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Home Automation System Market o Reach US$ 84.4 Billion by 2024 | CAGR 8.5%

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The global home automation system market size was US$ 51.9 Billion in 2018, growing at a CAGR of 7.8% during 2011-2018. On account of these factors, the market value is anticipated to reach US$ 84.4 Billion by 2024, expanding at a CAGR of 8.5% during 2019-2024.

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Home Automation System Market o Reach US$ 84.4 Billion by 2024 | CAGR 8.5%

  1. 1. Copyright © IMARC Service Pvt Ltd. All Rights Reserved Global Home Automation System Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved
  2. 2. Report DescriptionAbout IMARC Group The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.
  3. 3. Report DescriptionReport Description and Highlights Global Home Automation System Market Overview: As per the latest report by IMARC Group, titled “Home Automation System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global home automation system market size was US$ 51.9 Billion in 2018, growing at a CAGR of 7.8% during 2011-2018. Home automation systems refer to computer-dependent control system which are installed in homes to automate, control and monitor several appliances and electrical equipment. The systems utilize a combination of hardware and software that enables control over devices around the house with the touch of a button. They include automated ventilation, heating, cooling entertainment, lighting, power, alarm and security systems. They employ sensors, actuators and control devices to detect triggers and further send data to the central controller installing these systems in residential premises offers various benefits such as improved security and energy savings. Home Automation System Market Trends Increase in safety and security concerns and growing awareness about efficient energy use are the two primary factors driving the market growth. This, coupled with stringent regulation by governments across the globe emphasizing on efficient energy consumption, has led to the widespread installation of automation systems in commercial and residential sectors.
  4. 4. Report DescriptionReport Description and Highlights 120.2 125.5 130.8 136.1 141.4 146.7 152.0 157.3 0 20 40 60 80 100 120 140 160 2011 2012 2013 2014 2015 2016 2017 2018 inBillionUS$ 160.0 165.3 170.6 175.9 181.2 186.5 0 20 40 60 80 100 120 140 160 180 2019 2020 2021 2022 2023 2024 InBillionUS$ Apart from this, green buildings are rapidly gaining popularity as they are environmentally responsible and resource-efficient. Since they utilize home automation technologies for managing energy use, the sales of these systems are proliferating worldwide. On account of these factors, the market value in anticipated to reach US$ 84.4 Billion by 2024, expanding at a CAGR of 8.5T% during 2019-2024. Request for a free sample report: https://www.imarcgroup.com/home-automation-system- market/requestsample
  5. 5. Report DescriptionReport Description and Highlights Furthermore, an expanding base of wireless technologies, automation applications based on smartphones, and increasing penetration internet connectivity are also contributing to the market growth. Key Market Segmentation: Market Segmentation by Type • Managed Home Automation Systems • Mainstream Home Automation Systems • DIY (Do-It-Yourself) Home Automation Systems • Luxury (Custom) Home Automation Systems Base on the type, managed home automation system accounts for the majority of the total market share. Other major segments include luxury, mainstream and Do-It-Yourself systems. Market Segmentation by Application • Lighting Control • Security and Access Control
  6. 6. Report Description Report Description and Highlights • HVAC Control • Entertainment and Other Controls On the basis of application, the market has been divided into lighting control, security and access control, HVAC control, entertainment and other controls. Amongst these, security and access control systems currently represent the most popular application segment. Market Segmentation by Region • Asia Pacific • Europe • North America • Middle East and Africa • Latin America On the geographical front, the market has been segregated into North America, Europe, Asia and Rest of the world. Currently, Asia holds the dominant market share. Competitive Landscape:
  7. 7. Report DescriptionReport Description and Highlights The competitive landscape of the market has also been examined with some of the key players. • Siemens AG • Honeywell International, Inc. • Johnson Controls Inc. • Schneider Electric SE • Legrand • Ingersoll-Rand PLC • ABB Ltd. • Acuity Brands, Inc. • Samsung Electronics Co., Ltd. For more information, click here: https://www.imarcgroup.com/home-automation-system-market
  8. 8. A partial List of our Clients We are the trusted business partners to the world's leading corporates, governments, and institutions Partial List of Clients
  9. 9. A partial List of our Clients We are the trusted business partners to the world's leading corporates, governments, and institutions Partial List of Clients
  10. 10. Report DescriptionReport Description and Highlights © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.
  11. 11. FOR MORE DETAILS Visit us at : Stay With Us: TELEPHONE: +1-631-791-1145 E-MAIL: sales@imarcgroup.com https://www.imarcgroup.com Contact Us

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