Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "Global Home Automation System Market by Product (Entertainment Control, HVAC Control, Lighting Control), Technology (Wired, Wireless), Software & Algorithm, Management, End-User - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Home Automation System Market size was estimated at USD 49.29 billion in 2022 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 10.57% to reach USD 110.16 billion by 2030. The esearch report takes into account the cumulative impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation, projecting significant long-term effects on the Global Home Automation System Market.
The research report delves into the changing consumer behavior, supply chain disruptions, and government interventions caused by the pandemic, providing crucial insights into the market landscape.
Similarly, the report analyzes the ongoing political and economic uncertainty in Eastern Europe due to the Russia-Ukraine Conflict, highlighting its potential implications for demand-supply balances, pricing variants, and import/export and trading. Additionally, the report thoroughly addresses the impact of High Inflation on the global economy and details fiscal policies aimed at measuring and reducing its effects on demand, supply, cash flow, and currency exchange.
Market Segmentation & Coverage
The research report categorizes the Global Home Automation System Market into various sub-markets to forecast revenues and analyze trends, including:
- Based on Product, the market is studied across Entertainment Control, HVAC Control, Lighting Control, and Security & Access Control. The Lighting Control is further divided into Sun Shading Control, while the Security & Access Control includes Entrance Control Gates & Doors. The HVAC Control commanded the largest market share of 22.12% in 2022, followed by Security & Access Control.
- Based on Technology, the market is studied across Wired and Wireless. The Wireless segment dominated with the largest market share of 87.12% in 2022, followed by Wired.
- Based on Software & Algorithm, the market is studied across Behavioral and Proactive. The Behavioral segment held the largest market share of 80.88% in 2022, followed by Proactive.
- Based on Management, the market is studied across Cloud-Based and On-Premises. The On-Premises management commanded the largest market share of 61.23% in 2022, followed by Cloud-Based.
- Based on End-User, the market is studied across Condominium, Cooperatives, Multi-Family Home, Single-Family Home, and Townhouse. The Multi-Family Home segment dominated with the largest market share of 38.12% in 2022, followed by Cooperatives.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. Europe, Middle East & Africa commanded the largest market share of 41.23% in 2022, followed by the Americas.
Key Insights and Competitive Analysis
The comprehensive research report provides insights into the following key areas:
- Market Penetration: Detailed information on the market offered by key players
- Market Development: Analysis of lucrative emerging markets and penetration across mature segments
- Market Diversification: Information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Understanding the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation on the market dynamics
- Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of leading players
- Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments
Market Dynamics and Growth Factors
The report delves into the drivers, restraints, opportunities, and challenges shaping the Global Home Automation System Market:
Drivers
- Increasing Need for Energy-Efficient Residential Buildings
- Rising Need for Home Security and HVAC Control
- Accelerated Usage of Internet of Things (IoT) and Connected Devices in Home Automation Systems
Restraints
- Compatibility and Maintenance Issues with Home Automation System
Opportunities
- Increasing Development of Smart and Green Homes
- Integration of Advanced Technologies in Home Automation System
Challenges
- Security and Privacy Concerns with Home Automation System
Conclusion
The Global Home Automation System Market is poised for substantial growth, driven by increasing adoption of energy-efficient residential buildings, rising demand for home security and HVAC control, and the rapid integration of IoT and connected devices in home automation systems. The research report also highlights the market's challenges, including compatibility and maintenance issues, and sheds light on opportunities arising from the development of smart and green homes and the application of advanced technologies in home automation systems.
Companies Mentioned
- ABB Ltd.
- Acuity Brands, Inc.
- Amazon.com, Inc.
- Apple Inc.
- Audiovisions
- August Home, Inc.
- Avisio
- BuildTrack by Surmount Energy Solutions Pvt. Ltd.
- BWE Enterprises, Inc.
- Canary Connect, Inc.
- Crestron Electronics, Inc.
- DSI Luxury Technology
- EZLO Innovation LLC
- General Electrical Company
- Google LLC by Alphabet, Inc.
- HomeSeer Technologies LLC
- Honeywell International Inc.
- Ingersoll Rand Inc.
- Johnson Controls International PLC
- Kluger Automation GmbH
- Koninklijke Philips N.V.
- KRU Enterprises Ltd.
- Legrand SA
- Leviton Manufacturing Co., Inc.
- LG Electronics
- Lutron Electronics Co., Inc.
- Microsoft Corporation
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Resideo Technologies, Inc.
- Samsung Electronics Co., Ltd.
- SAP SE
- Savant Systems, Inc.
- Schneider Electric SE
- Sentinel Electronics
- Siemens AG
- Smart Node
- Smartzone
- Snap One, LLC
- Synxgen Technologies Pvt. Ltd.
- West Coast Solar, Inc.
- Wink Labs Inc.
For more information about this report visit https://www.researchandmarkets.com/r/tmug91
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