Driven by Comfort and Need for Energy Efficient Technologies
Due to advancement in technologies, homeowners now have access to fully automated solutions which offer greater comfort level, high security and increased power savings. According to the report, the future of the global home automation system market looks promising with the market expected to grow at a CAGR of 8.3% during 2016-2021.
A new report released by IMARC entitled “Global Home Automation System Market Report and Forecast (2016-2021)” comprehensively discusses the global market for home automation systems. Throughout history, humans have been continuously struggling to make their lives easier and comfortable. Technological advancements have finally provided homeowners with a fully automated solution which enables them to control, monitor and automate various appliances and systems around the house with the touch of a button. Home automation systems offer numerous benefits such as energy efficiency, high security, increase in the comfort level of the end-user and a centralized management facility.
Today, these systems have gained much prominence all around the world. The report covers several factors that are helping to expand the global home automation system market. Some of the factors include increasing urbanization, industrialization, increasing focus on green building projects, growing disposable incomes, aspirational lifestyles, improving living standards and internet penetration. Governments across the globe have also imposed several stringent regulations to counter environmental issues, thereby, encouraging house owners, building owners and facility managers to install automation and control systems. Owing to all these factors, the future of this market looks promising with market players looking forward to introduce many innovative products during the forecast period. The report expects the market to grow at a CAGR of 8.3% during 2016-2021.
The report has segmented the global home automation system market on the basis of end-use, type and major regions. Based on the end-use, Security & Access Control Systems currently represent the dominating segment accounting for nearly 47% of the total global market. Security & Access Control Systems are followed by Entertainment & Other Control Systems, HVAC Control Systems and Lighting Control Systems. On the basis of type, Managed Home Automation System represents the dominating segment accounting for around 64% of the overall market. Managed Home Automation System is followed by Mainstream, Do-It-Yourself and Luxury. Region-wise, North America currently represents the leading market for home automation systems. North America is followed by Europe and the Asia-Pacific region. The report also provides a detailed insight into the key players operating in the global home automation systems market. Some of the key players analysed in this report include Siemens, Honeywell International, Johnson Controls Inc., Schneider Electric, Legrand, Ingersoll Rand, Samsung Electronics Co., Ltd. and ABB.
This report is an outcome of an intensive research of the global home automation system industry that offers a comprehensive analysis of home automation system products, consumer groups and market trends globally. The study, which is based both on desk research and multiple waves of qualitative primary research, is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the global home automation system industry in any manner.