Global IoT Home Automation Market was valued US$ 38.74 Bn in 2018, and is projected to reach at US$ XX Bn by 2026, growing at a CAGR of XX % during a forecast period.
IoT home automation is utilization of intelligent terminals, which is automation system to control home appliances and equipment. Increase in awareness of efficient energy usage, increase in electricity prices, and technological advancements are expected to drive home automation market growth. Also, rise in safety & security concerns fueled the adoption of home automation system, thus boosting the market growth.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
However, lack of awareness about home automation products and high initial investments in home automation are projected to hamper the home automation market growth. Increase in adoption of automated services is expected to provide profitable opportunities for the global IoT home automation market.
Entertainment control is expected to hold the largest share among different products in the IoT home automation market. The growth of the audio, volume, & multimedia room controls is driven by the convenience offered from these controls for managing and controlling entertainment systems in a house. Lighting control is estimated to be the second-largest market for IoT home automation systems during the forecast period.
Based on technology, the wireless segment is expected to dominate the wearable camera product market by 2024. Wireless technology is less offensive, have low set-up cost, and more convenient to use which has resulted in an increased adoption of it in the IoT home automation system.
The North American region is estimated to be the key regional segment over the forecast period. Asia Pacific region is experiencing a healthy growth in disposable income owing to macroeconomic stimulus, which is expected to drive market growth. Innovative technologies, such as voice controlled smart home devices, and growing geriatric population base are the key factors driving the smart home automation market demand over the estimated period.
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Key players operated in the IoT home automation market are AMX, ADT Pulse, Control4 Corporation, Crestron, Vera, HomeSeer, SmartThings, Frontpoint, Savant, Siemens AG, Johnson Controls, Honeywell, United Technologies Corporation, Schneider Electric, Acuity Brands, Monitronics International, Vivint Inc., and Assa Abloy.
Scope of Global IoT Home Automation Market:
Global IoT Home Automation Market, by Installation:
• Luxury home
• Mainstream home
• Managed home
• DIY Home
Global IoT Home Automation Market, by Application:
• Safety & security
Global IoT Home Automation Market, by Technology:
Global IoT Home Automation Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
Key players operated in Market include:
• ADT Pulse
• Control4 Corporation
• Siemens AG
• Johnson Controls
• United Technologies Corporation
• Schneider Electric
• Acuity Brands
• Monitronics International
• Vivint Inc.
• Assa Abloy.
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