Home Automation Global Market Report 2022

New York, March 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Home Automation Global Market Report 2022” – https://www.reportlinker.com/p06246512/?utm_source=GNW
Lutron Electronics Company, Sauter AG, United Technologies Corporation, Bosch Security and Safety Systems, Silvan Innovation Labs, Elan Home Systems LLC, Fueb and Harman International.

The global home automation market is expected to grow from $54.41 billion in 2021 to $61.62 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $95.07 billion in 2026 at a CAGR of 11.4%.

The home automation market consists of sales of home automation devices by entities (organizations, sole traders, and partnerships) that use hardware and software technologies that allow users to control and manage their home’s appliances and devices.A home automation system is a technological solution that allows the majority of electrical, electronic, and technology-based activities in a home to be automated.

Home automation is also referred to as domotics, and a home equipped with an automation system is referred to as a smart home.

The main types of products in home automation are lighting control, security and access control, HVAC control, entertainment and others.Lighting controls are a type of smart lighting gadget that allows users to adjust the amount, quality, and features of light in a specific area.

These smart devices help to cut down on electricity waste while also promoting energy efficiency. The different technologies include wired home automation system and wireless home automation system and is implemented in various areas such as residential, commercial and others.

North America was the largest region in the home automation market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The increasing use of internet of things (IoT) devices in a home automation system are expected to propel the growth of the home automation market in the forecast period.The Internet of Things (also known as IoT) based home automation system uses internet protocols or cloud computing to operate all of the smart home’s equipment.

The IoT-based home automation system has numerous advantages over wired systems, including flexibility, ease-of-installation, avoidance of the complexity of flowing through wires or weak electrical wiring, easy problem detection and triggering, and, most all, mobility. For instance, according to the Ericsson statistics on IoT in modern homes, consumer devices accounted for 63% of all installed IoT equipment in 2020 and the number of mobile IoT connections is predicted to reach 3.5 billion by 2023. Therefore, the increasing use of internet of things (IoT) devices in home automation systems drive the growth of the home automation market.

The growing technological advancements are shaping the home automation market. Major companies operating in the home automation sector are focused on developing technological solutions for home automation to strengthen their position.

For instance, in December 2019, Crestron Electronics, a US-based manufacturer and distributor integration of audiovisual automation and equipment launched Horizon EX Dimmers and Keypads based on wireless mesh technology. The new series of wall-box controllers, which includes matching dimmers and keypads, provides an innovative custom control solution as part of a complete Crestron smart home.

In June 2020, Jersey Telecom (JT) Ltd., a UK-based telecommunications company acquired Zero1 for an undisclosed amount. Through this acquisition, Jersey Telecom (JT) expanded its intelligent engineering and home automation services offering. Zero1 is a designer and supplier of environment and entertainment automation systems for homes and businesses in the Channel Islands.

The countries covered in the home automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06246512/?utm_source=GNW

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