Dublin, Nov. 29, 2024 (GLOBE NEWSWIRE) -- The "Home Automation System Market by Lighting Controls, Smart Speakers, Entertainment Controls, HVAC Controls, Security & Access Controls, Wired, Wireless, Behavioral, Proactive, Multi-Family Residence, Single - Family Residence Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The home automation system market was valued at USD 57.67 billion in 2024 and is projected to reach USD 73.49 billion by 2029; it is expected to register a CAGR of 5% during the forecast period. Concerns about safety, security, and convenience among general population is driving the growth of the security & access control products. Whereas vulnerability to cyber-attacks is restraining the growth of the home automation system market. 
The security & access control segment is expected to grow at the second highest CAGR during the forecast period.
The security & access control segment is projected to grow at the second highest CAGR during the forecast period. Key benefits of home automation in security is the ability to remotely monitor and control various aspects of the home. Home automation remote control allows homeowners to effectively protect their property from threats, and prevent burglars when they are not around. Also, home automation systems in addition to dealing with access control devices including smart locks and video doorbells to make the home safer and more comfortable.
The proactive system type is likely to grow at the second higher CAGR during the forecast period
The proactive system type is expected to grow at second higher CAGR during the forecast period. Proactive home automation devices are poised for increased demand in the near future as consumers become more aware of the convenience, energy efficiency, and security these systems offer. These devices are not limited to raw actions by users but rather automatically learn users' behavior, making changes when it considers that changes are necessary without users' instructions or requests. As the integration of AI and machine learning increases with home automation devices, preventive home automation solutions will adapt and enhance the utilization of heat, cool and light controls to the preference of the user while saving costs.
North America is likely to grow at the second highest CAGR during the forecast period.
The market in North America is expected to witness the second highest CAGR during the forecast period. Promoting energy efficiency and sustainability is on the rise as the costs of energy increase and as awareness of the impacts of energy on the environment grows. Smart thermostats, automated lighting systems, and such energy-tracking devices enable the user to control energy expenses and decrease carbon dioxide discharge. Governments and utility companies in North America are also offering incentives and rebates for the energy efficient home automation products thus boosting they uptake. Green homes and smart cities are becoming the new norms and are gradually integrating home automation into the mainstream architectural and construction agenda of the region.
The home automation system market is dominated by a few globally established players such as Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Schneider Electric (France), Siemens (Germany), ASSA ABLOY (Sweden), Apple Inc. (US), Robert Bosch (Germany), ABB (Switzerland), Legrand (France), ADT (US), Resideo Technologies Inc. (US). The study includes an in-depth competitive analysis of these key players in the home automation system market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The report segments the Home automation system market and forecasts its size by product, system type, protocol, residence type, installation type, region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the home automation ecosystem.
Key Benefits to Buy the Report:
- Analysis of key Drivers (Rising need for convenience and comfort, Increasing demand for energy efficient devices, Favorable government regulations, Incorporating AI in Home automation), Restraints (High switching cost for existing smart device consumers, Complexity and glitches in setting up of smart homes), Opportunities (Increase in construction value (ROI), Adaptive to remote working, Elderly assistance and independence), Challenges (Cybersecurity concerns)
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the home automation system market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the Home automation system market across varied countries.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the home automation system market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and system types of leading players like Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Schneider Electric (France), Siemens (Germany), ASSA ABLOY (Sweden), Apple Inc. (US), Robert Bosch (Germany), ABB (Switzerland), Legrand (France), ADT (US), Resideo Technologies Inc. (US) among others in the home automation system market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 284 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $57.67 Billion |
| Forecasted Market Value (USD) by 2029 | $73.49 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Key Topics Covered:
Premium Insights
- Attractive Growth Opportunities for Key Players in Home Automation Systems Market
- HVAC Controls: Home Automation Systems Market, by Type
- Residence Type: Home Automation Systems Market
- Installation Type: Home Automation Systems Market
- Lighting Controls: Home Automation Systems Market, by Type
- Home Automation Systems Market, by Region
- Home Automation Systems Market, by Country
Market Dynamics
Drivers
- Rising Demand for Convenience and Comfort
- Increasing Demand for Energy-Efficient Devices
- Incorporation of AI in Home Automation
Restraints
- High Up-Front Costs
- Complexities and Glitches in Setting Up
Opportunities
- Favorable Government Regulations
- Adaptability to Remote Working
- Elderly Assistance and Independence
Challenges
- Cybersecurity Concerns
Case Study Analysis
- Assa Abloy's Remote Access Delegation to Buildings Transforms Emergency Services in Sweden
- Johnson Controls' Cooling Solution Helps Fiserv Tackle Maintenance Constraints
- Honeywell's Security Solution Helps Gateway Building Improve Security and Visitor Access System
Home Automation Systems Market, by Protocol
Wired
- Dali
- Nema
- KNX
- DMX
- Lonworks
- Ethernet
- Modbus
- Bacnet
- Black Box
- PLC
Wireless
- Zigbee
- Z-Wave
- Wi-Fi
- Bluetooth
- Enocean
- Thread
- Infrared
- Message Queuing Telemetry Transport
Home Automation Systems Market, by Product
- Lighting Controls
- Relays
- Occupancy Sensors
- Daylight Sensors
- Timers
- Dimmers
- Switches
- Accessories & Other Products
- Security & Access Controls
- HVAC Controls
- Entertainment & Other Controls
- Smart Speakers
Home Automation Systems Market, by Residence Type
- Single-Family - Need for Energy-Efficient Systems to Drive Market Growth
- Multi-Family - Growing Investment in Multi-Family Housing to Boost Growth
Home Automation Systems Market, by System Type
- Behavioral - Growing Demand for Personalization and Convenience to Boost Market
- Proactive - Rising Demand for Daily Automated Assistance to Drive Segment
Home Automation Systems Market, by Installation Type
- New Installation - Demand for Modern Lighting Systems with State-Of-The-Art Components to Drive Market Growth
- Retrofit Installation - Rising Demand for System Upgrades to Boost Market Growth
Company Profiles
Key Players
- Schneider Electric
- Johnson Controls
- Siemens
- Resideo Technologies
- Legrand
- Assa Abloy
- Apple
- ADT
- Robert Bosch
- ABB
Other Players
- Nice S.P.A.
- Eufy
- Develco Products
- Loxone Electronics
- Wozart Technologies
- Vivint
- Control4
- The Domotics
- Okos
- Delta Controls
- General Electric Company
- Nuki Home Solutions
- Crestron Electronics
- Simplisafe
- Savant
For more information about this report visit https://www.researchandmarkets.com/r/r82m78
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