Increasing Demand from Densely Populated Countries and Frequent Technological Advancements Promise Expansive Growth for Global Home Automation Market between 2019 and 2027: TMR

- Technological advancements and the introduction of upgraded devices may bring extensive growth prospects for the global home automation market during the assessment period of 2019-2027

- On the basis of various  growth factors, the global home automation market is expected to attain a valuation of US$ 124.1 bn by 2027 from US$ 69.0 bn in 2018

ALBANY, N.Y., Oct. 26, 2020 /PRNewswire/ -- The increasing awareness about energy efficiency features coupled with the increasing influence of the Internet of Things (IoT) across a variety of sectors including home automation may invite significant growth prospects for the global home automation market during the forecast period of 2019-2027.

The researchers at Transparency Market Research (TMR), after a detailed and thorough analysis of all the aspects related to growth, expect the global home automation market to expand at a CAGR of 6.7 percent during the assessment period of 2019-2027. The global home automation market was valued at US$ 69.0 bn in 2018 and is expected to attain a valuation of US$ 124.1 bn by 2027.

The rising need for security and safety across a large chunk of individuals is bringing exponential growth prospects for the home automation market. The overwhelming demand from families of all age groups and the escalating upgrades associated with the home automation market my bring tremendous growth prospects during the assessment period.

Download PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=785

Home Automation Market: Key Revelations

• India in Asia Pacific region is expected to expand at a CAGR of 7 percent during the assessment period of 2019-2027
• The safety and security segment is anticipated to observe good growth rate across the forecast period of 2019-2027
• Video surveillance applications garnered more than 70 percent of the market share in 2018
• Access control applications are prognosticated to gain substantial traction during the assessment period
• Video surveillance systems are extrapolated to acquire a good growth rate for the home automation market during the forecast period
• HVAC and lighting systems are also expected to gain efficient growth for the home automation market between 2019 and 2027
• North America may bloom rapidly as the largest regional growth contributor for the home automation market from 2019 to 2027
• The U.S. and Western Europe may bring promising growth and serve as vital areas in terms of the growth of home automation market in North America and Europe respectively

Explore 341 pages of superlative research, current market scenario, and extensive geographical Projections. Gain insights into the Home Automation Market (By Application - Safety and Security - Video Surveillance (Hardware (Security Cameras, Monitors), Software, Services), Access Control (Biometric Access Control (Facial Recognition, Iris Recognition, Fingerprint Recognition), Non Biometric Access Control), Lighting System (Drivers & Ballasts, Relay, Sensors, Dimmers, Switches, Others (Accessories)), Entertainment System (Home Theater System, Audio Video Control Systems), Heating Ventilation and Air Conditioning (HVAC) (Actuators, Sensors and Transducers, Control Valve, Thermostats, Energy Meter), Other Controls (Smart Locks, Smoke Detector, Smart Plugs); Technology - Wired (Power Line Communication (PLC), Ethernet, Fiber Optics), Wireless (ZigBee, Wi-Fi, Bluetooth); Channel - Luxury, Mainstream, DIY, Managed)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027 at https://www.transparencymarketresearch.com/home-automation-market.html

Home Automation Market: Growth Boosters  

Even if home automation systems are popular among all age groups, the millennial and the generation Z category may bring prodigious growth for the home automation market.

• Players in the home automation market are in constant pursuit to make these systems more user-friendly to cater to a large consumer base, thus increasing the growth rate of the home automation market
• Inclusion of novel technologies such as integration of voice-assistance may invite great growth prospects for the home automation market between 2019 and 2027
• Affordable subscription models may further bring tremendous growth opportunities for the home automation market across the tenure of 2019-2027

Analyze global home automation market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Home Automation Market: Geographical Dimensions

The home automation market in North America may gain promising growth during the assessment period of 2019-2027. The presence of a large number of manufacturing companies across the region may bring expansive growth opportunities for the home automation market. Asia Pacific may serve as a vital growth-generating region for the home automation market due to the heightening adoption of these systems among a considerable populace during the tenure of 2019-2027.

Request the Covid19 Impact Analysis across Industry –

https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=785

Global Home Automation Market: Segmentation

By Application

• Safety and Security
• Access Control
• Lighting System
• Entertainment System
• Heating Ventilation and Air Conditioning (HVAC)
• Other Controls

By Technology

• Wired
• Wireless

By Channel

• Luxury
• Mainstream
• DIY
• Managed

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the Global Electronics & Semiconductors Industry:

Hall-effect Current Sensors Market – Sensing the growing demand for hall-effect current sensors from various industrial sectors, current players involved in the global hall-effect current sensors market landscape are increasingly focusing on expanding their market share and presence by launching new products and product portfolio. For instance, in July 2020, Texas Instruments announced the launch of zero-drift hall-effect current sensor that offers high accuracy and lowest drift while simultaneously providing efficient 3-kVrms isolation.

Power Inductor Market – Amidst the ongoing COVID-19 crisis, established market players such as Samsung Electro-Mechanics have developed one-of-its-kind claimed smallest power inductors. Manufacturers in the power inductor market are taking strategic cues from established market players to capitalize on business opportunities. As such, there is a growing demand for compact power inductors. Since electronic devices are diversifying in terms of functionalities, manufacturers in the power inductor market are improving the performance of components.

Hall-effect Sensors Market – Ever since the discovery of 'Hall-effect' nearly a hundred years ago, the principle has been increasingly being used for a plethora of industrial and commercial applications. Over the past two to three decades, a number of practical applications of hall-effect sensors has emerged in a range of industries, including automotive, telecommunication, and consumer electronics. At present, the adoption of hall-effect sensors continues to grow in a broad spectrum of consumer and industrial products such as machining tools, computers, medical equipment, sewing machines, etc. Technological advancements coupled with the advent of the industrial automation trend are some of the key factors expected to shape the growth of the global hall-effect sensors market during the forecast period.

Access TMR Upcoming Reports - https://www.transparencymarketresearch.com/upcoming.htm 

Access Recently Published Reports by TMR - https://www.transparencymarketresearch.com/latest.htm

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

Mr Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/home-automation-market.htm
Blog: https://tmrblog.com/

LOGO: https://mma.prnewswire.com/media/1085206/Transparency_Market_Research_Logo.jpg