Global Home Automation Market will reach USD 21.0 Billion by 2020
Zion Market Research has published a new report titled “Home Automation Market (Luxury, Mainstream, DIY (Do It Yourself) and Managed) by Networking Technology (Wired, Power-line, Computing Network and Wireless) for Lighting, Safety and security, HVAC, Entertainment and Other (Robotics and Heath care) Applications - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”. According to the report, global home automation market was valued at around USD 5.0 billion in 2014 and is expected to reach USD 21.0 billion in 2020, growing at a CAGR of around 25% between 2015 and 2020.
Home automation is the residential extension of building automation. Home automation is all about automation of the home and household activity. Key aspects involved in home automation includes centralized control of lighting, HVAC (heating, ventilation and air conditioning), appliances, security locks of gates and doors and other systems, to provide improved convenience, comfort, energy efficiency and security. Home automation for the elderly and disabled can provide increased quality of life for persons who might otherwise depend on someone else for their day to day activity.
Home automation is growing in popularity among house owners owing to decreasing cost and simplicity in the functioning of home automation systems. Tablet and smartphone connectivity with home automation systems has made it very convenient for end-users to manage their household activities. This has fueled the growth of global home automation market. Moreover, home automation systems help reducing energy consumption and provided improved safety for home. Home automation systems can effectively prevent the criminal activities such as robbery, theft, etc. Additionally, enhanced internet connectivity in developed economies such as U.S. Japan, UK, Germany, France, etc. is driving demand for home automation systems. However, lack of awareness in end-users among emerging and underdeveloped nation and the high cost of home automation is expected to hamper the growth of home automation industry.
Luxury (custom) home automation systems, mainstream home automation systems, DIY (Do It Yourself) home automation systems, managed home automation services are the key types of the home automation market. A vast variety of devices is used in access and security controls include motion sensors, intrusion detection system, bit screen, video surveillance and keypads, alarms. Smart home system’s products are segmented into access and security control, recreation management, energy management, entertainment, as well as HVAC control. Full Press Release:
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