According to a new market research report published by MarketsandMarkets, the value of home automation and controls (lighting control, security control, access control, HVAC control, entertainment control, outdoor control, communication protocols, standards and data distribution) market was worth US$19.15 billion in 2012, and is expected to reach $48.02 billion by 2018, at an estimated CAGR of 16.9% from 2013 to 2018
According to a new market research report published by MarketsandMarkets, the value of home automation and controls (lighting control, security control, access control, HVAC control, entertainment control, outdoor control, communication protocols, standards and data distribution) market was worth US$19.15 billion in 2012, and is expected to reach $48.02 billion by 2018, at an estimated CAGR of 16.9% from 2013 to 2018.
Even though the concept of home automation has been in existence for a long time, the market has witnessed profound growth mainly in the past five years. Stringent regulations being imposed by governments, augmented by the increasing need of regular homeowners to save costs, are the primary factors contributing to the growth of this market. The growing awareness about wireless technologies and the developments toward the integration of wired and wireless technologies will further propel this market.
The detailed segmentation by product and geography included in the report covers all the major controls and technologies used in home automation. The major control products that have been extensively covered in the report are lighting control, security control, access control, HVAC control, entertainment control, outdoor control and other controls. All the major communication protocols, such as KNX, DALI and NEMA, and wired and wireless technologies, such as BACnet, LonWorks, ZigBee, EnOcean, Bluetooth, Z-Wave, Wi-Fi and many more, have also been discussed in the report.
Apart from the segmentation, the report also covers other market aspects such as drivers, restraints, opportunities, burning issues and winning imperatives in detail. It also evaluates the market through various models such as the Porter's five forces model, and analyzes the market's value chain and industry lifecycle. The report draws the competitive landscape of the home automation and controls market, providing an in-depth comparative analysis of the technological and marketing strategies that key players are adopting, in order to gain an edge over their competitors.