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Home Automation Services in the US Industry Data and Analysis
Major smart appliance manufacturers build smart household cooking appliances, refrigerators and laundry equipment. Rising millennial home ownership and increasing disposable income in developed economies are poised to drive automated home demand. A boom in the number of internet connections has skyrocketed demand for industry products. High input prices provided new revenue streams for manufacturers during the recovery from COVID-19, as companies passed on high costs to consumers. Interest rates have soared in recent years, as the Federal Reserve has been combatting inflation, till it finally cut rates in 2024 as inflation has cooled. This has raised the cost of borrowing, reducing downstream demand from the housing market and hindered revenue growth. Overall, industry revenue is poised to surge at a CAGR of 6.1% to $36.2 billion over the past five years, including a 1.1% increase in 2024 alone, while profit is set to total 16.2% of revenue.
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What's included in this industry analysis
IBISWorld's research coverage on the Home Automation Services industry in the United States includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released October 2024.
About this industry
What's this industry report about?
The Home Automation Services industry in the United States operates under the NAICS industry code OD6378. Operators in this industry provide services to automate home appliances, climate control and other aspects of home living spaces. Related terms covered in the Home Automation Services industry in the United States include internet of things, smart home and smart hub.
What's included in this industry?
Products and services covered in Home Automation Services industry in the United States include Lighting systems, Cleaning systems and Security systems.
What companies are included in this industry?
The Home Automation Services industry in the United States is highly fragmented with no companies holding a market share greater than 5%.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Home Automation Services industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Home Automation Services industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Home Automation Services industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Home Automation Services industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Home Automation Services industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Home Automation Services industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Home Automation Services industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Home Automation Services industry in the United States.
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Frequently Asked Questions
What is the market size of the Home Automation Services industry in the United States in 2026?
The market size of the Home Automation Services industry in the United States is $36.2bn in 2026.
How many businesses are there in the Home Automation Services industry in the United States in 2024?
There are 712 businesses in the Home Automation Services industry in the United States, which has grown at a CAGR of 14.0 % between 2019 and 2024.
Has the Home Automation Services industry in the United States grown or declined over the past 5 years?
The market size of the Home Automation Services industry in the United States has been growing at a CAGR of 5.7 % between 2019 and 2024.
What is the forecast growth of the Home Automation Services industry in the United States over the next 5 years?
Over the next five years, the Home Automation Services industry in the United States is expected to grow.
What does the Home Automation Services industry in the United States include?
Automating home climate control and Installing digital security systems are part of the Home Automation Services industry in the United States.
How competitive is the Home Automation Services industry in the United States?
The level of competition is moderate and steady in the Home Automation Services industry in the United States.
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