Global Demand for Home Automation Market to Reach US$90 Billion by 2026

Global Demand

July 8, 2021

A new research report forecasts that between 2021 and 2026 global demand for home automation systems will have a compound annual growth rate (CAGR) of 11.5%, reaching US$90 Billion by 2026.

Home automation system refers to devices that can safely regulate and monitor a range of home appliances such as lights, climate, and entertainment systems to name a few. The latest version of these systems further possesses the ability to control the alarm systems and control systems of the house.

The primary driving factors of the global home automation market are the growing popularity of the internet of things and the increased prevalence of consumers possessing elegant and luxurious appliances. Moreover, rising consumer spending and an increase in per capita income among consumers will further drive the growth of the global home automation market during the forecast.

Published by Facts and Factors, [IT]Home Automation Market By Management (On-premises & Cloud-Based), By Application (Lighting Control, Security & Access Control, HVAC Control, Entertainment Control, & Others), By Software and Algorithm (Behavioral & Proactive), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026[IT] suggests that strategic adoption of brand placement with celebrities and brands and increased marketing budgets among manufacturers will further enable a rise in revenue opportunities for the global home automation market during the forecast. The rising penetration of cloud-based solutions and rising smart homes among various regions will further increase the footprint of the global home automation market during the forecast. Prebuilt provisions for easy integration of these applications will further boost the growth of the global home automation market during the forecast.

Find out more about the report.

Photo: Mahrous Houses on Unsplash https://unsplash.com/

Related Articles

Changing Scene

  • EHRC Bursaries for Women Entering the Electricity Industry

    EHRC Bursaries for Women Entering the Electricity Industry

    Year after year, the data consistently shows that men outnumber women in technology, engineering, and trades jobs in Canada’s electricity industry. As the industry evolves to meet climate change goals and ensure a clean, resilient energy future, there is a real opportunity – and need – to include more women in the sector. In 2023, and in honour of International Women’s Day, EHRC’s board of directors and staff announced the creation of two new $2,000 bursaries for women entering or currently enrolled in a trades or STEM (science, technology, engineering and math) program. Read More…

  • ECAO Launching New Website for Buying/Selling Excess Inventory

    ECAO Launching New Website for Buying/Selling Excess Inventory

    ECAO has announced they will be unveiling ECAO Marketplace, a new website to be introduced at their AGM on June 2nd that will facilitate buying and selling of excess inventory. Read More…

Peers & Profiles

  • Corporate Knights Names Schneider Electric Canada’s Top International Corporate Citizen

    Corporate Knights Names Schneider Electric Canada’s Top International Corporate Citizen

    Schneider Electric, a leader in the digital transformation of energy management and automation, is Canada’s top international corporate citizen in 2022. This designation was awarded to Schneider Electric by Corporate Knights, a media and research company committed to advancing a sustainable economy. Read More…

  • Sonepar Ontario Region Relocations SESCO CDC

    Sonepar Ontario Region Relocations SESCO CDC

    The Sonepar Ontario Region is proud to announce the relocation of their SESCO Central Distribution Centre (CDC) to its new location in Brampton, ON. This move has facilitated an amalgamation between Texcan’s large Brampton branch and SESCO’s CDC, as both businesses work together within one facility for the first time. Read More…

Copper US Dollar Price Per Pound