Global Home Automation Market to Reach US$2.8 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Home Automation markets. The global market for Home Automation is forecast to reach US$2.8 billion by the year 2015. Increasing importance for safety and convenience, technological advancements in home automation, and rising demand from European and other emerging countries are the major factors driving growth in the home automation market.

Home Automation: A Global Strategic Business Report

Global economic recession and sharp drop in real estate market impacted the home automation sector in 2009. The luxury category, a mature segment of the market comprising solutions worth over $50,000, received the maximum impact of the turmoil. However, the market is likely to witness growth in the year 2010. The relatively new segments of the market including home automation as a service, and standards-based conventional home automation systems are likely to expand rapidly during 2010 irrespective of the pace of the economic recovery. Additionally, the DIY home automation segment is expected to exhibit robust growth.

North America represents the largest market for home automation worldwide, as stated by the new market research report on Home Automation. Demand for home automation products in the region considerably weakened during the period 2007-2009 owing to slump in construction activity and the economic crisis. However, with the recovery of the economic situation and expected improvement in construction activity, the North American home automation market is expected to register growth. Entertainment & Integrated Controls represents the largest as well as fastest growing functional area for home automation in North America. Security Controls constitutes the other major functional area for home automation in North America.

Europe represents the fastest growing regional market for home automation worldwide and is poised to register a CAGR of more than 10% over the analysis period. On the other hand, barring few countries such as Japan and Australia, the rest of world market for home automation is lagging far behind in terms of commercialization efforts and technological developments. High price is a major factor that keeps many small and developing countries away from the home automation technology. However the rest of world market, owing to increasing number of countries showing interest in home automation, is witnessing steady growth.

High prices of products constitute the major problem pricking the home automation industry. As bandwidth rules the multimedia, networking technology becomes very expensive. But price itself rules the home control sector. Traditionally, home automation systems were highly priced products meant for large affluent households. But today, even high-end home automation systems are available at an affordable price, making it accessible to middle-class families also. Set-up and installation charges that are usually site-dependent and customer-specific might represent a constraint unless uniform packages are launched. The future growth of the home automation industry would rely on the capability of the suppliers to offer cheaper packages to home developers and installers. On the other hand, technological advancements represent one of the key trends driving the home automation market. Novel wireless technologies such as Z-Wave and ZigBee are enabling the manufacturers of home automation systems to provide cost-efficient solutions, attracting even the lower-end consumers. The low-cost home automation systems are potentially expanding the reach and potential of the market. Further, the increasing availability of peripheral components for low-cost home automation systems is fueling the revenue growth for manufacturers.

Major players profiled in the report include AMX Corporation, ABB Ltd., Control4, Crestron Electronics Inc., GE Security, Haier Group, Home Automation Inc., Honeywell International Inc., Lightolier Controls, Lutron Electronics Inc., Schneider Electric Ltd., Siemens AG, SmartHome Controls Ltd., Smarthome Inc., Vantage Controls Inc, among others.

The report titled “Home Automation: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the home automation markets, impact of recession on the markets, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Home Automation market for the following geographic markets – North America, Europe, and Rest of World. The North American market is analyzed by functional areas, which include Lighting Controls, Security Controls, HVAC Controls and Entertainment & Integrated Controls. Also, a six-year (2001-2006) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Home_Automation_Market_Report.asp.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com/

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