Sale

Smart Home Market

Global Smart Home Market Size, Share, Analysis, Forecast: By Product: Lighting Control, Security and Access Control, HVAC Control, Entertainment, Home Healthcare, Smart Kitchen, Home Appliances, Smart Furniture, Others; By Software and Services: Proactive, Behavioural; Regional Analysis; Competitive Landscape; 2024-2032

Global Smart Home Market Size

The global smart home market is being aided by the growth of global smart home appliances market, which attained a value of nearly USD 52.01 billion in 2023. The global smart home appliances market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 15.0%.

 

Smart Home Market Outlook

  • Voice-controlled virtual assistants like Amazon Alexa, Google Assistant, and Apple Siri have become central to the smart home experience.
  • A major focus in market is on the integration of various devices to create a seamless and interoperable ecosystem.
  • North America holds a major market share as the region due to the ongoing technological advancements.

 

Smart Home Market Growth Rate

A smart home is identified as a residence where appliances and devices are automated and can be controlled with an internet connection. A smart home allows the user to control and monitor various functions, such as security access, temperature, and lighting, among others remotely. It can be set up through a wireless or hard-wired system.

 

The growing upgradation of homes by adopting the latest technological advancements to aid in various applications is consequently augmenting the smart home market development. Moreover, the rising ownership and use of smart speakers, especially among the youth, for making living spaces more comfortable, relaxing, and multifunctional during home quarantine is providing further impetus to the smart home sector. Independent living among millennials and the gen-z population and their hectic lifestyles are also increasing the demand for smart home products, further aiding the market growth. In addition, smart home technology saves energy while providing great convenience; it is increasingly used by consumers to reduce carbon footprints. Moreover, smart homes can be installed easily and integrate with other devices while enhancing security, which, in turn, is further propelling the market growth.

 

Global Smart Home Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Key Trends and Developments

Integration and interoperability; voice control and virtual assistants; the adoption of emerging technologies; and the adoption of the Internet of Things are the major trends impacting the smart home market expansion

 

March 14th, 2024

IKEA expanded its offerings in the smart home device market by launching a new budget-friendly smart home product available for online purchase.

 

October 10th, 2023

Xiaomi, a technology company, introduced its new range of smart home essentials, including the Xiaomi TV A Pro Series, the Xiaomi Smart Band 8, and the Xiaomi Smart Kids Watch.

 

September 12th, 2023

Haier Appliances India, a global leader in home appliances, announced the release of its new AI-powered 959 Direct Motion Motor Fully Automatic Front Load Washing Machines in India.

 

July 18th, 2023

Philips has introduced its innovative range of smart home security cameras in India which integrates AI technology.

 

Integration and interoperability

There is a growing emphasis on ensuring that smart home devices can seamlessly integrate and communicate with each other to create a functional smart home ecosystem.

 

Voice control and virtual assistants

Voice-controlled virtual assistants like Amazon Alexa, Google Assistant, and Apple Siri are becoming central to the smart home experience.

 

The adoption of emerging technologies

Technologies such as artificial intelligence (AI) and machine learning identify users’ patterns and preferences and improve user experience which is expected to propel the market growth.

 

Adoption of the Internet of Things

The incorporation of (IoT) in automated devices, is escalating the preference of consumers for video-assisted technologies, video doorbells, and surveillance systems, among others.

 

Smart Home Market Trends

Voice-controlled virtual assistants such as Amazon Alexa, Google Assistant, and Apple Siri have become central to the smart home experience due to their ability to provide a convenient, hands-free way to interact with and control various smart home devices. For instance, voice assistants allow users to control smart home devices using simple voice commands, eliminating the need for manual switches or smartphone apps.

 

Market players in the smart home market are expanding their product portfolio by launching innovative and cost-effective smart home products. IKEA launched a new budget-friendly smart home product in March 2024, which is designed to cater to consumers looking for cost-effective solutions to integrate smart technology into their homes.

 

Global Smart Home Market by Segment

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Smart Home Industry Segmentation

“Smart Home Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Product

  • Lighting Control
  • Security and Access Control
  • HVAC Control
  • Entertainment
  • Home Healthcare
  • Smart Kitchen
  • Home Appliances
  • Smart Furniture
  • Others

 

Market Breakup by Software and Services

  • Proactive
  • Behavioural

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Smart Home Market Share

Lighting control accounts for a major share as it offers efficient light solutions to users

Lighting control holds the highest share of the market. The popularity of smart lighting solutions is driven by their ability to provide energy efficiency, convenience, and enhanced ambience. Smart lighting systems allow users to remotely control their lights, set schedules, and even change the colour and intensity of the lighting. The integration of smart lighting with voice-controlled virtual assistants has further boosted its adoption.

 

Smart kitchen is anticipated to grow at a sizeable rate in the upcoming years. Smart kitchen devices like sous vide cookers, smart slow cookers, and connected coffee makers allow for precise control of cooking temperatures and times, ensuring perfect results every time. Additionally, the rising craze of smart refrigerators that can control the temperature based on the products, and Wi-Fi-enabled coffee machines, which enable a hassle-free way of making coffee, are increasing the market for a smart kitchen and further invigorating the overall market growth.

 

Proactive system maintains its dominance in the market as this system can operate without any manual input

Proactive systems hold the highest share of the smart home market and are designed to anticipate and respond to the needs of the household without requiring manual input or adjustments. For example, a proactive smart thermostat might use weather forecasts, the homeowner's schedule, and historical data to automatically adjust the temperature settings for optimal comfort and energy efficiency. Additionally, products like smart detectors and smart water leaks allow consumers to respond proactively, hence protecting the home from costly damage.

 

Behavioural systems are anticipated to gain significant growth in the smart home market in the forecast period. They rely on learning from the user's habits and behaviours over time to make adjustments. For example, a behavioural smart thermostat might learn when the house is typically occupied or when the temperature is usually adjusted and then automate those settings accordingly.

 

Leading Companies in Smart Home Market

The key players are forming partnerships with other technology providers, home builders, and service providers to gain a competitive edge in the market

 

Honeywell International, Inc. is a multinational conglomerate company that specialises in a variety of commercial and consumer products, engineering services, and aerospace systems.

 

Johnson Controls International. is a global diversified technology and industrial leader serving a wide range of customers in more than 150 countries and specialises in building products and technology.

 

Schneider Electric is a French multinational company specialising in energy management, automation solutions, and services for homes, buildings, data centres, and infrastructure.

 

Siemens AG, founded in 1847, is a German multinational conglomerate company and one of the largest industrial manufacturing companies in Europe.

 

Other key players include United Technologies Corporation, among others. Market players are actively engaged in a variety of strategies and initiatives to strengthen their positions, drive innovation, and meet the evolving needs of consumers.

 

Global Smart Home Market by Region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Smart Home Market Analysis by Region

North America holds a substantial share of the market due to the increasing number of region’s smartphone users with hectic lifestyles which is boosting the demand for enhancing convenience in homes, consequently aiding the market growth. Smart homes are gradually becoming more affordable and easier to use, due to which they are increasingly preferred by consumers to enhance the security of their homes. The development of customisable products based on specific consumer needs is also increasing the demand for smart home devices. Technological advancements that enable wireless communication are bolstering the demand for home theatre system control and smart home theatres to enhance the entertainment experience, therefore significantly contributing to the overall market growth.

 

The demand for the smart home market in the Asia Pacific region has been growing rapidly in recent years. The region is experiencing rapid urbanisation, with an increasing number of people moving to cities which is driving the demand for smart home solutions that offer convenience, security, and energy efficiency in compact urban living spaces.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Software and Services
  • Region
Breakup by Product
  • Lighting Control
  • Security and Access Control
  • HVAC Control
  • Entertainment
  • Home Healthcare
  • Smart Kitchen
  • Home Appliances
  • Smart Furniture
  • Others
Breakup by Software and Services
  • Proactive
  • Behavioural
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Honeywell International, Inc
  • Johnson Controls International.
  • Schneider Electric
  • Siemens AG
  • United Technologies Corporation
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

Our Best Selling Reports

Stock Images Market

Feed Enzymes Market

Indian Dairy Market

Vacuum Truck Market

Chromium Market

Forklift Market

Lighting Market

Feed Protein Market

Wood Vinegar Market

Acetic Anhydride Market

 

Smart Home Market Report Snapshots

Smart Home Market Size

Smart Home Market Growth

Smart Home Market Trends

Smart Home Market Share

Smart Home Companies

Smart Home Market Regional Analysis

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface    
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Smart Home Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Smart Home Historical Market (2018-2023)
    8.3    Global Smart Home Market Forecast (2024-2032)
    8.4    Global Smart Home Market by Product
        8.4.1    Lighting Control
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Security and Access Control
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    HVAC Control
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Entertainment
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Home Healthcare
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
        8.4.6    Smart Kitchen
            8.4.6.1    Historical Trend (2018-2023)
            8.4.6.2    Forecast Trend (2024-2032)
        8.4.7    Home Appliances
            8.4.7.1    Historical Trend (2018-2023)
            8.4.7.2    Forecast Trend (2024-2032)
        8.4.8    Smart Furniture
            8.4.8.1    Historical Trend (2018-2023)
            8.4.8.2    Forecast Trend (2024-2032)
        8.4.9    Others
    8.5    Global Smart Home Market by Software and Services
        8.5.1    Proactive
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Behavioural
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)    
    8.6    Global Smart Home Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Smart Home Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Smart Home Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Smart Home Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Smart Home Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Smart Home Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     Honeywell International, Inc
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Johnson Controls International.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Schneider Electric
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Siemens AG
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    United Technologies Corporation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Smart Home Market: Key Industry Highlights, 2018 and 2032
2.    Global Smart Home Historical Market: Breakup by Product (USD Billion), 2018-2023
3.    Global Smart Home Market Forecast: Breakup by Product (USD Billion), 2024-2032
4.    Global Smart Home Historical Market: Breakup by Software and Service (USD Billion), 2018-2023
5.    Global Smart Home Market Forecast: Breakup by Software and Service (USD Billion), 2024-2032
6.    Global Smart Home Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Smart Home Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Smart Home Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Smart Home Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe Smart Home Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Smart Home Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific Smart Home Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Smart Home Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America Smart Home Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Smart Home Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa Smart Home Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Smart Home Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global Smart Home Market Structure

Key Questions Answered in the Report

The global smart home market is being aided by the growth of global smart home appliances market, which attained a value of nearly USD 52.01 billion in 2023.

The global smart home appliances market is projected to grow at a CAGR of 15% between 2024 and 2032.

The market is driven by increasing internet penetration, growing adoption of smart devices, and rising demand for innovative home monitoring technology.

The key trends of the market include increasing digital advancements, rising demand for energy-efficient products, and increasing adoption of technology in home management applications.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various products of smart home in the market are lighting control, security and access control, HVAC control, entertainment, home healthcare, smart kitchen, home appliances, and smart furniture, among others.

The significant software and services in the market are proactive and behavioural.

The major players in the market are Honeywell International, Inc., Johnson Controls International., Schneider Electric, Siemens AG, and United Technologies Corporation, among others.

Purchase Full Report

Mini Report

$ 2199     $1999
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3299     $2999
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
most popular

Five User License

$ 4399     $3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 5499     $4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER