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The global home automation & controls market is estimated to have reached a value of around $19.15 billion at the end of 2012, and is forecast to grow to a total of $48.01 billion by the end of 2018. This suggests a CAGR growth rate of 16.9% between 2013 and 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.
Initialized with wired technologies, home automation and controls market has entered the era of wireless technologies, today. The wireless technologies have further increased the deployment of automation controls in the market; especially, in retrofit houses as they avoid reconstruction or renovations of the buildings.
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