The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Rapid Growth on the Horizon

• The home automation market is expanding exponentially.
• Expected to reach $72.82 billion in 2024, with a compound annual growth rate (CAGR) of 10.3%.
• Factors fueling growth include convenience, energy efficiency, and health and wellness concerns.

Anticipating Future Trends

• Forecasted to grow to $109.34 billion by 2028, with a CAGR of 10.7%.
• Emphasis on sustainable living, health monitoring, and customization driving this growth.
• Major trends include the rise of smart hubs, expansion of IoT devices, and DIY installations.

Proliferation of IoT Devices Driving Growth

• IoT devices play a pivotal role in driving home automation market growth.
• IoT-based systems offer flexibility, ease of installation, and mobility.
• By 2030, it is anticipated that there will be 25.4 billion IoT devices.
• Key players in the market include ABB, Crestron Electronics, Schneider Electric, and Honeywell.

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Tech Innovations Reshaping the Market

• Technological advancements are reshaping the home automation sector.
• Companies like Hogar Controls are developing smart home solutions.
• Hogar’s smart touch panels, controllers, and digital door locks offer seamless integration with voice assistants.
• ABB Ltd’s acquisition of Eve Systems GmbH strengthens its position in smart home solutions.

Segmentation of the Market

• The home automation market is segmented by product, technology, and end user.
• Products include lighting control, security, HVAC control, entertainment, among others.
• Technologies range from wired to wireless home automation systems.
• End users encompass residential, commercial, and other sectors.

North America Leading the Charge

• North America dominated the home automation market in 2023.
• The region is at the forefront of adopting smart home technologies.
• Factors such as increased consumer awareness and technological innovation drive growth.

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The Home Automation Global Market Report 2024  provides comprehensive insights on the home automation market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the home automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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