Home Automation Systems global revenue may approach $12 Bil by 2015
According to ABI Research, the home automation market is approaching an inflection point beyond which its growth rate will increase significantly.
SCOTTSDALE, Ariz. - Revenue from shipments of home automation systems will exceed $11.8 billion in 2015, according to a new study released by ABI Research. That number includes all four categories of home automation: Luxury, Mainstream, DIY and Managed. The luxury segment will deliver the greatest revenue.
In addition to quantitative market measurement, ABI Research also sampled US consumers’ attitudes with a September 2009 survey. Nearly half of the 1001 respondents did not know what “home automation” is. A further 43% understood the concept but had no system installed.
According to practice director Sam Lucero, “Our survey results show that a major challenge is simply lack of awareness on the part of mainstream consumers. Other issues for consumers were the expense, and a perceived lack of need for home automation.”
Nonetheless, Lucero believes that for several reasons the home automation market is approaching an inflection point beyond which its growth rate will increase significantly.
· Vendors are taking advantage of standards-based wireless and powerline technologies to drive down costs and expand the addressable market.
· Companies in related home systems markets are increasingly targeting home control and monitoring functionality in their devices.
· Home security service providers view home monitoring and managed home automation services as a means of accelerating growth.
· Telco and cable broadband service providers see managed home automation services as a way to increase revenue.
· Utilities can use home automation technologies to help homeowners reduce power usage.
How do these drivers mesh with consumers’ intentions? An average of three quarters of the 39% of survey respondents who intend buy a home automation system within three years rated three functions as the ones they would expect to use most: energy management, home control, and security. Sam Lucero concludes, “The home automation market is clearly at an inflection point and poised for significant growth over the next few years.”
ABI Research’s “Home Automation and Control” study provides qualitative and quantitative analysis of home automation and control system markets through 2015. The data and forecasts are divided by region and by major market segments.
For more information, visit www.abiresearch.com.