Join date: Nov 26, 2021


Global Home Automation Market size was valued at $39,607 million in 2016 and is projected to reach $81,645 million by 2023, growing at a CAGR of 11.2% from 2017 to 2023. Home automation is the utilization of intelligent terminals, which is an automation system to control home appliances and equipment. An increase in awareness for efficient energy usage, a rise in electricity prices, and technological advancements are expected to drive the home automation market growth. Moreover, an increase in safety & security concerns fueled the adoption of home automation systems, thus boosting the market growth. However, a lack of awareness about home automation products and high initial investments in home automation are expected to hamper the home automation market growth. An increase in the adoption of automated services is expected to provide lucrative opportunities for the global home automation market.


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