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Home Automation Market to Rise at 12.1% CAGR, Honeywell International Inc.’s Smart Home Solutions Setting High Standard for Market Players, says Fortune Business Insights

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Pune, India, July 28, 2021 (GLOBE NEWSWIRE) — The global home automation market covered a value of USD 45.8 Bn in 2017 and is anticipated to reach USD 114 Billion by 2025. The global market is anticipated to rise incessantly on account of rising adoption of Internet of Things (IoT) in developing and developed nations. Fortune Business Insights published the above information in a report, titled “Home Automation Market Size, Share and Global Trend by Product Type (Luxury Home Automation System, Mainstream Home Automation System, Managed Home Automation System, DIY Do It Yourself Home Automation System), Application (Safety and Security, Lighting, Entertainment (Audio and Video), Heating, Ventilation and Air conditioning), Networking Technology (Wired Home Automation System, Wireless Home Automation System) and Geography Forecast till 2025.”

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The wireless home automation systems segment is expected to report a remarkable CAGR of 12.1% driven by the increasing demand from around the world.

List of Key Players in Home Automation Market:

  • Crestron Electronics Inc.
  • AMX LLC (Harman)
  • ABB Ltd.
  • Control4 Corporation
  • Honeywell International Inc.
  • Johnson Controls Inc.
  • Siemens AG
  • Savant Systems LLC.

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2018 to 2025
Forecast Period 2018 to 2025 CAGR 12.1%
2025 Value Projection USD 114 Billion
Base Year 2017
Market Size in 2017 USD 45.8 Billion
Historical Data for 2014 to 2016
No. of Pages 140
Segments covered Product Type, Application, Networking Technology and Geography
Growth Drivers Home Automation Market to Grow Rapidly with Rising Demand for Remotely Controlled Devices
Increasing Adoption of Wireless Technology to Fuel Demand in Global Market
North America to Lead the Global Market Owing to High Adoption of AI and IoT

Report Coverage

The report provides a thorough study of the market segments and detailed analysis of the market overview. A profound evaluation of the current market trends as well as the future opportunities is presented in the report. It further shares an in-depth analysis of the regional insights and how they shape the market growth. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The report sheds light on the key players and their prominent strategies to stay in the leading position.

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COVID-19 Impact-

The global pandemic has plummeted the growth of several industries and markets, including the home automation market. The lockdowns, social distancing norms, and curfews have caused massive disturbances in the operations and the supply chain networks. Delayed projects, unavailability of raw materials, reduced available workforce, etc., are stagnating the growth of the market. The global impact of the COVID-19 crisis is expected to gradually fade away as nations are trying to return to pre-pandemic levels. It is uncertain to say how long the situation may persist this way. Nonetheless, our research report’s in-depth analysis will help you gain an exhaustive understanding of this niche market.

To get to know more about the short-term and long-term impact of COVID-19 on this market,

Please visit: https://www.fortunebusinessinsights.com/industry-reports/home-automation-market-100074

Market Drivers

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Home Automation Market to Grow Rapidly with Rising Demand for Remotely Controlled Devices

The rising preference towards better standard of living is one of the primary factors driving the home automation market. This, coupled with rising disposable income especially in developing countries, is encouraging investment in home automation solutions. The growing adoption of smartphones and tablets across the world is likely to escalate demand for remotely controlled devices, thus driving the home automation market. The adoption of cloud-based solutions is growing at a rapid pace in smart home appliances. This is further expected to act as growth engines for the home automation market over the next few years. Rapid urbanization is another factor leading to rise in home automation systems. These systems offer better security and safety with technologically sound specifications. This contributes to the growing demand for advanced home automation products such as home automation using Bluetooth.

Increasing Adoption of Wireless Technology to Fuel Demand in Global Market

Increasing internet penetration and rising willingness for luxurious lifestyle are major factors anticipated to drive the global home automation market during the forecast period 2018-2025. Moreover, increasing purchasing power and adoption of wireless technology is expected to increase the demand in the global home automation market.

Integration of the Internet of Things in home automation products, besides the Artificial Intelligence is also projected to boost the global home automation market.

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However, high cost associated with home automation products and services and high data prices are a few factors that may restrain the global home automation market during the forecast period.

Market Segments

Lighting Seen as the Most Profitable Segment among Others

Among applications, lighting is expected to cover maximum share in the global home automation by 2025. “The adoption of lighting systems is growing as the need for reducing energy consumption rises,” stated a lead analyst at Fortune Business Insights. “This is further resulting in integration of lighting products in-built with technologies such as IoT and cloud-based sources,” he added. Product launches and technologies introduced by companies such as Advanced Lighting Technology and GE Lighting are anticipated to boost this segment in the coming years. Also, companies are adopting wireless technology, which is expected to stimulate growth of this segment during the forecast period.

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Regional Insights

North America to Lead the Global Market Owing to High Adoption of AI and IoT

In 2017, the North America market was worth US$ 16.4 Bn and is projected to dominate the global home automation market in the coming years. Companies in this region are continuously involving in mergers and acquisitions (M&As) to deploy home automation solutions. Rising technological advancements and better internet connectivity are key factors driving the home automation market in this region. Europe in also anticipated to witness considerable growth owing to the presence of some leading manufacturers in automotive segment.  Lastly, the market in Asia Pacific is anticipated to grow   at a steady rate during the forecast period.

Competitive Landscape

Honeywell International Inc. Accounted for a Maximum Share by Developing Advanced Smart Home

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In 2017, Honeywell was the leading player covering for a maximum share in the global home automation market. The company adopted a combination of advanced controls and strategies to develop smart home automation products. Also, the company acquired start-ups to increase its product portfolio penetration in emerging countries. In addition to this, this company is focusing on the deployment of improved technologies in a fully automated home system. In addition to this, recently the company has introduced a home control and Lyric security platform for its users to wirelessly control their home automation systems. Another company called SwannOne launched SwannSecurity which allows users to control and handle their air conditioners, lights, and security cameras with the help of an app.

Quick Buy- Home Automation Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100074

Major Table of Contents:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Global Market Overview
    • Key Market Indicators
    • Macro and Micro Economic Factors
    • Emerging Market Trends
    • Industry SWOT Analysis
  • Global Home Automation Market Analysis, Insights and Forecast, 2014-2025
    • Definitions
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product
      • Luxury Home Automation System
      • Mainstream Home Automation System
      • Managed Home Automation System
      • DIY (DoIt Yourself Home Automation System)
    • Market Analysis, Insights and Forecast – By Application
      • Safety and Security
      • Lighting
      • Entertainment (Audio and Video)
      • Heating, Ventilation and Air conditioning
      • Others
    • Market Analysis, Insights and Forecast – By Networking Technology
      • Wired Home Automation System
      • Wireless Home Automation System
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America
  • North America Home Automation Market Analysis, Insights and Forecast, 2014-2025
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Product
      • Luxury Home Automation System
      • Mainstream Home Automation System
      • Managed Home Automation System
      • DIY (Do It Yourself Home Automation System)
    • Market Analysis, Insights and Forecast – By Application

TOC Continued…!

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Have a Look at Related Research Insights:

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Artificial Intelligence (AI) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), By Deployment (Cloud, On-premises), By Industry (Healthcare, Retail, IT & Telecom, BFSI, Automotive, Advertising & Media, Manufacturing, and Others) and Regional Forecast, 2020-2027

Internet of Things (IoT) Market Size, Share & COVID-19 Impact Analysis, By Component (Platform, Solution & Services), By End Use Industry (BFSI, Retail, Government, Healthcare, Manufacturing, Agriculture, Sustainable Energy, Transportation, IT & Telecom, Others), and Regional Forecast, 2021-2028

Speech and Voice Recognition Market Size, Share & Industry Analysis, By Component (Solution, Services), By Technology (Voice Recognition, Speech Recognition), By Deployment (On-Premises, Cloud), By End-User (Healthcare, IT and Telecommunications, Automotive, BFSI, Government, Legal, Retail, Travel and Hospitality and Others) and Regional Forecast, 2019 – 2026

Facial Recognition Market Size, Share & Covid-19 Impact Analysis, By Component (Solutions, Services), By Technology (2D Facial Recognition, 3D Facial Recognition, Thermal Face Recognition, Skin Texture Analysis, and Others, By Application (Face Identification, Access Control, Security & Surveillance, and Others, By End-user (BFSI, Healthcare, Government & Defense, IT & Telecom, Retail & ecommerce), and Regional Forecast, 2020-2027

Cloud Managed Networking Market Size, Share & COVID-19 Impact Analysis, By Type (Hardware, Software and Cloud Services), By Deployment (Public Cloud and Private Cloud), By Enterprise Size (Small and Medium Enterprises (SMEs) and Large Enterprises), By Industry (Telecom & IT, Retail, Media & Entertainment, Educational Institutions, and Others and Regional Forecast, 2020-2027

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About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

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Artificial Intelligence

Workers embrace AI and prioritise skills growth amid rising workloads and an accelerating pace of change: PwC 2024 Global Workforce Hopes & Fears Survey

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Almost half (45%) of workers say their workload has increased significantly in the past year, as almost two-thirds (62%) say the pace of change at work has increased over the same timeMore than one-quarter (28%) say they are very or extremely likely to switch employer in the next 12 months – a higher proportion than during the ‘Great Resignation’ (19%) in 2022Employees prioritise skills-growth: fewer than half (46%) strongly or moderately agree that their employer provides adequate opportunities to learn new skills. This is particularly important for workers considering leaving: two-thirds (67%) say opportunities to learn new skills are a key factor in any decision to job-switchMore than 80% of workers who use generative AI daily expect it to make their time at work more efficient in the next 12 months. Half (49%) of all users expect it to lead to higher salariesCost-of-living pressures ease slightly: the proportion of workers with money left over each month rises to 45% (compared to 38% in 2023). However, 52% say they are still financially stressedLONDON, June 25, 2024 /PRNewswire/ — Among more than 56,000 workers across 50 countries and territories, many say they are prioritising long-term skills growth to accelerate their careers amid rising workloads and heightened workplace uncertainty, according to PwC’s 2024 Global Workforce Hopes & Fears Survey, published today.

In the last 12 months, workers say they have experienced rising workloads (45%) and an accelerating pace of workplace change. Nearly two-thirds (62%) say they have experienced more change at work in the past year than the 12 months prior, with two-fifths (40%) noting their daily responsibilities have changed to a large or very large extent. Almost half (44%) don’t understand the purpose of changes taking place.
In the midst of this growing mix of employee pressures, the findings suggest workers are alert to opportunities elsewhere, and are highly focused on skills growth and embracing AI.
More than one-quarter (28%) say they are likely to switch employer in the next 12 months, a percentage far higher than during the ‘Great Resignation’ (19%) of 2022. Two-thirds (67%) of those considering moving say skills is an important factor in their decision to stay with their current employer or switch to a new one.
Carol Stubbings, Global Markets and Tax & Legal Services (TLS) Leader, PwC UK, said:
“As workers face heightened uncertainty, rising workloads and continue to face financial stress, they are prioritising skills growth and embracing new and emerging technologies such as GenAI to turbocharge their growth and accelerate their careers. The findings suggest that job satisfaction is no longer enough. Employees are placing an increased premium on skills growth in a climate characterised by constant technological change. Employers must ensure they are investing in their employees and technological platforms to mitigate employee pressures and retain the brightest talent.”
Workers embrace AI to ease workplace pressures and unlock personal growth
As employees face heightened workplace pressures, they are also turning to new and emerging technologies such as generative AI (GenAI) to help. Among those employees who use GenAI daily, 82% expect it to make their time at work more efficient in the next 12 months.
Employees are also optimistic about opportunities for GenAI to support their growth. Half (49%) of all users expect GenAI to lead to higher salaries – an expectation that’s even higher (76%) among employees who use the technology daily. More than 70% of users agree that GenAI tools will create opportunities to be more creative at work (73%) and improve the quality of their work (72%).
The skills imperative
Workers are placing an increased premium on skills growth to mitigate their concerns and accelerate their careers. Employees who say they are likely to switch employers in the next 12 months are nearly twice as likely to strongly consider upskilling in that decision than workers planning to stay (67% vs. 36%). This comes as fewer than half (46%) of all employees moderately or strongly agree that their employer provides adequate opportunities to learn new skills that will be helpful to their careers.
Employees who are likely to leave in the next year may be more attuned to skills changes that are needed than the general workforce, with 51% moderately or strongly agreeing that the skills their job requires will change in the next five years (vs. 29% of those unlikely to change employer).
There is particular interest in the impact of AI on skills development, with 76% of all users expecting it to create opportunities to learn new skills at work. However, employers will need to invest heavily in new and emerging technology training and access. Among employees who have not used GenAI at work in the last 12 months, one-third (33%) don’t think there are opportunities to use the technology in their line of work, while 24% don’t have access to the tools at work, and 23% don’t know how to use the tools.
Despite the pace of change, there are also signs of optimism and engagement at work. 60% of workers expressed at least moderate job satisfaction (up from 56% in 2023) while more than half (57%) of employees who view fair pay as important agree that their job is fairly paid. Cost-of-living pressures have slightly eased since 2023 (the proportion of workers with money left over each month has risen to 45%, up from 38%). However,  more than half (52%) say they are still financially stressed to some degree.
Pete Brown, Global Workforce Leader, PwC UK, said:
“Technology is fundamentally transforming the way work gets done and the types of skills employers are looking for. Employees are therefore placing an increased premium on organisations that invest in their skills growth so that they can stay relevant and thrive in a digital world. Businesses in turn must be proactive in their upskilling programs – prioritising the employee experience and being transparent. Because when you meaningfully engage your workforce, they become an accelerant for successful transformation.”
Notes to Editors: 
About the Survey
In March 2024, PwC surveyed 56,600 individuals across 50 countries and territories who are in work or active in the labour market. The sample was designed to reflect a range of industries, demographic characteristics and working patterns. You can read the full report on pwc.com.
About PwC
© 2024 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
Contact:  Imran Javaid, Global Corporate Affairs and Communications, PwC UK: [email protected] Dan Barabas, Global Corporate Affairs and Communications, PwC UK: [email protected]
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Amagi Showcases New Stream Technology With VIZIO

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Amagi’s new Zero Slate delivers personalized linear streaming, resulting in increased viewership on VIZIO FAST channels 
NEW YORK, June 24, 2024 /PRNewswire/ — Amagi, the global leader in cloud-based SaaS technology for broadcast and Connected TV (CTV), today announced the first successful showcase of Amagi’s Zero Slate technology on VIZIO’s owned and operated WatchFree+ channels, part of Amagi’s broader Stream Personalization initiative. This innovative new offering enhances the streaming experience with its highly impactful, patent-pending technology that can dynamically adjust the length of ad breaks on a per-viewer basis, eliminating the need for slates or filler to round out linear ad breaks.

This new “viewer-first” personalized approach to digital streaming has already demonstrated a lift in viewership (Amagi ANALYTICS showing more than 20% increase) on VIZIO’s owned and operated channels utilizing the Zero Slate capabilities. This industry-first innovation from Amagi paves the path for a more engaging and profitable future for entertainment and enhanced viewer experiences.
Data from Amagi ANALYTICS indicates that slates, often used to fill the unsold portion of ad pods, may increase viewer churn by as much as 15% in today’s Free Ad-supported Streaming TV (FAST) ecosystem. Zero Slate’s early success demonstrates that personalizing pod length can boost viewer engagement, enabling more high-quality viewing experiences over time. This capability also represents an important first step for Amagi toward a broader suite of Stream Personalization capabilities that offer even more engaging linear viewing experiences.
“We are pleased to partner with Amagi on this showcase of their Zero Slate technology. This collaboration reinforces VIZIO’s commitment to enhancing user experiences and delivering personalized content as we expand Zero Slate across more channels,” said Katherine Pond, Group Vice President of Platform Content and Partnerships at VIZIO.
“We are grateful to have partnered with an industry leader like VIZIO to test the impact of our new Zero Slate capability and are excited about Stream Personalization’s ability to further transform the linear viewing experience,” said Srinivasan KA, Co-founder and Chief Revenue Officer, Amagi.
About VIZIOFounded and headquartered in Orange County, California, our mission at VIZIO Holding Corp. (NYSE: VZIO) is to deliver immersive entertainment and compelling lifestyle enhancements that make our products the center of the connected home. We are driving the future of televisions through our integrated platform of cutting-edge Smart TVs and powerful operating system. We also offer a portfolio of innovative sound bars that deliver consumers an elevated audio experience. Our platform gives content providers more ways to distribute their content and advertisers more tools to connect with the right audience.
For more information, visit VIZIO.com and follow VIZIO on Facebook, Twitter, and [email protected] 
About AmagiAmagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 5,000 channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, London, Paris, Melbourne, Seoul, Singapore, and broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
Link to Word Doc: www.wallstcom.com/Amagi/240624-Amagi-VIZIO_ZSlate.docx 
Agency Contact:Joseph LesieutreWall Street CommunicationsEmail: [email protected]
Amagi Contact:Aashish WashikarDirector – Corporate CommunicationsEmail: [email protected]: +91 9533390005

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ResourceWise Brings Its Cross-Commodity Data and Analytics Expertise to New Oleochemicals Service

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ResourceWise has met a key milestone in providing cross-commodity price benchmarks, data, and analysis on chemicals, forest products, and decarbonization markets. 
CHARLOTTE, N.C., June 24, 2024 /PRNewswire/ — ResourceWise has met a key milestone in providing cross-commodity price benchmarks, data, and analysis on chemicals, forest products, and decarbonization markets. 

For the first time, one digital product encompasses expertise that spans all the key commodity sectors that ResourceWise covers. Dedicated to renewable feedstock, the new platform-based oleochemicals analysis and insight tools draw on decades of experience within each distinct business sector. 
Dwight Lynch, Biomaterials Business Manager at ResourceWise, is leading the transition towards data and insight on renewable intermediates and biobased and biodegradable polymer inputs. 
“Navigating oleochemicals markets at a time when regulation, legislation, and competition from renewable fuels markets are the key drivers is a challenge. Our new service offers pricing and analysis that informs decision-makers and allows sustainable business to thrive.” 
The new oleochemicals portal in ResourceWise’s flagship chemicals market intelligence platform, OrbiChem360, has evolved beyond its legacy biomaterials insights to focus on the fats and oils markets that are key to sustainability.  
It presents pricing data and analysis that ResourceWise biomaterials experts have furnished within OrbiChem360 this past decade and includes a crude tall oil (CTO) price index. The inclusion of a forest-based output introduces the ResourceWise platform FisherSolve’s pulp and paper industry insight to our portfolio. 
Pete Stewart, the CEO of ResourceWise, is focused on the future. “From raw material converters to end-use consumer goods producers, manufacturing value chain participants are increasingly seeking cross-commodity insights to meet low-carbon targets. We are building and providing the data and analytics businesses need to achieve environmental, social, and governance (ESG) targets and market products competitively worldwide.  
“The ResourceWise mission is to use the intelligence within the increasingly inter-related business sectors we have harnessed to guide customers in their journey toward a net-zero future. This new offering is the first of many milestones in our endeavor to do just that,” adds Stewart.  
A Streamlined Renewable Chemicals Service  
The new product leverages oleochemical pricing and commentary gathered by ResourceWise legacy brands since 2014 and insight collected since the 1990s. It extends our regional reach with additional price points and streamlines the data and analytics provided.  
The new portal is designed with personal care, cosmetics, detergents, lubricants, pharmaceuticals, flavor and fragrance, and food and beverage market participants in mind. However, it provides pricing data and insights for producers, intermediaries, and consumer product manufacturers in broader industries. 
More Than Forty Current and Historical Prices          
International price indexes for oleochemicals include the feedstocks soybean, coconut, tall, rapeseed, and palm oils, as well as tallow and glycerine grades Dozens of spot and contract prices for fatty acids and fatty alcohols plus comprehensive commentary based on intelligence from a worldwide contact base       Low-carbon price benchmarks and commentary in our oleochemicals offering will increasingly leverage intelligence on the biofuels sector within the Prima CarbonZero platform      Global Trade Flow graphics for all oils and tallow to help customers understand how key plant and animal-based feedstocks are traded globally to identify new markets and sources   Industry experts contextualize data, making it actionable, and respond personally to customer inquiries By bridging information gaps in the chemicals market, OrbiChem360 subscribers gain a competitive edge in volatile markets. The platform provides decision makers with robust, data-driven insight that unravels market trends so they can harness growth opportunities. For more information on the OrbiChem360 platform, visit the ResourceWise OrbiChem360 page. 
CONTACT:
Contact:Suz-Anne Kinney          Vice President, Marketing & Communications at [email protected]  +1 (980) 233-4021
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