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Home automation is the utilization of intelligent terminals, which is an automation system to manage home appliances and equipment. Increase in awareness for efficient energy usage, rise in electricity prices, and technological advancements are expected to drive home automation market growth. Moreover, increase in safety & security concerns fueled the adoption of home automation systems, thus boosting the market growth.
Top Impacting Factors
The factors that impact the worldwide home automation market include development of innovative & energy efficient automated systems, growth in IoT market, increase in importance of home monitoring from remote locations, growth in consumer awareness to availability of smart home Products such as automated security & lighting systems, and stringent government regulations.
The home automation system is increasing, owing to development of the construction industry and increase in demand for energy efficiency in smart homes & buildings. The home automation industry is dominated by remote control solutions, as mobile apps and other remote solutions are expensive in the developing regions and lack of standardisation are expected to hamper the home automation market growth.
- Increase in Electricity Prices
- Government Regulations
- Increase In Awareness Among Consumers
- Technological Advancements
- Longer Payback Period
Key Benefits for Home Automation Market:
This study provides an in-depth research of the worldwide home automation market share along with current trends and future estimations to identify potential investment pockets for stakeholders. This is present information related to key drivers, restraints, and opportunities along with their impact analysis.
Home Automation Key Market Segments:
1. By Application
- Lighting
- Safety & Security
- HVAC
- Entertainment
- Others
2. By Technology
- Wired
- Wireless
- By Type
- Luxury
- Do it Yourself (DIY)
- Managed
- Mainstream
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