Transparency Market Research reports the global home automation market will see strong growth during the 2013-2019 period, with CAGR reaching 24.5% as the industry shifts towards the mainstream.
According to the analyst the market is at a point of inflection characterised by a number of aspects-- chiefly complex solutions, high industry competition, large number of networking technologies, multiple and incompatible standards and expensive products. However consumer demand for universal, easy-to-install solutions will drive the market away from its current, luxury-dominated, standing.
Fueling the trend further are telcos, broadband providers, utilities and cable operators, among others, taking on automation. The result is vendors moving away from the luxury market towards development of manstream solutions.
Transparency forecasts managed automation services and mainstream solutions will collectively account for 71% of the global market by 2019, up from 27.5% in 2012.
