Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 14.53 Billion | USD 30.47 Billion | 9.54% | 2022 |
FrequentlyAsked Questions
KNX is an open standard for residential and commercial building automation. Furthermore, KNX products can handle lighting, shutters, blinds, shutters, security systems, energy management, HVAC, audio video, remote control, and white goods. Reportedly, it is an intelligent system that combines various operations of buildings such as lighting, heating, and cooling into a unified whole. This, in turn, reduces expenditure and enhances energy efficiency.
The global KNX products market growth is owing to the massive demand for these products in residential & commercial buildings.
According to a study, the global KNX products industry size was $14.53 billion in 2022 and is projected to reach $30.47 billion by the end of 2030.
The global KNX Products market is anticipated to record a CAGR of nearly 9.54% from 2023 to 2030.
The Asia-Pacific KNX products industry is set to register the highest CAGR over the forecasting timeline owing to the acceptance of home automation systems in countries such as India with a surge in tech-savvy consumers in the country. Moreover, key industry players such as Schneider Electric SE, ABB Limited, Siemens AG, and Hager Group are establishing new units in countries such as China, Japan, and India, thereby driving regional industry trends.
The global KNX products market is led by players such as Schneider Electric SE, ABB Limited, Siemens AG, Hager Group, Legrand, Gira, Somfy, Albrecht Jung GmbH & Co.KG, JUNG, HDL Automation, STEINEL, Urmet, Lime International, GVS, E.G., Ekinex, DALITEK, Berker, IPAS GmbH, JOBO Smartech, MDT Technologies GmBH, Tiansu, Theben AG, Zennio Avance y Tecnologia S.L, and Rishun Technology.
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