Smart Home Market Size, Share, Growth Report 2030

Smart Home Market

Smart Home Market Size - By Product (Smart Kitchen, Security & Access Control, Lighting Control, Home Healthcare, HVAC Control, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-788 Published Date: Mar-2023 Status : Published
Market Size in 2021 Market Forecast in 2026 Compound Annual Growth Rate Base Year Smart Home Market
USD 85.6 billion USD 137.9 billion CAGR of 10.4% 2022

Global Smart Home Market: Industry Perspective

The global Smart Home market Size, which was estimated at USD 85.6 billion in 2021 and is predicted to accrue earnings worth USD 137.9 billion by 2026, is set to record a CAGR of over 10.4% over 2020-2026. The report offers a valuation and analysis of the smart home market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast for 2020 to 2026 based on value (USD Billion.

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Smart Home Market: Introduction

Smart Home is a dwelling that makes utilization of internet-connected equipment and this will facilitate remote monitoring as well as efficient management of appliances & systems like heating and lighting.  Additionally, smart homes make use of new technologies like the internet of things which helps them in guaranteeing the security of homes along with offering the residents comfort & convenience. It also helps homeowners in increasing energy efficiency by controlling their home equipment from remote distances through the use of smart instruments like smartphones and iPhones. Some examples of smart devices used in homes include Smart Televisions, Smart light bulbs, Smart thermostats, Smart lighting systems, Smart locks, Smart security cameras, and Smart monitor sensors.

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Smart Home Market: Growth Dynamics

Escalating customer preference for saving energy and optimizing the utility of the available resources will proliferate the market size over the forecast timespan. Apparently, the need for intense security is likely to further steer the demand for smart homes over the forthcoming years. The massive use of wireless systems like HVAC controllers and access regulators in home construction will promulgate the expansion of the smart home industry over the assessment period. With the real estate industry experiencing a boom in recent years, the smart home market growth is likely to gain a boost in the next decade. Shifting demographic trends along with the escalating requirement for safeguarding the environment from pollution will help the market scale up to new heights of growth over the forecasting timeline.

Furthermore, smart homes help in reducing power usage as residents can set the temperature as per their convenience and requirements. Easy access to affordable technologies and the availability of new features like Bluetooth will enlarge the market scope over the forecasting years. The thriving consumer electronic goods sector will provide new growth avenues for the industry over the forthcoming years.

Smart Home Market Report Scope:

Report Attributes Report Details
Report Name Smart Home Market Research Survey Report
Market Size in 2021 USD 85.6 billion
Market Forecast in 2026 USD 137.9 billion
Compound Annual Growth Rate CAGR of 10.4%
Number of Pages 110
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered United Technologies Corporation, ABB Ltd, Legrand, Honeywell International Inc, Siemens AG, Samsung Electronics Co Ltd, Johnson Controls Inc, Nest Labs, Inc, Ingersoll-Rand plc, Schneider Electric SE, Acuity Brands, Inc, and Crestron Electronics Inc
Segments Covered By Product, By Technique, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2021
Historical Year 2016 to 2020
Forecast Year 2021 - 2028
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

North America To Make Notable Contributions Toward Overall Market Share By 2026

The expansion of the industry in the sub-continent over the assessment timeline is due to a rise in the acceptance of smart products in U.S. households. Moreover, a growing trend among individuals for home healthcare, as well as medical care facilities at homes in the countries like the U.S. and Canada, will further steer the market trends in the region. Apart from this, the rise in the presence of firms producing smart home devices in North American countries will contribute notably toward regional market revenue over the years ahead.

Key Market Players & Competitive Landscape

Key participants profiled in the study include 

  • United Technologies Corporation
  • ABB Ltd.
  • Legrand
  • Honeywell International Inc.
  • Siemens AG
  • Samsung Electronics Co. Ltd.
  • Johnson Controls Inc.
  • Nest Labs, Inc.
  • Ingersoll-Rand plc
  • Schneider Electric SE
  • Acuity Brands, Inc.
  • Crestron Electronics Inc.

The report segments the global smart home market as follows:

Global Smart Home Market: Product Segment

  • Smart Kitchen
  • Security & Access Control
  • Lighting Control
  • Home Healthcare
  • HVAC Control
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

Escalating customer preference for saving energy and optimizing the utility of the available resources will proliferate the market size over the forecast timespan. Apparently, need for intense security is likely to further steer the demand for smart homes over the forthcoming years. Massive use of wireless systems like HVAC controller and access regulators in home constructions will promulgate the expansion of the smart home industry over the assessment period. With real estate industry experiencing a boom in recent years, the smart home market growth is likely to gain a boost in the next decade. Shifting demographic trends along with the escalating requirement for safeguarding the environment from pollution will help the market scale up to new heights of growth over the forecasting timeline.

According to the report, the smart home market size is expected to reach USD 137.9 billion by 2026 from USD 85.6 billion in 2021, at a CAGR of 10.4% during the forecast period.

North America is likely to make noteworthy contributions towards overall market revenue over forecast timeline. The regional market growth over 2020-2026 can be credited to rise in the acceptance of smart products in the U.S. households. Moreover, growing trend among the individuals for home healthcare as well as medical care facilities at homes in the countries like the U.S. and Canada will further steer the market trends in the region. Apart from this, rise in the presence of the firms producing smart home devices in the North American countries will contribute notably towards regional market revenue over the years ahead.

The key players profiled in the report include United Technologies Corporation, ABB Ltd., Legrand, Honeywell International Inc., Siemens AG, Samsung Electronics Co., Ltd., Johnson Controls Inc., Nest Labs, Inc., Ingersoll-Rand plc, Schneider Electric SE, Acuity Brands, Inc., and Crestron Electronics Inc.

Smart Kitchen, Security & Access Control, Lighting Control, Home Healthcare, HVAC Control, etc are most influencing segments growing in this Smart Home Market Report.

Integration of artificial intelligence (AI) with smart home systems, penetration of 5G in industrial manufacturing, integration of IoT and cloud connectivity with smart home devices, and adoption of adaptive learning technology to improve the capabilities of HVAC control devices are the key technologies that are altering the global smart home landscape.

A smart home is a domicile that is outfitted with computing and information technology gadgets that anticipate and respond to the residents' requirements. Upgraded technologies within these residences ensure the comfort, convenience, security, and entertainment of their residents. The notion of "smart houses" has been around for quite some time; currently, the smart home market by a number of innovations and is subject to a variety of regulatory requirements. Smart homes feature remotely monitorable automated equipment for applications such as security and access management, lighting control, HVAC control, entertainment control, home healthcare, smart kitchens, and home appliances.

A smart home is a living area that is outfitted with a variety of gadgets, sensors, and systems that are connected to the internet and allow for remote monitoring, control, and automation of many aspects of the home. This type of living space is also known as a "smart home." Homeowners are able to remotely operate and monitor these devices and systems by using a smartphone app, voice commands, or other techniques.

Because these devices and systems are able to connect with one another and with the internet, they can also communicate with each other. Devices and systems for the smart home can range from voice-activated assistants to smart appliances and home automation systems. Some examples of smart home devices and systems are voice-controlled thermostats, lighting systems, and security cameras. They can be used to manage and monitor a variety of components of the home, such as the temperature, the lighting, the security, the entertainment, and the amount of energy utilized.

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