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Home Automation System Market worth $73.49 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Nov. 4, 2024 /PRNewswire/ — The Home Automation System Market was valued at USD 57.67 billion in 2024 and is projected to reach USD 73.49 billion by 2029; it is expected to register a CAGR of 5.0% during the forecast period according to a new report by MarketsandMarkets™. The home automation system market is being fueled by the ongoing expansion of IoT with smart devices that are capable of interacting with one another for improving user experience. This integration, in addition to the advancement in the use of high-speed internet and 5G, is making it easier to have real-time data transmission, and systems to operate home automation more efficiently, and thus user experience is improving, thereby driving the market growth. Secondly, rising compatibility of voice assistants with home automation devices for controlling other devices such as thermostats, lights, security systems and entertainment stations are also contributing to the market growth.

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Browse in-depth TOC on “Home Automation System Market” 
150 – Tables
90 – Figures
210 – Pages

Home Automation System Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 57.67 billion

Estimated Value by 2029

$ 73.49 billion

Growth Rate

Poised to grow at a CAGR of 5.0%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Lighting Controls, Smart Speakers, Entertainment Controls, HVAC Controls, Security & Access Controls and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Cybersecurity concerns

Key Market Opportunities

Favourable government regulations to promote green buildings

Key Market Drivers

Rising need for convenience and comfort

By Installation type: new installations segment to account for the larger market share in the forecasted year.

The new installation segment accounted for the larger share of the home automation system market in 2029. The growth of the segment is attributed to the growing need for more comfort, energy savings, and improved security of living and/or working spaces. Consumers require products that can effectively keep their homes comfortable, save time, regulate energy usage and provide centralized operation of lighting, heating, ventilation systems, security systems, and other multimedia appliances. In addition, it enables those with such systems in their homes to keep track of the amount of energy used and consequently minimize energy usage that on the long run is a bonus to the environment as well as helping to slash off high electricity bills hence enhancing the prospects of home automation systems. The use of home automation accessories has continued to rise and the application of IoT in homes, which augment the systems, also boosts home automation systems demand.

By Sales Channel: Indirect sales accounted for a larger market share in the forecasted year.

Indirect sales channels or third-party distributors hold a major share of the home automation system market in 2029. These channels can give the manufacturers the wider market access by relying on the intermediaries, such as retailers, system integrators, and especially value-added resellers. Third party distributors in most cases have modified well rooted networks and relations within their particular markets and therefore home automation products find it easier to access various segments of the markets.

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By Country: US in North America is expected to hold the largest share of the home automation system market during the forecast period.

US is expected to hold the largest share of the total home automation system industry in 2029. The net-zero carbon emissions by 2050 is a goal set by the US government which further drives the use of automated home technologies that help minimize energy consumption and carbon emissions. Property monitoring functions enable the homeowners to oversee their property as they stroll around the outside of the house or travel giving them a sensation of security regardless of the situation. Therefore, convenience, energy efficiency, security and improvement of lifestyle, have made home automation systems popular in the US. 

Key Players-

The key companies in home automation system companies include Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Schneider Electric (France), Siemens (Germany), ASSA ABLOY (Sweden), Apple Inc. (US), Robert Bosch (Germany), ABB (Switzerland), Legrand (France), ADT (US), Resideo Technologies Inc. (US).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Smart Home Market Size, Share & Trends by Product (Lighting Controls, Smart Speaker, Entertainment, Smart Kitchen, HVAC Controls, Security & Access Controls), Offering (Behavioral, Proactive), Sales Channel, Installation Type and Region – Global Forecast to 2029

HVAC System Market Size, Share & Industry Trends Growth Analysis Report by Cooling (Unitary Air Conditioner, VRF), Heating (Heat Pump, Furnace), Ventilation (AHU, Air Filter), Service Type (Installation, Maintenance & Repair), Implementation Type (New Construction, Retrofit) – Global Forecast to 2029

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Bonree Powers Global Digital Finance with Intelligent Observability

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DONGGUAN, China, April 27, 2026 /PRNewswire/ — From March 31 to April 2, 2026, the second Huawei Global Financial EcoWeek, themed “Inspire • Collaborate • Achieve: Reshaping the Future of Finance”, was held in Sanyapo, Dongguan. The event brought together over 400 attendees from Huawei partners across more than 30 countries and regions, including over 60 independent software vendors (ISVs) and over 120 system integrators (SIs) in the financial industry. As global financial data volumes surge, customer demands diversify, and regulatory requirements evolve, financial institutions are accelerating their digital and intelligent transformation. Observability and intelligent operations technologies enable institutions to detect system anomalies in real time, optimise performance, and ensure business continuity, while cross-regional and cross-institution collaboration is becoming a key driver of industry innovation.

At the event, NTT Data signed a partnership agreement with BONREE DATA TECHNOLOGY Co., Ltd. (Bonree), marking the launch of a renewed global financial ecosystem under the “SI Value Growth Plan.” As the first publicly listed company in China’s Application Performance Management (APM) and observability market, Bonree is advancing its globalisation strategy with established operations in Hong Kong SAR, Singapore, and Malaysia. The company has already secured orders worth millions in the Hong Kong and Macau region. Bonree complies with internationally recognised standards, including SOC 2 Type II and CMMI Level 5. Its self-developed LLM-powered observability platform has been selected for Huawei Cloud’s international baseline solution library, reflecting recognition from global cloud ecosystems and supporting its expansion with a “global deployment, local compliance” approach.

Bonree serves over 1,000 leading clients worldwide with system monitoring, performance optimisation, and intelligent operations solutions. Leveraging proprietary unsupervised knowledge graph root cause analysis technology and AI-driven intelligent analytics, Bonree delivers plug-and-play monitoring and fully managed adaptive alerting systems that detect anomalies quickly and accurately with minimal noise. With 56 authorised invention patents and 135 software copyrights, as well as 24/7 global technical support, Bonree maintains an NPS of 79 and a client satisfaction rate of 95%, reflecting its deep overseas market presence and trust among international financial institutions. With these core strengths, Bonree continues to lead in global fintech and digital operations, helping clients ensure business continuity and digital transformation while striving to become a leading global player in APM and observability.

CONTACT: 
Yao Xiaohan
yaoxiaohan@bonree.com 
+8618210189324

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SOURCE BONREE DATA TECHNOLOGY Co., Ltd.

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HZICC: The 2025 Hangzhou Highlights Awards Celebrating Visionaries Elevating the City’s Global Profile

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HANGZHOU, China, April 27, 2026 /PRNewswire/ — What does the world see when it looks at Hangzhou? The Hangzhou & Friends: 2025 Hangzhou Highlights Awards, unveiled on February 4, offered an answer—not through statistics alone, but through the stories of connection that unfolded across the year.

The awards were born from a simple recognition: that a city’s global presence is built not only on grand events, but on the countless moments when people reach across borders. To honor this, the organizers structured the awards into four chapters: Dialogue of Civilizations, Industrial Narratives, Social Innovation, and Moments of the Year, each capturing a different way that Hangzhou touched the world.

Across these categories, moments of quiet resonance stood out. In the realm of cultural dialogue, ten friends from ten nations explored Hangzhou for the first time, their journeys later echoed by the city’s own return visits to Istanbul and Cairo. After the visits, a German photographer’s image of Qiandao Lake’s giant net fishing found its way to the pages of The Times, Hangzhou’s bond with Verona deepened into a year-long romance of music, art, and shared celebration, proving that sister-city ties can bloom into something far richer than ceremony.

On the Liangzhu Day of 2025, the “Liangzhu and the World: Dialogue between Liangzhu Ancient City and Rome Ancient City” was held—one of several moments when the region’s archaeological treasures found new resonance on the global stage. Beyond culture, the awards recognized how Hangzhou’s industries are telling Chinese stories overseas, from Geely’s global development to the rise of cross-border e-commerce that brings Hangzhou products,and the culture behind them directly to international consumers.

Yet there were also countless other people and moments that helped the world know Hangzhou. An international student from Pakistan filmed the city he had come to call home, capturing not just its landmarks but the feeling of belonging. A volunteer from Zimbabwe found himself holding hands with local police and strangers in a human chain at West Lake to maintain traffic order, discovering that being welcomed means being trusted to help. The Hangzhou International Conference Center became a stage for cross-cultural encounter, while Hangzhou’s tech-themed travel routes offered visitors a chance to explore the city’s cutting-edge innovations.

Together, these moments traced a portrait of Hangzhou not as a place that simply welcomes visitors, but as one that listens, shares, and grows, through the people who carry its stories onward.

 

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SOURCE HZICC

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Flagship Tablet to Highlight Huawei Innovative Product Launch in Bangkok

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BANGKOK, April 27, 2026 /PRNewswire/ — Huawei officially announced the “Now Is Your Spark” Innovative Launch Event, due to be held in Bangkok, Thailand on May 7, 2026. This launch event will unveil a comprehensive lineup of flagship tablets, wearables, and smartphones. Empowering daily life with technology and exploring future frontiers through innovation, Huawei aims to inspire every user through intelligent experiences across all scenarios.

As one of the highlights of this launch event, the flagship tablet HUAWEI MatePad Pro Max will make its global debut. The HUAWEI MatePad Pro series has consistently delivered comprehensive experience breakthroughs with best-in-class productivity and creativity. This new device is Huawei’s best tablet yet, with a lightweight design, PC-level productivity, and PaperMatte Display, opening new possibilities for work, creation, and creative expression.

In the wearables sector, the HUAWEI WATCH FIT Series continues to gain widespread recognition from global consumers. By April 2026, shipments have exceeded 24 million units, setting a new benchmark in the fashion sports smartwatch market. The series offers a lightweight, comfortable wearing experience while providing professional sports guidance and health management features. At the Huawei Innovative Launch Event in Bangkok, the all-new HUAWEI WATCH FIT 5 Series will debut. It is set to become the ideal companion for users to express personal style, explore sports enjoyment, and monitor health around the clock. Additionally, this launch will introduce the HUAWEI WATCH GT Runner 2 Racing Legend Edition, specially designed for marathons with its upgraded data analysis capabilities to scientifically support every step of the run. Moreover, Huawei plans to unveil its first jewelry smartwatch designed in partnership with renowned international jewelry designer Francesca Amfitheatrof—the HUAWEI WATCH ULTIMATE DESIGN Spring Edition. Also making a grand return after five years is the next-generation premium kids watch, the HUAWEI WATCH KIDS X1 Series.

In the smartphone segment, HUAWEI nova 15 Max will deliver an upgraded experience for global consumers. Leveraging strengths in imaging technology, battery life, and reliable quality, it is an ideal companion for young people to capture life’s moments and unleash their creativity.

Now Is Your Spark— every individual can light up the world to drive change, and technology serves as the torch to ignite, connect, and amplify this force. By giving passion a voice, inspiration a purpose, and expression a stage, Huawei aims to empower consumers worldwide to write their own stories with innovative technologies.

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