Home Automation System Market at a CAGR of 11.3% During 2017 to 2022 - ReportsnReports
13 Apr, 2017, 17:00 BST
PUNE, India, April 13, 2017 /PRNewswire/ --
The home automation system market expected to be $79.57 billion by 2022, growing at a CAGR of 11.3%. Major factors for the growth of home automation system market are growth in IoT, cost reduction measures, large number of manufacturers widening their product portfolios, and increasing importance of remote home monitoring.
Browse 153 tables and 66 figures, 11 Company profiles spread across 209 pages available at
The home automation system market is expected to be valued at USD 79.57 billion by 2022, growing at a CAGR of 11.3% between 2017 and 2022. The key driving factors for the growth of the home automation system market are the growth in IoT, cost reduction measures, large number of manufacturers widening their product portfolios, and increasing importance of remote home monitoring. However, since many products are reaching maturity level and home automation system market is more of a convenience-driven market than necessity-driven, the growth of this industry might be limited to some extent.
The market for lighting control is expected to grow at a high rate because it reduces the electricity consumption in homes as sensors adjust the intensity of artificial light according to the intensity of natural light. Lighting control provides flexibility with respect to the lighting operation, which improves the ambiance, interior decoration, and productivity.
The proactive segment is expected to hold the largest size of the home automation system market during the forecast period. Proactive solutions are specifically designed to enable consumers to understand energy patterns and take effective measures to reduce their consumption. Proactive solutions are more beneficial as they can also send recommendation signals to end users for taking necessary energy reduction actions and can then control the electronic devices based on the users' actions.
The market in APAC is expected to grow at the highest CAGR during the forecast period owing to the presence of a significant number of new residential projects and strengthening of the building infrastructure. The presence of a huge end-user base in advanced economies such as Japan and South Korea and the growing demand for energy management systems are further expected to drive the home automation system market in this region.
Order a copy of Home Automation System Market by Protocol and Technology (Network and Wireless), Product (Lighting, Security and Access Control, HVAC and Entertainment Control), Software and Algorithm (Behavioral and Proactive), and Geography - Global Forecast to 2022 research report at
http://www.reportsnreports.com/purchase.aspx?name=270356.
The key players in the home automation system market include Honeywell International, Inc.,Legr and, Ingersoll-Rand PLC, Schneider Electric SE, and ABB Ltd., Control4 Corporation, Crestron Electronics, Inc., Johnson Controls, Inc., and Siemens AG.
Related Reports:
Explore more reports on Semiconductor and Electronics market at
http://www.reportsnreports.com/market-research/semiconductor-and-electronics/
About Us:
ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.
Contact:
Ritesh Tiwari
2nd Floor, Metropole Building,
Next to Inox Theatre,
Bund Garden Road, Pune - 411001.
Maharashtra, India.
+ 1 888 391 5441
sales@reportsandreports.com
Connect with Us:
LinkedIn: http://www.linkedin.com/company/reportsnreports
RSS/Feeds: http://www.reportsnreports.com/feed/l-latestreports.xml
SOURCE ReportsnReports