Building a Better Future with Home Automation Market Surge Growth at a CAGR of 17.6% by 2030

Growth of the home automation market is majorly driven by rise in awareness to use energy efficient products.

PORTLAND, OR, UNITES STATES, February 22, 2023 /EINPresswire.com/ -- The home automation market size was valued at $46.6 billion in 2020, and is expected to reach $239.9 billion by 2030, registering a CAGR of 17.6% from 2021 to 2030. Home automation systems have witnessed an unprecedented demand in the recent years, due to increased concerns about safety & security, especially in urban areas. Moreover, factors such as improved lifestyle, increase in disposable income of people, and surge in awareness about smart automated systems have boosted the adoption of home automation systems. However, the home automation market is in its developing stage for cities and rural regions, and, is expected to witness significant growth in the future. Metropolitan cities are anticipated to provide lucrative opportunities for the market players, owing to improvement in access to wireless technologies in these cities.

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The security & safety segment dominated the market due to considerable adoption of smart technologies such smart bulb, smart camera, and smart refrigerator as compared to the other sectors. Increase in government initiatives for the development of smart cities has fueled the adoption of home automation systems.

This report discusses various aspects of the market such as the technologies and types used in home automation control. In recent times, various wired and wireless technologies are being used for monitoring and controlling the operations of smart homes and installed systems. Wi-Fi with its long-range operation capabilities contributes to the largest share.
Major Key Players of the Home Automation Market are:

ABB, ADT, Creston Electronics, Inc., Honeywell International Inc., Ingresoll Rand, Johnson Controls, Larsen & Toubro Ltd., Legrand, Samsung Electronics Co., Ltd. and Schneider Electric.

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The home automation market is segmented on the basis of, application, technology end user and region. By application, the market is segregated into lighting, safety & security, HVAC, entertainment and others.

Segmention:
On the basis of technology, the market is divided into wired and wireless. On the basis of end user, the market is divided into residential and commercial. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Global Home Automation Market Segments:

• By Application
o Lighting
o safety & security
o HVAC
o Entertainment
o Others
• By Technology
o Wired
o Wireless

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David Correa
Allied Analytics LLP
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