Global KNX Products Market Forecast, Trend Analysis And Competition Tracking - Market insights 2015 to 2031

KNX Products Market: Introduction

KNX is a technology that controls the overall function of automation in several residential, commercial, industrial buildings, and outdoor settings. KNX devices manage HVAC, lighting systems, multimedia, security, energy management, etc. Devices manufactured according to these standards are known as KNX products. These product installations consist of devices such as sensors, actuators, etc., that are either connected to the bus or network. KNX standards for different regions or countries are listed below:

Global KNX Products Market Revenue Outlook:

The Global KNX Product Market was valued at US$ 20.20 Bn in 2020 and is projected to register а САGR of 10.9% by 2031.

Nonetheless, various industry players in the global KNX products market are now increasing their focus towards the establishment of successful collaborations, acquisitions, and joint venture activities as a means to enhance their respective customer bases. In doing so, these players are also increasing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

What is Driving Demand for KNX Products?

Booming population figures and rapid urbanization have led to increased infrastructure developments in residential and commercial spaces with automated products such as KNX products for lighting control, security systems, and others. In addition, rising demand for smart homes and buildings, particularly in developed economies of the world such as the US, Japan, Germany, and certain developing economies, including China, with a view towards energy conservation, is also expected to fuel demand for KNX products over the forecast period.

Top Countries Smart Homes Adoption Rate (%), 2020

 Fuctions of KNX Products

Opportunities for the manufacturer of the KNX Products

The introduction of KNX metering solutions to reduce the rising cost of electricity and increase energy efficiency is expected to provide lucrative opportunities to the manufacturers operating in this target market.  Moreover, several companies are now focusing on adopting multiple strategic policies to expand the scale of their business on a global scale. Policies such as strategic mergers & acquisitions, joint ventures, and partnerships with other companies. This is generally carried out to develop new products and expand existing product portfolios to maintain their respective market positions. This is also another factor that is expected to improve the financial development further and provide revenue growth opportunities trajectory for suppliers and manufacturers over the forecast period.

Factors limiting the revenue growth of KNX products market

The cost of building a KNX system is high, especially in built-up houses, as new cables and pipes need to be installed on the wall, connected to each wall switch, sensor, light point or socket. In addition, it also requires specific computer ETS software from professional installers. This factor is expected to limit the revenue growth for this target industry to a certain extent.

COVID–19 Impact Analysis on Global KNX Products Market

The COVID-19 pandemic has severely impacted several industries, with significant disruption in their day-to-day business operations. The subsequent global lockdown has severely affected economies around the world. On the other hand, shutting down China's production has forced other consumer electronics makers based in the US, Europe, etc., to temporarily hold the finished goods' production. This leads to a global shortage of smart electronics products used for electrical and electronic systems used in home automation that forced major companies to halt or slow production. This is also a factor that is expected to hamper the revenue growth for this target market.

Global KNX Products Market Dynamics

The Global KNX Products Market is segmented based on product type, application, and region. Among the product type segment, the sensors segment is estimated to be the most lucrative segment in this target market, with an estimated revenue share of XX% in 2020 and with a CAGR of approximately 12.0% over the forecast period. Among application segments, the commercial building segment is estimated to contribute 52.4% revenue share in 2020 and is expected to increase revenue at a CAGR of 11.9% during the forecast period.

Among regions, the North American region is anticipated to hold the highest share due to the huge consumer base for smartphones and other smart electronics. The North America market is estimated to contribute XX% revenue share in 2020 and is expected to increase revenue at a CAGR of 11.1% during the forecast period. North America follows the Europe market for KNX products.

Global KNX Products Market Competitive Landscape

Some of the leading manufacturers operating in the KNX Products market include

• Siemens AG
• Schneider Electric SE
• ABB Ltd.
• Legrand SA
• Hager Group
• Somfy
• GIRA
• JUNG
• HDL
• JOBO Smartech
• Other Key Industry Players

Some notable developments in the market include:

• According to Smart Home Week survey, 57% of households in the UK own smart devices. Moreover, there are 2.22 million smart homes in the UK.
• In 2020, JUNG Introduced New 4-Gang KNX LED Universal Dimming Actuator with high functionality in a compact design and can be interfaced between the bus system and the lighting.

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Key Segments Covered

KNX Products Market, By Product Type

• Sensors
• Actuators
• System Components
• Other Product Types

KNX Products Market, By Application

• Commercial Building
• Residential Building
• Other Applications