Albany, New York, USA (PRWEB) November 12, 2013
This report analyzes Home Automation (HA) Market on a global level, with further breakdown into various sub-segments. It provides cross sectional analysis of the market for home automation systems based on parameters such as geography, system type, applications, and networking technology. The analysis covers the market estimates in terms of revenue and forecast for the period 2013 – 2019. The market is going through a growth phase marked with complexity and immaturity. There are variations in growth pattern across different geographies.
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These variations exist in terms of technologies used and applications preferred. This report is thereby produced to give a detailed overview of the ongoing trends in the market. It includes review of market dynamics with focus on market drivers, growth challenges (restraints), and opportunities. The value chain analysis and Porter’s five forces analysis included in the report further helps in assessing the market situation and competitiveness. Market attractiveness analysis highlights key segments of the market and their comparative attractiveness against other segments.
Apart from the detailed sub-segment analysis as shared below, this report also provides company profiles of the key players in the global market. The competitive profiling of these players includes company and financial overview, business strategies adopted by them, and their recent developments which can help in assessing competition in the market. Some of the major companies included in this report include Crestron Electronics, Inc.; AMX LLC; Control4 Corporation; Honeywell International, Inc.; Johnson Controls, Inc.; Siemens AG; Nortek, Inc.; Schneider Electric SA; iControl Networks, Inc., 2GIG Technologies, and Vantage Controls, among others.
Global home automation market valued at USD 3.6 billion in 2012 is expected to see a strong growth at 24.5% CAGR during 2013 to 2019 period. Currently, the market is at a point of inflection and is characterized by following aspects: complexity of solutions, high level of inter and intra industry competition, large number of networking technologies, multiple and incompatible standards, and sub-sequent high priced products. The underlying demand for a universal solution, which is easy to install, works across multiple platforms, can be integrated with other automation sub-systems in a home, and is priced competitively, is expected to help the market turn into a mass (mainstream) market from a luxury dominated market.
Global home automation market which till now saw revenue coming from systems considered as luxury is gradually witnessing a shift towards systems made for mass adoption. Entry of players such as telcos, broadband connectivity providers, utilities, cable operators, and others from different industrial vectors is expected to fuel this transition. This has induced trend across players who catered to luxury segment and are now developing solutions for mainstream market. As a result, luxury segment is expected to give way to managed automation services and mainstream solutions. Both these segments are expected to collectively account for 71.0% of the global market by 2019, a rise of 27.5% from that in 2012.
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Entertainment segment which was a dominant market in the early stage is now surpassed by safety and security segment, which is expected to remain as largest market throughout the forecast period. This is largely attributable to growing consumer concern for safety owing to a rise in criminal activities. Moreover, with economic slowdown globally affecting consumer spending on luxury things, scope for growth of cost saving applications such as HVAC and energy management is alleviated, resulting in these segments too showing healthy growth signs. Subsequently, emergence of new applications such as home healthcare monitoring and home robotics too is expected to increase by the end of forecast period.