Portland, OR, Aug. 03, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global home automation and controls market generated $52.98 billion in 2021, and is projected to reach $156.59 billion by 2031, growing at a CAGR of 12.0% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive scenario, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $52.98 billion |
| Market Size in 2031 | $156.59 billion |
| CAGR | 12.0% |
| No. of Pages in Report | 279 |
| Segments covered | Type, technology, application, and region. |
| Drivers | Surge in need of maintenance of secure & safe environment |
| Increase in the adoption of wireless technologies | |
| Opportunities | Rise in demand for smart home lighting systems |
| Surge in the popularity of smart homes | |
| Restrains | Lack of interoperability between home control systems |
| High Cost |
COVID-19 Scenario:
- The outbreak of COVID-19 had a negative impact on the growth of the global home automation and controls market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of several manufacturing facilities including those of home automation and home controls. Thus, the demand for home automation and controls consequently reduced. This was majorly due to the stringent social distancing restrictions imposed by the government to significantly curb the spread of the virus during the pandemic.
- In addition, ban on trade and strict import and export regulations made it difficult for manufacturers to acquire necessary raw material.
- Furthermore, huge economic and financial crisis was experienced during the pandemic among people, limiting the need to purchase expensive items. However, the market is expected to recoup soon.
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The report offers a detailed segmentation on the global home automation and controls market based on type, technology, application and region.
Based on type, the home automation system segment held the largest market share in 2021, garnering more than half of the global market, and is expected to maintain its leadership status during the forecast period. The mainstream home automation system segment, on the other hand, is predicted to cite the fastest CAGR of 12.7% during the forecast period.
Based on technology, the computing network home automation systems segment held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The powerline home automation systems segment, on the other hand, is expected to cite the fastest CAGR of 14.9% during the forecast period.
Based on application, the safety and security segment held the dominating market share in 2021, garnering more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The segments analyzed in the report include Lighting, HVAC, Entertainment, and others.
Based on region, the market across Europe held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 13.6% during the forecast period.
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The key players analzyed in the global home automation and controls market report include Johnson Controls International PLC (Ireland), Legrand Group (France), Leviton Manufacturing Co. (U.S.), Inc., ABB Ltd (Switzerland), ADT Inc. (U.S.), AMX LLC (U.S.), Control4 Corporation (U.S.), Honeywell International Inc. (U.S.), and Siemens AG (Germany).
The report analyzes these key players of the global home automation and controls market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players of the market.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the home automation and controls market analysis from 2022 to 2031 to identify the prevailing home automation and controls market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the home automation and controls market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global home automation and controls market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
- Type
- Home Automation System
- Mainstream Home Automation System
- Managed Home Automation System
- Technology
- Wired Home Automation Systems
- Wireless Home Automation Systems
- Powerline Home Automation Systems
- Computing Network Home Automation Systems
- Application
- Lighting
- HVAC
- Entertainment
- Safety and Security
- Others
- By Region
- North America
- U.S
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Italy
- France
- Rest of Europe
- Middle East
- Africa
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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