The global automated homes market size was valued at $78.7 billion in 2022, according to a new report by GlobalData Plc. Companies operating in the market are focusing on innovations revolving around reducing costs and increasing usability for the consumer. This is expected to help democratize the industry and ensure more consumer segments can acknowledge the automated home market.
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Automated Homes Market FAQs
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Automated Homes Market Dynamics
Over the past five years, automated home devices have become more pervasive in households worldwide. This was further accelerated by the COVID-19 pandemic. Consumers have been able to derive numerous benefits from installing such devices in their homes, making them more secure, more energy-efficient, and making day-to-day tasks easier.
However, fears around data privacy are widespread and a significant barrier to the widespread adoption of automated home devices. Fueled by fear of high-profile data breaches, individuals are concerned about their automated home devices being hacked. However, as more companies offer products that provide protection to consumer’s personal data, the adoption of smart home devices is anticipated to grow in the coming years.
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Automated Homes Market Report Highlights
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Automated Homes Market Segmentation
Global Automated Homes Device Type Outlook (Revenue, $ Million, 2019-2030)
Global Automated Homes Regional Outlook (Revenue, $ Million, 2019-2030)
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