The global home automation market, valued at $50.60 billion in 2024, is forecasted to expand at a compound annual growth rate (CAGR) of 5.8% between 2025 and 2032. This growth is attributed to increasing consumer adoption of smart living technologies, the integration of Internet of Things (IoT) devices, and a growing focus on energy efficiency in residential settings.
Advancements in connected devices and rising demand for convenience, security, and energy management solutions are key factors propelling market expansion. As more households incorporate automated systems for lighting, climate control, and security, the market is expected to see sustained growth through the next decade.
**Why this matters**
The expansion of the home automation market reflects broader trends in technology adoption and energy conservation. Increased use of smart devices can lead to more efficient energy consumption and improved quality of life for consumers. Additionally, this growth signals opportunities for technology providers and stakeholders in the IoT ecosystem to innovate and meet evolving consumer needs.
Source: News Source