The report "Home Automation System Market By Product (Mainstream Home Automation System, DIY (Do It Yourself Home Automation System), Luxury home Automation System and Managed Home Automation System) By Application (Lighting, Heating, Ventilation and Air conditioning, Safety and Security, Entertainment (Audio and Video) and Others) By Networking Technology(Computing Network Home Automation System, Wireless Home Automation System, Wired Home Automation System and Others) - Global Forecast to 2023", issued by Crystal Market Research, the market was worth USD 52.56 billion in 2014 and is expected to reach approximately USD 92.64 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 6.5% during the forecast period.
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Entertainment segment is anticipated to dominate the market by 2023
The stimulation portion is foreseen to command the market. The surging requirement for saving energy, push button control, switching demographic inclinations and need to defend the worldwide condition from sullying effluents, for example, toxic wastes and greenhouse gasses is anticipated to bring about a huge market development.
The leading players in the Home Automation Market are ADT Pulse, Johnson Controls, HomeSeer, Crestron Electronics, Siemens Ltd, Honeywell, AMX LLC, Frontpoint, Control4, SmartThings and Vera. These players engage in undertaking strategic efforts such as development of new products, constant enhancements of current product lines to offer avenues for expanded profitability through better customer relationships.
The Wireless Home Automation System is the leading segment
The wireless section is foreseen to command the home automation market. Wireless technology have low set-up cost, is less invasive and more advantageous to utilize which has brought about an expanded rate of adoption of it in the home automation system market.
The North American region is estimated to be the leading regional segment over the forecast period
North America commands the worldwide home automation market because of progression in technology, increasing consumer awareness and high quality connectivity. The region accounted for largest revenue share and is anticipated to develop at a considerable CAGR over the forecast period.
By Region:North America: (U.S., Canada & Mexico),Europe: (Germany, UK, France, Russia, Italy & Rest of Europe),Asia-Pacific: (China, Japan, South Korea, India, Southeast Asia & Rest of Asia-Pacific),South America: (Brazil, Argentina, Columbia, South Africa & Rest of South America) andMiddle East and Africa: (Saudi Arabia, UAE, Egypt, Nigeria, South Africa & Rest of MEA)
We utilize both essential and also auxiliary research for our market overviews, gauges and for creating conjecture. Our examination procedure initiate by breaking down the issue which empower us to plan the extension for our exploration think about. Our exploration procedure is particularly composed with enough adaptability to alter as per changing nature of items and markets, while holding center component to guarantee unwavering quality and exactness in look into discoveries. We comprehend both full scale and small scale monetary components to assess and conjecture diverse market fragments.
Crystal Market Research is a market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.