Global Smart Home Automation Market 2024-2028

Global Smart Home Automation Market 2024-2028
The smart home automation market is forecasted to grow by USD 179037.6 mn during 2023-2028, accelerating at a CAGR of 26.23% during the forecast period. The report on the smart home automation market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased reliance on wireless technologies, increasing demand for home security and monitoring system, and availability of affordable retrofit smart home devices.

Technavio's smart home automation market is segmented as below:

By TechnologyHybridWirelessWiredBy ComponentHardwareSoftwareServicesBy Geographical LandscapeNorth AmericaEuropeAPACSouth AmericaMiddle East and AfricaThis study identifies the rise in adoption of cloud-based technologies as one of the prime reasons driving the smart home automation market growth during the next few years. Also, growing adoption of voice assistants and smart speakers and growing homeownership among millennials worldwide will lead to sizable demand in the market.

The report on the smart home automation market covers the following areas:Smart home automation market sizingSmart home automation market forecastSmart home automation market industry analysisThe robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart home automation market vendors that include ABB Ltd., Allegion Public Ltd. Co., Alphabet Inc., Amazon.com Inc., Comcast Corp., Crestron Electronics Inc., Honeywell International Inc., Hubbell Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Legrand SA, Leviton Manufacturing Co. Inc., LG Corp., Lutron Electronics Co. Inc., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schneider Electric SE, Siemens AG, and Snap One LLC. Also, the smart home automation market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.