Home Automation Market size was worth USD 40.8 billion in 2021, so it is estimated to reach USD 63.2 billion by 2026, growing at a CAGR of 9.1 % during the forecast period 2021-2026.

Home Automation System is most commonly refers to the automatic and electronic control of household features, activity, and appliances. In simple terms, it means you can easily control the utilities and features of your home via the Internet to make life more convenient and secure, and even spend less on household bill; these are the main factors that have considerably increased the demand for the Home Automation System in the market, thereby driving the huge growth of the Home Automation System market in the upcoming years

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Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Home Automation System in the market is mainly due to the huge rise in awareness for efficient energy usage, increase in electricity prices, and technological advancements are expected to drive the home automation market growth, in addition rise in safety & security concerns fuelled the adoption of home automation system, thus boosting the market growth, and also rise in importance of home monitoring from remote locations, rise in consumer awareness related to availability of smart home devices such as automated security & lighting systems, and stringent government regulations; these are the main factors that have considerably increased the demand for the Home Automation System in the market, thereby driving the huge growth of the Home Automation System market in the upcoming years

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Report is segmented as:

Home Automation System Market is segmented on the basis of by technology; Home Automation System Market is segmented on the basis of by product:

* Home Automation System Market is segmented on the basis of by technology into Network and Wireless
* Home Automation System Market is segmented on the basis of by product into Lighting, Security and Access Control, HVAC and Entertainment Control
Geographical Segmentation:

Home Automation System Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Home Automation System is due to the rise in consumer awareness related to availability of smart home devices these are the main factors that have considerably increased the demand for the Home Automation System in the North America region, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Home Automation System Market

Impact of COVID-19 on Market

Covid -19 pandemic has affected the growth of business of every sector and it also affected the growth of the Home Automation System market, and temporary lack of growth in export and import activities, which has impacted the rays of Home Automation System market growth. Covid-19 pandemic has impacted huge on the sales revenue of Home Automation System market. Due to the government restrictions like lockdown in many countries has shutdown the commercial and industrial establishments and also stopped in transportation these made huge loss for Home Automation System market. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus.

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