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Smart Home Market size by Product (Lighting Control, Security & Access Control, HVAC Control, Smart Speaker, Smart Kitchen and Smart Furniture), Software and Services, Sales Channel and Region - Global Forecast to 2028

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from $4,950 499 Pages MarketsandMarkets March, 2023 MKMK17848604
Best Price Guarantee
Price from $4,950
Length 499 Pages
Publisher MarketsandMarkets
Published Date March, 2023
SKU MKMK17848604

Smart Home Market size by Product (Lighting Control, Security & Access Control, HVAC Control, Smart Speaker, Smart Kitchen and Smart Furniture), Software and Services, Sales Channel and Region - Global Forecast to 2028

The smart home market size is valued at USD 101.7 Billion in 2023 and is anticipated to be USD 163.7 Billion by 2028; growing at a CAGR of 10.0% from 2023 to 2028. Factors such as the Expansion of smart home product portfolio by large number of players, and Growing concern about safety, security, and convenience among general population are driving the growth of the market during the forecast period.

Expansion of smart home product portfolios by large number of players

The smart home industry involves a wide range of manufacturers worldwide, including those who produce components, devices, systems, software algorithms, and service providers. Tech giants such as Samsung, Amazon, Google, and Apple have introduced innovative products like SmartThings, Echo, Home, and HomeKit for the smart home market. In January 2023, Apple launched HomePod Gen 2, which allows users to monitor temperature, humidity, establish smart home automation with Siri, and receive notifications during the detection of smoke alarm. Due to the convenience, energy efficiency, and cost-saving benefits offered by home automation solutions, homeowners are adopting them on a large scale. Lighting control, HVAC controls, and security and access products have a high penetration rate in North America and Europe. As a result, manufacturers of smart home products are expanding their portfolios to cover different application areas in a household.

Growing adoption of smart devices and increasing number of internet users

The Internet of Things (IoT) has become increasingly popular among residential consumers due to its ability to connect household products to the internet and provide real-time data and decision-making capabilities. As a result, companies of all sizes are investing heavily in the IoT industry, and it is expected to be applied in a wide range of areas such as lighting, security, healthcare, and entertainment. The growth of the smart home market is driven by the increasing adoption of video doorbells, voice-assisted technologies like Alexa and Google Home, and surveillance systems. The widespread adoption of internet-enabled devices such as RFID, barcode scanners, and mobile computers, which is being driven by the growing number of internet users worldwide, is expected to further boost the IoT market. The penetration rate of the internet has increased significantly in the past decade, especially in developed regions such as according to Internet World Stats as of June 2022, North America and Europe, registered penetration rates of 93.4% and 89.2% respectively, while Asia and Africa registered penetration rates of 67.0% and 43.2% respectively.

Asia Pacific is the fastest-growing region in the smart home market

There is an significant market for smart homes in Asia Pacific, specifically in countries like Japan, South Korea, and China. Among these countries, South Korea has become a significant market for smart home systems due to the high demand for lighting and entertainment controls. China, with its rapidly growing economy and population, is investing heavily in energy-efficient technologies. Meanwhile, South Korea is also a major player in the smart home market for household appliances. Furthermore, the high rate of internet usage in Japanese households is expected to drive the growth of the smart home industry in the Asia Pacific region.

The breakup of primaries conducted during the study is depicted below:

By Company Type: Tier 1 – 40 %, Tier 2 – 40%, and Tier 3 –20%

By Designation: C-Level Executives – 40%, Directors – 40%, and Others – 20%

By Region: North America– 40%, Europe – 20%, Asia Pacific – 30%, Rest of world– 10%

Research Coverage

The report segments the smart home market and forecasts its size, by value, based on region (North America, Europe, Asia Pacific, and RoW), product (lighting control, security & access control, HVAC control, entertainment & other controls, smart speaker, home healthcare, smart kitchen, home appliances, and smart furniture), software & service (behavioral, and proactive), and sales channel (direct sales,and indirect sales). The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the smart home market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Reason to buy Report

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall smart home market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Increasing importance of home monitoring in remote locations, Growing concerns about safety, security, and convenience among general population), restraints (High cost of switching for existing smart device consumers, Issues related to breach in security and privacy breaches), opportunities (Favorable government regulations to promote green buildings, Incorporation of lighting controllers with in-built data-connectivity technology), and challenges (Difficulties linking disparate systems, limited functionality, and lack of open standards) influencing the growth of the smart home market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the smart home market

Market Development: Comprehensive information about lucrative markets – the report analyses the smart home market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the smart home market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Honeywell (US), Siemens (Germany), Johnson Controls (Ireland), Schneider Electric (France), and ASSA ABLOY (Sweden), among others in the smart home market


1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions And Exclusions
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Market Segmentation
1.3.2 Products Covered Under Each Major Category
1.4 Years Considered
1.5 Currency
1.6 Stakeholders
1.7 Summary Of Changes
1.7.1 Recession Impact
2 Research Methodology
2.1 Research Data
Figure 2 Smart Home Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown Of Primaries
2.1.3 Secondary And Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
Figure 3 Research Flow For Market Size Estimation
2.2.1 Bottom-up Approach
Figure 4 Smart Home Market: Bottom-up Approach
2.2.2 Top-down Approach
Figure 5 Market Size Estimation Methodology: Revenue Generated From Smart Home Products Related To Home Automation
Figure 6 Smart Home Market: Top-down Approach
2.2.3 Market Projections
Table 1 Market Growth Assumptions
2.3 Market Breakdown And Data Triangulation
Figure 7 Data Triangulation
2.4 Research Assumptions
2.5 Limitations
2.6 Approach To Analyze Impact Of Recession
2.7 Risk Assessment
3 Executive Summary
Figure 8 Annual Average Growth Rates Of Electricity Demand In Key Regions, 2018–2020
Figure 9 Total Energy Consumption Breakdown, By Region, 2019–2021
Figure 10 Global Share Of Energy And Emissions In Buildings And Construction, 2021
Table 2 Us: New Residential Construction (As Of January 2023)
Table 3 Us: Construction Spending (As Of December 2022)
3.1 Smart Home Market: Recession Impact
Figure 11 Gdp Growth Projections For Major Economies, 2021–2023
Figure 12 Recession Impact On Smart Home Market, 2019–2028 (Usd Billion)
Figure 13 Entertainment & Other Controls To Dominate Market In 2023
Figure 14 Behavioral Segment To Continue To Dominate Market In 2028
Figure 15 Indirect Sales Channel To Register Higher Growth Rate During Forecast Period
Figure 16 Smart Kitchen Segment To Register Highest Growth During Forecast Period
Figure 17 North America To Account For Largest Share Of Smart Home Market In 2023
4 Premium Insights
4.1 Attractive Opportunities In Smart Home Market
Figure 18 Increasing Number Of Internet Users And Growing Adoption Of Smart Devices To Drive Market
4.2 Smart Home Market, By Product, 2023 Vs. 2028 (Usd Million)
Figure 19 Smart Kitchen Segment To Witness Highest Growth During Forecast Period
4.3 Smart Home Market Share For Software & Services, By Type (2023)
Figure 20 Proactive Segment To Hold Larger Share Of Smart Home Market In 2023
4.4 Smart Home Market Share, By Sales Channel (2023)
Figure 21 Indirect Sales Channel To Hold Larger Share Of Smart Home Market In 2023
4.5 North America: Smart Home Market, By Product And Country (2023)
Figure 22 Entertainment & Other Controls Segment To Account For Largest Share Of North American Smart Home Market In 2023
4.6 Smart Home Market: Geographic Growth Opportunities
Figure 23 China To Register Highest Growth In Smart Home Market During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Evolution
Figure 24 Evolution Of Smart Homes
5.3 Market Dynamics
Figure 25 Smart Home Market: Drivers, Restraints, Opportunities, And Challenges
5.3.1 Drivers
Figure 26 Drivers For Smart Home Market And Their Impact
5.3.1.1 Increasing Number Of Internet Users And Growing Adoption Of Smart Devices
Figure 27 Internet Users, By Region (Million)
5.3.1.2 Increasing Disposable Income Of People In Developing Economies
Figure 28 Gdp Per Capita In India And China, 2017–2021 (Usd Thousand)
5.3.1.3 Increasing Importance Of Home Monitoring In Remote Locations
5.3.1.4 Growing Need For Energy-saving And Low Carbon Emission-oriented Solutions
Table 4 Energy-saving Potential Of Lighting Controls
5.3.1.5 Expansion Of Smart Home Product Portfolios By Large Number Of Players
5.3.1.6 Growing Concerns About Safety, Security, And Convenience Among General Population
5.3.2 Restraints
Figure 29 Restraints For Smart Home Market And Their Impact
5.3.2.1 More Convenience-driven Rather Than Necessity-driven Market
5.3.2.2 High Cost Of Switching For Existing Smart Device Consumers
5.3.2.3 Issues Related To Security And Privacy Breaches
5.3.3 Opportunities
Figure 30 Opportunities For Smart Home Market And Their Impact
5.3.3.1 Favorable Government Regulations To Promote Green Buildings
5.3.3.2 Incorporation Of Lighting Controllers With In-built Data-connectivity Technology
5.3.3.3 Integration Of Power Line Communication Technology In Smart Homes
5.3.4 Challenges
Figure 31 Challenges For Smart Home Market And Their Impact
5.3.4.1 Difficulties Linking Disparate Systems, Limited Functionality, And Lack Of Open Standards
5.3.4.2 Risk Of Device Malfunctioning
5.3.4.3 Compatibility Issues Between Devices Of Different Companies
5.4 Supply Chain Analysis
Figure 32 Supply Chain Analysis Of Smart Home Market: Manufacturing And Distribution Phases Add Maximum Value
5.4.1 Planning And Revising Funds
5.4.2 Research & Development (R&D)
5.4.3 Manufacturing
5.4.4 Assembly, Distribution, And After-sales Services
5.5 Ecosystem Analysis
Figure 33 Ecosystem Analysis Of Smart Home Market
Table 5 Key Players And Their Role In Smart Home Ecosystem
5.5.1 Home Automation Oems
5.5.2 Suppliers
5.5.3 Smart Home System Integrators
5.5.4 Distributors
5.6 Trends Impacting Customer Business
Figure 34 Ai In Home Appliances And Robotics To Impact Revenue Of Smart Home Product Manufacturers During Forecast Period
5.7 Porter’s Five Forces Analysis
Table 6 Smart Home Market: Porter’s Five Forces Analysis
Figure 35 Smart Home Market: Porter’s Five Forces Analysis
5.7.1 Intensity Of Competitive Rivalry
5.7.2 Bargaining Power Of Suppliers
5.7.3 Bargaining Power Of Buyers
5.7.4 Threat Of Substitutes
5.7.5 Threat Of New Entrants
5.8 Case Studies
5.8.1 Assa Abloy’s Remote Access Delegation To Buildings Transforms Way Emergency Services Operate Worldwide
5.8.2 Johnson Controls’ Cooling Solution Helps Fiserv Tackle Maintenance Constraints And Achieve Energy Savings
5.8.3 Honeywell’s Security Solution Helps Gateway Building Improve Its Security And Visitor Access System
5.8.4 Siemens Building Technologies Provides Integrated Solutions For Fondation Louis Vuitton Museum In Paris
5.8.5 Adt Renders Advanced Access Control Systems To Port Of Cork
5.9 Technology Analysis
5.9.1 Key Technologies
5.9.1.1 Integration Of Iot And Cloud Connectivity With Smart Home Devices
5.9.1.2 Integration Of Artificial Intelligence (Ai) With Smart Home Systems
5.9.2 Complementary Technologies
5.9.2.1 Adoption Of Adaptive Learning Technology To Enhance Capabilities Of Hvac Control Devices
5.9.2.2 Integration Of Iot With Smart Wearable Devices
5.9.3 Adjacent Technology
5.9.3.1 Penetration Of 5g In Industrial Manufacturing
5.10 Trade Analysis
5.10.1 Import Scenario
5.10.1.1 Import Scenario For Thermostats
Table 7 Import Data For Thermostats (Hs Code 903210), By Country, 2017–2021 (Usd Million)
5.10.1.2 Import Scenario For Burglar/Fire Alarms
Table 8 Import Data For Burglar/Fire Alarms (Hs Code 853110), By Country, 2017–2021 (Usd Million)
5.10.2 Export Scenario
5.10.2.1 Export Scenario For Thermostats
Table 9 Export Data For Thermostats (Hs Code 903210), By Country, 2017–2021 (Usd Million)
5.10.2.2 Export Scenario For Burglar/Fire Alarms
Table 10 Export Data For Burglar/Fire Alarms (Hs Code 853110), By Country, 2017–2021 (Usd Million)
5.11 Patent Analysis
Table 11 Patents In Smart Home Market, 2019–2022
Figure 36 Patents Published For Smart Home Market From 2013 To 2022
Table 12 Number Of Patents Registered In Smart Home Market, 2013–2022
Figure 37 Top 10 Companies With Highest Number Of Patent Applications, 2013–2022
5.12 Tariff And Regulations
Table 13 Mfn Tariffs For Thermostats Exported By Us
Table 14 Mfn Tariffs For Thermostats Exported By China
Table 15 Mfn Tariffs For Burglar/Fire Alarms Exported By Us
Table 16 Mfn Tariffs For Burglar/Fire Alarms Exported By China
5.12.1 Positive Impact Of Tariff On Smart Home Products
5.12.2 Negative Impact Of Tariff On Smart Home Products
5.12.3 Regulations And Standards
5.12.3.1 Standards
5.12.3.2 Regulations
5.12.3.3 Regulatory Framework For Iot And Connected Appliances In Europe, Us, And Latin America
5.13 Average Selling Price (Asp) Of Various Components Of Smart Home Systems
Table 17 Average Selling Price Of Various Components Of Smart Home Systems
Figure 38 Average Selling Price Trend For Video Surveillance Cameras
Figure 39 Average Selling Price Of Smart Kitchen And Home Appliances
6 Smart Home Market For Software & Services, By Type
6.1 Introduction
Figure 40 Smart Home Market For Software & Services, By Type
Table 18 Smart Home Market For Software & Services, By Type, 2019–2022 (Usd Billion)
Figure 41 Proactive Software & Services Segment To Register Higher Growth During Forecast Period
Table 19 Smart Home Market For Software & Services, By Type, 2023–2028 (Usd Billion)
6.2 Behavioral Software & Services
6.2.1 Learns From User Behavior And Recommends Necessary Action
6.3 Proactive Software & Services
6.3.1 Automatically Implements Necessary Action Based On User Behavior
7 Smart Home Market, By Product
7.1 Introduction
Figure 42 Smart Home Market, By Product
Table 20 Smart Home Market, By Product, 2019–2022 (Usd Million)
Figure 43 Smart Kitchen Segment To Grow At Highest Cagr During Forecast Period
Table 21 Smart Home Market, By Product, 2023–2028 (Usd Million)
7.2 Lighting Controls
7.2.1 Market Dynamics
7.2.1.1 Drivers
7.2.1.1.1 Growing Demand For Energy-efficient Lighting Solutions
7.2.1.1.2 Intensifying Need For Energy Conservation And Increasing Efficiency Of Lighting Products
7.2.1.1.3 Increasing Smart City Lighting Initiatives Worldwide
7.2.1.2 Restraints
7.2.1.2.1 Compatibility Issues Associated With Lighting Controls
7.2.1.2.2 Limited Awareness About Benefits Of Lighting Controls
7.2.1.2.3 High Installation Cost
7.2.1.2.4 Security And Privacy Issues Associated With Smart Lighting Control Systems
7.2.1.3 Opportunities
7.2.1.3.1 Consumer Perception Undergoing Paradigm Shift
7.2.1.3.2 Expanding Mood Lighting Segment
7.2.1.3.3 Increasing Demand For Daylight Sensors
7.2.2 Products Considered Under Lighting Controls
Figure 44 Smart Home Market For Lighting Control Products
Table 22 Smart Home Market For Lighting Controls, By Product, 2019–2022 (Usd Million)
Figure 45 Occupancy Sensors To Hold Largest Share Of Smart Home Market For Lighting Controls In 2023
Table 23 Smart Home Market For Lighting Controls, By Product, 2023–2028 (Usd Million)
Table 24 Smart Home Market For Lighting Controls, By Product, 2019–2022 (Thousand Units)
Table 25 Smart Home Market For Lighting Controls, By Product, 2023–2028 (Thousand Units)
Table 26 Smart Home Market For Lighting Controls, By Region, 2019–2022 (Usd Million)
Table 27 Smart Home Market For Lighting Controls, By Region, 2023–2028 (Usd Million)
Table 28 Smart Home Market For Lighting Controls, By Region, 2019–2022 (Thousand Units)
Table 29 Smart Home Market For Lighting Controls, By Region, 2023–2028 (Thousand Units)
7.2.2.1 Relays
7.2.2.1.1 Work As On/Off Switches In Lighting Control Systems
Table 30 Smart Home Market For Relays, By Region, 2019–2022 (Usd Million)
Table 31 Smart Home Market For Relays, By Region, 2023–2028 (Usd Million)
Table 32 Smart Home Market For Relays, By Region, 2019–2022 (Thousand Units)
Table 33 Smart Home Market For Relays, By Region, 2023–2028 (Thousand Units)
7.2.2.2 Occupancy Sensors
7.2.2.2.1 Detect Presence Of Individuals To Switch Lights On/Off
Table 34 Smart Home Market For Occupancy Sensors, By Region, 2019–2022 (Usd Million)
Table 35 Smart Home Market For Occupancy Sensors, By Region, 2023–2028 (Usd Million)
Table 36 Smart Home Market For Occupancy Sensors, By Region, 2019–2022 (Thousand Units)
Table 37 Smart Home Market For Occupancy Sensors, By Region, 2023–2028 (Thousand Units)
7.2.2.3 Daylight Sensors
7.2.2.3.1 Function As Photosensors To Measure Intensity Of Natural Light And Accordingly Adjust Amount Of Artificial Light
Table 38 Smart Home Market For Daylight Sensors, By Region, 2019–2022 (Usd Million)
Table 39 Smart Home Market For Daylight Sensors, By Region, 2023–2028 (Usd Million)
Table 40 Smart Home Market For Daylight Sensors, By Region, 2019–2022 (Thousand Units)
Table 41 Smart Home Market For Daylight Sensors, By Region, 2023–2028 (Thousand Units)
7.2.2.4 Timers
7.2.2.4.1 Used To Turn Lights On/Off Automatically After Pre-specified Time
Table 42 Smart Home Market For Timers, By Region, 2019–2022 (Usd Million)
Table 43 Smart Home Market For Timers, By Region, 2023–2028 (Usd Million)
Table 44 Smart Home Market For Timers, By Region, 2019–2022 (Thousand Units)
Table 45 Smart Home Market For Timers, By Region, 2023–2028 (Thousand Units)
7.2.2.5 Dimmers
7.2.2.5.1 Used To Adjust Brightness In Lighting Control Systems By Means Of Voltage Variation
Table 46 Smart Home Market For Dimmers, By Region, 2019–2022 (Usd Million)
Table 47 Smart Home Market For Dimmers, By Region, 2023–2028 (Usd Million)
Table 48 Smart Home Market For Dimmers, By Region, 2019–2022 (Thousand Units)
Table 49 Smart Home Market For Dimmers, By Region, 2023–2028 (Thousand Units)
7.2.2.6 Switches
7.2.2.6.1 Switches Can Be Categorized As Manual And Remote Controlled
Table 50 Smart Home Market For Switches, By Region, 2019–2022 (Usd Million)
Table 51 Smart Home Market For Switches, By Region, 2023–2028 (Usd Million)
Table 52 Smart Home Market For Switches, By Region, 2019–2022 (Thousand Units)
Table 53 Smart Home Market For Switches, By Region, 2023–2028 (Thousand Units)
7.2.2.7 Accessories & Other Products
Table 54 Smart Home Market For Accessories & Other Products, By Region, 2019–2022 (Usd Million)
Table 55 Smart Home Market For Accessories & Other Products, By Region, 2023–2028 (Usd Million)
Table 56 Smart Home Market For Accessories & Other Products, By Region, 2019–2022 (Thousand Units)
Table 57 Smart Home Market For Accessories & Other Products, By Region, 2023–2028 (Thousand Units)
7.3 Security & Access Controls
7.3.1 Market Dynamics
7.3.1.1 Drivers
7.3.1.1.1 Increasing Crime Rate Leading To Adoption Of Home Security Systems
7.3.1.1.2 Development Of Mobile Interfaces
7.3.1.1.3 Development Of Multi-level/Multifactor Biometric Access Controls That Enhance Authentication Processes
7.3.1.1.4 Rising Adoption Of Iot-based Security Systems
7.3.1.2 Restraints
7.3.1.2.1 Growing Concerns With Regard To Privacy
7.3.1.2.2 High Initial Setup Cost To Hinder Market Growth
7.3.1.2.3 Limited Adoption Of Access Control As A Service
7.3.1.3 Opportunities
7.3.1.3.1 Significant Prospects Of Biometric Technologies In Home Security Applications
7.3.2 Products Covered Under Security & Access Controls
Figure 46 Smart Home Market For Security & Access Control Products
Table 58 Smart Home Market For Security & Access Controls, By Product, 2019–2022 (Usd Million)
Figure 47 Video Surveillance Systems Segment To Hold Larger Share Of Security & Access Controls Market In 2028
Table 59 Smart Home Market For Security & Access Controls, By Product, 2023–2028 (Usd Million)
Table 60 Smart Home Market For Security & Access Controls, By Region, 2019–2022 (Usd Million)
Table 61 Smart Home Market For Security & Access Controls, By Region, 2023–2028 (Usd Million)
7.3.2.1 Video Surveillance Systems
Table 62 Smart Home Market For Video Surveillance Systems, By Offering, 2019–2022 (Usd Million)
Figure 48 Software Segment To Register Highest Cagr In Video Surveillance Systems Market During Forecast Period
Table 63 Smart Home Market For Video Surveillance Systems, By Offering, 2023–2028 (Usd Million)
Table 64 Smart Home Market For Video Surveillance Systems, By Region, 2019–2022 (Usd Million)
Table 65 Smart Home Market For Video Surveillance Systems, By Region, 2023–2028 (Usd Million)
7.3.2.1.1 Hardware
Table 66 Smart Home Market For Video Surveillance Systems, By Hardware, 2019–2022 (Usd Million)
Figure 49 Cameras To Hold Largest Share Of Smart Home Market For Video Surveillance Hardware In 2022
Table 67 Smart Home Market For Video Surveillance Systems, By Hardware, 2023–2028 (Usd Million)
7.3.2.1.1.1 Cameras
7.3.2.1.1.1.1 Ip Cameras
7.3.2.1.1.1.1.1 Can Be Accessed And Controlled Over Ip Networks
7.3.2.1.1.1.2 Analog Cameras
7.3.2.1.1.1.2.1 Require Lesser Technical Maintenance Compared To Ip Cameras
Table 68 Smart Home Market For Video Surveillance Cameras, By Type, 2019–2022 (Usd Million)
Table 69 Smart Home Market For Video Surveillance Cameras, By Type, 2023–2028 (Usd Million)
Table 70 Smart Home Market For Video Surveillance Cameras, By Type, 2019–2022 (Thousand Units)
Table 71 Smart Home Market For Video Surveillance Cameras, By Type, 2023–2028 (Thousand Units)
7.3.2.1.1.2 Storage Devices
7.3.2.1.1.2.1 Introduction Of Ip Cameras To Boost Demand For Ip-based Surveillance Storage Systems And Technologies
7.3.2.1.1.3 Monitors
7.3.2.1.1.3.1 Project Data Obtained By Cameras As Output Of Video Surveillance Systems
7.3.2.1.1.4 Other Accessories
7.3.2.1.2 Software
7.3.2.1.2.1 Video Analytics Software
7.3.2.1.2.1.1 Automatically Monitors Cameras And Alerts Users About Unusual Or Suspicious Events
7.3.2.1.2.2 Video Management Software
7.3.2.1.2.2.1 Platform For Video Monitoring, Recording, And Analysis
7.3.2.1.2.3 Neural Networks And Algorithms
7.3.2.1.2.3.1 Used To Extract Patterns Or Coded Data To Identify Behavioral Trends
7.3.2.1.3 Services
7.3.2.1.3.1 Ensures Effective Working Of Video Surveillance Systems
7.3.2.2 Access Control Systems
Table 72 Smart Home Market For Access Control Systems, By Offering, 2019–2022 (Usd Million)
Figure 50 Hardware Segment To Hold Largest Share Of Smart Home Market For Access Control Systems In 2023
Table 73 Smart Home Market For Access Control Systems, By Offering, 2023–2028 (Usd Million)
Table 74 Smart Home Market For Access Control Systems, By Region, 2019–2022 (Usd Million)
Table 75 Smart Home Market For Access Control Systems, By Region, 2023–2028 (Usd Million)
7.3.2.2.1 Hardware
Table 76 Smart Home Market For Access Control Hardware, By Type, 2019–2022 (Usd Million)
Figure 51 Card-based Readers Segment To Witness Highest Growth During Forecast Period
Table 77 Smart Home Market For Access Control Hardware, By Type, 2023–2028 (Usd Million)
7.3.2.2.1.1 Card-based Readers
7.3.2.2.1.1.1 Used To Authenticate User Identity
7.3.2.2.1.2 Multi-technology Readers
7.3.2.2.1.2.1 Employ Combination Of Card And Biometrics
7.3.2.2.1.3 Electronic Locks
7.3.2.2.1.3.1 Cannot Be Tampered With And Provide Better Security Than Mechanical Locks
7.3.2.2.1.4 Controllers
7.3.2.2.1.4.1 Control Panels Transmit Data Between Readers And Software Through Various Types Of Communication Interfaces
7.3.2.2.1.5 Biometric Readers
Table 78 Smart Home Market For Biometric Readers, By Type, 2019–2022 (Usd Million)
Table 79 Smart Home Market For Biometric Readers, By Type, 2023–2028 (Usd Million)
Table 80 Smart Home Market For Biometric Readers, By Type, 2019–2022 (Thousand Units)
Table 81 Smart Home Market For Biometric Readers, By Type, 2023–2028 (Thousand Units)
7.3.2.2.1.6 Facial Recognition
7.3.2.2.1.6.1 Uses Numeric Codes Called Face Prints
7.3.2.2.1.7 Iris Recognition
7.3.2.2.1.7.1 More Detail-oriented And Provides High Level Of Security
7.3.2.2.1.8 Fingerprint Recognition
7.3.2.2.1.8.1 Used In Police Investigations, Defense-related Purposes, And Immigration Applications
7.3.2.2.1.9 Palm Recognition
7.3.2.2.1.9.1 Many Unique Advantages, Including High Recognition Rate, Low Cost Of Acquisition Equipment, And Good User Acceptance
7.3.2.2.1.10 Voice Recognition
7.3.2.2.1.10.1 Enables Hands-free Control Of Devices
7.3.2.2.1.11 Others
7.3.2.3 Software
7.3.2.3.1 Often Integrated With Other Security Management Platforms, Such As Video Surveillance, Intrusion, And Visitor Management Systems
7.3.2.4 Services
7.3.2.4.1 Majorly Include Installation, Support, And Maintenance Services
7.4 Hvac Controls
7.4.1 Market Dynamics
7.4.1.1 Drivers
7.4.1.1.1 Flexibility And Ease Of Accessing Hvac Systems
7.4.1.1.2 Reduction In Long-term Energy Costs Through Enhanced Hardware, Integrated Control Systems, And Management Services
7.4.1.1.3 Boom In Construction Sector
7.4.1.1.4 Emergence Of Iot-enabled Hvac Systems
7.4.1.2 Restraints
7.4.1.2.1 Lack Of Interoperability And Standardization
7.4.1.2.2 Lack Of Awareness About Benefits Of Hvac Control Systems
7.4.1.2.3 High Cost And Technical Complexities Associated With Installation Of Hvac Control Systems
7.4.1.3 Opportunities
7.4.1.3.1 Innovations In Sensors And Controls
7.4.1.3.2 Growing Demand For Cloud Computing In Hvac Systems
7.4.1.3.3 Integration Of Smart Devices With Hvac Systems
7.4.2 Products Covered Under Hvac Controls
Figure 52 Smart Home Market For Hvac Control Products
Table 82 Smart Home Market For Hvac Controls, By Product, 2019–2022 (Usd Million)
Figure 53 Dampers Segment To Witness Highest Growth During Forecast Period
Table 83 Smart Home Market For Hvac Controls, By Product, 2023–2028 (Usd Million)
Table 84 Smart Home Market For Hvac Controls, By Region, 2019–2022 (Usd Million)
Table 85 Smart Home Market For Hvac Controls, By Region, 2023–2028 (Usd Million)
7.4.2.1 Smart Thermostats
7.4.2.1.1 Maintain Temperature At Required Levels
Table 86 Smart Home Market For Smart Thermostats, By Region, 2019–2022 (Usd Million)
Table 87 Smart Home Market For Smart Thermostats, By Region, 2023–2028 (Usd Million)
Table 88 Smart Home Market For Smart Thermostats, By Region, 2019–2022 (Thousand Units)
Table 89 Smart Home Market For Smart Thermostats, By Region, 2023–2028 (Thousand Units)
7.4.2.2 Sensors
7.4.2.2.1 Perform Logical Functions Such As Making Decisions And Communicating With Other Systems
Table 90 Smart Home Market For Sensors, By Region, 2019–2022 (Usd Million)
Table 91 Smart Home Market For Sensors, By Region, 2023–2028 (Usd Million)
7.4.2.3 Control Valves
7.4.2.3.1 Regulate Flow Of Fluids In Various Processes
Table 92 Smart Home Market For Control Valves, By Region, 2019–2022 (Usd Million)
Table 93 Smart Home Market For Control Valves, By Region, 2023–2028 (Usd Million)
7.4.2.4 Heating & Cooling Coils
7.4.2.4.1 Hvac Systems Use Coils To Maintain Temperature
Table 94 Smart Home Market For Heating & Cooling Coils, By Region, 2019–2022 (Usd Million)
Table 95 Smart Home Market For Heating & Cooling Coils, By Region, 2023–2028 (Usd Million)
7.4.2.5 Dampers
7.4.2.5.1 Regulate Flow Of Hot/Cold Air In Rooms
Table 96 Smart Home Market For Dampers, By Region, 2019–2022 (Usd Million)
Table 97 Smart Home Market For Dampers, By Region, 2023–2028 (Usd Million)
7.4.2.6 Actuators
7.4.2.6.1 Control Dampers And Valves In Hvac Systems
Table 98 Smart Home Market For Actuators, By Region, 2019–2022 (Usd Million)
Table 99 Smart Home Market For Actuators, By Region, 2023–2028 (Usd Million)
7.4.2.7 Pumps & Fans
7.4.2.7.1 Essential Components Of Hvac Control Systems
Table 100 Smart Home Market For Pumps & Fans, By Region, 2019–2022 (Usd Million)
Table 101 Smart Home Market For Pumps & Fans, By Region, 2023–2028 (Usd Million)
7.4.2.8 Smart Vents
7.4.2.8.1 Can Be Programmed To Open And Close According To Temperature Conditions
Table 102 Smart Home Market For Smart Vents, By Region, 2019–2022 (Usd Million)
Table 103 Smart Home Market For Smart Vents, By Region, 2023–2028 (Usd Million)
7.5 Entertainment & Other Controls
Table 104 Smart Home Market For Entertainment & Other Controls, By Product, 2019–2022 (Usd Million)
Figure 54 Market For Entertainment Controls To Grow At Higher Cagr During Forecast Period
Table 105 Smart Home Market For Entertainment & Other Controls, By Product, 2023–2028 (Usd Million)
Table 106 Smart Home Market For Entertainment & Other Controls, By Region, 2019–2022 (Usd Million)
Table 107 Smart Home Market For Entertainment & Other Controls, By Region, 2023–2028 (Usd Million)
7.5.1 Market Dynamics
7.5.1.1 Drivers
7.5.1.1.1 Changing Lifestyle Of Consumers
7.5.1.1.2 Enhanced Level Of Comfort Offered
7.5.1.1.3 Growing Consumer Inclination Toward Entertainment Products
7.5.1.2 Restraints
7.5.1.2.1 High Cost Of Entertainment Control Systems
7.5.1.2.2 Consumer Apprehensions Due To Adverse Effects On Health From Audio Equipment And Wireless Entertainment Devices
7.5.1.3 Opportunities
7.5.1.3.1 Development Of 3d Gesture-based Remote Entertainment Controls
7.5.1.3.2 Integration Of Ai With Entertainment Devices
7.5.2 Products Covered Under Entertainment Control
Figure 55 Smart Home Market For Entertainment Controls, By Product
Table 108 Smart Home Market For Entertainment Controls, By Product, 2019–2022 (Usd Million)
Figure 56 Audio & Volume Controls Segment To Command Largest Market Share In 2028
Table 109 Smart Home Market For Entertainment Controls, By Product, 2023–2028 (Usd Million)
Table 110 Smart Home Market For Entertainment Controls, By Region, 2019–2022 (Usd Million)
Table 111 Smart Home Market For Entertainment Controls, By Region, 2023–2028 (Usd Million)
7.5.2.1 Audio & Volume Controls
7.5.2.1.1 Enable Playback And Music Control In Homes
Table 112 Smart Home Market For Audio & Volume Controls, By Region, 2019–2022 (Usd Million)
Table 113 Smart Home Market For Audio & Volume Controls, By Region, 2023–2028 (Usd Million)
7.5.2.2 Home Theater System Controls
7.5.2.2.1 Designed To Provide Ultimate Movie-viewing Experience
Table 114 Smart Home Market For Home Theater System Controls, By Region, 2019–2022 (Usd Million)
Table 115 Smart Home Market For Home Theater System Controls, By Region, 2023–2028 (Usd Million)
7.5.2.3 Touchscreens & Keypads
7.5.2.3.1 Control Audio-video Distribution At Homes
Table 116 Smart Home Market For Touchscreens & Keypads, By Region, 2019–2022 (Usd Million)
Table 117 Smart Home Market For Touchscreens & Keypads, By Region, 2023–2028 (Usd Million)
7.5.3 Other Control Products
Figure 57 Smart Home Market For Other Controls, By Product
Table 118 Smart Home Market For Other Controls, By Product, 2019–2022 (Usd Million)
Figure 58 Smart Hubs Segment To Register Highest Growth During Forecast Period
Table 119 Smart Home Market For Other Controls, By Product, 2023–2028 (Usd Million)
Table 120 Smart Home Market For Other Controls, By Region, 2019–2022 (Usd Million)
Table 121 Smart Home Market For Other Controls, By Region, 2023–2028 (Usd Million)
7.5.3.1 Smart Meters
7.5.3.1.1 Measure Energy Consumption And Enable Communication Between Users And Utilities
Table 122 Smart Home Market For Smart Meters, By Region, 2019–2022 (Usd Million)
Table 123 Smart Home Market For Smart Meters, By Region, 2023–2028 (Usd Million)
7.5.3.2 Smart Plugs
7.5.3.2.1 Help In Managing And Saving Energy
Table 124 Smart Home Market For Smart Plugs, By Region, 2019–2022 (Usd Million)
Table 125 Smart Home Market For Smart Plugs, By Region, 2023–2028 (Usd Million)
7.5.3.3 Smart Hubs
7.5.3.3.1 Control Connected Gadgets In Smart Homes
Table 126 Smart Home Market For Smart Hubs, By Region, 2019–2022 (Usd Million)
Table 127 Smart Home Market For Smart Hubs, By Region, 2023–2028 (Usd Million)
7.5.3.4 Smart Locks
7.5.3.4.1 Enabled With Wireless Technologies Such As Z-wave, Zigbee, And Nfc
Table 128 Smart Home Market For Smart Locks, By Region, 2019–2022 (Usd Million)
Table 129 Smart Home Market For Smart Locks, By Region, 2023–2028 (Usd Million)
7.5.3.5 Smoke Detectors
7.5.3.5.1 Detect Smoke Faster Than Flame And Heat Detectors
Table 130 Smart Home Market For Smoke Detectors, By Region, 2019–2022 (Usd Million)
Table 131 Smart Home Market For Smoke Detectors, By Region, 2023–2028 (Usd Million)
7.6 Smart Speakers
7.6.1 Enable Control Of Smart Devices Through User Voice Control
Table 132 Smart Home Market For Smart Speakers, By Region, 2019–2022 (Usd Million)
Figure 59 Smart Speakers Market In Asia Pacific To Grow At Highest Cagr During Forecast Period
Table 133 Smart Home Market For Smart Speakers, By Region, 2023–2028 (Usd Million)
Table 134 Smart Home Market For Smart Speakers, By Region, 2019–2022 (Thousand Units)
Table 135 Smart Home Market For Smart Speakers, By Region, 2023–2028 (Thousand Units)
7.6.2 Market Dynamics
7.6.2.1 Drivers

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