Report: Global Home Automation Market to Grow 24.5% Annually
New research says the market was worth $3.6 billion in 2012 with continued strong growth projected through 2019.
NEW YORK -The global home automation market is projected to grow at a rate of 24.5% CAGR through 2019, according to a new report released by Transparency Market Research. In 2012, the home automation market was worth $3.6 billion, the firm estimates.
North America is the largest market for home automation systems and is expected to remain so with the United States growing as the single largest market during the forecast period, 2013-2019. During 2012, U.S.’s revenue share was reported at 40.7%. Other countries such as Germany, China, India and Australia are considered as high potential market by many industry players.
Titled “Home Automation Market: Industry, Analysis, Size, Share, Growth, Trends and Forecast,” the report analyzes the marketplace on a global level. It provides cross sectional analysis of the market for home automation systems based on parameters such as geography, system type, applications and networking technology.
Among the major companies included in the report: Crestron Electronics; Control4; Honeywell; Johnson Controls; Siemens; Nortek; Schneider Electric; iControl Networks; 2GIG; and Vantage Controls.
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