Rising Customer Demand for Security Providing Lucrative Opportunities For Home Automation Market
The home automation market is one of those companies that thrived even during the recent pandemic. Consumer demand has driven and will continue to drive the market for years to come. Home automation is utilization of intelligent terminals to control home appliances and equipment. It includes but is not limited to centralized control of lighting, security checks/locks for home access, HVAC control, and others. Home automation is also known as smart home automation, which is an automation system, which offers access to control appliances and devices such as lights, fan, alarm system, heating & cooling systems, and electrical outlets with a smartphone. An automated home provides numerous benefits to end-users, such as reduced energy spending, security from theft, and protection from unauthorized access to the home. The solutions are gaining popularity in the residential and hospitality sectors, to protect their personal and commercial assets such as buildings, hardware infrastructures, personal belongings, and others. A report projected that the home automation market size was valued at $46,607.1 million in 2020, and is expected to reach $239,897.8 million by 2030, registering a CAGR of 17.6% from 2021 to 2030. The report said: “The home automation market is driven by the increase in demand for energy-efficient solutions, substantial growth in the IoT market, convenience & ease of usage, technological advancements, increase in number of smartphone users, and surge in security concerns. The market experiences limitations due to excessive cost of automated homes and lack of awareness in some developing & under-developed regions. Increase in adoption of automated services and government incentives for green initiatives is opportunistic for the home automation market growth. Moreover, the need for energy-efficient solutions and rise in demand for safety & security for homes are the major factors that are expected to boost the demand for home automation market.” Active companies in the markets this week include: SKYX Platforms Corp. (NASDAQ: SKYX), Uber Technologies, Inc. (NYSE: UBER), Apple Inc. (NASDAQ: AAPL), Tesla, Inc. (NASDAQ: TSLA), Snowflake (NYSE: SNOW).
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The report continued: “The home automation market was hampered during the outbreak of COVID-19 pandemic owing to regulation on logistic services. However, the demand for smart homes operated with home automation is growing significantly with increase in awareness and adoption of concept of smart homes and home automation. Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This led to decline in manufacturing of home automation as well as their demand in the market, thereby restraining the growth of the home automation market. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of home automation companies at their full-scale capacities, which… help(ed) the home automation market to recover by mid of 2022.”
SKYX Platforms Corp. BREAKING NEWS: SKYX Platforms to Introduce its Upcoming Gen-1 Game-Changing Platform Technology Video Demo – The Gen-1 specifications received a historical approval vote by ANSI / NEMA for a plug & play ceiling outlet/receptacle for safe installation of lighting and ceiling fans.- SKYX Platforms Corp. (d/b/a “Sky Technologies”) (“SKYX,” “we” or “the Company”), a highly disruptive platform technology company with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced the introduction of a demo video of its Gen-1 game-changing ceiling platform technology, the specifications of which just received a historical approval vote by ANSI / NEMA, the leading U.S. standardization organizations for homes, buildings and the electrical industry.
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Hundreds of millions of lengthy installations of light fixtures take place, all while people risk their lives by touching hazardous electrical wires while standing on ladders. These risks result in millions of hazardous incidents including shorts, fires, falls from ladders, electrocutions, injuries and death. These hazardous incidents can be greatly reduced or even eliminated by using the SKYX plug and play ceiling outlet receptacle. The SKYX technology simplifies the installation process while significantly reducing both time and cost, as well as substantially reducing hazardous incidents, injuries, and death.
The specifications of the new SKYX safe weight-supporting plug & play ceiling outlet/receptacle were approved by the U.S. leading home and building standardization organizations, the American National Standards Institute (“ANSI”) and the National Electrical Manufacturers Association (“NEMA”). Below is the video demo link of SKYX’s Gen-1 product including the ANSI / NEMA approved safe plug & play ceiling outlet/receptacle.
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