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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.
North America is expected to lead the overall home automation system market between 2017 and 2022. The demand for domestic energy management systems and the growing trend of green homes have contributed significantly toward the growth of this market. The number of smart homes in North America, especially the U.S., is much higher than that in any other region in the world. This market is expected to grow at a steady pace during the forecast period. The market in APAC is expected to grow at the highest CAGR during the forecast period owing to the presence of a significant number of new residential projects and strengthening of the building infrastructure.
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