Home Automation Market Size, Share & Industry Analysis 2029

Home Automation System Market was valued at USD 36.2 billion in 2021 and is projected to reach USD 78.2 billion in 2029, growing at a CAGR of 10.1%.

The factors driving the growth of Home Automation System Market includes rise in homeownership rates, growing smartphone penetration rates around the world, increasing demand for home automation systems at residential and hospitality sectors and improvements in living standards. Moreover, integration of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT), increasing sales of automated anti-theft devices and rapid urbanization, are some of the additional factors supplementing the Global Home Automation System Market. In addition, the increasing investments by leading players on research and development, strategic collaboration between key industry players, rise in the launch of innovative products and growing population growth rates, are further propelling the Home Automation System Market size.

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However, growth of the Home Automation System Market is hindered due to high cost of installing home automation systems.

The prominent players operating in the market are Schneider Electric SE, ABB Group, Ingersoll-Rand Plc, Honeywell International, Inc., Legrand S.A., Johnson Controls, Inc., Lutron Electronics, Inc., Crestron Electronics Inc., Siemens AG, and Control4 Corporation.

Based on Product, the Entertainment and Other Controls segment is predicted to expand at a remarkable CAGR during the forecast period

Growing demand for smart plugs and smart locks, rise in the launch of innovative products, are some of the factors responsible for segment’s growth

Based on Software & Algorithm, the Proactive segment is projected to capture the largest market share over the forecast period

Proactive solutions can act on behalf of end users, helps in informed decisions, and saves energy, are some of the features propelling segment’s growth.

Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period

Proliferation of smartphones, laptops and tablets, improvements in internet connectivity, growing adoption of advanced technologies, increase in the launch of innovative products, rising per capita income, rapid urbanization, and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Key Developments

In 2022, Johnson Controls, Inc. completed the acquisition of FogHorn, developer of Edge AI software for commercial and industrial IoT solutions, this acquisition will expand company’s foothold in smart and Autonomous Buildings market.
In 2021, Schneider Electric collaborated with Livspace to expand its business in home automation systems market. Schneider Electric planned to offer its wiser home automation solutions to Livspace centres.
In 2021, Legrand partnered with the URC to extend its smart home automation and control business for residential and commercial users.

Market Segmentation

Segmentation by Product

Lighting Control
- Relays
- Occupancy Sensors
- Daylight Sensors
- Timers
- Dimmers
- Switches
- Accessories and Other Products
Security and Access Control
- Video Surveillance
  - Hardware
    - Security Cameras
    - Storage Devices
    - Monitors
    - Accessories
  - Software/Video Analytics
  - Services
- Access Control
  - Biometric Access Control
    - Facial Recognition
    - Iris Recognition
    - Fingerprint Recognition
    - Others
  - Non-Biometric Access Control
- HVAC Control
  - Smart Thermostats
  - Sensors
  - Control Valves
  - Heating and Cooling Coils
  - Dampers
  - Actuators
  - Pumps & Fans
  - Smart Vents
- Entertainment and Other Controls
  - Entertainment Control
    - Audio, Volume, & Multimedia Controls
    - Home Theatre System Controls
    - Touchscreens and Keypads
  - Other Controls
    - Smart Meters
    - Smart Plugs
    - Smart Hubs
    - Smart Locks
    - Smoke Detectors

Segmentation by Software & Algorithm

Behavioural
Proactive

Segmentation by Region

Asia Pacific
- China
- Japan
- India
- Rest of APAC
North America
- United States of America
- Canada
Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE

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