Technology Market report: December 2017

Tuesday 19 December 2017

Home Automation Market Size is Likely to Value USD 39.88 Billion By 2024

The global Home Automation Market is expected to reach USD 39.88 billion by 2024, driven by rising necessity of consumers for protection against fire and break-ins. Availability of automated systems that can be operated over high-speed Wi-Fi, powerful smart phone ubiquitous, and growing popularity of Internet-connectable gadgets is expected to drive market growth. Moreover, reduced energy consumption and availability of a broad range of products is anticipated to boost the home automation market.

North America was the largest market accounting for 35.7% of the share in 2016, owing to the adoption of the technology and availability of affordable solutions is expected to augment market growth. Europe is expected to witness sluggish growth over the forecast period on account of market saturation. Factors such as awareness towards security & safety of property, particularly in countries such as Germany, UK and France, is expected to drive the market over the forecast period. Asia Pacific, Central & South America, and the Middle East are expected to lead the global home automation market in the next few years.

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Wireless systems were extensively used and are expected to witness a growth at an 11.7% CAGR on account of shift of consumers to a hands-free method of operation. Computing network is anticipated to achieve substantial growth in future owing to the availability of wearable computing devices and high-speed internet connectivity.

Safety & security was the largest contributor and is expected to witness the fastest growth on account of advancement of technology such as biometric enabled lock system, camera feeds, and alarm systems which prevent theft and burglary. Mainstream automation systems are expected to witness significant growth in upcoming years on account of its ability to integrate all smart electronic appliances to form one intelligent system which can be accessible by the user.

Custom automation systems are anticipated to grow on account of its ability to provide features which suit the personal requirement of the customer. Moreover, these systems are available over a broad price range, thus, providing a consumer with the option of picking and choosing functions that suit their homes.

Hexa Research has segmented the global home automation market based on technology, application, type and region:

Segmentation by networking technology, 2014 - 2024 (USD Million)

• Wired systems

• Power-line systems

• Computing networks

• Wireless systems

Segmentation by application, 2014 - 2024 (USD Million)

• Lighting

• Safety & security

• HVAC

• Entertainment

• Energy management

• Others

Segmentation by type, 2014 - 2024 (USD Million)

• Custom Automation

• Mainstream Automation System

• Do-It-Yourself (DIY)

• Managed Home Automation

Segmentation by region, 2014 - 2024 (USD Million)

• North America

• U.S.

• Europe

• Germany

• UK

• Asia Pacific

• China

• Central & South America

• Brazil

• MEA

Key players analyzed

• Siemens AG

• ABB

• Honeywell

• Crestron Electronics, Inc.

• Schneider Electric

• Johnson Controls, Inc.

• Control4 Corporation

• Ingersoll-Rand PLC

• Legrand

• Leviton Manufacturing Company, Inc.

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Sunday 3 December 2017

Military Radar Systems Market Overview and Outlook

The global Military Radar Systems Market to reach USD 14.46 billion by 2024, driven by the rising need for improving safety and security on the borders and rising conflicts among neighboring nations. North America was the largest regional market commanding the highest revenue share in 2016 and is expected to maintain its dominance over the forecast period.

The region is home to many active vendors such as Raytheon Company and Northrop Grumman Corporation in the defense market at large. Rise in investment activities, especially in developing countries such as China and India to strengthen their armies is expected to boost the military radars systems market over the forecast period.

The ground-based radar platform dominated the market owing to its uses and applications in surveillance and weapon guidance. The segment is expected to continue to dominate the market over the forecast period as well. Airborne radars are widely used for guiding missiles and for tracing accurate and precise targets. Naval radars are expected to follow a similar growth trajectory with an expected increase in demand over the forecast period.

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Growing safety and security concerns with the nations along with rising investments and defense budgets are expected to spur growth in military radar systems market. Technological advancements in the military radar systems industry are leading to the growth and development of lightweight military radars which is projected to add to the growth of the market over the forecast period.

The military radar systems market is estimated to witness growth in demand owing to the escalation in terrorist activities, border intrusions, and inter-country conflicts. Military radars are used for accurate and precise detection, surveillance, tracking, warning, and ground mapping of weapons and aircraft in the war zone.

While the market for military radar systems is expected to grow over the forecast period, it remains susceptible to the prevailing economic situations. The result of economic slowdown has affected military spending in many countries, hindering the growth opportunities for defense market at large.
European countries, such as Germany, UK, and Russia have observed cut down in defense expenditure owing to the financial crises and macroeconomic conditions. Furthermore, the development of space-based radars involves considerable expenditure on R&D activities, engineering, and production.

Hexa Research has segmented the global military radar systems market based on platform, application and region:
Segmentation by platform, 2014 - 2024 (USD Billion)
• Ground-Based
• Naval
• Airborne
• Space-based
Segmentation by application, 2014 - 2024 (USD Billion)
• Weapon guidance system
• Surveillance
Segmentation by region, 2014 - 2024 (USD Billion)
• North America
• U.S.
• Asia Pacific
  • China
  • India
• Europe
  • France
  • UK
Key players analyzed
• Lockheed Martin Corporation
• Boeing
• Northrop Grumman Corporation
• Raytheon Company
• Saab Sensis Corporation
• BAE System PLC
• Airbus Group
• General Dynamics Corporation
• Leonardo DRS
• Harris Corporation

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