Home Automation Market to Garner US$ 114 Bn by 2025 Exhibiting CAGR of 12.1% says Fortune Business Insights

Global Home Automation Market currently occupying US$ 45.8 Bn in 2017, is expected to reach US$ 114 Bn by 2025, at a steady CAGR of 12.1% on account of increased internet penetration in undeveloped nations and government initiatives.

Pune, India - May 15, 2019 /MarketersMedia/ —

The Global Home Automation Market will gain from the rapid adoption of smart home technology. Recently Fortune Business Insights, published a report, titled “Home Automation Market Size, Share and Global Trend by Product Type (Luxury Home Automation System, Mainstream Home Automation System, Managed Home Automation System, DIY Do It Yourself Home Automation System), Application (Safety and Security, Lighting, Entertainment (Audio and Video), Heating, Ventilation and Air conditioning), Networking Technology (Wired Home Automation System, Wireless Home Automation System) and Geography Forecast till 2025.”

As per the report, in 2017 the global home automation market was worth US$ 45.8 Bn. The global market is anticipated to expand at a CAGR of 12.1% and reach US$ 114 Bn by the end of 2025. In terms of application, the lighting segment held the highest market share in 2017. The segment accounted for 25% of the global home automation market. The segment is expected to witness impressive growth during the forecast period 2018-2025. Growth witnessed in this segment is attributable to the increasing need for reducing energy consumption. This is likely to propel the demand in the global home automation market.

Request Sample Copy at https://www.fortunebusinessinsights.com/enquiry/sample/home-automation-market-100074

Integration of lighting products with IoT based renewable sources of energy and cloud-based technology is expected to reduce the energy consumption. This in response would also generate demand for home automation products and services, said a lead analyst at Fortune Business Insights.

Honeywell Emerges Dominant in Global Market with its Advanced Control Strategies

Honeywell International Inc., emerged dominant in the global home automation market in 2017. The growth witnessed is due to advanced control strategies adopted by the organization. Honeywell is also known for investing and acquiring start-ups to offers its products in various nations. Besides this, other companies operating in the global home automation market are Crestron Electronics Inc., AMX LLC (Harman), Control4 Corporation, Johnson Controls Inc., Siemens AG, Savant Systems LLC., and ABB Ltd.

Increasing Adoption of Wireless Technology to Fuel Demand in Global Market

Increasing internet penetration and rising willingness for luxurious lifestyle are major factors anticipated to drive the global home automation market during the forecast period 2018-2025. Moreover, increasing purchasing power and the adoption of wireless technology is expected to increase the demand in the global home automation market.

Integration of the Internet of Things in home automation products, besides the Artificial Intelligence is also projected to boost the global home automation market.

However, the high costs associated with home automation products and services and high data prices are a few factors that may restrain the global home automation market during the forecast period.

North America to Retain Dominance Through Forecast Period

North America emerged dominant in the global home automation market in 2017. The market in North America was valued at US5 16.4 Bn in 2017. It is expected to remain the leading region through the forecast period. The growth witnessed is attributable to the increasing number of mergers and partnerships taking place in the region. Additionally, high adoption of Internet of Thing in nations such as the U.S. and Canada is likely to increase the growth rate in the global home automation market. North America is also expected to expand at a relatively high CAGR in response to the increasing number of smart homes in nations such as Canada and the U.S.

Browse Complete Report Details at https://www.fortunebusinessinsights.com/industry-reports/home-automation-market-100074

About us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Info:
Name: Fortune Business Insights
Email: Send Email
Organization: Fortune Business Insights
Address: Fortune Business Insights Pvt Ltd 308, Supreme Headquarters, Survey No 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India
Phone: +1 424 253 0390
Website: https://www.fortunebusinessinsights.com

Source URL: https://marketersmedia.com/home-automation-market-to-garner-us-114-bn-by-2025-exhibiting-cagr-of-121-says-fortune-business-insights/513011

Source: MarketersMedia

Release ID: 513011

More Press Releases

Stan Lee's former manager arrested on elder abuse charges

May 26, 2019

LOS ANGELES — A former business manager of Stan Lee was arrested Saturday on elder abuse charges involving the late comic book legend. Keya Morgan was taken into custody in Arizona on an outstanding arrest warrant after being charged by Los Angeles County prosecutors earlier this month. Morgan faces felony charges including theft, embezzlement, forgery or fraud against an elder adult, and false imprisonment of an elder adult. A misdemeanor count also alleges elder abuse. Authorities say Morgan sought to capitalize on the Marvel Comic mastermind's wealth and exert influence over Lee even though he had no authority to act...

10 wounded as gunmen open fire outside New Jersey bar

May 26, 2019

TRENTON, N.J. — At least two gunmen fired into a crowd outside a bar in New Jersey's capital city, wounding 10 people, two critically, but the motive for the shooting remains unknown, authorities said. Mercer County Prosecutor Angelo Onofri said a vehicle pulled up to the corner outside Ramoneros Liquor and Bar in Trenton at about 12:25 a.m. Saturday and when the shooters fired more than 30 shots before fleeing. Five men and five women were taken to a hospital with gunshot wounds. Two of the male victims were listed in critical but stable condition while the others were in...

Leclerc tops 3rd practice in Monaco, teammate Vettel crashes

May 26, 2019

MONACO — Ferrari had mixed fortunes in third and final practice for the Monaco Grand Prix on Saturday, with Sebastian Vettel crashing and his teammate Charles Leclerc topping the charts ahead of both Mercedes cars. Leclerc, who is from Monaco, will look to clinch his second pole position of the season in qualifying later Saturday. In third practice, he was 0.053 seconds ahead of Valtteri Bottas and 0.213 clear of Formula One championship leader Lewis Hamilton. Red Bull's Max Verstappen was fourth fastest. Leclerc has impressed at times in his first season with Ferrari, but Vettel is struggling with his...

Mario Batali to face assault charge on groping accusation

May 26, 2019

BOSTON — Celebrity chef Mario Batali is set to appear in court on a criminal charge that he forcibly kissed and groped a woman at a Boston restaurant in 2017. Batali is scheduled to be arraigned Friday in Boston Municipal Court on a charge of indecent assault and battery. The woman filed a civil lawsuit in August alleging that Batali offered to take a selfie with her and then groped and kissed her repeatedly without her consent. Batali's attorney says the chef denies the allegations. The woman's lawyers said in an emailed statement on Thursday that Batali "must be held...

File says Smollett couldn't contact brothers after arrest

May 26, 2019

CHICAGO — One of Jussie Smollett's conditions after posting $10,000 bail amid charges he lied about being the victim of a racist, anti-gay attack was that he have no contact with two brothers police say he paid to help stage the incident, according to a case file unsealed Thursday in Chicago. Besides that detail, the "Empire" actor's criminal case file appears to contain little new information. The bulk of the more-than-250-page file centers on the legal battle between media organizations that wanted access to the file and Smollett's attorneys who wanted it kept sealed. In his order for the file...

Broaden News

Reporter Pass is the only access you need to get into Hollywood. No matter it’s the red carpet event or backstage access, we’ve got you covered.

Contact us: sales@reppass.com

Award ShowsCelebrityPaparazziRoyaltyMoviesMusicTelevision Programs Press Releases