industry is expected to be the $to Exceed 122 billion Mark by the year 2024 – ResearchAndMarkets.com – Business Wire
DUBLIN–(BUSINESS WIRE)–The “Home Automation market – forecasts to 2019 to 2024” report has been added the ResearchAndMarkets.com’s offers.
The home automation market was worth US$to reach 62.471 billion in 2018 and is expected to grow at a CAGR of 11.86% and a market size of US$122.391 billion by the year 2024.
The fast mobile connections, increasing awareness of the need for low-power-consumption devices, technological progress, change in consumer lifestyle, relate to increasing safety, and favorable government regulations are the main drivers of the home automation market. In addition, the growth in the IoT market and the construction industry is fuelling demand for the home automation market.
However, the Telecom infrastructure, improper standardization of the products and the higher cost of the home automation system, impede the development of this market. The phone-based app for the home automation is the new trend in this market, but the higher initial installation costs act as a barrier to this market.
Geographically, North America is expected to be significant growth in the forecast period. Technological progress and consumer lifestyles to help to adopt a more home-automation-system in this region. The increase in electricity prices, the favorable policy of the government and the rapid growth of the real estate industry, region, contributing to the increase in the demand for automation in the Asia-Pacific.
the Report scope
This report is a comprehensive study that aims to give you the most important trends on the market through the various chapters focusing on different aspects of the market. The study provides a detailed market overview of the market dynamics sections, which Details major market drivers, restraints, and opportunities in the current market. The report analyzes important opportunity for regional markets and the latest technology penetration by life cycle analysis. The report also analyzes the market through comprehensive market segmentation, by application, network technology, and by geography.
The home automation market is segmented based on application, network technology and geography. Based on the application, the market has become divided into lighting, security, access control, entertainment, HVAC, and other On the basis of network technology, the market-bound and wire segmented into wireless.
The regional analysis with detailed analysis and forecast for the period 2018 to 2024. The global market was divided into North America, South America, Europe, the Middle East and Africa (MEA) and the Asia-Pacific regions. The report also analyzes the 15 largest countries in these regions with a thorough analysis and forecasting, together with the prevailing market trends and opportunities, each of these countries, for the manufacturer.
Major players covered in the home automation market, together with their relative competitive position and strategies. The report also mentions the recent deals and investments of the various participants in the market in the last few years. The company profiles section details the overview of the business activity, the financial development of the last three years, major products and services, which are offered together with the recent developments, this major player in the home automation market.
the company Profiles
- Schneider Electric
- Honeywell International Inc.
- Johnson Controls
- Control4 Corporation
- Crestrong Electronics Inc.
- Lutron Electronics Co. Inc.
- Savant Systems LLC
For more information about this report https://www.researchandmarkets.com/r/blvpjc visit
Released on Fri, 22 Nov 2019 16:44:00 +0000