Current Business Affairs Global Home Automation Market 2018

Global Home Automation Market Trends, Analysis, and Forecast To
2025
The global home automation market was estimated as USD 36.12 billion in 2015 and is expected to grow significantly
with a CAGR of over 11% over the forecast period owing to the rising adoption across residential applications. Factors
such as significant IoT market growth, cost reduction in home automation systems, and convenience of remote
operation are projected to drive the home automation system market.
Home automation or domotics is structuring automation which involves the control of lighting, heating, ventilation, air
conditioning, security systems, audio/video systems, and kitchen appliances such as washer, ovens or refrigerators. The
system offers operations of household appliances more convenient and energy efficient. It delivers automatic
controlling of all electronic & electrical devices in homes or distant through wireless communication.
Increasing adoption of devices or systems in applications such as lighting, HVAC & energy management, security,
entertainment, and smart kitchen is projected to grow the market share. Also, increasing preferences of consumers for
connectivity, convenience, safety, and security are further anticipated to propel the industry growth over the forecast
period. The increasing technological advancement for internet accessibility and rising penetration of IoT applications in
the direction of digital controls for better machine to machine communication has further encouraged the smart home
application, thereby driving the market growth.
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Home automation offers advanced digital technology & high end solutions for automated products. The technology
delivers better efficiency & performance in household activities to centralized control the system. For instance, Tata
Power DDL (Delhi Distribution Ltd). And Honeywell, in India, pronounced their Automated Demand Response (ADR)
project for commercial & industrial facilities. With Honeywell collaboration, Tata Power DDL has planned to connect
with more than 160 buildings in distribution network including power management during peak consumption phase.
In 2015, Swann security launched SwannOne app which allows users to control their lights, AC’s, security cameras, and
locks. The app is compatible with cloud storage solutions and audio analytics. Furthermore, Mouser Electronics has
collaborated with TE Connectivity, AirCorp, TE Connectivity, and Factory Automation System for a new Home and
Factory Automation Series which would focus on innovative automation technologies.
Few other drivers positively impacting the home automation market growth includes increasing demand of mobile apps,
rapid mobile connectivity, and global presence companies expanding the product portfolios. Furthermore, rising
consumer awareness for energy efficient products, urbanization, and changing lifestyle with enhanced convenience,
safety and security are also encouraging the market growth. However, high installation cost may acts as a barrier for
industry growth over the forecast period.
Global home automation market has been segmented on the basis of component, technology, and application. On the
basis of component, the market is segmented as hardware, software & services. Based on technology, the segment has
been bifurcated as wired and wireless.