According to our latest market study on "Home Automation Market Forecast to 2028 – Global Analysis – by Product, Networking, and Geography," the market is expected to grow from US$ 40.10 billion in 2017 to reach US$ 113.82 billion by 2025; it is anticipated to grow at a CAGR of 13.93% from 2017 to 2025.
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A high rate of technology adoption is fueling the worldwide home automation industry. Due to the rapid growth of smartphone-controlled applications, the home automation market is gaining popularity. The expansion of the market is fueled by an increase in smartphone-controlled applications that allow users to monitor household appliances from afar. Increased government initiatives to build smart homes worldwide are fueling the home automation market. Alarm.com, a technology business based in the US, surveyed 1,000 American households. The poll found that about 48% of respondents were enthusiastic about smart-home solutions, while 59% were perplexed by the broad range of solutions available in the home automation market. The survey respondents prioritized the security and comfort that intelligent homes would provide, with energy savings coming in second. These factors are propelling the home automation market growth.
Johnson Controls International Plc.; Siemens AG; Legrand; Schneider Electric SE; Honeywell International Inc.; Control4 Corporation; ABB Ltd.; Crestron Electronics Inc.; Leviton Manufacturing Company, Inc.; Lutron Electronics Co., Inc.; and Ingersoll-Rand Plc. are among the key players profiled during the study of the home automation market. In addition, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the global market and its ecosystem.
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