Research and Markets has announced the addition of the "Global Home Automation System Market 2014-2018" report to their offering.
The analysts forecast the Global Home Automation System market to grow at a CAGR of 55.24 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing need for safety and security. The Global Home Automation System market has also been witnessing the increasing adoption of wireless residential building automation systems. However, the lack of effective product differentiation could pose a challenge to the growth of this market.
The report, the Global Home Automation System Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and the EMEA regions; it also covers the Global Home Automation System market discussion of the key vendors operating in this market.
The development of a centralized remote control system is the major trend that is expected to drive the Global Home Automation market during forecast period. The main benefit of a home automation system is the convenience and comfort it provides to the user. Vendors have developed a centralized remote control to monitor and control the complete home automation system.
Vendors are developing a wireless hub that transmits and receives signals from the remote control to other systems or devices. The transmission between the controller and other devices happens seamlessly thus forming a network of devices enabling the controller to control all the devices.
According to the report, the Global Home Automation System market has many growth drivers, one of which is the need for enhanced safety and security at homes. Adequate deployment of effective safety systems provides a sense of greater protection for residential users.
Further, the report states that a major challenge in the market is the lack of effective product differentiation. The vendors of home automation systems are facing increased competition from other international vendors, and counterfeit building automation vendors, due to lack of product differentiation.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.