KNX Products Market is projected to Reach US$ 34.715 Million by 2030, at a CAGR of 11.1% during the forecast period 2023

According to a market research study published by Contrive Datum Insights, Europe has the most shares, and it is projected to grow at a compound annual growth rate (CAGR) of 15.7% over the next five years, Asia-Pacific is the second largest region, and it is projected to reach USD 10 Billion

Farmington, March 13, 2023 (GLOBE NEWSWIRE) -- The Global KNX Product Market Size In 2022 Is USD 12.867 Million. It Is Projected To Reach A Projected Value Of USD 34.715 Million By 2030, Growing At A CAGR Of 11.1% During The Forecast Period 2022-2030. KNX is the open standard for building control in both businesses and homes. KNX devices can handle lighting, security systems, energy management, audio, video, displays, remote controls, and more. They have features like I.P. (Ethernet) and twisted pair wiring, as well as radio and powerline networking. Products made with KNX are also used in sensors, actuators, computers, and other places. KNX devices are not built on a specific hardware network, and the KNX standard is recognized by European, American, Chinese, and international standards.

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KNX technology is flexible, small, and strong. It is also used in interfaces, L.E.D. lights, and almost every other part of electronics. Some of the things that make up the architectural part of KNX products are communication systems with message protocols, modeling and schemes, and configurations for handling network resources. Products made by KNX are also used in both home and business buildings. When KNX goods are used in the home, smarter homes and control systems can be made.

KNX Products Market Recent Developments:

June 2022: Siemens and NVIDIA will expand their partnership by building an industrial metaverse. This will be done by combining Siemens' digital model with real-time artificial intelligence. Nvidia. If any issues arise during manufacturing or production, the Industrial Metaverse enables workers around the world to collaborate and resolve issues. Siemens Xcelerator and NVIDIA Omniverse will be leading platforms to engage in innovation.

December 2020, Siemens Acquires J2 Innovations: Siemens announced the acquisition of J2 Innovations, a provider of software frameworks for building automation and IoT applications. The acquisition is expected to strengthen Siemens' capabilities in the KNX product market and strengthen its position as a leading supplier of building automation solutions.

September 2021, ABB Launches New KNX Room Controller: ABB, a leading provider of smart building solutions, has launched a new KNX Room Controller, the ABB i-bus KNX Room Master. The controller provides a flexible and scalable solution for managing building automation systems including lighting, HVAC and shading.

November 2020, Schneider Electric Launches New KNX Gateway: Schneider Electric announces the launch of a new KNX gateway, the KNX IP interface. This gateway provides seamless integration between KNX systems and other building automation protocols such as BACnet and Modbus.

KNX Products Market Dynamics:

Drivers:

Concerns about running out of resources and climate change make energy efficiency a very important problem for society. Buildings use 40% of all the energy we use, so there is a big opportunity to save energy there. Buildings that have the KNX home and automation control system make sure that energy is used efficiently and saves money. KNX products meet the standards of the highest energy efficiency classes for building automation according to EN 1522. Because KNX can save up to 50% of energy, it is the perfect way for buildings to meet their strict energy consumption requirements. Most western parts of the world and developing economies don't know enough about the benefits of KNX products, which is likely to slow the growth of the KNX products market over the next few years. With a market share of over 70%, KNX has a high market entry rate in Europe. In the US and other places like it, KNX goods face tough competition from Z-Wave and ZigBee because they are expensive, hard to use, and don't work wirelessly.

Opportunity:

KNX is likely to become the best home control system in the world, and connecting it to the Internet of Things will make this even more likely. KNX is expected to give KNX IoT manufacturers and system integrators future possibilities in IoT technology and the latest IoT advances. Because of these chances, KNX makers can add more uses for their products in areas like energy storage, smart meters, energy management, mobility, renewable energy, and smart grids. The KNX IoT solution will make the current KNX ecosystem ready to work right out of the box. It will also allow advanced configuration and customization to meet unique customer or operational needs. With IoT integration, a KNX installation can be linked by giving a URL and credentials like a login and password.

Regional Outlook:

Europe has the most shares, and it is projected to grow at a compound annual growth rate (CAGR) of 15.7% over the next five years. Germany is still the biggest single market in the area. In Europe, KNX is the most popular smart home system. In the European market for home automation, many setups will use more than one protocol, and each protocol has its own pros and cons. In Germany, for example, KNX controls 56% of the market for home automation. The market for home technology in the UK is going to grow. But compared to other developed European countries like Germany, Belgium, and the Netherlands, it is still in its early stages. This is driving growth in the area. Asia-Pacific is the second largest region, and it is projected to reach USD 10 billion by 2020, with a CAGR of 16.0% during the forecast period. Home control systems are slowly becoming more popular in India as people become more tech-savvy. In India, the market for home automation is expected to grow at a rate of 20–25% over the next 5–6 years. This should create a lot of possibilities for KNX products on the Indian market. In the Asia-Pacific area, smart buildings are being worked on by big names like ABB, Higer, Schneider, and Siemens. Also, KNX has a 42% part of China's home solutions market. KNX was mostly made by big smart building suppliers in China and Europe. Also, more and more Chinese businesses are starting to focus on KNX technology, make KNX products, and offer KNX solutions.

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Scope of Report:

Report Attributes

Details

Growth Rate

11.1 % from 2023 to 2030

Market Size in 2022

USD 12.867 Million

Revenue Forecast by 2030

USD 34.715 Million

By Type

Sensors

Actuators

System Components

Other

By Applications

Commercial Building

Residential Building

Others

By Companies

Schneider, ABB, SIEMENS, Hager (Berker), Legrand, Somfy, JUNG, GIRA, HDL, STEINEL, Urmet, GVS, B.E.G., Bonzi, JOBO Smartech, Tiansu, Theben AG, Rishun Technology., and Others

Base Year

2022

Historical Year

2017 to 2021

Forecast Year

2023 to 2030

KNX Products Market Key Segments Covered:

Top Market Players: Schneider, ABB, SIEMENS, Hager (Berker), Legrand, Somfy, JUNG, GIRA, HDL, STEINEL, Urmet, GVS, B.E.G., Bonzi, JOBO Smartech, Tiansu, Theben AG, Rishun Technology., and Others.

KNX Products Market by Types:

Sensors

Actuators

System Components

Other

KNX Products Market by Applications:

Commercial Building

Residential Building

Others

Regions and Countries Covered

North America: (US, Canada, Mexico, Rest of North America)

Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)

Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

Latin America: (Brazil, Argentina, Rest of Latin America)

Rest Of the World

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