Research Nester published a report titled “Home Automation Sensors Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalhome automation sensors market in terms of market segmentation by product type, application, technology, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global home automation sensors market is estimated to gather a notable revenue by growing at a CAGR of ~12% during the forecast period, i.e., 2022 – 2030, owing to the growing adoption of IoT in developed and developing regions, and rising importance of home monitoring in remote locations. Apart from these, increasing disposable income, and rapid proliferation of smart gadgets and smartphones are also expected to drive market growth in the coming years.
The market is segmented by product type, application and technology. Based on product type, the luxury segment is anticipated to grab the largest market share during the forecast period in view of the growing consumer interest in leading a luxurious lifestyle. Additionally, by application, the lighting segment is projected to gather the largest share over the forecast period ascribing to the growing emphasis on reducing energy consumption by lighting products.
Geographically, the global home automation sensors market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to grab the largest share in the market during the forecast period attributing to the rising implementation of AI and IoT solutions in the region. Moreover, the market in Asia Pacific is assessed to witness noteworthy growth rate in the future owing to the escalating use of sensors in smartphones, healthcare and automobiles in the region.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Adoption of Internet of Things in Developed and Developing Regions to Expand Market
Over the last few years, there is a surge in mergers between key players and IT companies all around the world to develop and deploy solutions based on internet of things and AI, home automation being one of them. Rising integration of security systems, temperature controlling and electronic doors with these technologies to offer a luxurious lifestyle is assessed to largely drive market growth in the near future.
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However, technological breaches regarding home automation sensors are expected to operate as key restraint to the growth of the global home automation sensors market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global home automation sensors market which includes company profiling of Honeywell International, Inc., Ingersoll-Rand PLC, Emerson Electric Co., ABB Ltd., Schneider Electric S.A, Crestron Electronics Inc., Tyco International Ltd., Nortek Inc., Legrand S.A., Lutron Electronics, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global home automation sensors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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