ALBANY, New York, April 19, 2018 (GLOBE NEWSWIRE) -- The presence of copious number of players render the global home automation market fairly competitive, finds Transparency Market Research (TMR). A majority of smart home companies are focused on launching technologically-advanced products with varied functionalities for home users. Companies are adopting strategies on similar lines to retain customers and stay competitive, with an aim to consolidate their revenues, observes TMR. The constant flux of new players is likely to raise the ante higher for the exciting players and will intensify competition in the long term.
Players holding a sizeable stake in the home automation market include ADT Corporation, Control4 Corporation, Honeywell International Inc., Vantage Controls, iControl Networks Inc., Siemens AG, Schneider Electric SA, Crestron Electronics, Inc., Johnson Controls, AMX LLC, and 2GIG Technologies.
Download PDF for Research Insights at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=785
The global home automation market stood at US$4.41 billion in 2014, and is prognosticated to garner a spectacular CAGR of 26.3% during the forecast period of 2014–2020.
The various applications of home automation can be grouped into lighting, safety and security, HVAC (heating, ventilation, and air-conditioning), energy management, entertainment, and others consisting of robotics and healthcare. Of these, the safety and security application segment held the leading share in 2014 and is expected to retain its dominance throughout the assessment period. The extensively rising uptake is fueled by the rising demand for home monitoring solutions in various parts of the globe.
Get a PDF Sample at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=785
Regionally, North America held a majority of share in the global market in 2014 and is expected to hold its sway through 2020. Rapid advancements in smart home technologies and widespread adoption of home automation applications are driving the regional market. This is followed by the Europe and Asia Pacific market.
Widespread Demand for Smart Home Technologies to drive Comfort and Convenience boost Market
The rising demand for smart home technologies underpinned by the convenience and comfort of automation is a key factor providing a sustained thrust to the home automation market. The adoption of remotely controllable network and sensors to manage various home applications such as energy management, safety, heating and cooling systems, ventilation, and entertainment, is driving the market. The substantial need for automating home security features through internet of things (IoT) technology is bolstering the demand for home automation solutions.
Browse Press Release at https://www.transparencymarketresearch.com/pressrelease/home-automation-market.htm
In worldwide populations, particularly in emerging and developed economies, home automation solutions are providing innovative ways for introducing comfort and convenience in their lifestyle. The rising adoption of home automation solutions that can provide remote monitoring and access is a notable factor accentuating the market. Substantial advances made in connected device technologies, coupled with the rising internet penetration in various parts of the world, are significant trend boosting the market. The rapid pace of urbanization characterized by a hectic lifestyle is increasingly supporting the attractiveness of automation solutions among home users.
High Cost of Deployment may Dissuade Price-sensitive Customers
The presence of reliable internet connections in developing and developed nation helps in leveraging the potential of home automation technologies. This is a notable factor accentuating the global market. However, the high cost of deploying home automation system is a notable factor that may dampen the enthusiasm for adoption. This is especially vital for price-sensitive consumers in some developing economies, who lack considerable disposal incomes to adopt automation for their homes. Nevertheless, with the rising popularity of smart devices among end users and the extensive efforts made by manufactures to promote their products are likely to pave way for lucrative avenues in the market.
Download Complete TOC at https://www.transparencymarketresearch.com/report-toc/785
The study presented here is based on a report by Transparency Market Research (TMR) titled “Home Automation Market (Application - Lighting, Safety and Security, HVAC (Heating, Ventilation, and Air-Conditioning), Entertainment (Home audio and video), Robotics, and Healthcare; Networking Technology - Wired home automation systems, Power-line Home Automation Systems, Computing Network Home Automation Systems, and Wireless Home Automation Systems; Type - Luxury (Custom) Home Automation Systems, Mainstream Home Automation Systems, DIY (Do It Yourself) Home Automation Systems, and Managed Home Automation Services) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”
Key Takeaways:
- The substantial need to adopt remote home monitoring solutions is spurring the home automation solutions for safety and security applications
- The rapid pace of urbanization characterizes by hectic lifestyle is bolstering the adoption of home automation solutions
The global home automation market is segmented based on:
Application
- Lighting
- Safety and security
- HVAC (Heating, Ventilation, and Air-Conditioning)
- Entertainment (Home audio and video)
- Robotics
- Heath Care
Networking Technology
- Wired home automation systems
- Power-line home automation systems
- Computing network home automation systems
- Wireless home automation systems
Type
- Luxury (custom) home automation systems
- Mainstream home automation systems
- DIY (Do It Yourself) home automation systems
- Managed home automation services
Region
- North America
- Asia Pacific
- Europe
- Rest of the World
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
Contact Us
Mr. Atil Chaudhari
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Research Blog: http://www.techyounme.com/