Global IoT Home Automation Market

Global IoT Home Automation Market – Analysis and Forecast (2016-2024) – by installation, by application, by Technology, by Geography
PUNE, India - Dec. 24, 2018 - PRLog -- Global IoT home automation market is segmented into installation, application, technology, and region. Based on installation, the global IoT home automation market is classified into luxury home, mainstream home, managed home, and DIY home. In terms of application, the global IoT home automation market is categorized into lighting, safety & security, HVAC, entertainment, and others.

Global IoT Home Automation Market was valued US$ 39.60 Bn in 2016, and is projected to reach at US$ 81.64 Bn by 2024, growing at a CAGR of 11.2% during a forecast period.

On the basis of technology, the global IoT home automation market is divided into wired and wireless. Based on regions, the global IoT home automation market is segregated into five main regions are America, Europe, Asia-pacific, Latin America and Middle East & Africa.

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The entertainment control market is expected to hold the largest share among different products in the IoT home automation market. The growth of the audio, volume, & multimedia room controls is driven by the convenience offered by these controls for managing and controlling the entertainment systems in a house.

Lighting control is anticipated to be the second-largest market for IoT home automation systems during the forecast period. Based on technology, the wireless segment is anticipated to dominate the wearable camera product market by 2024. Wireless technology is less invasive, have low set-up cost, and more convenient to use which has resulted in an increased adoption of it in the IoT home automation system

IoT home automation is utilization of intelligent terminals, which is automation system to control home appliances and equipment. Rise in awareness for efficient energy usage, increase in electricity prices, and technological advancements are anticipated to drive the home automation market growth. Moreover, rise in safety & security concerns fueled the adoption of home automation system, thus boosting the market growth. However, lack of awareness about home automation products and high initial investments in home automation are anticipated to hamper the home automation market growth. Raised in adoption of automated services is anticipated to provide lucrative opportunities for the global home automation market..

Key players operated in the Global IoT Home Automation Market


• ADT Pulse

• Control4 Corporation

• Crestron

• Vera

• HomeSeer

• SmartThings

• Frontpoint

• Savant

• Siemens AG

• Johnson Controls

• Honeywell

• United Technologies Corporation

• Schneider Electric

• Acuity Brands

• Monitronics International

• Vivint Inc.

• Assa Abloy

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