A study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the South-East Asia smart home automation market was worth USD 1.12 Billion in 2020. The market is further estimated to grow at a stellar CAGR of 7.4 % up to USD 2.16 Billion over the forecast period 2021–2030.
A smart home is a home setup wherein household electronic appliances are interconnected through the internet. Such smart electronic appliances can be easily accessed remotely via smartphones, or other network-integrated devices for controlling room temperature. Important functions such as controlling room temperature during the summers and winters, and household chores such as the washing of dishes, washing, and drying of laundry, etc., can be easily controlled using smart home devices such as smart air-conditioners, smart dishwashers, and smart washing machines, respectively. A home automation system has three primary elements: sensors, controllers, and actuators. The controllers are the tools used for sending and receiving signals on PCs, tablets, or smartphones about the status of automated gadget’s functions and features at home.
The adoption of the Internet of Things for smart controlling every device
The growing number of smartphone users and wide acceptance of internet-enabled smart devices are driving the growth of the smart home market. Smart devices are becoming increasingly popular in urban households due to their diverse applications and people’s inclination to embrace smart home technology gadgets. The Internet of Things (IoT) has grown in popularity among residential consumers as a result of the benefits gained by connecting household products to the internet.
South-East Asian Smart Home Automation Segmentation: Country Analysis
Based on the country, the market is segmented into Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand, Rest of South East Asia. Malaysia is expected to see the highest market growth with a stellar CAGR of 11% over the forecast period.
The active players for the South-East Asian smart home automation market are AMX, Automated Living, Colorado vNet, Control4, Cortexa, Crestron, Electronics, Element Controls, iControl Networks, ELK Products, Lagotek, 4Home, Global Caché, Simply Automated, Am-Source International, BTX Window Automation, CentraLite, Leviton, Lutron, Powerline Control Systems, Skyco, Osram, Phillips, Cree.