The advent of home automation solutions has made living easy in many ways. The convenient solutions that home automation systems offer are boosting the market for the same. Technological advancements in the developing countries are also leading to several home automation solutions that offer enhanced performance and efficiency. The global home automation market is mainly being driven by the urgent need to safeguard homes and make living simpler than what it is.
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The global home automation market is segmented on the basis of application, networking technology, type, and geography. Home automation solutions are applied in areas such as safety and security, lighting, HVAC (heating, ventilation, and air-conditioning), entertainment (home audio and video), and others such as robotics and health care. The networking technologies used in the global home automation market are wired home automation systems, computing network home automation systems, power-line automation systems, and wireless home automation systems. On the basis of type, this market is segmented into luxury (custom) home automation systems, DIY (do it yourself) home automation systems, mainstream home automation systems, and managed home automation services. Geographically, this market is segmented into Asia Pacific, Europe, North America, and Rest of the World.
North America to Retain Lead in Global Home Automation Market
Out of all the regions, North America held the dominating position in the home automation market in 2014 and is expected to continue its stance all the way through 2020. This dominance will be the result of technological advancements in developed nations such as Canada and the U.S. The high demand for home automation in North America will also be due to the increasing consumer awareness and inclination towards using technology for automating several surrounding functions. Apart from North America, Asia Pacific and Europe collectively held a share of more than 40% in the global home automation market.
Safety and Security Solutions to Remain at the Forefront
The home automation market is being propelled by demand for the safety and security segment, which held the biggest share in the market in 2014. This trend is expected to continue, as the demand for better safety and security home automation systems will motivate researchers to develop excellent solutions for remote home monitoring to reduce the risk of criminal activities. This segment will be followed by the entertainment and lighting segment in the near future.
Wi-Fi-powered Gadgets to Dominate Home Automation Market
The wireless system segment of home automation technology showed a faster rise up the ladder of success as compared to the others in 2013. This trend has continued and analysts predict it will move ahead at an accelerated pace as the number of products with Wi-Fi grow, complementing the demand for home automation solutions running on wireless technology. In the same timeframe, power-line systems achieved the second fastest growth rate in the networking technology segment, a development that is expected to continue in the coming years.
Some of the important players in the global home automation market are Crestron Electronics, Inc., AMX LLC, Vantage Controls, 2GIG Technologies, Siemens AG, ADT Corporation, Honeywell International Inc., Johnson Controls, iControl Networks Inc., and Schneider Electric SA.