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China Home Automation Market Future Outlook - Ken Research

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Rising adoption across residential applications is expected to drive the market growth over the forecast period. Factors such as significant IoT market growth, cost reduction in home automation systems... To know more about the research report: – PowerPoint PPT presentation

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Title: China Home Automation Market Future Outlook - Ken Research


1
Home Automation Global Market to Prosper Owing to
Technological Evolution - Ken Research
2
Home automation involves provision of advanced
digital technology and high end solutions for
automated products. The technology manages to
deliver better efficiency and performance in
every household activity via the strong
centralized control of the system. The home
automation system market environment mainly
comprises of- interface manufacturers, system
integrators, and distributors. The evolution of
smart home automation recently has offered
numerous advantages, like system scalability and
easy extension, aesthetical benefits, integration
of mobile devices, maximizing home security,
remote control of home functions, increased
energy efficiency, improved appliance
functionality, and home management insights.
3
The industry research report titled, Home
Automation Market Analysis By Component
(Hardware, Software, Service), By Application
(Lighting, Security and Access Control, HVAC and
Entertainment Control), By Technology, By Region
And Segment Forecast Till 2025 provides an
extensive insight and analysis of the Home
Automation Market over the next seven years and
acts as a significant point of reference for
operators or suppliers. The home automation
market is mainly split by (a) technology basis
wherein showcasing of revenue, market share and
growth rate of each type is provided largely
divided into Wired and Wireless and (b) by
component basis wherein the revenue, market
share and growth rate of each type, are primarily
segregated into Hardware, Software and Services
and (c) by applications basis wherein focuses on
the status and perception for major applications,
market share and growth rate for each application
are present including Lighting, HVAC,
Entertainment Control and Security Access
Control.
4
This global market involves the markets in
regions namely North America, Europe, Asia
Pacific, the Middle East, Africa and Latin
America, with revenue, market share and growth
rate wherein the leading market players include
ABB Ltd., Electronic Control Corporation,
Crestron Electronics Inc., Honeywell
International Inc., Ingersoll-Rand PLC., Johnson
Controls, Legrand SA., Schneider Electric SE.,
Siemens AG., Leviton Manufacturing Company Inc.,
and Lutron Electronics Co. Inc. The global home
automation system market had registered a
valuation of around USD 39.93 Billion in 2016
which has been foreseen to further grow at a
decent CAGR of 11.3 in the coming years. The
augmenting adoption across residential
applications is expected to be the major demand
driver for the industry. Also, factors involving
significant IoT market growth, cost reduction in
home automation systems, and convenience of
remote operations will help in bolstering
expansion of the home automation system market.
5
The hardware segment is projected to account for
a majority share and supersede the component
market by 2025. Even, the service segment is
expected to witness a significant growth due to
developing adoption of the smart technology. Fast
growing advances in home automation systems as
well as using of technologies (to add value to
the provision of urban services) have been
witnessed as requiring authorization for
sustainable development of new methods which may
involve integration of hardware, software, and
service ultimately leading to amelioration of the
overall competitiveness of the industry. Even,
upsurge in the adoption of such devices or
systems in applications like lighting, HVAC
energy management, security, entertainment, and
smart kitchen is undoubtedly projected to help
the industry develop. This augmentation mainly
owes to the ever increasing preferences of
consumers for connectivity, convenience, safety,
and security. Moreover, there has been presence
of a large number of manufacturers in the
industry which are extending their product
portfolios, and the evolving importance of home
monitoring from remote locations is also
forecasted to drive the market globally.
6
Geographically, North America is anticipated to
be the major regional segment in the years to
proceed, owing to well-established manufacturers
and a large consumer base. The region has
accounted for the largest revenue share and is
further expected to grow at a CAGR of more than
8 from 2018 to 2025. The North American,
European, and Asia Pacific regions are projected
to maintain their positions and be the key
revenue generating segments of this industry. The
Asia Pacific region is currently experiencing a
healthy growth in disposable income due to
macroeconomic stimulus, which is further expected
to drive market growth in future. Also, the
market in Europe is anticipated to be promising
enough for the global growth because of the
increasing investments in infrastructure to
improve the standards of living. The main reason
that will boost the industry such that it
relishes success in future is- the burgeoning
consumer awareness for energy efficient products,
urbanization, and relatively changing lifestyles
with enhanced convenience, safety and security
which will altogether have an affirmative impact
on the industry. Furthermore, the amplifying
demand for features like the convenience of
remote operation and exceptional experience
offered by smart home automation is highly likely
to propel the global market growth in the coming
years. Innovative technologies, such as voice
controlled smart home devices and growing
geriatric population base will be the key factors
that lead to great revenue generation by the
global industry cumulatively as the years roll by.
7
Also, with the passage of time growing
penetration of Internet of Things which helps in
the move to direct digital controls for better
machine to machine communication is expected to
spur the market growth by encouraging more and
more users to adopt for smart home automation
technology. Key topics covered in the
report Global Home Automation Market Research
Report Global Smart Home Automation Industry
Future Outlook Home Automation System Global
Market Trends Global Home Automation Market
Innovation Trends Home Automation Global Market
revenue Asia Pacific Home Automation Market
Europe Home Automation Market North America Home
Automation Market
8
China Home Automation Market Future Outlook Japan
Home Automation Market Future Outlook US Home
Automation Market Future Outlook Global Home
Automation Smart Technologies Market
Insights Global Home Automation Services Future
Projections Global Building Automation and
Control Systems Industry Demand Smart Offices in
Global Home Automation Industry Global Home
Automation Major Market Service Providers Home
Automation Global Industry Upcoming Advancements
9
To know more about the research
report https//www.kenresearch.com/manufacturing-
and-construction/machinery-and-parts/home-automati
on-market-analysis-by-component-hardware-software-
service-/144751-97.html Related
Reports https//www.kenresearch.com/manufacturing
-and-construction/machinery-and-parts/generator-ma
nufacturing-global-market-report/143661-97.html h
ttps//www.kenresearch.com/manufacturing-and-const
ruction/machinery-and-parts/industrial-mold-manufa
cturing-global-market-report/143670-97.html Conta
ct Us Ken Research Ankur Gupta, Head Marketing
Communications sales_at_kenresearch.com 0124-4230204
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