Home Automation Market – Segmented by Networking Technology
The home automation market is undergoing a growth phase marked with great turbulence and complexity. This market has been through many variations in terms of applications and technologies. Over the past few years, home automation has suffered decline in the growth of this market due to poor market image, high costs, and technology adoption difficulties.
Nevertheless, it has resurfaced with entry of large number of players across multiple supply chain verticals and end-user solutions. The market is intensified due to the introduction of telcos, broadband service providers, utilities and other networking technologies that are penetrating the market with packaged/bundled services.
The open-platform systems are now superseded with proprietary platform based systems causing great complexity for end-users. Considering the other networking platforms available in the home automation market, the concept of wireless systems has captured more than half the market shares, today. Home automation network are heterogeneous systems using wired, as well as wireless methods of communication within HVAC system and other common devices in a home. Their revenue distribution is predicted to stir high-growth of alliances including, Zigbee, Z-Wave, and KNX. Now-a-days, the viable entry of using Wi-Fi Direct and Apple signaling its intention to consume the home automation market with high shares may disrupt the market gains by miscellaneous wireless technologies in the global market.
However, this may highlight the need to bring in DIY type of automation solutions as reinforcement to the home automation market. Among the multifarious networking technologies, the fixed-wire home automation systems, wireless technologies, and power-line systems are expected to experience decline in the overall market share.
Future Scope in Home Automation Market
According to a leading market study, the home automation market was valued at USD 3.6 billion in 2012 and is expected to reach USD 16.4 billion by 2019, growing at a CAGR of 24.6% from 2013 to 2019. Deployment for these systems is especially seen in Europe and North American regions.
The universal need for automated system techniques essential for automation applications has penetrated the market as a mainstream solution. These systems are no longer considered as a luxury concept. Today, initiatives are been undertaken by security providers to equip homeowners with easy to integrate and install sub-systems in a home. This has made end-consumers as beneficiaries who have the leisure to reap benefits of price competitiveness.
Smart Homes Equipped with Modern Home Automation Installation Systems
A smart home entails a combination of multiple advanced products and computing information technology devices specially designed for selective applications so as to comfort the homeowner with complete control, convenience, security, and entertainment over electronic systems through the up-gradation of technology within the user’s home. Such homes have always been a dream for people longing for a comforting and high-quality life, and currently, many new regulatory initiatives and developments are taking place for the same.
Introduction to Home Automation Market
As monitoring services shrink with every passing day, security services market and solutions have emerged as the de facto source for smart home automation systems. Smart homes and home automation installation systems are ambiguous expressions often used in reference to a variety of solutions for monitoring, controlling, and automating functions in residential spaces. Despite the regular disparities amongst installation standards and different cultures around the world, the home automation systems have made a notch providing state-of-the-art solutions including, lighting control, energy, HVAC control, security control, entertainment control, access control, communication protocols, outdoor control, standards, and data distribution.
Home automation technology has been in the market for many years and has witnessed a number of key changes in system offerings and ecosystems that back this type of growth. It has only recently entered into the mainstream and the systems have already led to abundant power savings, enhanced living standards, and a convenient lifestyle to consumers. The home automation market has witnessed immense growth during the last five years, and is likely to witness growth in the coming years.