Increasing Use Of IoT Devices Promote The Home Automation Market Demand

The Business Research Company’s Home Automation Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON , UK, February 24, 2022 /EINPresswire.com/ -- The increasing use of internet of things (IoT) devices in a home automation system are expected to propel the home automation market growth in the forecast period. The Internet of Things based home automation system uses internet protocols or cloud computing to operate all of the smart home's equipment. The IoT-based home automation system has numerous advantages over wired systems, including flexibility, ease-of-installation, avoidance of the complexity of flowing through wires or weak electrical wiring, easy problem detection and triggering, and, most all, mobility. For instance, according to the Ericsson statistics on IoT in modern homes, consumer devices accounted for 63% of all installed IoT equipment in 2020 and the number of mobile IoT connections is predicted to reach 3.5 billion by 2023. According to TBRC’s home automation market forecast, the increasing use of IoT devices in home automation systems drive the growth of the market.

The growing technological advancements are shaping the global home automation market. Major companies operating in the home automation sector are focused on developing technological solutions for home automation to strengthen their position. For instance, Crestron Electronics, a US-based manufacturer and distributor of audiovisual automation and integration equipment launched Horizon EX Dimmers and Keypads based on wireless mesh technology. The new series of wall-box controllers, which includes matching dimmers and keypads, provides an innovative custom control solution as part of a complete Crestron smart home.

Read more on the Global Home Automation Market Report:
https://www.thebusinessresearchcompany.com/report/home-automation-global-market-report

The global home automation market size is expected to grow from $54.41 billion in 2021 to $61.62 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The change in the home automation market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $95.07 billion in 2026 at a CAGR of 11.4%.

In June 2020, Jersey Telecom (JT) Ltd., a UK-based telecommunications company acquired Zero1 for an undisclosed amount. Through this acquisition, Jersey Telecom expanded its intelligent engineering and home automation service offerings. Zero1 is a designer and supplier of environment and entertainment automation systems for homes and businesses in the Channel Islands.

Major players covered in the global home automation industry are ABB, Crestron Electronics Inc., Schneider Electric, Honeywell International Inc., Johnson Controls Inc., Siemens AG, Legrand, Control4, Home Brain, Savant Systems Inc., Lutron Electronics Company, Sauter AG, United Technologies Corporation, Bosch Security and Safety Systems, Silvan Innovation Labs, Elan Home Systems LLC, Fueb and Harman International.

TBRC’s global home automation market analysis report is segmented by product into lighting control, security and access control, HVAC control, entertainment, others, by technology into wired home automation system, wireless home automation system, by end-user into residential, commercial, others.

Home Automation Global Market Report 2022 – By Product (Lighting Control, Security And Access Control, HVAC Control, Entertainment), By Technology (Wired Home Automation System, Wireless Home Automation System), By End User (Residential, Commercial) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a home automation market overview, forecast home automation market size and growth for the whole market, home automation market segments, geographies, home automation market trends, home automation market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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