KNX Products Market Size, Share, Growth, and Industry Growth, By Type (Energy Management, HVAC Systems, Blinds & Shutters, Metering, Remote Control, Monitoring Systems, Fire & Smoke Detection, White Goods, Lighting, and Others), By Application (Commercial Building, Residential Building, and Others), Regional Forecast To 2031

Updated On: 01 April 2024

KNX Products Market REPORT OVERVIEW

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The global KNX products market size was USD 6178 million in 2022 and is projected to touch USD 19314.81 million by 2031, exhibiting a CAGR of 13.5% during the forecast period.

KNX is the open standard for commercial and domestic building automation KNX devices can manage lighting, security systems, energy management, audio, video, displays, remote control, and others and have several applications ranging from radio and power-line networking to I.P. (Ethernet) and twisted pair wiring. KNX products are also used in sensors, actuators, controllers, and others. KNX devices are not based on a specific hardware network, and the KNX standard is approved by European standard, U.S. standard, China, and the International standard.

The KNX technology is multi-functional, compact, and powerful. It is also used in interfaces, L.E.D. lamps, and almost every technical aspect. Some features of the architecture segment in KNX products are a communication system with a message protocol, modeling and schemes, and configuration for managing resources on a network. KNX products are also used in household devices along with corporate buildings. The use of KNX products in households is making way for more intelligent homes and control mechanisms.

COVID-19 Impact:  Lockdowns Accelerated Product Demand

With the pandemic disrupting several production lines, KNX products saw the opposite, as the demand for various devices increased worldwide as the lockdowns prevailed. The use of KNX in several networks and devices accelerated the KNX product market demand. From radio to I.P., the wide range of applications of KNX, its use shot up exponentially. As the world becomes more digital and compact, the need for KNX will intensify as companies look to diversify their options by introducing newer technology and innovations in the market.

LATEST TRENDS

"With Launch of Meteodata Weather Station, Weather Predictions to Become Easier "

The launch of the meteodata weather station will drive the market growth as the new, integrated technology and convenient glare will make it simpler to predict weather conditions. It will be easier for companies to predict forecasts for a particular day, as the sensors installed in the weather station are proven to return accurate results. The KNX meteodata weather station is built with sensors and a G.P.S. receiver.

KNX Products Market SEGMENTATION

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• By Type

Based on type, the market categorizes energy management, HVAC systems, remote control, blinds & shutters, metering, monitoring systems, fire & smoke detection, lighting, and others.

Remote control and smoke & fire detection are the top parts of the type segment.

• By Application

Based on application, the market categorizes commercial buildings, residential buildings, and others.

Residential building is the leading part of the application segment.

DRIVING FACTORS

"Easy Installations and Secure Systems to Increase Market Growth"

With KNX being used in an array of products and devices, the process for installation of KNX in software has become effortless. Along with being flexible and secure, KNX is a future-proof technology as innovations continue to dominate the KNX products market growth. With homes and offices requiring KNX to make their environment smart, the market for the product is set to grow at unprecedented levels.

"Integrated Solutions for Home Use to Accelerate Market Growth"

The automation building technology of KNX is independent of any hardware or software technology, thus making it suitable for household use. With the main application of KNX being in residential buildings, the KNX installation can be adapted to newer needs that emerge with improving technology in the market with little investment and time KNX is the go-to solution for every problem, from tiny houses to large buildings.

RESTRAINING FACTORS

"Increased Cost of Installations to Impede Market Growth"

The sensors used in controllers and actuators require a tremendous amount of cabling, which will increase the installation cost due to better and improved designs. This may likely impede market growth, and higher cabling could also lead to an increased fire risk, which could be dangerous at times. Thus, investors must consider these factors before installing KNX in residential or commercial buildings and take appropriate precautions.

KNX Products Market REGIONAL INSIGHTS

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"Europe to Dominate Market Share Owing to Innovative Solutions"

As various innovations emerge, the European region will dominate the KNX products market share. The demand for KNX products will drive the market share to exponentially higher levels as technology like the Metaverse seeks to build its brand on the KNX technology. Europe and North America will dominate the market share with a 60% stake. Recent mergers and acquisitions in the market will lead the market growth further. Thus, investors must check Europe, as major key industrial players are based in the region.

KEY INDUSTRY PLAYERS

The report analyzes different market players in the industry. The information is published after proper research, analysis of trends, key developments, the introduction of new initiatives, and technological developments and innovations. Other aspects of the report include a study on the companies, regions, automation, technological developments, and the impact of newly emerging industries along with their risks. The facts in the report may be subject to change, given the situation of market players from time to time. Europe will lead the industry with the largest share.

List of Market Players Profiled

• Schneider (France)
• ABB (Switzerland)
• SIEMENS (Germany)
• Hager (Berker) {Germany}
• Legrand (France)
• Somfy (France)
• JUNG (Germany)
• GIRA (Germany)
• HDL (U.S.)
• STEINEL (Switzerland)
• Urmet (Italy)
• GVS (Italy)
• B.E.G. (India)
• DALITEK (U.S.)
• JOBO Smartech (China)
• Tiansu (China)
• Theben AG (Germany)
• Rishun Technology (Germany)

INDUSTRY DEVELOPMENT

June 2022: Siemens and NVIDIA will expand their partnership by building upon the industrial Metaverse. This will be done by pairing digital models of Siemens with the real-time A.I. of NVIDIA. The industrial Metaverse will bring workers worldwide to collaborate and solve issues if anything goes wrong during manufacturing or production. Siemens Xcelerator and NVIDIA Omniverse will be the leading platforms involved in the innovation. 

REPORT COVERAGE

The report examines elements that affect the demand and supply and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, the latest trends, and industrial developments. After evaluating financial and technical market factors, the report provides exhaustive PEST and SWOT analysis. The research is subject to alteration if the key players and analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.