Industrial, Manufacturing & Heavy Industry Market News

The global home automation market is expected to reach $75.2 billion by 2022 according to new research report

Lucintel anticipates that Asia Pacific will be the fastest growing region in the home automation market


According to a new market report published by Lucintel, the future of the home automation market looks attractive with opportunities in the safety and security, HVAC, entertainment, and lighting control applications. The global home automation market is expected to reach an estimated $75.2 billion by 2022 with a CAGR of 11.4% from 2017 to 2022.

The major growth drivers for this market are increasing consumer need for simplicity and a personalized experience, growing awareness related to safety and security, and the adaption of cloud-based technologies.

North America is expected to remain the largest region during the forecast period due to the increasing usage of technologies and digitalization in the US and Canada.