Smart Home Automation System Revenues to Hit US$34 Billion in 2020, Says ABI Research

Global revenues from smart home automation systems will grow at a 21% CAGR between 2015 and 2020, according to ABI Research. North America will account for the lion’s share of the smart home automation system revenues in 2020, contributing close to 46% globally, followed by Europe and Asia-Pacific.
 
“Smart home automation system revenue was primarily driven by mass consumer adoption of smart home security systems but the market is also witnessing strong revenue growth from the adoption of smart plugs and smoke and air quality monitors,” says Senior Analyst Adarsh Krishnan.
 
Regional differences are also reflected in device adoption. In 2014, North America and Western Europe witnessed increased adoption of security cameras, especially those with embedded motion sensors which were used not only for home security but also indoor activity tracking. In China, due to increasing concern about air quality, environmental sensors are gaining popularity. To augment growing domestic demand, in 2014, Alibaba, Xiaomi, Tencent, and Baidu announced their entry into the smart home market with air quality monitors.

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