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How Large Was the Home Automation Market in 2024 and Where Is It Expected to Be in 2029?
The home automation market exhibited strong growth in recent years. From a value of $71.19 billion in 2024, it is forecasted to grow to $77.65 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to growing consumer awareness, convenience and time-saving, energy efficiency concerns, increased focus on health and wellness, and enhanced data privacy.
Additionally, this market is expected to see rapid growth in the years ahead. Projections show it will reach $123.88 billion in 2029, representing a CAGR of 12.4%. This forecasted growth can be attributed to factors such as focus on sustainable and green homes, health and wellness monitoring, focus on sustainability, customization and personalization, and DIY home automation kits.
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What Are the Main Drivers Behind the Growth of the Home Automation Market?
One key driver in the home automation market growth is the increasing use of internet of things (IoT) devices in home automation systems. IoT-based home automation systems use internet protocols or cloud computing to operate all of the smart home’s equipment. These systems offer numerous advantages, including greater flexibility, ease of installation, the ability to avoid complexities related to cluttered wiring, easy problem detection and correction, and mobility. For instance, according to Exploding Topics, by 2030, it is expected that there will be 25.4 billion IoT devices. Therefore, the incorporation of IoT devices in home automation systems is triggering the growth of the home automation market.
Which Are the Major Segments in the Home Automation Market?
The home automation market report segments the market into:
1) By Product: Lighting Control, Security And Access Control, HVAC Control, Entertainment, Other Products
2) By Technology: Wired Home Automation System, Wireless Home Automation System
3) By End User: Residential, Commercial, Other End Users
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Who Are Some Major Players in the Home Automation Market?
Major companies operating in the home automation market include ABB, Crestron Electronics Inc., Schneider Electric SE, Honeywell International Inc., Johnson Controls Inc., Siemens AG, Legrand Group, Control4, Home Brain, Savant Systems Inc., Lutron Electronics Company, Sauter AG, Bosch Security and Safety Systems, Silvan Innovation Labs, Elan Home Systems LLC, Fueb, Harman International, LG Electronics Inc., August Inc., HomeSeer Technologies LLC, Amazon Inc., Google Nest, ADT Inc., Vivint Smart Home Inc., SimpliSafe, Ring LLC, Ecobee, Somfy, Netatmo, and SmartThings Inc.
What Are Some Key Trends in the Home Automation Market?
Technological advancements are transforming the home automation market. Companies are focusing on developing breakthrough solutions for home automation to strengthen their competitive position. For example, Hogar Controls launched a series of home automation products in June 2022. The products include smart touch panels, controllers, digital door locks, and smart curtain motors, presenting a comprehensive solution for architects, interior designers, and contemporary consumers.
In Which Region is the Home Automation Market Growing Rapidly?
In 2024, North America was the largest region in the home automation market. However, the home automation market is poised for rapid growth across several regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Home Automation Market Define?
Home automation refers to the electronic and automatic control of household activities, features, and equipment. It is a network of hardware, communication, and electronic interfaces that enable the integration of everyday devices through the Internet. With the help of sensors and WiFi connectivity, every appliance in a home can be controlled via smartphones or tablets, whether you’re home or thousands of miles away. This concept of home automation is also known as domotics, and a home equipped with such an automation system is called a smart home.
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