Global home automation market valued at US$4.4 billion in 2014

A new report out of the United States from Transparent Market Research valued the global home automation market at US$4.4 billion in 2014 and predicted it would increase at a compound annual growth rate of 26.3 per cent until 2020.

Driving the market are automated solutions for lighting, security, monitoring and managing energy usage, entertainment, heating and cooling.

North America was the biggest region driving the market in 2014. Europe and Asia Pacific followed North America in the global home automation market to collectively account for more than 40 per cent of the global market revenue share, the report said.

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