The home automation market was valued at $57.7bn in 2024 and is projected to reach $73.5bn by 2029, at a CAGR of 5%, according to Research & Markets.

Concerns about safety, security and convenience among the general population is driving the growth of the security and access control products. Whereas vulnerability to cyber attacks is restraining the growth of the market.

The security and access control segment is projected to see the highest CAGR during the forecast period. A key benefits of home automation in security is the ability to monitor and control various aspects of the home remotely. Home automation remote control allows homeowners to protect their property from threats, and prevent burglars when they are not around. Also, home automation deals with access control devices including smart locks and video doorbells to make the home safer and more comfortable.

The proactive system type is expected to have the second highest CAGR during the forecast period. Proactive home automation devices are poised for increased demand in the near future as consumers become more aware of the convenience, energy efficiency and security these systems offer. These devices are not limited to raw actions by users but rather automatically learn users’ behaviour, making changes when it considers that changes are necessary without users’ instructions or requests. As the integration of AI and machine learning increases with home automation devices, preventive home automation will adapt and enhance the use of heat, cool and light controls to the preference of the user while saving costs.

The market in North America is expected to witness the highest CAGR during the forecast period. Promoting energy efficiency and sustainability is on the rise as the costs of energy increase and as awareness of the impacts of energy on the environment grows. Smart thermostats, automated lighting systems and energy-tracking devices enable the user to control energy expenses and decrease carbon dioxide discharge.

Governments and utility companies in North America are also offering incentives and rebates for the energy efficient home automation products thus boosting they uptake. Green homes and smart cities are becoming the new norms and are gradually integrating home automation into the mainstream architectural and construction agenda of the region.

The home automation system market is dominated by a few globally established players such as Johnson Controls, Honeywell, Schneider Electric, Siemens, Assa Abloy, Apple, Bosc, ABB, Legrand, ADT and Resideo Technologies. The study includes an in-depth competitive analysis of these players in the home automation system market, with their company profiles, recent developments and key market strategies.

More information on the report can be found at www.researchandmarkets.com/report/home-automation.