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

  • Rexel Announces Changes to Group Executive Committee

    Rexel Announces Changes to Group Executive Committee

    December 1, 2023 Rexel today announced the appointment of Roger Little as Chief Executive Officer (CEO) for the USA and leader of the USA-Canada cluster, effective December 18, 2023. Roger Little has been CEO of Rexel Canada since March 2014 and will succeed Brad Paulsen as CEO of Rexel USA as Mr. Paulsen leaves the… Read More…

  • Hammond Power Solutions Declares Quarterly Dividend

    Hammond Power Solutions Declares Quarterly Dividend

    The Board of Directors of Hammond Power Solutions Inc. declared a quarterly cash dividend of fifteen cents ($0.15) per Class A Subordinate Voting Share of HPS and a quarterly cash dividend of fifteen cents ($0.15) per Class B Common Share of HPS payable on December 15, 2023, to shareholders of record at the close of… Read More…

Peers & Profiles

  • Graybar Canada’s Customer Appreciation BBQ’s

    Graybar Canada’s Customer Appreciation BBQ’s

    Taken from Graybar Canada Linkedin Post Enjoy a glimpse of the wonderful moments from Graybar Canada’s recent customer appreciation BBQs! The company was grateful for the smiles and connections made with our amazing customers and vendors. They are looking forward to the next gathering! Source Read More…

  • Electrozad Chatham Kent Branch Exceptional Effort Cleans Up Community

    Electrozad Chatham Kent Branch Exceptional Effort Cleans Up Community

    Article taken from Linkedin Post Electrozad is thrilled to spotlight their Chatham Branch and recognize their exceptional efforts in cleaning up their community. The team took time to coordinate a community clean-up around their branch. This is a commendable initiative that not only helps maintain the cleanliness and hygiene around the branch but also contributes… Read More…

Copper US Dollar Price Per Pound