Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 71.19 Million | USD 263.88 Million | 15.67% | 2023 |
FrequentlyAsked Questions
Home automation, which is frequently referred to as smart home technology, is the process of utilizing technology to regulate and supervise a variety of components of a residence, including lighting, ventilation, security, and entertainment systems, through a centralized system or network. This technology enables homeowners to remotely control devices and automate duties using voice commands, tablets, or smartphones.
The increasing integration of IoT devices enables the development of more intelligent and connected residential systems. Home automation is fundamentally reliant on the intercommunication of smart sensors, devices, and appliances.
According to a report from Zion Market Research, the global Home Automation Market was valued at USD 71.19 Million in 2023 and is projected to hit USD 263.88 Million by 2032.
According to a report from Zion Market Research, the global Home Automation Market a compound annual growth rate (CAGR) of 15.67% during the forecast period 2024-2032.
On the basis of region home automation market is segmented into North America, Europe, Asia Pacific, Latin America and Meddle East and Africa. North America is projected to hold significant share owing to the huge user base along with the presence of majority key player of the market. North America, Europe and Asia Pacific are considered to be the main income generating region for home automation market.
Crestron Electronics Inc., Legrand, Honeywell International Inc., Schneider Electric SE, Control4 Corporation, ABB Ltd., Johnson Controls Inc., Siemens AG and Zigbee Alliance among others
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