Almost 17% CAGR growth forecast in global home automation industry between 2012-18
Home Automation & Controls Market: 2013-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-20 22:53:01
The value of home automation &; controls market was worth $19.15 billion in 2012, and is expected to reach $48.02 billion by 2018, at an estimated CAGR of 16.9% from 2013 to 2018.Even though the concept of home automation has been in existence for a long time, the market has witnessed profound growth, mainly, during the last five years. The stringent regulations being imposed by the governments, augmented by the increasing home owners´ need to save costs, are the primary factors contributing to the growth of this market. The growing awareness about wireless technologies and the developments towards the integration of wired and wireless technologies will propel this market, further, in the future.The lighting controls regulate and save power through devices such as dimming systems and sensors. Among all the products, HVAC controls is the most mature market segment followed by the security and access controls market; thanks to the increasing concerns for safety and security. Home automation has dominated the overall automation and controls market due to the early adoption of control products in this segment.
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