Global Home Automation Market To Reach $168 Billion In 2032

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Smart Home Automation Market Drivers are Innovative smart devices that offer safety, convenience, efficient energy saving, and lower utility cost products, which is expected to benefit the smart home automation market growth. The global smart home automation market is estimated to grow from US$ 72 Billion in 2022 to US$168 Billion in 2032 while displaying a CAGR of 8.84% during the 2022-2032 period. Increasing penetration of the Internet of Things (IoT) has evolved the machine to machine communication which has motivated users to adopt smart home automation technology. According to report “Smart Home Automation Market Drivers are Innovative smart devices that offer safety, convenience, efficient energy saving, and lower utility cost products, which is expected to benefit the smart home automation market during the forecast period (2032). Smart homes can do complex functions, such as automatically lighting evacuation pathways in the case of a fire alert. The benefit of a smart home automation system is that it enables the customer to remotely monitor their entire home. There is more flexibility and lower installation and retrofitting costs. Users with remote access to home accessories can control their home appliances while they are away.” Active companies in the markets this week include: SKYX Platforms Corp. (NASDAQ: SKYX), Alphabet Inc. (NASDAQ: GOOGL,) Snowflake (NYSE: SNOW), Apple Inc. (NASDAQ: AAPL), Mobileye Global Inc. (NASDAQ: MBLY).

“The Rising Interest in Advanced Technologies, to Drive the US Market in Smart Home Automation. The United States is expected to emerge as the leading country during the predicted period. The country’s preference for modern technologies such as artificial intelligence and the internet of things, along with increased disposable income, boosts demand for smart technologies. Many startups are sprouting in the region, adding to the market’s growth. As a result, the market in North America is predicted to expand considerably throughout the forthcoming years. Asia Pacific region has the greatest market share. The Asia Pacific is predicted to rise rapidly throughout the projection period due to increased expenditure on smart technologies. Owing to the dominance of important smart device makers, China is likely to monopolize the region’s share. Due to increased demand for automated solutions, India is likely to grow at a high CAGR throughout the upcoming years.”

SKYX Platforms Corp. (NASDAQ: SKYX) BREAKING NEWS: SKYX Wins Consumer Electronics Show (CES) 2023 Innovation Award for Smart Home Category for Smart Sky Ceiling Plug – SKYX’s Revolutionary Smart Ceiling Plug Recognized for its Safety, Smart Features and Groundbreaking Design by the World Leading Consumer Technology Association – SKYX Platforms Corp. company with over 60 issued and pending patents globally whose mission is to make homes and buildings smart, safe and advanced as the standard, today announced that its Smart Sky Ceiling Plug has won the Consumer Electronics Show 2023 Innovation Award for Smart Home Category.

“We are pleased that SKYX was honored in the highly sought after CES Innovation Awards,” said Rani Kohen, Founder, Inventor and Executive Chairman of SKYX Platforms Corp. “I firmly believe that the simplicity, ease of use and safety benefits of our technology will make it truly ubiquitous in the future. With a market of hundreds of millions of lighting and ceiling fan installations in the U.S. alone, a safe plug and play option with smart capabilities is a necessity. I look forward to continued execution in the months ahead as we strive to create value for shareholders and consumers alike.”