The US Market for Home Automation and Security Technologies - GlobeNewswire

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New York, May 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "The U.S. Market for Home Automation and Security Technologies" - https://www.reportlinker.com/p02720120/?utm_source=GNW

- Energy management controls.
- Entertainment controls.
- Security controls.
- Integrated (i.e., multifunction) controls.

The study addresses the major enabling technologies for the various types of home automation products, such as -
- Controllers.
- User interface devices.
- Sensors.
- Actuators and output devices (e.g., dimmers, automated window coverings, dampers).
- Wiring and networking devices.

The study format includes the following major elements -
- Executive summary.
- Definitions.
- Home automation functions.
- Enabling technologies.
- Market environment (e.g., economic conditions, consumer attitudes).
- Current (2020) and projected markets for home automation technologies and products through 2026.
- Developers and suppliers of home automation products.
- Key patents.
- The report focuses on the U.S. market.

Report Includes
- 24 tables
- An overview of the U.S. market for home automation and security technologies
- Estimation of the market size and analyses of market trends, with data from 2020, estimates for 2021, 2023 and projection of CAGR through 2026
- Evaluation of market size and forecast, and detailed analysis of drivers, challenges, and opportunities affecting market growth
- Explanation of home automation functions and enabling technologies for home automation, and description of controllers along with comparison between hardware-based controllers and software-based controllers
- Description of small stand-alone devices and complex smart home networks, and discussion on their ability to tie numerous electric devices located around the house to a programmable computer brain
- Details about devices and technologies of automated energy management systems and information on wireless technologies such as ZigBee, Z-Wave, Wi-Fi and INSTEON
- Market share analysis of the key companies of the industry and comprehensive company profiles of major players including Powerline Control Systems Inc., Echelon Corp., General Electric Co., Microsoft Corp., and Honeywell International Inc.

Summary
The broadest definition of home automation includes any device that provides remote or automatic control of electric or other energy-consuming devices around the home. Thus, home automation devices range from small stand-alone devices that control a single unit to complex smart home networks that link several electric devices in the home to a central, programmable computer brain.

Most U.S. consumers implement home automation solutions for their ease of use, affordability, features offered, security and energy management. Millennials perhaps represent the most tech-savvy of consumers. These consumers are willing to pay for innovation that supports their need for convenience and staying connected. Also, millennials as home buyers seek flexibility in home ownership, another key factor that is driving the market for U.S. home automation and security technologies.

Consumers of home automation solutions seek the following -
- Smoke and carbon monoxide detectors to protect against fire and carbon monoxide.
- Flood sensors to protect against potential water damage.
- Door sensors and glass-break break sensors to notify homeowners of attempted forced entry.
- Indoor and outdoor security cameras to monitor homes, view video footage, and be notified of suspicious activity.
- 24/7 monitoring to assist in an emergency or crisis, keeping the home and the people safe and protected.

According to NAHB’s 2021, buyers continue to value home technology that makes them feel safer and more comfortable in their homes. Most users prefer programmable thermostats, rating this feature as "essential" or "desirable." Other popular features included security cameras, video doorbells, wireless home security systems, and multi-zone HVAC systems, among others.

Companies such as Google and Comcast are moving more aggressively to capture a share of the home automation market. The home automation market in U.S. is very competitive, the players are constantly and aggressively developing solutions to suit the user needs. The players are adopting various strategies such as mergers and acquisitions, partnerships, product development and launch, among others to sustain and grow in the market. For example, in January 2020, Vivint Smart Home, Inc. and Mosaic Acquisition Corp. entered a merger that resulted in Vivint becoming a publicly traded company.

The top priority for the businesses is to safeguard consumer and workers health.Partial or full plant closures could continue for manufacturers in regions that have been hard-hit for extended periods.

COVID-19 has impacted nearly all regions, but especially in the U.S., which has experienced a sharp increase in diagnosed cases. COVID-19 has critically impacted nearly all global industries, which includes the market for U.S. Home Automation and Security Technologies.

The COVID-19 pandemic has substantially impacted the residential real estate market in the U.S. Despite the economy’s recovery, increased unemployment and economic uncertainty may continue to affect the housing market through 2020 and beyond. The pandemic’s impact on the U.S. housing market significantly affected the market of home automation and security technologies in 2020.
Read the full report: https://www.reportlinker.com/p02720120/?utm_source=GNW

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