The home automation market
unarguably is in constant state of evolution. The growth trajectories
seemingly ride on the back of rapid digital integration in consumer
products. The troika of convenience, comfort, and control is a
compelling proposition driving the vast assortment of home automation
products. Increasing affordability over time has one of the primary
drivers for mainstreaming of smart homes technologies among homeowners
in various regions across the globe. In recent years, growing popularity
of voice control solutions is a case in point.
The prospects are vast.
As a study by Transparency Market Research puts it, the global home
automation market will clock a worth of US$ 116.26 Bn by 2026 end. One
of the central facets of adoption of home automation products is high
level of security and safety they provide from across the world. In all
these, internet of things technology (IoT) has played unparalleled role
in setting connected homes.
Advances in Home Connectivity Technologies underlie New Frontiers for Manufacturers
Considerable advances in
artificial intelligence have bolstered the capabilities of these
devices, unlocking promising prospects. Furthermore, constant upgrades
in home connected devices have undoubtedly expanded the potential of
home automation technologies.
Several trends underlie
the rising attractiveness of a slew of home automation devices
especially in developed countries. Unprecedented advances in the market
relate especially to connectivity technologies. Furthermore, a slew of
home automation systems are characterized by advanced electronics,
advanced monitoring technologies, and imaging systems. Moreover,
developments in the home automation market is notably marked by rising
usage of products for home security.
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On the regional front, a
number of developing and developed regions are expected to be
potentially lucrative markets for home automation. In particular, Asia
Pacific has shown unprecedented growth prospect in recent years. A
factor behind this can be growing adoption of home automation for video
surveillance services. Moreover, HVAC and lighting systems equipped with
automation are gaining currency into the smart home landscape.
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