Home Automation Market to Witness Robust Growth and Reach $2.4 Billion by 2010, According to New Report by Global Industry Analysts, Inc.

Share Article

Buoyed by the rising consideration for convenience, security and energy conservation among the world population, home automation is coming to the fore as major home technology. Global home automation market continues to witness robust growth and is on course to touch US$2.4 billion by 2010.

Over the years, there has been lot of technological developments taking place around the world and home automation is one among them that is changing the way people used to spend time in their homes. Given the increase in population, rising per capita income and elevated standards of living, it is little surprise that the demand for home automation is also on the rise. With home automation, home-life becomes more convenient and luxurious just by the touch of a button. In today's fast moving world, individuals are forced to lead a busy lifestyle, leaving little time for daily household chores. People generally tend to miss out on simple day-to-day tasks such as turning off lights and fans, lowering thermostat level and activating security system. Thus, busy homeowners yearn for a simple yet powerful system to take charge of the entire home and by automating various home appliances. A home automation system or home control system is one such system available in the present day, which ties up all the individual gadgets and provides the residents with all the benefits of an automated house.

World home automation market is expected to witness robust growth and reach US$2.4 billion by 2010, as stated by Global Industry Analysts, Inc. The strengthening of existing markets in Europe and the emergence of new markets in Asia, South America and Africa is set to sustain the growth momentum over the next five years. Housing slump in the US is expected to hinder market growth of home automation in North America in the near term.

One of the key issues to be addressed by the market is cost. 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.

Recent technological developments have resulted in widespread availability of wireless systems in the home automation market. Hardwired systems work through combination of switches, controllers, along with complicated wiring networks. In comparison to wired systems, wireless systems make the use of commands that are sent either through radio or power line carrier.

Currently, there are three major technologies - Zensys' Z-wave, SmartLabs' Insteon and ZigBee - competing with each other for an industry share in the wireless home automation space. Insteon is a proprietary combination of wired and wireless dual mesh technology that sends signals through RF (radio frequency) transmissions and over the home electrical wires. Zensys' Z-wave technology is also a wireless mesh networking technology. ZigBee is an open standard networking technology based on IEEE 802.15.4 (a wireless personal area network standard), developed by the Zigbee alliance, a California-based association comprising many technology companies.

Leading players in the worldwide home automation market include Ameba Group, AMX Corporation, ABB, Clipsal Australia, Control4, Creston Electronics, Gewa AB, Home Automation, Haier Group, Honeywell International, Home Technologies, Lightolier Controls, Lite Touch, Lutron Electronics, Monster Cable Products, Schneider Electric, Secant Home Automation, Siemens AG, Smartkontrols, SkyNetGlobal, Smarthome, TAC, Teletask, Vantage Controls, VITY Technology, and White-Rodgers.

For more details about this 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 more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 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@StrategyR.com
Web Site http://www.StrategyR.com


Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website