The North America home automation systems market reached a value of US$ 12.35 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
Market Overview:
Home automation systems represent a range of integrated smart technologies that use intelligent terminals to operate various home appliances and equipment. It includes centralized lighting management, security checks/locks for house entry, and heating, ventilation, and air conditioning (HVAC) control systems. It further allows electronic device users to control, automate and manage several appliances and devices, such as lights, fans, alarm systems, and electrical outlets. Home automation systems offer centralized control, ensure minimal power consumption and enable protection for personal and commercial assets. As a result, these solutions find extensive application in residential areas, commercial buildings, and hardware infrastructures.
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Market Trends:
The increasing need for energy-efficient safety and security solutions across residential sectors to inhibit thefts and the unauthorized entrance of individuals into houses is primarily driving the home automation systems market in North America. Furthermore, the growing consumer awareness regarding the availability and benefits of home automation systems, such as convenience, appliance safety, and enhanced remote monitoring features are supplementing the usage of home automation systems. Moreover, shifting consumer preferences toward smart houses over conventional residences due to the rising disposable income are augmenting the home automation systems demand.
Besides this, rising trends of several modern renovations and redecoration and the extensive integration of artificial intelligence (AI) voice assistance, machine learning (ML), and the internet of things (IoT) solutions with internet or Bluetooth connectivity and authenticated passwords are propelling the market growth. Such technologies help in determining user habits and monitoring key areas, which is creating a positive outlook for the product.
Market Segmentation:
The report has segmented the North America home automation systems market on the basis of application, type and country.
Breakup by Application:
- Lighting Control
- Security and Access Control
- HVAC Control
- Entertainment
- Others
Breakup by Type:
- Luxury (Custom) Home Automation Systems
- Mainstream Home Automation Systems
- DIY (Do-it-yourself) Home Automation Systems
- Managed Home Automation Systems
Breakup by Country:
- United States
- Canada
- Mexico
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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