Unambiguous business models, frequent innovations on Internet of Things, cloud services, Big Data platforms, rise of connected devices, and dependency on technology are some of the drivers propelling double-digit growth in the European home automation market. Frost & Sullivan's research, European Home Automation Systems Market, Forecast to 2022, finds that the total European home automation market is estimated to reach $806.1 million by 2022, recording a compound annual growth rate (CAGR) of 15.8%.
Products and services associated with home automation and smart and connected homes have changed the consumer's perception of technological innovation. They are being remodelled into a connected and personalised ecosystem of services. Home automation systems (HAS) and solutions have created a home environment whereby seamless experiences and high comfort levels can be achieved, especially in the 'luxury' end of the market. Connectivity and response from establishing user-interactive features are becoming high-impact trends, accelerating growth and attracting new entrants with continuous innovation.
The study describes how the Internet of Things (IoT) has influenced technologies such as near-field communication, wearable technology, smartphones, and the penetration of Wi-Fi and Bluetooth. Revenue forecasts by country and region, technology trends, and a comprehensive competitive analysis of key players are also provided.