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Home Automation Market size worth $ 97.06 Billion, Globally, by 2028 at 10.42% CAGR: Verified Market Research® – PR Newswire UK

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11 Jan, 2022, 16:15 GMT
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Speedy development and growth in the popularity of Artificial intelligence, accelerated adoption of newer technology, and the rapid rise in the collection of data from users by several organizations are some of the factors that will boost the market
Jersey City, N.J., Jan. 11, 2022 /PRNewswire/ — Verified Market Research recently published a report, "Home Automation Market" By Type (Luxury Home Automation System, Mainstream Home Automation System), By Product (Lighting Control, Security And Access Control), By Networking Technology (Wired Home Automation System, Wireless Home Automation System), and By Geography. According to Verified Market Research, the Global Home Automation Market size was valued at USD 44.68 Billion in 2020 and is projected to reach USD 97.06 Billion by 2028, growing at a CAGR of 10.42% from 2021 to 2028.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=34172
Browse in-depth TOC on "Home Automation Market"
202 – Pages
126 – Tables
37 – Figures
Global Home Automation Market Overview
Rapid development and growth in the popularity of Artificial intelligence, rapid adoption of newer technology by the masses, and the rapid development of IoT are anticipated to drive the market. With IoT, any device can be connected to the internet. For instance, a smart light bulb can be turned on and off via an app. Each home automation devices are IoT devices, which can be automated to trigger one another. Hence, while IoT refers to the devices themselves, home automation along with IoT is making consumers’ life just a tad bit easier. Besides, there has been notable growth and development in the Artificial Intelligence field in current times. Various major key players are reinvesting in research and development to bring forth innovations in the existing product. In addition, the rise in disposable income of consumers has led to a demand for a comfortable and better lifestyle.
There have been increasing preferences for an elegant and luxurious lifestyle in emerging countries which is also encouraging the growth of the market. Some of the key players in the market are making conscious efforts for product development by developing strategic associations and collaborations and promoting new technically advanced products. The increasing awareness for efficient energy usage and technological advancements are anticipated to fuel the market further. Thus, all the foregoing factors are anticipated to stimulate the market and act as growth propellers.
Key Developments
Key Players
The major players in the market are Resideo, Legrand, Schneider Electric, Johnson Controls, Siemens, Ingersoll Rand, ABB, Leviton Manufacturing Company, Control4, and Crestron Electronics, Inc.
Verified Market Research has segmented the Global Home Automation Market On the basis of Type, Product, Networking Technology, and Geography.
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Top 10 Smart Home Companies offering fine living experience through complete home solutions
Visualize Home Automation Market using Verified Market Intelligence:-:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
About Us
Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SME’s offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.
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SOURCE Verified Market Research
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