Canada Smart Home Market Overview, 2028

Canada Smart Home Market Overview, 2028

Canada's smart home industry is changing quickly and dynamically as a result of a number of factors, including customer preferences, technological improvements, and growing awareness of the advantages of home automation. Canada, one of the most developed countries in the world, is leading the way in adopting smart home technology, which is fostering the growth of the industry. The smart home market in Canada is notable for its openness to new ideas and advancements in technology. Canada has excellent infrastructure and a high internet penetration rate, which puts them in a good position to embrace and incorporate smart devices into their homes. The core of the smart home ecosystem is this pervasive connectivity, which allows for seamless control and communication of a range of smart appliances, security systems, and energy management programs. The market for smart homes has also been significantly shaped by the increased interest in sustainability and energy efficiency among Canadians. Many Canadians are looking for ways to minimize their energy use and carbon impact because they are very conscious of environmental issues. In this context, smart lighting controls, thermostats, and home energy monitoring systems have become popular because they empower homeowners to reduce greenhouse gas emissions by making informed decisions about their energy use. Moreover, the environment and regional demands that distinguish the Canadian smart home market are diverse. Smart home solutions need to take into account a wide range of environmental elements and human requirements, from the harsh winters of the northern territories to the gentler temperatures of the southern territories. As of their diversity, Canadians can now effectively manage their heating and cooling systems regardless of the climate in which they live. This has spurred innovation in the creation of smart climate management systems.

According to the research report ""Canada Smart Home Market Overview, 2028,"" published by Bonafide Research, the Canada Smart Home market was valued more than USD 3 Billion in 2022. Home security is a top priority for Canadian customers, which makes the smart home security industry a significant player in the market. Smart locks, smart surveillance cameras, and complete security systems have seen substantial investment due to worries about property protection and personal safety. Because these security systems are frequently linked with smartphone apps, homeowners can watch and control their property from a distance. In addition to improving the market, this emphasis on security and safety gives Canadians more convenience and peace of mind. Canada is home to a wide variety of smart home ecosystems developed by several domestic and foreign firms as well as corporate behemoths like Apple, Google, and Amazon. Customers may effortlessly integrate and control a variety of smart devices within their homes, fostering a sense of compatibility and convenience. Numerous well-known technology centers are located in Canada, including the ""Tech Corridor"" in Toronto and the ""Silicon Valley of the North"" in Waterloo, Ontario. Modern smart home solutions are developed as a result of the collaboration and creativity that these innovation centers and smart home tech firms foster. In certain cities, especially major ones like Toronto, Vancouver, and Montreal, integrated transit systems and smart city projects are linked to the smart home industry. Because of this connectivity, people may enjoy a more integrated and whole-hearted experience, easily integrating their smart homes with their wider urban lives.

In terms of product type market is divided into security and access control, lighting control, entertainment system, HVAC control, smart speakers, smart home appliances, smart kitchen appliances, smart home healthcare systems, smart furniture, and others. Among them smart speakers segment is expected to growing at rapid pace in Canada smart home market during the forecast period. Smart speakers with voice assistants such as Amazon's Alexa, Google Assistant, and Apple's Siri provide a straightforward way to control numerous smart home devices using natural language instructions. Canadians value hands-free and seamless control over their smart homes, which complements their hectic lifestyles. Smart home technology is becoming increasingly popular in Canada. As more households engage in smart devices such as thermostats, lighting, and security systems, there is a greater need for a central hub for controlling these devices, and smart speakers fill this role well. Smart speakers are frequently built to be compatible with a wide variety of smart devices and platforms. This interoperability simplifies the integration of multiple smart device brands and types, making the smart home ecosystem more user-friendly and convenient. Based on protocols market include wireless protocols, wired protocols, and hybrid protocols. Among them wireless protocols segment is expected to register highest growth rate in Canada smart home market. Wireless protocols offer a scalable and adaptable approach for growing and personalizing smart home ecosystems. Users may add and remove devices with ease, making it an appealing alternative for homeowners who want to adapt and grow their smart homes over time. Wireless smart home gadgets are often less difficult to install, making them more accessible to a wider spectrum of users. This simple installation procedure fosters acceptance among individuals who lack significant technological abilities. Smart thermostats, lighting controls, and occupancy sensors are all supported via wireless protocols. Given Canada's emphasis on energy conservation and sustainability, these features are in line with national objectives and contribute to the segment's growth.

Based on application market is divided into new construction and retrofit. Retrofit application is expected to grow at fastest rate in Canada smart home market during the anticipated time frame. There are many older homes and buildings in Canada, many of which were not originally designed with smart home technology in mind. Retrofitting existing properties allows you to modernize and upgrade old homes with smart gadgets, which aligns with many homeowners' desire to stay in their current homes. Retrofitting existing homes with smart technology is frequently less expensive than developing new smart homes from scratch. Smart gadgets can be introduced gradually by homeowners as their budget allows, making them a cheap and accessible alternative for a wide spectrum of consumers. The sales channel of the market include direct and indirect. Indirect channel is predicted to grow at significant pace in Canada smart home market. Indirect channels, such as retailers and online marketplaces, offer a wide and diverse range of smart home products. Consumers can find a multitude of devices, brands, and technologies in one place, simplifying the shopping experience and encouraging the purchase of complementary products. Manufacturers benefit from having their products available through indirect suppliers, as these suppliers have large customer bases and expansive marketing reach. This exposure helps manufacturers promote their products and reach a broader audience. Based on software and services segment market is bifurcated into behavioral and proactive. Among them proactive software and services type is predicted to grow at fastest rate in Canada smart home market.

Considered in this report:
• Geography: Canada
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• Canada Smart Home market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product:
• Security and Access Control
• Lighting Control
• Entertainment System
• HVAC Control
• Smart Speakers
• Smart Home Appliances
• Smart Kitchen Appliances
• Smart Home Healthcare Systems
• Smart Furniture
• Other Controls

By Protocols:
• Wireless Protocols
• Wired Protocols
• Hybrid Protocols

By Application:
• New Construction
• Retrofit

By Sales Channel:
• Direct
• Indirect

By Software & Services:
• Behavioral
• Proactive

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Smart Home industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.