Home Automation Market was valued at US$ 40.10 billion in 2017 and is expected to grow to US$ 113.82 billion by 2025 at a CAGR of 13.93%

Home Automation Market offers high-end solutions and employs cutting-edge digital technology to make the operation of various household appliances more convenient. When automating the home or any domestic operations, it improves efficiency and performance. Home automation refers to the automatic control of all electrical devices in a home, as well as the ability to control them remotely via a wireless connection. Consumers are increasingly demanding customization and professionally built systems that are convenient and easy to use. Home automation systems also allow for centralised control of lighting, HVAC, audio/video systems, kitchen appliances, security systems, and other in-home devices.

Furthermore, home automation allows devices to trigger one another, removing the need to manually control them via an app or voice assistant. Individuals, for example, can programme their lights to turn on/off or have their thermostats turn up the A/C before they get home from work. Home automation simplifies life while saving money on utility costs such as heating, cooling, and electricity. With Internet of Things devices such as security cameras and systems, home automation can also lead to increased safety. These factors are propelling the home automation market forward.

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The home automation market is being driven by increased demand for energy-efficient solutions, significant growth in the IoT market, convenience and ease of use, technological advancements, increased smartphone users, and heightened security concerns. Because of the high cost of automated homes, as well as a lack of awareness in some developing and underdeveloped countries. Because of an increase in the use of automated services and government incentives for green initiatives, the growth of the home automation market is opportunistic. Furthermore, the demand for energy-efficient solutions, as well as an increase in demand for home safety and security, are expected to drive the growth of the home automation market.

Home automation is no longer a pipe dream, thanks to rapid technological advancement around the world. This is primarily due to cash inflows into the market by investors and service providers. After major brands such as Honeywell and Vivint explored the opportunities afforded by home automation and initiated notable capitalization in the home automation market, the market received significant attention from the industries. However, there are now several brands in the home automation market that have heavily invested their resources in rapidly improving home automation systems and also promoting these systems to attract potential customers.

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