Window Automation Market Size

Window Automation Market Size

Window Automation Market size was over USD 5 billion in 2017 with a CAGR of over 6 percent from 2018 to 2024.
 

Growing penetration of IoT technology in home automation systems is expected to propel the window automation market growth over the forecast timespan. Customers are increasingly using IoT solutions for purposes such as energy monitoring, comfort, convenience, security automation, and creating a safe living environment. The adoption of technology in the industry enables the manufacturers to produce cost-effective and easy-to-use solutions. Companies are developing technologically-advanced sensor components to automate the entry and exit in the homes.

Increasing spending on infrastructure in countries including Russia, Brazil, China, and India is anticipated to drive the window automation market. Growing penetration of Internet across the globe is encouraging the governments to undertake infrastructure development projects pertaining to smart buildings, accelerating the industry growth. For instance, the government of India has initiated the Gujrat International Finance Tech City (GIFT) worth USD 20.0 billion. The project includes the construction of infrastructure with advanced technology including building automation in commercial buildings.

Growing popularity of low-cost daylight systems will restrain the window automation market growth in the next six years. Daylight systems provide internal lighting using sunlight during the daytime. Furthermore, these systems increase the visual comfort and reduce the lifetime energy consumption of the building. Commercial spaces are increasingly using these systems to reduce the costs associated with energy consumption.