DUBLIN–(BUSINESS WIRE)–The “Home Automation and Controls Market By Type, By Technology, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The global home automation and controls market was valued at $52,982.2 million in 2021, and is projected to reach $156,586.5 million by 2031, registering a CAGR of 12.05% from 2022 to 2031.
Home automation system refers to automatic and electronic control of household features, activity, and appliances. In addition, home automation is a network of hardware, communication, and electronic interfaces, which work to integrate smart devices with one another via Internet.
The key factor that drives the growth of the home automation and controls market include surge in adoption of energy efficient products and maintenance of secure & safe environment with enhanced user convenience in various industry verticals.
Rise in deployment of home automation devices in large commercial buildings and expensive homes is expected to drive the market growth for home automation and control system. Smart homes are gaining popularity with the introduction of high number of IoT applications, including heating, ventilation, HVAC system, multimedia, alarm systems, lighting, and home appliances.
However, security and control systems have become an essential part, owing to rise in security concerns in large commercial buildings.
Furthermore, surge in need for HVAC control, lighting control, and improved standard of living is expected to boost the market demand for home automation devices globally.
Key Benefits
Key Market Segments
By Type
By Technology
By Application
By Region
Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/4ywt0z
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
