Why Home Automation is Big Business
In the next six years the global home automation market is expected to worth over US$16 Billion, this is according to a report from Transparency Market Research. Competition is growing between broadband service providers, telcos and utilities where different parties are offering packaged/bundled services. North America is expected to remain the most valued market, with safety and security as the preferred product followed by energy management.
For the six years (2013 - 2019), Transparency is expecting a CAGR of 24.6%. 35% of the current market is shared among key players such as Control4, ADT, Crestron and AMX. Other key participants include ABB, Schneider Electric SA, Nortek, Lutron Electronics Company, Vantage Controls, SoftAtHome and LivingTech.
The solutions drawing most of the spend are safety and security solutions and Energy management and HVAC automation. According to the report, the deployment of smart meters and need to curb household energy bills is further expected to drive the demand for such systems, especially in Europe and North America, which are at the forefront of smart meter installation.
Within the networking category, wireless system revenue contribution is expected to increase with the growth of alliances such as Zigbee, Z-Wave, and KNX to account for more than half the market share. “However, with the potential entry of Wi-Fi Direct and its possible adoption by Apple may disrupt expected market gains by other wireless technologies in the market. This is even expected to bring DIY type of automation solutions to the forefront of the home automation market.”
The report is published by Transparency Market Research and titled: “Home Automation Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019,”