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Need to Optimize Energy Consumption Will Play a Major Role in the Global Home Automation System Market: TechNavioThe Global Home Automation System Market is expected to grow significantly at a CAGR of 56.75 percent from 2014-2019, according to a new report from tech-focused research firm TechNavio. The demand for electricity is increasing at a steady rate. Residential buildings play a crucial role in energy consumption, and these buildings are expected to be consuming more than 13 percent of total energy worldwide by the end of the projected period. "Home automation systems like general lighting controls and HVAC controls help reduce energy consumption in residential buildings by automating the on and off process of general equipment, which plays a major role in reducing overall energy consumption," says Faisal Ghaus, Vice President of TechNavio. According to the latest report by TechNavio, the increased adoption of wireless residential building automation systems is one of the major factors expected to drive market growth through 2019. Currently, several vendors offer wireless buildng automation systems for residential buildings that enhance comfort and reduce electricity consumption. "Wireless automation systems are more suitable for current multi-storied residential buildings compared to wired systems, as they require less maintenance overall," says Ghaus. TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
About TechNavio TechNavio is a leading global technology research and advisory company. Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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