Home Automation Market Size is estimated to reach at USD 136.5 Billion by 2030, registering a CAGR of 11.2%, Owing to Growing Number of Smart City Infrastructure in Emerging Economies – GlobeNewswire

TOKYO, Aug. 07, 2022 (GLOBE NEWSWIRE) — The Global Home Automation Market size Accounted for USD 53.4 Billion in 2021 and is predicted to be worth USD 136.5 Billion by 2030, with a CAGR of 11.2% during the projected period from 2022 to 2030.

The rising demand for features such as remote operation convenience and the incredible experience provided by remote monitoring and control is expected to fuel the global home automation market expansion over the projected timeframe. This industry’s proportion is predicted to grow because of the increasing usage of systems or devices in a wide range of industries such as surveillance, illumination, entertainment, Ventilation, and air conditioning & power system, and intelligent kitchen. This technological advancement has occurred as customers’ demands for comfort, connection, security, and reliability have increased, which is projected to fuel expansion in the home automation market.

Home automation technology is an emerging solution that automatically performs the majority of electronic, electrical, and technological operations in a home. The term “smart home” refers to a house that has an automation system, which is also known as “domotics”. The primary types of products available in home automation are security and access control, lighting control, entertainment, HVAC control, and many others. Lighting systems are a form of connected lighting apparatus that enables individuals to control the intensity, brightness, and properties of illumination in a designated area. These connected devices reduce electricity consumption while simultaneously encouraging energy efficiency. The various technologies comprise wired home control systems as well as wireless home automation, which are used in a variety of settings such as domestic, industrial, as well as others.

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Source: https://www.globenewswire.com/news-release/2022/08/07/2493500/0/en/Home-Automation-Market-Size-is-estimated-to-reach-at-USD-136-5-Billion-by-2030-registering-a-CAGR-of-11-2-Owing-to-Growing-Number-of-Smart-City-Infrastructure-in-Emerging-Economies.html

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Market Home Automation Market
Home Automation Market Size 2021 USD 53.4 Billion
Home Automation Market Forecast 2030 USD 136.5 Billion
Home Automation Market CAGR 11.2% During 2022 – 2030
Analysis Period 2018 – 2030
Base Year 2021
Forecast Data