Smart Home Automation Market - Detailed Analysis of Current Industry Figures with Forecasts Growth

An Exclusive Market Reports "Global Smart Home Automation Market Size Status and Forecast 2026", The report classifies the global Smart Home Automation Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market.

The global smart home automation market generated $65,350 million in 2017 and is anticipated to grow at a CAGR of 13.6% during the forecast period.

Smart home automation offers solutions for controlling, monitoring and automating functions in a home. The different types of smart home automation systems include power line-based home automation, wired home automation system, and wireless home automation. Power line-based home automation is cost effective, and uses existing power lines to transfer the data. The wireless home automation uses wireless technologies such as IR, Zigbee, Wi-Fi, GSM, and Bluetooth among others for remote operation.

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Smart Home Automation Market By Component: -

Hardware

Software

Services.

Smart Home Automation Market By Application: -

Lighting

Entertainment

Security and Access Control

HVAC

Others.

The demand for smart home automation has increased owing to rising penetration of mobile devices, and growing demand for remote monitoring of homes. The rising concerns regarding safety and security coupled with increasing awareness regarding efficient energy use has resulted in the smart home automation market growth. The growing adoption of IoT and connected devices has increased the demand for smart home automation across the globe. The introduction of favourable government regulations further accelerates the adoption of smart home automation. Growing demand from emerging economies, development of smart cities, increasing adoption of IoT, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Smart Home Automation Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

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North America generated the highest revenue in the market in 2017 owing the established telecommunication industry, and increasing awareness regarding efficient energy use in the region. The increasing penetration of mobile devices, along with growing development of smart cities further boost the smart home automation market growth in the region.

Competitive Landscape

The global smart home automation market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis: -

Johnson Controls, ABB Ltd., Ingersoll-Rand plc, Schneider Electric, Legrand SA, Crestron Electronics, Inc., Siemens AG, Honeywell International, Inc., Control4 Corporation, and Leviton Manufacturing Company, Inc.

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.