Home Automation Market to Discern Magnified Growth During 2020 Home Automation Market to Discern Magnified Growth

Home Automation Market to Discern Magnified Growth
During 2020
With technological advancements in several developing countries across the globe, home automation
solutions are evolving continuously. Modern day home automation solutions utilize high end digital
technology for providing better performance and efficiency. Home automation systems refer to all such
systems, whether used as a single application or as integrated solutions that are used to automate processes.
They are electricity powered and are manually controlled (such as turning on the AC, dimming lights,
managing entrance gate and cameras, operating smart appliances in a house, and so on.
The home automation market is primarily driven by growing need for effective solutions in various
domestic applications such as lighting, safety and security, energy management, entertainment (audio and
video) and HVAC (heating, ventilation, and air conditioning). High degree of internet connectivity and
penetration in developed countries such as the U.S., the U.K., France, and Germany is also contributing to
the growth of home automation market globally. Safety and security was the highest revenue generating
application segment in 2015.
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Factors such as rising awareness towards energy conservation and ability to manage energy consumption
through automation technologies primarily influence market growth. Smartphone based home automation
solution is also observing a significant growth in demand. Increasing usage of smartphone based home
automation apps is also contributing to the growth of overall home automation market globally. North
America led the home automation market in 2014 and the region is expected to continue its dominance in
2020. The region’s dominance is due to advancement in technology in countries such as the U.S. and
Canada. Moreover, consumer awareness and affinity towards new technology is further contributing to the
growth of home automation market in North America. Europe and Asia Pacific followed North America in