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Home Automation System Market worth 79.57 Billion USD by 2022
The home automation system market is expected to reach USD 79.57 Billion by 2022, at a CAGR of 11.3% during the forecast period between 2017 and 2022. The growth of this market is propelled by the cost reduction measures enabled by home automation systems, the presence of a large number of manufacturers expanding their product portfolios, and the increasing importance of home monitoring from remote locations.
The entertainment control market is anticipated to hold the largest share among different products segments in the home automation system market. The growth of the audio, volume, & multimedia room controls is driven by the convenience offered by these controls for managing as well controlling the entertainment systems in a house.
The proactive solutions segment is expected to hold the largest size of the home automation system market during the forecast period. The proactive solutions are specifically designed to enable consumers to understand energy patterns and take effective measures to reduce their consumption. They are highly beneficial as they can also send recommendation signals to end users for taking necessary energy reduction actions and can then control the electronic devices based on the users’ actions
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