Happy’s Tech Talk #38: Novel Metallization for UHDI
It’s Only Common Sense Mastering the Follow-Up—The Key to Closing More Deals
Driving Innovation: Registration in PCB Production Throughout the Process
Home Automation Market to Value $ 114B at 12.1% CAGR by 2025
May 14, 2019 | PRNewswireEstimated reading time: 2 minutes
The global home automation market is anticipated to expand at a CAGR of 12.1% and reach US$ 114 Bn by the end of 2025. In terms of application, the lighting segment held the highest market share in 2017. The segment accounted for 25% of the global home automation market. The segment is expected to witness impressive growth during the forecast period 2018-2025. Growth witnessed in this segment is attributable to the increasing need for reducing the energy consumption. This is likely to propel the demand in the global home automation market.
"Integration of lighting products with IoT based renewable sources of energy and cloud-based technology is expected to reduce the energy consumption. This in response would also generate demand for home automation product and services," said a lead analyst at Fortune Business insights.
Increasing Adoption of Wireless Technology to Fuel Demand in Global Market
Increasing internet penetration and rising willingness for luxurious lifestyle are major factors anticipated to drive the global Home Automation Market during the forecast period 2018-2025. Moreover, increasing purchasing power and adoption of wireless technology is expected to increase the demand in the global home automation market.
Integration of the Internet of Things in home automation products, besides the Artificial Intelligence is also projected to boost the global home automation market.
However, high cost associated with home automation products and services and high data prices are a few factors that may restrain the global Home Automation Market during the forecast period.
North America to Retain Dominance Through Forecast Period
North America emerged dominant in the global Home Automation Market in 2017. The market in North America was valued at US5 16.4 Bn in 2017. It is expected to remain the leading region through the forecast period. The growth witnessed is attributable to the increasing number of mergers and partnerships taking place in the region. Additionally, high adoption of Internet of Thing in nations such as the U.S. and Canada is likely to increase the growth rate in the global home automation market. North America is also expected to expand at a relatively high CAGR in response to the increasing number of smart homes in nations such as Canada and U.S.
Honeywell Emerges Dominant in Global Market with its Advanced Control Strategies
Honeywell International Inc., emerged dominant in the global Home Automation Market in 2017. The growth witnessed is due to advanced control strategies adopted by the organization. Honeywell is also known for investing and acquiring start-ups to offers its products in various nations.
Share on:
Suggested Items
Ericsson, Nokia, ANDREW, and Huawei Take Top Spots in ABI Research’s DAS/DRS Vendors Competitive Ranking
05/07/2025 | ABI ResearchDriven by the growing demand for seamless connectivity and 5G readiness, the Distributed Antenna System (DAS) and Distributed Radio System (DRS) market is shifting toward more intelligent, scalable solutions tailored to diverse enterprise environments.
SolderKing Achieves the Prestigious King’s Award for Enterprise in International Trade
05/06/2025 | SolderKingSolderKing Assembly Materials Ltd, a leading British manufacturer of high-performance soldering materials and consumables, has been honoured with a King’s Award for Enterprise, one of the UK’s most respected business honours.
DuPont Reports First Quarter 2025 Results
05/02/2025 | PRNewswireDuPont announced its financial results for the first quarter ended March 31, 2025.
KLA Reports Fiscal 2025 Q3 Results
05/02/2025 | PRNewswireKLA Corporation announced financial and operating results for its third quarter of fiscal year 2025, which ended on March 31, 2025, and reported GAAP net income of $1.09 billion and GAAP net income per diluted share of $8.16 on revenues of $3.06 billion.
Meet Thiago Guimaraes, IPC's New Director of Industry Intelligence
05/05/2025 | Chris Mitchell, IPC VP, Global Government RelationsThe fast pace of innovation in the electronics manufacturing industry means business owners must continuously adapt their processes and capabilities to meet changing customer demands and market trends. To that end, IPC has hired Thiago Guimaraes as the new director of Industry Intelligence. In this interview, Thiago shares key goals and objectives that could revolutionize the industry as he helps stakeholders navigate industry trends and challenges.