Lucintel’s latest market report analyzed that home automation provides attractive opportunities in the residential sector. The home automation market is expected to reach $101.1 billion by 2027 with a CAGR of 10%. In this market, safety and security is the largest segment by application, whereas managed service is largest by installation type. Growing demand for IoT technology in the home automation system, development of video enabled drones and constant developments in security technology products such as smart cameras and various sensors and detectors provides strategic growth path in this market.
Download Brochure of this report by clicking on https://www.lucintel.com/home-automation-market.aspx Based on application, the home automation market is segmented into safety and security, entertainment control, lighting, HVAC control, and others. The safety and security segment accounted for the largest share of the market in 2021 and is expected to register the highest CAGR during the forecast period, due to the increasing need for continuous monitoring services to reduce the risk of crime, burglary, and theft.
Browse in-depth TOC on “Home Automation Market”
85 – Tables
73 – Figures
157 – Pages
The Home automation Market is marked by the presence of several big and small players. Some of the prominent players offering home automation include ADT Corporation, Control4 Corporation, United Technologies Corporation, Honeywell, Johnson Control, Siemens AG, Acuity Brands, AMX Inc., Monitronics International, ivint Inc.
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