Denmark Smart Home Market by Product Type (Smart Lighting, Smart Home Security & Surveillance, Smart Entertainment, and Smart Appliances), by Communication Protocol (Wi-Fi, Zigbee, Z-Wave, Bluetooth, and Thread), by Smart Home Hubs (Standalone Hubs and Built-in Hubs), by Voice Assistants Integration (Amazon Alexa, Google Assistant, Apple Siri, and Others), by Smart Home Compatibility with Smartphones (iOS and Android), by Installation, (DIY Installation and Professional Installation), and by Sales Channel (Online Retailers and Offline Retailers) – Opportunity Analysis and Industry Forecast, 2024–2030
The Denmark Smart Home Market size was valued at USD 334.9 million in 2023, and is predicted to reach USD 1684.4 million by 2030, at a CAGR of 26.0% from 2024 to 2030.
The expanding trend of digitalization in Denmark is a key driver behind the growth of the country's smart home market. As digital technologies become increasingly integrated into various aspects of Danish life, there is a rising demand for smart home solutions offering convenience, connectivity, and control. Denmark, known for its digital advancements, exhibits a strong demand for cutting-edge software and IT products, with American hardware and software products highly regarded in this tech-savvy market. The country's robust digital infrastructure and high internet penetration provide essential connectivity for smart home devices to function effectively. This alignment with the broader trend of digitalization makes smart home technologies more appealing to Danish consumers, driving their adoption and fuelling market growth.
Furthermore, in Denmark, where the average household net adjusted disposable income per capita surpasses the OECD average at USD 33,774 annually, there exists a significant factor propelling the growth of the robotic vacuum cleaner market. Danish households with higher disposable incomes show a greater inclination towards investing in advanced home automation technologies, including smart homes, as they seek to simplify domestic tasks and enhance their overall quality of life. This increased purchasing power corresponds with the growing trend of adopting robotic solutions in Danish households, positioning the country as a thriving market for smart homes.
However, security concerns pose a substantial obstacle to the growth of the smart home market, stemming from worries about the safety of interconnected systems. Devices such as thermostats, cameras, and door locks are vulnerable to hacking, posing threats to the privacy and security of residents. Weak passwords and insufficient security measures within Wi-Fi networks often exacerbate this vulnerability. Hackers exploit these weaknesses to gain unauthorized access, potentially compromising devices or accessing sensitive information.
On the contrary, the incorporation of blockchain technology into smart home devices presents a promising approach to enhancing the security and privacy of smart home systems. Renowned for its robust security features and transparency, blockchain technology encrypts and securely stores sensitive data from smart home devices, empowering users to regulate access permissions and reducing the risk of unauthorized intrusion. Through the validation of device identities, blockchain ensures that only trusted devices interact within the smart home network, while also automating tasks through tamper-proof smart contracts. Moreover, blockchain decentralizes device control, minimizing vulnerabilities and simplifying access control and permissions management. By integrating blockchain into smart homes, not only is security and privacy enhanced, but it also fosters a safer and more confidential smart home environment. As a result, it is poised to unlock significant growth opportunities for the market.
Segment Overview
The Denmark Smart Home industry is segmented based on product type, communication protocol, smart home hubs, voice assistant integration, smart home compatibility with smartphones, installation, and sales channel.
By product type, the market is categorized into smart lighting, smart home security and surveillance, smart entertainment, and smart appliances.
By communication protocol, the market is classified into Wi-Fi, Zigbee, Z-Wave, Bluetooth, and Thread.
By smart home hubs, the market is segmented into standalone hubs and built-in hubs.
By voice assistant integration, the market is divided into Amazon Alexa, Google Assistant, Apple Siri, and others.
By smart home compatibility with smartphones, the market is divided into iOS and Android.
By installation, the market is classified into DIY installation and professional installation.
By sales channel, the market is classified into online retailers and offline retailers.
Key Market Players
Leading players operating in the Denmark Smart Home Market include:
• LG Electronics
• ASSA ABLOY
• Amazon, Inc.
• Samsung Electronics
• Sony Group Corporation
• Emerson Electronic Co.
• Johnson Controls International PLC
• Centrica Connected Home Limited
• Resideo Technologies, Inc.
• Apple, Inc.
KEY BENEFITS
• The Denmark Smart Home market report provides a quantitative analysis of the current market and estimations through 2024-2030 that assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
• The competitive analysis of the market players along with their market share in the Denmark Smart Home market.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
- 1 Introduction
- 1.1 Report Description
- 1.2 Research Methodology
- 1.2.1 Secondary Research
- 1.2.2 Data Analysis Framework
- 1.2.3 Market Size Estimation
- 1.2.4 Forecasting
- 1.2.5 Primary Research And Data Validation
- 2 Denmark Smart Home Market By Product Type
- 2.1 Overview
- 2.2 Smart Lighting Market
- 2.2.1 Smart Bulbs
- 2.2.2 Smart Light Strips
- 2.2.3 Smart Switches
- 2.3 Smart Home Security And Surveillance Market
- 2.3.1 Smart Cameras
- 2.3.2 Video Doorbells
- 2.3.3 Smart Locks
- 2.3.4 Security System
- 2.4 Smart Entertainment Market
- 2.4.1 Smart Tvs
- 2.4.2 Smart Speakers
- 2.4.3 Streaming Devices
- 2.5 Smart Appliances Market
- 2.5.1 Smart Refrigerators
- 2.5.2 Smart Ovens
- 2.5.3 Smart Washing Machines
- 2.5.4 Smart Dishwashers
- 2.5.5 Smart Home Hvac Management
- 2.5.6 Other Smart Appliances
- 3 Denmark Smart Home Market By Communication Protocol
- 3.1 Overview
- 3.2 Wi-fi Market
- 3.3 Zigbee Market
- 3.4 Z-wave Market
- 3.5 Bluetooth Market
- 3.6 Thread Market
- 4 Denmark Smart Home Market By Smart Home Hubs
- 4.1 Overview
- 4.2 Standalone Hubs Market
- 4.3 Built-in Hubs Market
- 5 Denmark Smart Home Market By Voice Assistants Integration
- 5.1 Overview
- 5.2 Amazon Alexa Market
- 5.3 Google Assistant Market
- 5.4 Apple Siri Market
- 5.5 Others Market
- 6 Denmark Smart Home Market By Smart Home Compatibility With Smartphones
- 6.1 Overview
- 6.2 Ios Market
- 6.3 Android Market
- 7 Denmark Smart Home Market By Installation
- 7.1 Overview
- 7.2 Diy Installation Market
- 7.3 Professional Installation Market
- 8 Denmark Smart Home Market By Sales Channel
- 8.1 Overview
- 8.2 Online Retailers Market
- 8.3 Retailers Market
- 9 Company Profiles
- 9.1 Lg Electronics
- 9.1.1 Company Overview
- 9.1.2 Company Snapshot
- 9.1.3 Operating Business Segments
- 9.1.4 Product Portfolio
- 9.1.5 Business Performance
- 9.1.6 Business Segments
- 9.1.7 Geographic Segments
- 9.1.8 Key Strategic Moves And Development
- 9.1.9 Primary Market Competitors
- 9.2 Assa Abloy
- 9.2.1 Company Overview
- 9.2.2 Company Snapshot
- 9.2.3 Operating Business Segments
- 9.2.4 Product Portfolio
- 9.2.5 Business Performance
- 9.2.6 Business Segments
- 9.2.7 Geographic Segments
- 9.2.8 Key Strategic Moves And Development
- 9.2.9 Primary Market Competitors
- 9.3 Amazon Inc.
- 9.3.1 Company Overview
- 9.3.2 Company Snapshot
- 9.3.3 Operating Business Segments
- 9.3.4 Product Portfolio
- 9.3.5 Business Performance
- 9.3.6 Business Segments
- 9.3.7 Geographic Segments
- 9.3.8 Key Strategic Moves And Development
- 9.3.9 Primary Market Competitors
- 9.4 Samsung Electronics
- 9.4.1 Company Overview
- 9.4.2 Company Snapshot
- 9.4.3 Operating Business Segments
- 9.4.4 Product Portfolio
- 9.4.5 Business Performance
- 9.4.6 Business Segments
- 9.4.7 Geographic Segments
- 9.4.8 Key Strategic Moves And Development
- 9.4.9 Primary Market Competitors
- 9.5 Sony
- 9.5.1 Company Overview
- 9.5.2 Company Snapshot
- 9.5.3 Operating Business Segments
- 9.5.4 Product Portfolio
- 9.5.5 Business Performance
- 9.5.6 Business Segments
- 9.5.7 Geographic Segments
- 9.5.8 Key Strategic Moves And Development
- 9.5.9 Primary Market Competitors
- 9.6 Emerson Electronic Co.
- 9.6.1 Company Overview
- 9.6.2 Company Snapshot
- 9.6.3 Operating Business Segments
- 9.6.4 Product Portfolio
- 9.6.5 Business Performance
- 9.6.6 Business Segments
- 9.6.7 Geographic Segments
- 9.6.8 Key Strategic Moves And Development
- 9.6.9 Primary Market Competitors
- 9.7 Johnson Controls International Plc
- 9.7.1 Company Overview
- 9.7.2 Company Snapshot
- 9.7.3 Operating Business Segments
- 9.7.4 Product Portfolio
- 9.7.5 Business Performance
- 9.7.6 Business Segments
- 9.7.7 Geographic Segments
- 9.7.8 Key Strategic Moves And Development
- 9.7.9 Primary Market Competitors
- 9.8 Centrica Connected Home Limited
- 9.8.1 Company Overview
- 9.8.2 Company Snapshot
- 9.8.3 Operating Business Segments
- 9.8.4 Product Portfolio
- 9.8.5 Business Performance
- 9.8.6 Business Segments
- 9.8.7 Geographic Segments
- 9.8.8 Key Strategic Moves And Development
- 9.8.9 Primary Market Competitors
- 9.9 Resideo Technologies Inc.
- 9.9.1 Company Overview
- 9.9.2 Company Snapshot
- 9.9.3 Operating Business Segments
- 9.9.4 Product Portfolio
- 9.9.5 Business Performance
- 9.9.6 Business Segments
- 9.9.7 Geographic Segments
- 9.9.8 Key Strategic Moves And Development
- 9.9.9 Primary Market Competitors
- 9.10 Apple Inc.
- 9.10.1 Company Overview
- 9.10.2 Company Snapshot
- 9.10.3 Operating Business Segments
- 9.10.4 Product Portfolio
- 9.10.5 Business Performance
- 9.10.6 Business Segments
- 9.10.7 Geographic Segments
- 9.10.8 Key Strategic Moves And Development
- 9.10.9 Primary Market Competitors
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