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Transparency Market Research forecasts the global home automation market to expand at a rate of 6.8% between 2018 and 2026.
Expansion of the global home automation market is likely to be influenced by the increasing consumer liking for these products, thanks to its energy-saving features, enhanced security solutions, convenience, and affordability. The demand for home automation services is also increasing due to growing penetration and development of smartphone-controlled applications.
The rapid adoption of technology is likely to propel the market toward growth
In a bid to offer a better understanding of the market, TMR analysts have segmented the global home automation market on the regional parameter. North America, Latin America, Asia Pacific, Middle East and Africa, and Europe are the major regional segments of the market.
Considering regions, North America is estimated to dominate the global home automation market in foreseeable time. Spiralling popularity of several gadgets equipped with home automation solutions and demand for better home security options. The growth in the region is also characterized by the presence of a large number of prominent companies in the region, which is likely to boost the global home automation market.
The Asia Pacific holds much promise for the market over the assessment period, from 2018 to 2026. The market in the region is estimated to be impacted by the rapid adoption of advanced technologies in the region.
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