The Business Research Company’s Home Automation Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, August 13, 2021 /EINPresswire.com/ — Growing technological advancements are shaping the home automation market. Major companies operating in the home automation sector are focused on developing technological solutions for home automation to strengthen their position. For instance, in December 2019, Crestron Electronics, a US-based manufacturer and distributor of audiovisual automation and integration equipment launched Horizon EX Dimmers and Keypads based on wireless mesh technology. The new series of wall-box controllers, which includes matching dimmers and keypads, provides an innovative custom control solution as part of a complete Crestron smart home.
Major players in the home automation industry are ABB, Crestron Electronics Inc., Schneider Electric, Honeywell International Inc., Johnson Controls Inc., Siemens AG, Legrand, Control4, Home Brain, Savant Systems Inc., Lutron Electronics Company, Sauter AG, United Technologies Corporation, Bosch Security and Safety Systems, Silvan Innovation Labs, Elan Home Systems LLC, Fueb, and Harman International.
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The global home automation market size is expected to grow from $48.52 billion in 2020 to $54.41 billion in 2021 at a compound annual growth rate (CAGR) of 12.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The home automation market is expected to reach $85.42 billion in 2025 at a CAGR of 11.9%. The increasing use of internet of things devices in a home automation system are expected to propel the growth of the home automation market in the forecast period.
The home automation market consists of sales of home automation devices by entities (organizations, sole traders, and partnerships) that use hardware and software technologies that allow users to control and manage their home’s appliances and devices. A home automation system is a technological solution that allows the majority of electrical, electronic, and technology-based activities in a home to be automated. Home automation is also referred to as domotics, and a home equipped with an automation system is referred to as a smart home.
The main types of products covered in TBRC’s home automation market report are lighting control, security and access control, HVAC control, entertainment, others. Lighting controls are a type of smart lighting gadget that allows users to adjust the amount, quality, and features of light in a specific area. These smart devices help to cut down on electricity waste while also promoting energy efficiency. The different technologies include wired home automation system, wireless home automation system and is implemented in various areas such as residential, commercial, others.
Home Automation Global Market Report 2021 – By Product (Lighting Control, Security And Access Control, HVAC Control, Entertainment), By Technology (Wired Home Automation System, Wireless Home Automation System), By End User (Residential, Commercial), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides home Automation market overview, forecast home Automation market size and growth for the whole market, home Automation market segments, and geographies, home Automation market trends, home Automation market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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