Smart Home Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Smart Home Market
The smart home market size was valued at USD 80.21 billion in 2022, and the market is now projected to grow from USD 93.98 billion in 2023 to USD 338.28 billion by 2032, exhibiting a CAGR of 20.1% during the forecast period of 2022-2030.
COVID-19 and lockdown limitations have contributed to the fast increase of the home automation quarter. As a result, different companies joined the enterprise. The industry has increased to consist of low-value, midrange and access-stage domestic automation answers, driven via developing internet sales and new companies.
The Internet of Things is one of the most critical marketplace drivers. At home, IoT-primarily based technology gives electricity-saving skills. GSMA Intelligence predicts that by using 2025, there might be around 25 billion IoT connections globally, up from 10.3 billion in 2018. In the next years, high-pace technologies like 5G will allow big clusters of sensors, devices, and objects to attach. As the variety of IoT devices grows, the smart home market growth is predicted to increase faster.
Interoperable smart devices communicate across manufacturers and types. The want for a smart home atmosphere that integrates all gadgets easily and requires no further programming or setup is growing. This is finished thru using communication protocols together with Wi-Fi, Zigbee, and Matter. Companies also are introducing clever gadgets that require less electricity while retaining their performance. The devices consist of electricity-green additives which include LEDs, low-power CPUs, and strength-saving algorithms.
Comprehensive Analysis of Smart Home Market
The market is divided into protection and security gadgets, electricity and water control, climate manage, lighting fixtures manipulate, and consumer electronics. Consumer electronics is predicted to hold the biggest market share because of clever assistants and speakers. Energy and water manage is predicted to document the highest CAGR due to comfort. The housing marketplace is divided into unmarried own family dwelling and multi-own family living, with the multi-own family living phase expected to preserve the most important market share due to technological advancements and steady community connection.
The North America region lead the smart home market share by benefitting a market size of USD 27.06 billion in 2022 due to due to essential players along with Amazon Inc., Apple Inc., Honeywell International Ltd., and Sony Corporation make contributions to the market's increase. The region's marketplace is seeing expansion because to elevated utilization of crucial conversation technologies such Wi-Fi, Bluetooth, Zigbee, Matter, NFC, and the future 5G network.
Major market contributors encompass Emerson Electric Co., Honeywell International, Schneider Electric S.E., and Samsung Group. These firms invest considerably in R&D to provide superior services and products to their clients.
In January 2023, Apple plans to launch a decrease-cost tablet just like the iPad and an advanced version of the Apple TV to extend its clever home marketplace proportion. This invention poses an assignment to Google and Amazon, the modern-day market leaders in voice-enabled clever home gadgets.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019 – 2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023 – 2030
Historical Period 2019 – 2021
Growth Rate CAGR of 20.1% from 2023 to 2030
Unit Value (USD billion)
Segmentation By Device Type, Housing Type, and Region
By Device Type Safety and Security Devices
Energy and Water Control
Climate Control
Lighting Control
Consumer Electronics
By Housing Type Multifamily Dwelling
Single Family Dwelling
By Region North America
- U.S. (By Device Type)
- Canada (By Device Type)
- Mexico (By Device Type)
South America
- Brazil (By Device Type)
- Argentina (By Device Type)
- Rest of Latin America
Europe
- U.K. (By Device Type)
- Germany (By Device Type)
- France (By Device Type)
- Italy (By Device Type)
- Spain (By Device Type)
- Russia (By Device Type)
- Benelux (By Device Type)
- Nordics (By Device Type)
- Rest of Europe
Middle East & Africa
- Turkey (By Device Type)
- Israel (By Device Type)
- GCC (By Device Type)
- South Africa (By Device Type)
- North Africa (By Device Type)
- Rest of Middle East & Africa
Asia Pacific
- China (By Device Type)
- Japan (By Device Type)
- India (By Device Type)
- South Korea (By Device Type)
- ASEAN (By Device Type)
- Oceania (By Device Type)
- Rest of Asia Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Smart Home Key Players Market Share/Ranking, 2022
- 5. Global Smart Home Market Size Estimates and Forecasts, By Segments, 2019-2030
- 5.1. Key Findings
- 5.2. By Housing Type (USD)
- 5.2.1. Multifamily Dwelling
- 5.2.2. Single-family Dwelling
- 5.3. By Device Type (USD)
- 5.3.1. Safety & Security Devices
- 5.3.2. Energy & Water Control
- 5.3.3. Climate Control
- 5.3.4. Lighting Control
- 5.3.5. Consumer Electronics
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. South America
- 5.4.3. Europe
- 5.4.4. Middle East & Africa
- 5.4.5. Asia Pacific
- 6. North America Smart Home Market Size Estimates and Forecasts, By Segments, 2019-2030
- 6.1. Key Findings
- 6.2. By Housing Type (USD)
- 6.2.1. Multifamily Dwelling
- 6.2.2. Single-family Dwelling
- 6.3. By Device Type (USD)
- 6.3.1. Safety & Security Devices
- 6.3.2. Energy & Water Control
- 6.3.3. Climate Control
- 6.3.4. Lighting Control
- 6.3.5. Consumer Electronics
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.1.1. By Device Type
- 6.4.2. Canada
- 6.4.2.1. By Device Type
- 6.4.3. Mexico
- 6.4.3.1. By Device Type
- 7. South America Smart Home Market Size Estimates and Forecasts, By Segments, 2019-2030
- 7.1. Key Findings
- 7.2. By Housing Type (USD)
- 7.2.1. Multifamily Dwelling
- 7.2.2. Single-family Dwelling
- 7.3. By Device Type (USD)
- 7.3.1. Safety & Security Devices
- 7.3.2. Energy & Water Control
- 7.3.3. Climate Control
- 7.3.4. Lighting Control
- 7.3.5. Consumer Electronics
- 7.4. By Country (USD)
- 7.4.1. Brazil
- 7.4.1.1. By Device Type
- 7.4.2. Argentina
- 7.4.2.1. By Device Type
- 7.4.3. Rest of South America
- 8. Europe Smart Home Market Size Estimates and Forecasts, By Segments, 2019-2030
- 8.1. Key Findings
- 8.2. By Housing Type (USD)
- 8.2.1. Multifamily Dwelling
- 8.2.2. Single-family Dwelling
- 8.3. By Device Type (USD)
- 8.3.1. Safety & Security Devices
- 8.3.2. Energy & Water Control
- 8.3.3. Climate Control
- 8.3.4. Lighting Control
- 8.3.5. Consumer Electronics
- 8.4. By Country (USD)
- 8.4.1. United Kingdom
- 8.4.1.1. By Device Type
- 8.4.2. Germany
- 8.4.2.1. By Device Type
- 8.4.3. France
- 8.4.3.1. By Device Type
- 8.4.4. Italy
- 8.4.4.1. By Device Type
- 8.4.5. Spain
- 8.4.5.1. By Device Type
- 8.4.6. Russia
- 8.4.6.1. By Device Type
- 8.4.7. Benelux
- 8.4.7.1. By Device Type
- 8.4.8. Nordics
- 8.4.8.1. By Device Type
- 8.4.9. Rest of Europe
- 9. Middle East & Africa Smart Home Market Size Estimates and Forecasts, By Segments, 2019-2030
- 9.1. Key Findings
- 9.2. By Housing Type (USD)
- 9.2.1. Multifamily Dwelling
- 9.2.2. Single-family Dwelling
- 9.3. By Device Type (USD)
- 9.3.1. Safety & Security Devices
- 9.3.2. Energy & Water Control
- 9.3.3. Climate Control
- 9.3.4. Lighting Control
- 9.3.5. Consumer Electronics
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.1.1. By Device Type
- 9.4.2. Israel
- 9.4.2.1. By Device Type
- 9.4.3. GCC
- 9.4.3.1. By Device Type
- 9.4.4. North Africa
- 9.4.4.1. By Device Type
- 9.4.5. South Africa
- 9.4.5.1. By Device Type
- 9.4.6. Rest of MEA
- 10. Asia Pacific Smart Home Market Size Estimates and Forecasts, By Segments, 2019-2030
- 10.1. Key Findings
- 10.2. By Housing Type (USD)
- 10.2.1. Multifamily Dwelling
- 10.2.2. Single-family Dwelling
- 10.3. By Device Type (USD)
- 10.3.1. Safety & Security Devices
- 10.3.2. Energy & Water Control
- 10.3.3. Climate Control
- 10.3.4. Lighting Control
- 10.3.5. Consumer Electronics
- 10.4. By Country (USD)
- 10.4.1. China
- 10.4.1.1. By Device Type
- 10.4.2. India
- 10.4.2.1. By Device Type
- 10.4.3. Japan
- 10.4.3.1. By Device Type
- 10.4.4. South Korea
- 10.4.4.1. By Device Type
- 10.4.5. ASEAN
- 10.4.5.1. By Device Type
- 10.4.6. Oceania
- 10.4.6.1. By Device Type
- 10.4.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Apple Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Amazon Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Centrica Connected Home Limited
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Emerson Electric Co.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. General Electric Company
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Honeywell International Inc.
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Samsung Electronics Co. Ltd.
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Schneider Electric SE
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Sony Corporation
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Johnson Controls
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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