The US Home Automation and Security Technology Report 2021-2026: Google and Comcast are Moving More Aggressively to Capture a Share of the $15.8 Bn Market – PRNewswire
DUBLIN, Sept. 3, 2021 /PRNewswire/ — The “The U.S. Market for Home Automation and Security Technologies 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The U.S. market for home automation systems should grow from $9.0 billion in 2021 to $15.8 billion by 2026, a compound annual growth rate (CAGR) of 12.0% for the period of 2021-2026.
Companies such as Google and Comcast are moving more aggressively to capture a share of the home automation market. The home automation market in the U.S. is very competitive, the players are constantly and aggressively developing solutions to suit the user needs.
The players are adopting various strategies such as mergers and acquisitions, partnerships, product development and launch, among others to sustain and grow in the market. For example, in January 2020, Vivint Smart Home, Inc. and Mosaic Acquisition Corp. entered a merger that resulted in Vivint becoming a publicly-traded company.
The top priority for the businesses is to safeguard consumer and workers’ health. Partial or full plant closures could continue for manufacturers in regions that have been hard-hit for extended periods. COVID-19 has impacted nearly all regions, but especially in the U.S., which has experienced a sharp increase in diagnosed cases. COVID-19 has critically impacted nearly all global industries, which includes the market for U.S. Home Automation and Security Technologies.
The COVID-19 pandemic has substantially impacted the residential real estate market in the U.S. Despite the economy’s recovery, increased unemployment and economic uncertainty may continue to affect the housing market through 2020 and beyond. The pandemic’s impact on the U.S. housing market significantly affected the market of home automation and security technologies in 2020.
Consumers of home automation solutions seek the following:
- Smoke and carbon monoxide detectors to protect against fire and carbon monoxide.
- Flood sensors to protect against potential water damage.
- Door sensors and glass-break break sensors to notify homeowners of attempted forced entry.
- Indoor and outdoor security cameras to monitor homes, view video footage and be notified of suspicious activity.
- 24/7 monitoring to assist in an emergency or crisis, keeping the home and the people safe and protected.
The Report Includes
- 24 tables
- An overview of the U.S. market for home automation and security technologies
- Estimation of the market size and analyses of market trends, with data from 2020, estimates for 2021, 2023 and projection of CAGR through 2026
- Evaluation of market size and forecast, and …….