Smart Home Market By Product (Lighting Control, Security and Access Control, HVAC, Entertainment Control, Smart Kitchen, and Home Appliances), By Technology (Wireless Communication, Cellular Network, and Protocols and Standards), By Software and Services (Behavioral and Proactive), and By Region – (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI19719 | Publish Date: February 2024 | No. of Pages: 175

Global Smart Home Market By Overview

Introduction:

Smart Home Market was valued at US$ 111.2 Billion in 2024 and is projected to grow at a CAGR of 10.20% to reach US$ 293.9 Billion by 2034.

Smart home is a residence that use internet-connected devices to enable the remote monitoring and managing the home. Smart home started with the invention of the thermostat, which has developed into one of the largest and fastest growing market. Home security, controlling appliances, monitoring energy use, personal assistant for looking after the elderly or disabled such applications of smart home is expected to foster the market over the forecast period. Smart Home Market accounted for US$ 82.4 billion in 2020 and is estimated to be US$ 474.52 billion by 2030 and is anticipated to register a CAGR of 10.40%.

Global Smart Home Market By Dynamics

Increasing internet penetration, availability of required technological structure are the major factors driving growth of the global smart home market. Also, increasing awareness about smart home in urban resident population is another factor supporting growth of the smart home market. Builders or house contractors playing an important role in spreading awareness about the benefits of smart home in residents is a factor expected to boost market growth in the near future

Ongoing smart city projects is a leading factor expected to provide more opportunities for leading players to enter into emerging country market and tap major market share. Also, the government of emerging countries has launched various projects which are expected to support growth of the global smart home market. For instance, Government of India has launched digital India campaign to increase internet penetration and to support their smart city program.

However, high cost of this technology installation and high price of gadgets are the major factors expected to hamper growth of the smart home market up to a certain extent. Furthermore, unavailability of internet access in rural area, lack of skilled labors and poor service network in remote area of emerging countries are other factor expected to hamper growth of the global smart home market.

Global Smart Home Market By Segmentation

The global smart home market has been segmented on the basis of product, technology, software and services, and region. On the basis of product target market is segmented as lighting control, security and access control, HVAC, entertainment control, smart kitchen, and home appliances. On the basis of technology target market is segmented as wireless communication, cellular network, and protocols and standards. On the basis of software and services target market behavioral and proactive.

Regional Insights:

 Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On the basis of region, the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

North America is expected to contribute major market share followed by Europe and expected to maintain its dominance throughout the forecast period. These regions demonstrate high demand for smart homes, owing to well developed infrastructure, availability of required technology, high awareness among general population, and high disposable income.

Global Smart Home Market By Key Players

Key players operating in the global smart home market includes Siemens AG, Ingersoll-Rand plc., Acuity Brands, Inc., United Technologies Corporation, Samsung Electronics Co., Ltd., Legrand, Nest Labs Inc., Johnson Controls Inc., Schneider Electric SE, and ABB Group.

Global Smart Home Market By Company Profile

  • Siemens AG,
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
  • SWOT Analysis
  • Ingersoll-Rand plc.
  • Acuity Brands, Inc.
  • United Technologies Corporation,
  • Samsung Electronics Co., Ltd.
  • Legrand, Nest Labs Inc.
  • Johnson Controls Inc.
  • Schneider Electric SE
  • ABB Group.

“*” marked represents similar segmentation in other categories in the respective section

Global Smart Home Market By Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Preview
    • Executive Summary
    • Key Findings—Global Outlook for medical carts Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Product
      • Market Snippet, By Technology
      • Market Snippet, By Software and Services
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restrains
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Smart Home Market, By Product, Forecast Period up to 10 Years, (US$ Bn)
  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Lighting Control
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Security and Access Control
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • HVAC
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Entertainment Control
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Smart Kitchen
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Home Appliances
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Smart Home Market, By Technology , Forecast Period up to 10 Years, (US$ Bn)
  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Wireless Communication
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Protocols and Standards
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Smart Home Market, By Software and Services , Forecast Period up to 10 Years, (US$ Bn)

 

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Behavioral
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Proactive
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Smart Home Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Technology , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Software and Services , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Technology , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Software and Services , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Technology , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Software and Services , Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Technology , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Software and Services , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Product, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Technology , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Software and Services , Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Year
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East
  1. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  2. Company Profiles
  • Siemens AG,
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Acuity Brands, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • United Technologies Corporation,
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Samsung Electronics Co., Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Legrand, Nest Labs Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Johnson Controls Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Schneider Electric SE
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ABB Group.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The Smart Home Market report segments the market basis of intelligent virtual assistant, application, component and region.

Increasing advancement in smart home technology and not limiting it to turning off lights, dimming lights, and closing curtains is expected to foster the growth of Smart Home Market.

Asia Pacific to register the highest CAGR during the forecast period

The leading players operating in the Smart Home Market include Siemens AG, Ingersoll-Rand plc., Acuity Brands, Inc., United Technologies Corporation, Samsung Electronics Co., Ltd., Legrand, Nest Labs Inc., Johnson Controls Inc., Schneider Electric SE, and ABB Group.