FinancialNewsMedia.com News Commentary – Consumer demand for home automation systems controls and monitors has been rising in recent years and is projected to continue to grow at a significant pace for years to come.
PALM BEACH, Fla., Nov. 17, 2022 /PRNewswire/ — Smart Home Automation Market Drivers are Innovative smart devices that offer safety, convenience, efficient energy saving, and lower utility cost products, which is expected to benefit the smart home automation market growth. A report from Future Market Insights projected that the global smart home automation market is estimated to grow from US$ 72 Billion in 2022 to US$168 Billion in 2032 while displaying a CAGR of 8.84% during the 2022-2032 period. Increasing penetration of the Internet of Things (IoT) has evolved the machine to machine communication which has motivated users to adopt smart home automation technology. The report said: “Smart Home Automation Market Drivers are Innovative smart devices that offer safety, convenience, efficient energy saving, and lower utility cost products, which is expected to benefit the smart home automation market during the forecast period (2032). Smart homes can do complex functions, such as automatically lighting evacuation pathways in the case of a fire alert. The benefit of a smart home automation system is that it enables the customer to remotely monitor their entire home. There is more flexibility and lower installation and retrofitting costs. Users with…
