Rapid Development of Smartphone-controlled Applications Fuel Global Home automation Market

Home automation market is gaining traction in many countries these days, thanks to growing customer preference home automation services due to its affordability, enhanced security solutions, convenience, and energy saving features. The demands becoming increasingly popular owing to rapid development in the smartphone-controlled applications.

United Technologies Corporation, Honeywell International Inc., and Cisco Systems, Inc., Siemens AG, and Ingersoll-Rand PLCare among the key market players of the global home automation market.

Transparency Market Research (TMR) following extensive research has prepared the report on the global home automation market. Analysts at TMR predict that the market is likely to exhibit a growth rate of 6.8% CAGR during the review period, from 2018 to 2026. Riding high on the back of various growth factors, the market is estimated to reach a valuation of US$116.26Bnby 2026-end.

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North America to Remain the Leading Region due to Demand for Better Security Levels

From the regional standpoint, North America accounted for a prominent share of the global home automation market. Increasing demand for improved home security levels, rising popularity of various gadgets with home automation solutions are addng impetus to the market. Besides, the demand for reliable home energy management systems are accelerating demand for home automation solutions in the region. In addition to that, presence of several leading key players such as Cisco Systems, Inc., Honeywell International Inc., and United Technologies Corporation is also one of the reasons for growth of the regional home automation market.