Smart-Home-Automation market is growing and is expected to be around 12% to reach $94 billion euros by 2025 – knowledge on Technological analysis, strategies, investments, plans, Trends, competition and opportunities Facing market research globe Newswire
Dallas, Texas, March 13, 2020 (GLOBE NEWSWIRE) — The “Smart-Home-Automation market, by application (lighting systems, Surveillance and security, entertainment, ventilation and air conditioning systems), component (Hardware, Software, and services), technology (Wired and Wireless), And Region-Global Forecast to 2018 up to 2025” study, provides an elaborative view of the historical, current and projected market estimates.
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One of the most important factors expected to drive the smart home automation market over the forecast period, increasing demand for digital features such as the convenience of remote operation, where you have access to techno-economies of advanced devices, especially in the developed economies. To have the main application, Monitoring and security, and lighting control has a significant presence in the smart home automation market. Home automation allows users to turn off the lights, turn up the heat, automatic door locking, regardless of the location. It provides various functions and services, such as remote lighting control, thermostat, fire and carbon monoxide monitoring, home automation, security systems and cameras, home appliances control, alarm systems, live video monitoring, real-time text and E-Mail notifications.
The global smart-home-automation market is expected to exceed USD 94 billion by 2025 by growing at a CAGR of over 12%, during the forecast period 2020-2025. With the advent of the Internet of things (IoT), the emergence of the next Generation of the connected systems and the increasing spread of smartphones and gadgets around the world, the home automation market is expected to be a double-digit growth rate. Also the home automation market is driven by rising energy costs, increases energy efficiency and the optimization of the energy consumption by the house.
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lighting, entertainment, safety & security, HVAC and others are just some of the applications analyzed in this market. Among these, the lighting segment is expected to be a significant growth for the forecast period. Increase in the expansion of large companies such as Phillips, GE Lightning, Advanced Lighting technology, etc. in emerging countries is expected to drive the lighting segment in the specified analysis period. In addition, the introduction of wireless technologies increases, is another factor for the growth in this segment in the overall market analysis.
The report also sheds light on the various aspects of the global smart home automation market by assessing the market with help of value chain analysis. The report includes a number of quality aspects of smart home technology in the market drivers, market restraints and key trends in the industry. In addition, the report offers an in-depth assessment of market-competition with company profile of global as well as local vendors./p>
The global smart-home-automation market has strong competition between the established and the new emerging players. These market participants aim to gain a competitive advantage over the other players by participating in partnerships, mergers and acquisitions, and the expansion of their company.
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Based on the applications, the market includes categories such as lighting systems, security and surveillance, entertainment, and climate control technology. The market for lighting system is expected to witness the highest growth over the forecast period.
On the geographic front, North America dominates the global smart home automation market in the year 2019 and is not expected to do so over the forecast period 2019-2025. This region witnesses a Mature market for technology-adoption of advanced IT infrastructure, the presence of many companies, and the availability of powerful technical know-how. The United States and Canada are expected to significantly contribute to the growth of the market in North America.
The key players in the global smart home automation market are Honeywell, Johnson Controls, Control4, Cisco Systems, ADT, and others. From 2019, the market for smart-home automation providers is fragmented with the presence of established global and domestic players around the world. In addition, the established companies will come out with updated versions of smart home automation systems with updated and expanded digital and automation solutions.
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Major points from table of contents:
Chapter 1 introduction
Chapter 2 research and methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Smart-Home Automation market by application
Chapter 6 Smart-Home Automation market by component
Chapter 7 Smart-Home Automation market by technology
Chapter 8 Smart-Home Automation market by Region
Chapter 9 Competitive landscape
Chapter 10 Company Profiles
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Released on Fri, 13 Mar 2020 06:15:31 +0000