Smart Home Automation Market Industry Analysis, Size, Share, Growth, Trends, and Forecast 2026

Polaris Market Research published its latest findings in a new study on Smart Home Automation Market is anticipated to reach around USD 203.3 billion by 2026 growing at a CAGR of 13.6% from 2019-2026.The study provides in-depth analysis on different factors such as industry growth potential, market drivers, restraints and challenges. The study also focuses on different market dynamics which are expected to affect the market. The value-chain analysis in the report helps in understanding the overall market from both supply side and demand side.

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The study includes major players in the Smart Home Automation Market such as Johnson Controls, ABB Ltd., Ingersoll-Rand plc, Schneider Electric, Legrand SA, Crestron Electronics, Inc., Siemens AG, Honeywell International, Inc., Control4 Corporation, and Leviton Manufacturing Company, Inc.

The study evaluates the overall Smart Home Automation Market by the following segments:

• Smart Home Automation Market Size and Forecast by Component, 2018-2026
• Hardware
• Software
• Services
• Smart Home Automation Market Size and Forecast by Technology, 2018-2026
• Wired
• Wireless
• Smart Home Automation Market Size and Forecast by Channel, 2018-2026
• Luxury
• Mainstream
• DIY
• Managed
• Smart Home Automation Market Size and Forecast by Application, 2018-2026
• Lighting
• Entertainment
• Security and Access Control
• HVAC
• Others
• Smart Home Automation Market Size and Forecast by Region, 2018-2026
• North America
• US.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
• Latin America
• Brazil
• Middle East & Africa

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Key Takeaways of the report

·         This report provides pin-point analysis for changing competitive dynamics

·         It provides a forward-looking perspective on different factors driving or restraining market growth

·         It provides a eight-year forecast assessed on the basis of how the market is predicted to grow

·         It helps in understanding the key market segments and their future

·         It provides in-depth analysis of changing competition dynamics and keeps you ahead of competitors

·         It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

Smart Home Automation Market share, Trends, Regional analysis and outlook to 2026

The worldwide Smart Home Automation Market is anticipated to reach around USD 203.3 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the entertainment segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global Smart Home Automation market.

The growing demand for remote monitoring of homes, along with increasing costs associated with energy use increases the demand for smart home automation. The increasing use of mart home automation in the development of smart cities, along with government regulations regarding energy use and emissions support the smart home automation market growth. The rising adoption of Internet of Things, and smart devices boosts the adoption of smart home automation.  Other factors driving the market growth include growing penetration of mobile devices, technological advancements, and development of smart cities. New emerging markets, emerging consumer demographics, and increasing awareness among consumers regarding efficient energy use would provide growth opportunities for smart home automation market in the coming years.

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The rising concerns regarding energy efficiency has increased the adoption of smart home automation. Smart home automation systems maintain the controls of home equipment to maximize energy efficiency. For instance, the thermostat uses a temperature threshold to govern the home’s heating and cooling system. They can also be programmed with different target temperatures to keep energy usage at a minimum.

  

In 2017, North America accounted for the highest share in the global smart home automation market. The primary factors driving the smart home automation market growth in the region include established telecommunication industry and cloud infrastructure, rising penetration of mobile devices, technological advancements, and high investment in R&D. The introduction of favorable government regulations regarding energy usage and emissions, and rising awareness regarding use of energy efficient equipment boost the smart home automation market in North America. The increasing concerns regarding safety and access control, increasing development of smart cities, and growing adoption of connected devices and IoT further increase the demand of Smart Home Automation in the region.

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The companies operating in the smart home automation markett include Johnson Controls, ABB Ltd., Ingersoll-Rand plc, Schneider Electric, Legrand SA, Crestron Electronics, Inc., Siemens AG, Honeywell International, Inc., Control4 Corporation, and Leviton Manufacturing Company, Inc. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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