Report Overview
Home automation utilizes Internet of Things (IoT) technology, enabling devices to communicate with one another and be accessed via smartphones, tablets, voice assistants (such as Alexa or Google Assistant), or centralized home hubs. For example, smart thermostats like Nest can learn a user's schedule and adjust the temperature accordingly, while smart locks provide keyless entry and remote access control.
As smart technology becomes more affordable and widely accepted, the home automation industry is becoming an integral part of modern living, particularly in urban households.
Market Analysis
The global Smart Home Automation Market has witnessed significant growth in recent years and is expected to continue this upward trend. As of 2023, the market was valued at USD 9,871.80 million.
With the integration of IoT technologies and increasing consumer demand for automated living, the market is projected to reach USD 17,399.74 million by 2032, growing at a CAGR of 6.50% during the forecast period.
