Global Home Automation System Market Report and Forecast 2024-2032

Global Home Automation System Market Outlook

The global home automation system market reached a value of about USD 76.46 billion in 2023. The market is further expected to grow at a CAGR of nearly 8% in the forecast period of 2024-2032 to reach a value of approximately USD 152.84 billion by 2032.

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The Asia Pacific home automation system market is likely to see a substantial growth rate during the forecast period of 2024-2032. The home automation system market in this region is projected to be fuelled by the growing adoption in India, which is estimated to increase at a positive pace during the forecast period. In addition, other Asian countries, such as Indonesia, Taiwan, and South Korea, are expected to boost the development of the market in that region during the forecast period.

Market Segmentation

Home automation includes integrating smart technology into homes for health, comfort, and energy conservation. This includes the monitoring and computerisation of lighting, heating, ventilation, as well as air conditioning (HVAC) and protection systems. Over time, digitalisation has raised consumer spending on home automation systems that allow homeowners to manage, track, and automate the various devices, appliances, and systems all over the house with just a touch of a button. The development of automated homes has resulted in streamlined and unified process control, making the lives of consumers more secure and convenient.

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These systems find their applications in the following segments:

• Lighting Control
• Security and Access Control
• HVAC Control
• Entertainment and Other Controls

Based on type, the market can be divided into the following:

• Managed Mainstream 
• DIY 
• Luxury (Custom) 

The regional markets for home automation systems include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

Home automation systems are gaining popularity around the globe due to their various benefits, like notifying users of intruders in their homes, which in effect helps deter future crimes. These also help to reduce energy usage and increase operating efficiency. In addition, the rising living standards and the availability of affordable home automation solutions have enabled customers in all segments of income to install these systems in their homes. Moreover, with the use of the Internet of Things (IoT) in these systems, anything from appliances to security systems can be operated by smart home apps. This technology also enables users to track their home from another location using a computer, tablet, or smartphone app. As a result, several technology giants, including Apple, Google, Microsoft, and Samsung, have invested in the home automation business. All these factors are contributing to the growth of the overall home automation system market.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global home automation system market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Siemens Aktiengesellschaft
• Honeywell International Inc
• Schneider Electric SE
• ABB Ltd
• Samsung Electronics
• Johnson Controls Inc
• Legrand North America, LLC 
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report