Global KNX Products Market Size is Anticipated to Acquire USD 30.47 Billion by 2030 With a CAGR of 9.54%

SAN FRANCISCO, U.S., Aug. 14, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “KNX Products Market By Type (Sensors, System Devices, And Actuators), By Application (Commercial Buildings And Residential Buildings), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

According to the latest research study, the global KNX products market size & share was valued at approximately USD 14.53 billion in 2022. The market is expected to grow above a CAGR of 9.54% and is anticipated to reach over USD 30.47 billion by 2030.

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KNX Products Market Overview:

KNX is an open standard for residential and commercial building automation. Furthermore, KNX products can handle lighting, shutters, blinds, shutters, security systems, energy management, HVAC, audio video, remote control, and white goods. Reportedly, it is an intelligent system that combines various operations of buildings such as lighting, heating, and cooling into a unified whole. This, in turn, reduces expenditure and enhances energy efficiency.

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Key Insights from Primary Research

• The global KNX products market is anticipated to record massive growth over the forecast period owing to rising electricity costs along with surging awareness pertaining to the need for power efficiency.
• In terms of type, the system devices segment is slated to register the fastest CAGR over the anticipated period.
• On the basis of application, the commercial buildings segment is slated to dominate the global industry share over the forecast timespan.
• Region-wise, the Asia-Pacific KNX products industry is projected to register the highest CAGR during the assessment timeline.

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KNX Products Market: Growth Factors

• Increasing electricity costs will amplify global market trends

Rising electricity costs along with surging awareness pertaining to the need for power efficiency will steer the expansion of KNX products market growth across the globe. In addition to this, massive demand for these products in residential & commercial buildings will impel the global market trends. Surging concerns regarding the reduction in natural energy resources and swift climatic changes have led to the massive demand for KNX products across the globe.

KNX Products Market: Restraints

• Low awareness among people about the benefits offered by the product can put brakes on the global industry surge

Escalating costs and less awareness about product benefits can halt the growth of the global KNX products industry. For the record, in the countries such as the U.S., KNX products face stiff competition from Z-Wave and ZigBee. Apart from this, rising complexity and lack of wireless connectivity can further put brakes on global industry expansion.

Competitive Players

The report contains qualitative and quantitative research on the global KNX Products Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.

Some of the main players in the global KNX Products market include;

• Schneider Electric SE
• ABB Limited
• Siemens AG
• Hager Group
• Legrand
• Gira
• Somfy
• Albrecht Jung GmbH & Co.KG
• JUNG
• HDL Automation
• STEINEL
• Urmet
• Lime International
• GVS
• E.G.
• Ekinex
• DALITEK
• Berker
• IPAS GmbH
• JOBO Smartech
• And others

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KNX Products Market: Segmentation

The global KNX products market is sectored into type, application, and region. 

In type terms, the global KNX products market is segregated into sensors, system devices, and actuators segments. In addition to this, the system devices segment, which gathered nearly 33% of the global market revenue in 2022, is predicted to record a significant rate of growth over the projected timespan.

Based on the application, the global KNX products industry is divided into commercial buildings and residential buildings segments. Furthermore, the commercial buildings segment, which accounted for more than 35% of the global industry share in 2022, is set to contribute majorly towards the global industry revenue share by 2030.

Regional Analysis:

The European region is likely to dominate the global KNX products market growth over the forecast timeframe

The continent of Europe, which contributed more than 60% of the global KNX products market share in 2022, is predicted to lead the regional market sphere in the coming years. The market growth in the continent over the prognosis timeline can be a result of KNX being a standard protocol for smart homes in countries such as Germany in Europe. For the record, in Germany, KNX accounts for nearly 50% of the share of the home automation sector in Europe. Furthermore, the with home automation sector predicted to expand remarkably in countries such as the UK, the market in Europe is anticipated to gain traction in the years ahead. Additionally, countries such as Belgium, Holland, and Germany are projected to be the major revenue drivers of the region.

Furthermore, the KNX products industry in Asia-Pacific is expected to register the highest CAGR in the assessment timeline.

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Report Scope:

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The global KNX Products market is segmented as follows:

By Type                                                                                        

• Sensors
• System Devices
• Actuators

By Application

• Commercial Buildings
• Residential Buildings

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Key Offerings:

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market

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