DUBLIN, Mar. 30, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/g72dw7/home_automation) has announced the addition of the "Home Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.
Global home automation market was valued at USD 4.41 billion in 2014, growing at a CAGR of 26.3% from 2014 to 2020.
This market research study analyzes the home automation market on a global level, and provides estimates in terms of revenue (USD million) from 2014 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
With technological advancements in several developing countries across the globe, home automation solutions are evolving continuously. Modern day home automation solutions utilize high end digital technology for providing better performance and efficiency. Home automation systems refer to all such systems, whether used as a single application or as integrated solutions that are used to automate processes. They are electricity powered and are manually controlled (such as turning on the AC, dimming lights, managing entrance gate and cameras, operating smart appliances in a house, and so on.
The home automation market is primarily driven by growing need for effective solutions in various domestic applications such as lighting, safety and security, energy management, entertainment (audio and video) and HVAC (heating, ventilation, and air conditioning). High degree of internet connectivity and penetration in developed countries such as the U.S., the U.K., France, and Germany is also contributing to the growth of home automation market globally. Safety and security was the highest revenue generating application segment in 2013.
Factors such as rising awareness towards energy conservation and ability to manage energy consumption through automation technologies primarily influence market growth. Smartphone based home automation solution is also observing a significant growth in demand. Increasing usage of smartphone based home automation apps is also contributing to the growth of overall home automation market globally.
North America led the home automation market in 2014 and the region is expected to continue its dominance in 2020. The region's dominance is due to advancement in technology in countries such as the U.S. and Canada. Moreover, consumer awareness and affinity towards new technology is further contributing to the growth of home automation market in North America. Europe and Asia Pacific followed North America in the global home automation market to collectively account for more than forty percent of the global market revenue share.
Scope of the Report
Home Automation Market: By application
- Safety and security
- HVAC (Heating, Ventilation, and Air-Conditioning)
- Entertainment (Home audio and video)
- Others(Robotics, heath care)
Home Automation Market: By networking technology
- Wired home automation systems
- Power-line home automation systems
- Computing network home automation systems
- Wireless home automation systems
Home Automation Market: By type
- Luxury (custom) home automation systems
- Mainstream home automation systems
- DIY (Do It Yourself) home automation systems
- Managed home automation services
- 2GIG Technologies
- ADT Corporation
- AMX LLC
- Control4 Corporation
- Crestron Electronics, Inc.
- Honeywell International Inc.
- iControl Networks Inc.
- Johnson Controls
- Schneider Electric SA
- Siemens AG
- Vantage Controls
For more information visit http://www.researchandmarkets.com/research/g72dw7/home_automation
Media Contact: Laura Wood , +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets