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

Market Size and Historic Growth

• Significant Expansion: The home automation and controls market has seen rapid growth, rising from $69.68 billion in 2023 to $78.60 billion in 2024 at a CAGR of 12.8%.
• Growth Drivers:
  • Rise of IoT technology.
  • Increased awareness of energy conservation.
  • Consumer demand for convenience.
  • Emergence of smart home ecosystems.
  • Growing concerns about home security.

Future Market Projections

• Continued Growth: The market is expected to grow to $128.17 billion by 2028, at a CAGR of 13.0%.
• Key Growth Factors:
  • Popularity of voice-activated smart assistants.
  • Aging population seeking independent living.
  • Proliferation of high-speed internet.
  • Urbanization and smart city initiatives.
  • Increasing consumer awareness.

Major Trends Influencing Growth

• Technological Integration:
  • Enhanced integration with AI and machine learning.
  • Development of advanced security features.
• Industry Developments:
  • Smart home solutions tailored for older adults.
  • Integration of solar panels.
  • Rollout of 5G technology.

Read The Full Home Automation And Controls Market Report Here:
https://www.thebusinessresearchcompany.com/report/home-automation-and-controls-global-market-report

Rising Residential Building Numbers to Boost Market Growth

• Residential Building Growth:
  • Increase in residential buildings is expected to drive market growth.
  • Residential buildings house individual living units and cater to rising urban demand, population growth, economic growth, and higher incomes.
• Impact on Home Automation:
  • Home automation systems offer intelligent control over security, comfort, and well-being in homes.
  • They facilitate remote monitoring of vacation homes, rental properties, and second residences.
• Example: In June 2023, Ireland’s Central Statistics Office reported a 7.1% volume growth in the residential building sector in Q1 2023 compared to Q4 2022.

Key Players in the Market

• Leading Companies:
  • Siemens AG
  • Honeywell International Inc.
  • Johnson Controls International PLC
  • Koninklijke Philips N.V.
  • Legrand Group
  • ADT Inc.
  • Logitech Harmony
  • Ecovacs Robotics Co. Ltd.
  • Crestron Electronics Inc.
  • AMX LLC
  • Control4 Corporation
  • ecobee Inc.
  • Netatmo SAS
  • Wink Labs Inc.
  • 2GIG Technologies Inc.
  • August Home
  • Aeotec Group GmbH

Home Automation Leaders Enhance Competitive Position with Advanced Products

• Product Innovation:
  • Companies are developing innovative home-automated products to gain a competitive edge.
  • These products enhance convenience, efficiency, and security in households through automated control and remote monitoring.
• Example: In June 2022, Hogar Controls launched the Elite Series in India, featuring smart touch panels, world-class controllers, digital door locks, and smart curtain motors, offering enhanced convenience and security.

ABB Strengthens Presence in Home Automation Market with Eve Systems Acquisition

• Strategic Acquisition:
  • In June 2023, ABB Ltd. acquired Eve Systems GmbH to capitalize on the rising demand for smart home technology and energy efficiency.
  • The acquisition aims to enhance ABB’s presence in the smart home market, focusing on retrofitting existing buildings for better comfort, convenience, and energy efficiency.
• Eve Systems: A Germany-based company specializing in home automation products and connected accessories.

Market Segmentation

• By Type:
  • Home Automation System
  • Mainstream Home Automation System
  • Managed Home Automation System
• By Technology:
  • Wired Home Automation Systems
  • Wireless Home Automation Systems
  • Powerline Home Automation Systems
  • Computing Network Home Automation Systems
• By Application:
  • Lighting
  • Heating, Ventilation, and Air Conditioning (HVAC)
  • Entertainment
  • Safety and Security
  • Other Applications

Regional Insights

• Largest Market: North America led the market in 2023.
• Fastest-Growing Region: Asia-Pacific is expected to be the fastest-growing region during the forecast period.

Get A Free Sample On The Global Home Automation And Controls Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=15198&type=smp

The Home Automation And Controls Global Market Report 2024  provides an overview of the home automation and controls market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The home automation and controls market forecast analyzes home automation and controls market size, home automation and controls market share, leading competitor and their market positions.

The Table Of Content For The Home Automation And Controls Market Include:
1. Home Automation And Controls Market Executive Summary
2. Home Automation And Controls Market Segments
3. Home Automation And Controls Market Size And Home Automation And Controls Market Growth Rate
4. Key Home Automation And Controls Market Trends
5. Major Home Automation And Controls Market Drivers
……
25. Key Mergers And Acquisitions In The Home Automation And Controls Market
26. Top Home Automation And Controls Companies
27. Home Automation And Controls Market Opportunities And Strategies
28. Home Automation And Controls Market, Conclusions And Recommendations
29. Appendix

Explore Similar Reports From The Business Research Company:
Network Automation Global Market Report 2024
Industrial Automation Global Market Report 2024
Industrial Controls Global Market Report 2024

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: