Analysis from GMI Research finds that the Home Automation System Market earned revenues of USD 36.2 billion in 2021 and estimated to touch USD 78.2 billion in 2029 will grow at a high double-digit CAGR of 10.1%.

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Key Drivers

Rising adoption of Internet of Things (IoT), especially in developed countries coupled with the increasing penetration of smartphone and internet users across the globe is the key factor driving the growth of home automation system market. Rapid digitization has boosted consumer spending on home automation systems will further support the market growth. Moreover, rising trend of home monitoring systems from remote locations along with the growing awareness of energy-efficient home automation systems among consumers is paving way for global home automation system market. Increase in the electricity prices has pushed consumers to opt advanced home automation systems to save energy and to reduce the electricity bills. Various players are focusing on expanding its product portfolio with continuous product development to create more opportunities for home automation systems market size. Favorable government initiatives in developing countries like India and China to promote effective utilization and management of electricity consumption. For instance, China’s five-year plan targets on energy efficiency projects, and the European 2020 initiative focuses on reaching net-zero energy consumption in public and private buildings. The growing regulations implemented by several governments are promoting the adoption of smart automated controls during the forecast period. However, the high initial installation cost of the home automation systems will hamper the growth of the market.

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Product – Segment Analysis

Based on the product, the entertainment and other controls segment is expected to grow at a higher CAGR during the forecast period owing to the increasing demand for smart meters and smoke detectors among the consumers across the globe. The rising popularity of smart plugs, smart hubs, and smart locks will have a positive influence on the demand of the market. Major market players, including Elan Home Systems, Creston Electronics, Inc., and Leviton Manufacturing Co, Inc., are focusing on continuous innovation in the home automation systems to gain a competitive advantage over other players. The expansion in the product portfolio will attract new customers who are looking for advanced entertainment systems such as smart speakers.

Software & Algorithm – Segment Analysis

Based on the software & algorithm, the proactive segment is anticipated to lead the market during the forecast period. The proactive solutions are designed to enable users to understand energy patterns and take necessary measures to reduce their energy consumption. Proactive solutions are equipped with web-based software and displays which give additional information to the users, such as trends of energy usage, alarms, and goal tracking.

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Regional – Segment Analysis

Based on the region, the Asia-pacific region is anticipated to lead the market during the forecast period owing to the increasing number of residential construction projects followed by the growing need to strengthen the building infrastructure across the Asian countries. The rapidly growing population rate in countries such as Japan and South Korea is drastically increasing the demand for home automation systems in the region. Moreover, the growing demand for energy management systems among the customers to save energy and reduce the electricity bill will further drive the demand of the market.

Top Market Players

Various notable players in the Home Automation System market include Honeywell International, Inc., Legrand S.A., Johnson Controls, Inc., Siemens AG, Schneider Electric SE, ABB Group, Ingersoll-Rand Plc, Lutron Electronics, Inc., Crestron Electronics Inc., and Control4 Corporation.

Key Developments:

• • In 2022, Johnson Controls, Inc. acquired FogHorn, developer of Edge AI software for commercial and industrial IoT solutions. Through this acquisition, company planned to expand its footprint in smart and Autonomous Buildings.
  • In 2021, Schneider Electric partnered with Livspace to expand its business in home automation systems market. Schneider Electric planned to offer its wiser home automation solutions to Livspace centres.
  • In 2021, Legrand Collaborated with the URC to expand its smart home automation and control business for residential and commercial users to cater to the growing demand for advanced home automations systems across the globe.
  • In Sep 2019, Control4 Corporation launched Smart Home OS 3, specially designed to capture the growing demand of homeowners and industry. The system will provide a personalized experience with the option to connect all devices to a single platform.
  • In May 2019, Johnson Controls entered into the partnership with Evoteq to establish an end-to-end integrated AI platform for smart buildings and regions by combining their capabilities.
  • In Mar 2019, Legrand UK & Ireland launched MYHOME Up, a home automation system, which provides services such as temperature control, lighting control, shading, audio, and door control. The app connectivity feature enables the contractor to install the home automation systems easily.

Segments covered in the Report:

The Global Home Automation System market is segmented based on the product, software & algorithm, and region. Based on the product, the market is categorized into lighting control, security and access control, HVAC control, and entertainment & other controls. Based on lighting control, the market is further segmented into relays, occupancy sensors, daylight sensors, timers, dimmers, switches, and accessories & other products. Based on the security & access control, the market is further segmented into video surveillance, and access control. Video surveillance market is further segmented into hardware, software/video analytics, and services. The access control market is further segmented into biometric access control and non-biometric access control. The HVAC segment is further segmented into smart thermostats, sensors, control valves, heating and cooling coils, dampers, actuators, pumps & fans, and smart vents. The Entertainment & Other Controls segment is further segmented into entertainment control, and others control. The entertainment control is further categorized into Audio, Volume, & Multimedia Controls, Home Theatre System Controls, and Touchscreens and Keypads. The other controls segment is further categorised into Smart Meters, Smart Plugs, Smart Hubs, Smart Locks, and Smoke Detectors. Based on software & algorithm, the market is segmented into behavioural and proactive.

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Key questions answered in this research report:

• • At what pace is the Global Home Automation System market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the Global Home Automation System market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Home Automation System market?
  • Which product generated maximum revenues in 2021 and identify the most promising products during the forecast period?
  • What are the various products of the Global Home Automation System market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Home Automation System Market by Product

• • Lighting Control
    • Relays
    • Occupancy Sensors
    • Daylight Sensors
    • Timers
    • Dimmers
    • Switches
    • Accessories and Other Products
  • Security and Access Control
    • Video Surveillance
      • Hardware
        • Security Cameras
        • Storage Devices
        • Monitors
        • Accessories
      • Software/Video Analytics
      • Services
    • Access Control
      • Biometric Access Control
        • Facial Recognition
        • Iris Recognition
        • Fingerprint Recognition
        • Others
      • Non-Biometric Access Control
  • HVAC Control
    • Smart Thermostats
    • Sensors
    • Control Valves
    • Heating and Cooling Coils
    • Dampers
    • Actuators
    • Pumps & Fans
    • Smart Vents
  • Entertainment and Other Controls
    • Entertainment Control
      • Audio, Volume, & Multimedia Controls
      • Home Theatre System Controls
      • Touchscreens and Keypads
    • Other Controls
      • Smart Meters
      • Smart Plugs
      • Smart Hubs
      • Smart Locks
      • Smoke Detectors

Global Home Automation System market by Software & Algorithm

• • Behavioural
  • Proactive

Global Home Automation System market by Region

• • North America Home Automation System Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Software & Algorithm
    • US All-Up market
    • Canada All-Up market
  • Europe Home Automation System Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Software & Algorithm
    • United Kingdom (UK) All-Up market
    • Germany All-Up market
    • Spain All-Up market
    • France All-Up market
    • Rest of Europe All-Up market
• Asia-Pacific Home Automation System Market (Option 3: As a part of the free 25% customization)
  • • By Product
    • By Software & Algorithm
    • China All-Up market
    • India All-Up market
    • Japan All-Up market
    • Rest of APAC All-Up market
• ROW Home Automation System Market (Option 4: As a part of the free 25% customization)
  • • By Product
    • By Software & Algorithm
    • Brazil All-Up market
    • South Africa All-Up market
    • Saudi Arabia All-Up market
    • UAE All-Up market
• Rest of world (remaining countries of the LAMEA region) All-Up Home Automation System market

Global Home Automation System Market Leading Players (Option 5: Free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Honeywell International, Inc.
  • Legrand S.A.
  • Johnson Controls, Inc.
  • Siemens AG
  • Schneider Electric SE
  • ABB Group
  • Ingersoll-Rand Plc
  • Lutron Electronics, Inc.
  • Crestron Electronics Inc.
  • Control4 Corporation