Home automation solutions are being increasingly in demand across the world and by consumers across multiple economic classes. The overall demand for home automation is far stronger in developed economies than emerging ones. Nations from Latin America and Asia Pacific are not showing any signs of slowing down their demand growth rate, however, as consumers, companies, services, and solutions are growing in numbers. Additionally, home automation systems have already evolved from being cutting edge, gimmicky services to complete home care and management solutions that not only help reduce a consumer’s overall power consumption, but also improve home security and safety. A consumer with home automation solutions at their disposal no longer need to worry about forgetting whether they have left the lights on when the leave their house: they can no use their smartphones to ensure that they have.
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The global home automation market has been expanding at a phenomenal CAGR of 26.3% within a forecast period from 2013 to 2020, by the end of which the market is expected to reach US$21.6 bn. The reasons for the market’s growth rate, and its scope over the coming years, can be made clearer through the answers for the following questions.
Home Automation Going to Help in Home Management
The primary factor driving the global home automation market right now is the massive surge in demand from consumers for solutions that can let them run their homes in a better, more efficient manner. The domestic applications for home automations systems are growing at a regular pace and this is visible through the large number of companies trying to stake their claim in the market’s overall revenue. Users now have a wide range of players they can choose to help improve their usage of HVAC systems, lighting, and entertainment systems.
Examples of some of the more popular home automation solutions include Amazon’s line of devices, Echo. The latest in this line of products, Echo Show, is being marketed as an alternative to the use of smartphones, computers, and tablets at home. The Echo range of products comes with Alexa, the proprietary voice assistant from Amazon, and these devices can help a user control multiple lights and other devices in the home, book a cab to go someplace, and even order goods off Amazon.com.
Home Automation Going with Energy Conservation
One of the most basic purposes of using home automation systems is to achieve a higher level of energy consumption control. Efficient home automation systems allow users to maintain a close watch on their overall energy consumption, while also providing automated solutions to control their lighting and HVAC systems to maintain the least power consumption possible.
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Partnerships are also running strong in the global home automation market. For instance, the recent alliance between Comcast and Philips can allow a user to control their Philips’ Hue Lights using the Comcast Xfinity Home app.
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