The home automation and controls market size has grown rapidly in recent years. It will grow from $69.68 billion in 2023 to $78.6 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The expansion observed during the historical period can be attributed to the emergence of IoT technology, heightened awareness of energy conservation, growing consumer demand for convenience, the proliferation of smart home ecosystems, and heightened concerns regarding home security.
The home automation and controls market size is expected to see rapid growth in the next few years. It will grow to $128.17 billion in 2028 at a compound annual growth rate (CAGR) of 13%. The anticipated growth in the forecast period can be credited to the widespread adoption of voice-activated smart assistants, the aging population's preference for independent living, the widespread availability of high-speed internet, rapid urbanization alongside smart city initiatives, and a rising consumer consciousness. Significant trends expected in the forecast period include heightened integration with AI and machine learning, the implementation of advanced security measures, the development of smart home solutions tailored to assist older adults, the integration of solar panels, and the deployment of 5G technology.
The anticipated rise in residential buildings is poised to drive the home automation and controls market in the foreseeable future. A residential building denotes a structure comprising individual living units where individuals reside or spend significant time. This surge in residential buildings is attributed to the escalating demand for housing in urban areas, population growth, robust economic expansion, and increasing incomes. Home automation entails intelligent management of security, comfort, and well-being aspects within residences. These systems also enable remote monitoring and control of vacation homes, rental properties, or secondary residences. For example, in June 2023, as per the Central Statistics Office, an Ireland-based governmental agency, the residential building sector witnessed a 7.1% increase in volume in Q1 2023 compared to Q4 2022. Hence, the uptick in residential buildings is propelling the expansion of the home automation and controls market.
Leading companies in the home automation and controls market are concentrating on developing inventive products to gain a competitive edge. Home-automated products encompass various devices and systems aimed at enhancing convenience, efficiency, and security within households through automated control and remote monitoring. For instance, in June 2022, Hogar Controls, a US-based company specializing in smart home and building automation, introduced the Elite Series of home automation products in the Indian market. This launch augments a comprehensive lineup comprising state-of-the-art smart touch panels, cutting-edge controllers, digital door locks, and smart curtain motors, promising to redefine home automation by offering convenience, security, and sophistication to Indian consumers.
In June 2023, ABB Ltd., a Switzerland-based technology conglomerate, acquired Eve Systems GmbH for an undisclosed sum. Through this acquisition, both entities aim to capitalize on the growing demand for smart home technology driven by heightened consumer interest in energy efficiency. This strategic move signifies a significant step forward for ABB in the rapidly expanding smart home technology arena, addressing the escalating need to retrofit existing buildings for enhanced comfort, convenience, and energy efficiency. Eve Systems GmbH, headquartered in Germany, specializes in manufacturing home automation products and connected accessories.
Major companies operating in the home automation and controls market are Siemens AG, Honeywell International Inc., Johnson Controls International PLC, Koninklijke Philips N.V., Legrand Group, ADT Inc., Logitech Harmony, Ecovacs Robotics Co. Ltd., Crestron Electronics Inc., Nice S.p.A., Sonos Inc., Leviton Manufacturing Co. Inc., iRobot Corporation, Lutron Electronics Inc., AMX LLC, Control4 Corporation, ecobee Inc., Netatmo SAS, Wink Labs Inc., 2GIG Technologies Inc., August Home, Aeotec Group GmbH.
North America was the largest region in the home automation and controls market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the home automation and controls market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the home automation and controls market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Home automation and control involves the automated regulation and remote oversight of diverse home systems like lighting, security, and sprinklers. It establishes connections among electrical devices, enabling remote control through a home's computer network via computers or mobile devices. This technology offers notable benefits in terms of convenience, cost savings, and time efficiency.
The primary types of home automation and controls include home automation systems, mainstream home automation systems, and managed home automation systems. A home automation system comprises a network of interconnected devices and technologies facilitating automated control and management of various household aspects. This technology encompasses diverse systems for home automation, encompassing wired, wireless, powerline, and computing networks. These systems cater to various applications including lighting, heating, ventilation, and air conditioning (HVAC), entertainment, safety, security, among others.
The home automation and controls research report is one of a series of new reports that provides home automation and controls market statistics, including the home automation and controls industry's global market size, regional shares, competitors with a home automation and controls market share, detailed home automation and controls market segments, market trends and opportunities, and any further data you may need to thrive in the home automation and controls industry. This home automation and controls market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The home automation and controls market consists of revenues earned by entities by providing services, such as voice control integration, energy management, and smart lighting control. The market value includes the value of related goods sold by the service provider or included within the service offering. The home automation and control market also includes sales of smart locks, smart sensors, home security systems, and smart plugs. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The home automation and controls market size is expected to see rapid growth in the next few years. It will grow to $128.17 billion in 2028 at a compound annual growth rate (CAGR) of 13%. The anticipated growth in the forecast period can be credited to the widespread adoption of voice-activated smart assistants, the aging population's preference for independent living, the widespread availability of high-speed internet, rapid urbanization alongside smart city initiatives, and a rising consumer consciousness. Significant trends expected in the forecast period include heightened integration with AI and machine learning, the implementation of advanced security measures, the development of smart home solutions tailored to assist older adults, the integration of solar panels, and the deployment of 5G technology.
The anticipated rise in residential buildings is poised to drive the home automation and controls market in the foreseeable future. A residential building denotes a structure comprising individual living units where individuals reside or spend significant time. This surge in residential buildings is attributed to the escalating demand for housing in urban areas, population growth, robust economic expansion, and increasing incomes. Home automation entails intelligent management of security, comfort, and well-being aspects within residences. These systems also enable remote monitoring and control of vacation homes, rental properties, or secondary residences. For example, in June 2023, as per the Central Statistics Office, an Ireland-based governmental agency, the residential building sector witnessed a 7.1% increase in volume in Q1 2023 compared to Q4 2022. Hence, the uptick in residential buildings is propelling the expansion of the home automation and controls market.
Leading companies in the home automation and controls market are concentrating on developing inventive products to gain a competitive edge. Home-automated products encompass various devices and systems aimed at enhancing convenience, efficiency, and security within households through automated control and remote monitoring. For instance, in June 2022, Hogar Controls, a US-based company specializing in smart home and building automation, introduced the Elite Series of home automation products in the Indian market. This launch augments a comprehensive lineup comprising state-of-the-art smart touch panels, cutting-edge controllers, digital door locks, and smart curtain motors, promising to redefine home automation by offering convenience, security, and sophistication to Indian consumers.
In June 2023, ABB Ltd., a Switzerland-based technology conglomerate, acquired Eve Systems GmbH for an undisclosed sum. Through this acquisition, both entities aim to capitalize on the growing demand for smart home technology driven by heightened consumer interest in energy efficiency. This strategic move signifies a significant step forward for ABB in the rapidly expanding smart home technology arena, addressing the escalating need to retrofit existing buildings for enhanced comfort, convenience, and energy efficiency. Eve Systems GmbH, headquartered in Germany, specializes in manufacturing home automation products and connected accessories.
Major companies operating in the home automation and controls market are Siemens AG, Honeywell International Inc., Johnson Controls International PLC, Koninklijke Philips N.V., Legrand Group, ADT Inc., Logitech Harmony, Ecovacs Robotics Co. Ltd., Crestron Electronics Inc., Nice S.p.A., Sonos Inc., Leviton Manufacturing Co. Inc., iRobot Corporation, Lutron Electronics Inc., AMX LLC, Control4 Corporation, ecobee Inc., Netatmo SAS, Wink Labs Inc., 2GIG Technologies Inc., August Home, Aeotec Group GmbH.
North America was the largest region in the home automation and controls market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the home automation and controls market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the home automation and controls market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Home automation and control involves the automated regulation and remote oversight of diverse home systems like lighting, security, and sprinklers. It establishes connections among electrical devices, enabling remote control through a home's computer network via computers or mobile devices. This technology offers notable benefits in terms of convenience, cost savings, and time efficiency.
The primary types of home automation and controls include home automation systems, mainstream home automation systems, and managed home automation systems. A home automation system comprises a network of interconnected devices and technologies facilitating automated control and management of various household aspects. This technology encompasses diverse systems for home automation, encompassing wired, wireless, powerline, and computing networks. These systems cater to various applications including lighting, heating, ventilation, and air conditioning (HVAC), entertainment, safety, security, among others.
The home automation and controls research report is one of a series of new reports that provides home automation and controls market statistics, including the home automation and controls industry's global market size, regional shares, competitors with a home automation and controls market share, detailed home automation and controls market segments, market trends and opportunities, and any further data you may need to thrive in the home automation and controls industry. This home automation and controls market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The home automation and controls market consists of revenues earned by entities by providing services, such as voice control integration, energy management, and smart lighting control. The market value includes the value of related goods sold by the service provider or included within the service offering. The home automation and control market also includes sales of smart locks, smart sensors, home security systems, and smart plugs. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Home Automation and Controls Market Characteristics3. Home Automation and Controls Market Trends and Strategies32. Global Home Automation and Controls Market Competitive Benchmarking33. Global Home Automation and Controls Market Competitive Dashboard34. Key Mergers and Acquisitions in the Home Automation and Controls Market
4. Home Automation and Controls Market - Macro Economic Scenario
5. Global Home Automation and Controls Market Size and Growth
6. Home Automation and Controls Market Segmentation
7. Home Automation and Controls Market Regional and Country Analysis
8. Asia-Pacific Home Automation and Controls Market
9. China Home Automation and Controls Market
10. India Home Automation and Controls Market
11. Japan Home Automation and Controls Market
12. Australia Home Automation and Controls Market
13. Indonesia Home Automation and Controls Market
14. South Korea Home Automation and Controls Market
15. Western Europe Home Automation and Controls Market
16. UK Home Automation and Controls Market
17. Germany Home Automation and Controls Market
18. France Home Automation and Controls Market
19. Italy Home Automation and Controls Market
20. Spain Home Automation and Controls Market
21. Eastern Europe Home Automation and Controls Market
22. Russia Home Automation and Controls Market
23. North America Home Automation and Controls Market
24. USA Home Automation and Controls Market
25. Canada Home Automation and Controls Market
26. South America Home Automation and Controls Market
27. Brazil Home Automation and Controls Market
28. Middle East Home Automation and Controls Market
29. Africa Home Automation and Controls Market
30. Home Automation and Controls Market Competitive Landscape and Company Profiles
31. Home Automation and Controls Market Other Major and Innovative Companies
35. Home Automation and Controls Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Home Automation and Controls Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on home automation and controls market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for home automation and controls? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The home automation and controls market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Type: Home Automation System; Mainstream Home Automation System; Managed Home Automation System2) by Technology: Wired Home Automation Systems; Wireless Home Automation Systems; Powerline Home Automation Systems; Computing Network Home Automation Systems
3) by Application: Lighting; Heating, Ventilation and Air Conditioning (HVAC); Entertainment; Safety and Security; Other Applications
Key Companies Mentioned: Siemens AG; Honeywell International Inc.; Johnson Controls International PLC; Koninklijke Philips N.V.; Legrand Group
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Siemens AG
- Honeywell International Inc.
- Johnson Controls International PLC
- Koninklijke Philips N.V.
- Legrand Group
- ADT Inc.
- Logitech Harmony
- Ecovacs Robotics Co. Ltd.
- Crestron Electronics Inc.
- Nice S.p.A.
- Sonos Inc.
- Leviton Manufacturing Co. Inc.
- iRobot Corporation
- Lutron Electronics Inc.
- AMX LLC
- Control4 Corporation
- ecobee Inc.
- Netatmo SAS
- Wink Labs Inc.
- 2GIG Technologies Inc.
- August Home
- Aeotec Group GmbH
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | June 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 78.6 Billion |
Forecasted Market Value ( USD | $ 128.17 Billion |
Compound Annual Growth Rate | 13.0% |
Regions Covered | Global |