NEW YORK, Feb. 23, 2023 /PRNewswire/ — The smart home market report has been published by Technavio. Market growth is estimated to accelerate at a CAGR of 18.36% and register an incremental growth of USD 133.01 billion during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market.
For more insights on the historic (2017 to 2021) and forecast market size (2022 to 2027) Download a PDF sample report
Smart Home Market Scope
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.36% |
Market growth 2023-2027 |
USD 133.01 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
15.87 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Allegion Public Ltd. Co., Alphabet Inc., Amazon.com Inc., Apple Inc., ASSA ABLOY AB, Comcast Corp., Honeywell International Inc., Hubbell Inc., Johnson Controls International Plc., Legrand SA, LG Corp., Lutron Electronics Co. Inc., Panasonic Holdings Corp., Raytheon Technologies Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schneider Electric SE, Snap One LLC, and Vivint Smart Home Inc |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Regional analysis
Based on region, the global smart home market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. North America is estimated to account for 37% of the growth of the global market over the forecast period. Factor such as the increasing consumer inclination toward home automation. Owing to a need to lead a luxurious lifestyle amid rising disposable income, an increasing number of homeowners are adopting home automation systems, which, in turn, is driving the growth of the global home market.
Company profiles
The smart home market report includes information on the key products and recent developments of leading vendors, including:
- ABB Ltd. – The company offers smart home solutions such as smart security cameras, smart light control, smart temperature control, and smart door entry system.
- Allegion Public Ltd. Co. – The company offers smart home appliances such as smart home locks and smart home thermostats.
- Alphabet Inc. – The company offers smart home security cameras such as Nest Cam and Nest mini through its subsidiary Google LLC.
- Amazon.com Inc. – The company offers smart home solutions such as Alexa voice control device, which can be connected to home lighting, smart cameras, smart TVs, and thermostats.
- Apple Inc.
- ASSA ABLOY AB
- Comcast Corp.
- Honeywell International Inc.
- Hubbell Inc.
- To gain access to more vendor profiles available with Technavio, Buy the report!
Market dynamics
The market is driven by factors such as growing consumer interest in home automation, an increase in crowdfunding campaigns, and the availability of a wide range of smart home products. However, the need for network coverage is hindering the market growth.
Competitive analysis
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others. Request a sample
Market segmentation
- Based on application, the smart home market is segmented into home entertainment, smart appliances, energy management, lighting control system and HVAC, and safety and security system.
- Based on technology, the market is segmented into wireless and wired
- Based on geography, the smart home market is segmented into North America, Europe, APAC, Middle East and Africa, and South America.
Related Reports:
The home automation market in India is estimated to grow at a CAGR of 15.13% between 2021 and 2026. The size of the market is forecasted to increase by USD 3.58 billion. The increased reliance on wireless technologies is notably driving the home automation market growth in India, although factors such as the high cost of installing home automation systems may impede the market growth.
The home security system market size is expected to increase by USD 21.53 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.8%. The growth of DIY home security systems is notably driving the home security system market growth, although factors such as increasing instances of false alarms may impede the market growth.
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What are the key data covered in this smart home market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the smart home market between 2023 and 2027
- Precise estimation of the smart home market size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market industry across North America, Middle East and Africa, Europe, APAC, and South America
- Thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of smart home market vendors
Table of contents:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global smart home market 2017 – 2021
- Exhibit 18: Historic Market Size – Data Table on Global smart home market 2017 – 2021 ($ billion)
- 4.2 Application Segment Analysis 2017 – 2021
- Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 ($ billion)
- 4.3 Technology Segment Analysis 2017 – 2021
- Exhibit 20: Historic Market Size – Technology Segment 2017 – 2021 ($ billion)
- 4.4 Geography Segment Analysis 2017 – 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)
- 4.5 Country Segment Analysis 2017 – 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 30: Chart on Application – Market share 2022-2027 (%)
- Exhibit 31: Data Table on Application – Market share 2022-2027 (%)
- 6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application
- 6.3 Home entertainment – Market size and forecast 2022-2027
- Exhibit 34: Chart on Home entertainment – Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Data Table on Home entertainment – Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Chart on Home entertainment – Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Home entertainment – Year-over-year growth 2022-2027 (%)
- 6.4 Smart appliances – Market size and forecast 2022-2027
- Exhibit 38: Chart on Smart appliances – Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Data Table on Smart appliances – Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Chart on Smart appliances – Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Smart appliances – Year-over-year growth 2022-2027 (%)
- 6.5 Energy management – Market size and forecast 2022-2027
- Exhibit 42: Chart on Energy management – Market size and forecast 2022-2027 ($ billion)
- Exhibit 43: Data Table on Energy management – Market size and forecast 2022-2027 ($ billion)
- Exhibit 44: Chart on Energy management – Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Energy management – Year-over-year growth 2022-2027 (%)
- 6.6 Lighting control system and HVAC – Market size and forecast 2022-2027
- Exhibit 46: Chart on Lighting control system and HVAC – Market size and forecast 2022-2027 ($ billion)
- Exhibit 47: Data Table on Lighting control system and HVAC – Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Chart on Lighting control system and HVAC – Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Lighting control system and HVAC – Year-over-year growth 2022-2027 (%)
- 6.7 Safety and security system – Market size and forecast 2022-2027
- Exhibit 50: Chart on Safety and security system – Market size and forecast 2022-2027 ($ billion)
- Exhibit 51: Data Table on Safety and security system – Market size and forecast 2022-2027 ($ billion)
- Exhibit 52: Chart on Safety and security system – Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on Safety and security system – Year-over-year growth 2022-2027 (%)
- 6.8 Market opportunity by Application
- Exhibit 54: Market opportunity by Application ($ billion)
7 Market Segmentation by Technology
- 7.1 Market segments
- Exhibit 55: Chart on Technology – Market share 2022-2027 (%)
- Exhibit 56: Data Table on Technology – Market share 2022-2027 (%)
- 7.2 Comparison by Technology
- Exhibit 57: Chart on Comparison by Technology
- Exhibit 58: Data Table on Comparison by Technology
- 7.3 Wireless – Market size and forecast 2022-2027
- Exhibit 59: Chart on Wireless – Market size and forecast 2022-2027 ($ billion)
- Exhibit 60: Data Table on Wireless – Market size and forecast 2022-2027 ($ billion)
- Exhibit 61: Chart on Wireless – Year-over-year growth 2022-2027 (%)
- Exhibit 62: Data Table on Wireless – Year-over-year growth 2022-2027 (%)
- 7.4 Wired – Market size and forecast 2022-2027
- Exhibit 63: Chart on Wired – Market size and forecast 2022-2027 ($ billion)
- Exhibit 64: Data Table on Wired – Market size and forecast 2022-2027 ($ billion)
- Exhibit 65: Chart on Wired – Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on Wired – Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Technology
- Exhibit 67: Market opportunity by Technology ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 69: Chart on Market share by geography 2022-2027 (%)
- Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 71: Chart on Geographic comparison
- Exhibit 72: Data Table on Geographic comparison
- 9.3 North America – Market size and forecast 2022-2027
- Exhibit 73: Chart on North America – Market size and forecast 2022-2027 ($ billion)
- Exhibit 74: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
- Exhibit 75: Chart on North America – Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on North America – Year-over-year growth 2022-2027 (%)
- 9.4 Europe – Market size and forecast 2022-2027
- Exhibit 77: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
- Exhibit 78: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
- Exhibit 79: Chart on Europe – Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on Europe – Year-over-year growth 2022-2027 (%)
- 9.5 APAC – Market size and forecast 2022-2027
- Exhibit 81: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
- Exhibit 82: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
- Exhibit 83: Chart on APAC – Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on APAC – Year-over-year growth 2022-2027 (%)
- 9.6 Middle East and Africa – Market size and forecast 2022-2027
- Exhibit 85: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
- Exhibit 86: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
- Exhibit 87: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
- 9.7 South America – Market size and forecast 2022-2027
- Exhibit 89: Chart on South America – Market size and forecast 2022-2027 ($ billion)
- Exhibit 90: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
- Exhibit 91: Chart on South America – Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on South America – Year-over-year growth 2022-2027 (%)
- 9.8 US – Market size and forecast 2022-2027
- Exhibit 93: Chart on US – Market size and forecast 2022-2027 ($ billion)
- Exhibit 94: Data Table on US – Market size and forecast 2022-2027 ($ billion)
- Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)
- 9.9 Germany – Market size and forecast 2022-2027
- Exhibit 97: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
- Exhibit 98: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
- Exhibit 99: Chart on Germany – Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on Germany – Year-over-year growth 2022-2027 (%)
- 9.10 China – Market size and forecast 2022-2027
- Exhibit 101: Chart on China – Market size and forecast 2022-2027 ($ billion)
- Exhibit 102: Data Table on China – Market size and forecast 2022-2027 ($ billion)
- Exhibit 103: Chart on China – Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on China – Year-over-year growth 2022-2027 (%)
- 9.11 UK – Market size and forecast 2022-2027
- Exhibit 105: Chart on UK – Market size and forecast 2022-2027 ($ billion)
- Exhibit 106: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
- Exhibit 107: Chart on UK – Year-over-year growth 2022-2027 (%)
- Exhibit 108: Data Table on UK – Year-over-year growth 2022-2027 (%)
- 9.12 Canada – Market size and forecast 2022-2027
- Exhibit 109: Chart on Canada – Market size and forecast 2022-2027 ($ billion)
- Exhibit 110: Data Table on Canada – Market size and forecast 2022-2027 ($ billion)
- Exhibit 111: Chart on Canada – Year-over-year growth 2022-2027 (%)
- Exhibit 112: Data Table on Canada – Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 113: Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.3 Impact of drivers and challenges
- Exhibit 114: Impact of drivers and challenges in 2022 and 2027
11 Vendor Landscape
- 11.2 Vendor landscape
- Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 116: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 117: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 118: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 119: Matrix on vendor position and classification
- 12.3 ABB Ltd.
- Exhibit 120: ABB Ltd. – Overview
- Exhibit 121: ABB Ltd. – Business segments
- Exhibit 122: ABB Ltd. – Key offerings
- Exhibit 123: ABB Ltd. – Segment focus
- 12.4 Allegion Public Ltd. Co.
- Exhibit 124: Allegion Public Ltd. Co. – Overview
- Exhibit 125: Allegion Public Ltd. Co. – Business segments
- Exhibit 126: Allegion Public Ltd. Co. – Key news
- Exhibit 127: Allegion Public Ltd. Co. – Key offerings
- Exhibit 128: Allegion Public Ltd. Co. – Segment focus
- 12.5 Alphabet Inc.
- Exhibit 129: Alphabet Inc. – Overview
- Exhibit 130: Alphabet Inc. – Business segments
- Exhibit 131: Alphabet Inc. – Key news
- Exhibit 132: Alphabet Inc. – Key offerings
- Exhibit 133: Alphabet Inc. – Segment focus
- 12.6 Amazon.com Inc.
- Exhibit 134: Amazon.com Inc. – Overview
- Exhibit 135: Amazon.com Inc. – Business segments
- Exhibit 136: Amazon.com Inc. – Key news
- Exhibit 137: Amazon.com Inc. – Key offerings
- Exhibit 138: Amazon.com Inc. – Segment focus
- 12.7 Apple Inc.
- Exhibit 139: Apple Inc. – Overview
- Exhibit 140: Apple Inc. – Business segments
- Exhibit 141: Apple Inc. – Key news
- Exhibit 142: Apple Inc. – Key offerings
- Exhibit 143: Apple Inc. – Segment focus
- 12.8 ASSA ABLOY AB
- Exhibit 144: ASSA ABLOY AB – Overview
- Exhibit 145: ASSA ABLOY AB – Business segments
- Exhibit 146: ASSA ABLOY AB – Key offerings
- Exhibit 147: ASSA ABLOY AB – Segment focus
- 12.9 Honeywell International Inc.
- Exhibit 148: Honeywell International Inc. – Overview
- Exhibit 149: Honeywell International Inc. – Business segments
- Exhibit 150: Honeywell International Inc. – Key news
- Exhibit 151: Honeywell International Inc. – Key offerings
- Exhibit 152: Honeywell International Inc. – Segment focus
- 12.10 Johnson Controls International Plc.
- Exhibit 153: Johnson Controls International Plc. – Overview
- Exhibit 154: Johnson Controls International Plc. – Business segments
- Exhibit 155: Johnson Controls International Plc. – Key news
- Exhibit 156: Johnson Controls International Plc. – Key offerings
- Exhibit 157: Johnson Controls International Plc. – Segment focus
- 12.11 Legrand SA
- Exhibit 158: Legrand SA – Overview
- Exhibit 159: Legrand SA – Business segments
- Exhibit 160: Legrand SA – Key offerings
- Exhibit 161: Legrand SA – Segment focus
- 12.12 LG Corp.
- Exhibit 162: LG Corp. – Overview
- Exhibit 163: LG Corp. – Business segments
- Exhibit 164: LG Corp. – Key offerings
- Exhibit 165: LG Corp. – Segment focus
- 12.13 Panasonic Holdings Corp.
- Exhibit 166: Panasonic Holdings Corp. – Overview
- Exhibit 167: Panasonic Holdings Corp. – Business segments
- Exhibit 168: Panasonic Holdings Corp. – Key news
- Exhibit 169: Panasonic Holdings Corp. – Key offerings
- Exhibit 170: Panasonic Holdings Corp. – Segment focus
- 12.14 Raytheon Technologies Corp.
- Exhibit 171: Raytheon Technologies Corp. – Overview
- Exhibit 172: Raytheon Technologies Corp. – Business segments
- Exhibit 173: Raytheon Technologies Corp. – Key news
- Exhibit 174: Raytheon Technologies Corp. – Key offerings
- Exhibit 175: Raytheon Technologies Corp. – Segment focus
- 12.15 Samsung Electronics Co. Ltd.
- Exhibit 176: Samsung Electronics Co. Ltd. – Overview
- Exhibit 177: Samsung Electronics Co. Ltd. – Business segments
- Exhibit 178: Samsung Electronics Co. Ltd. – Key news
- Exhibit 179: Samsung Electronics Co. Ltd. – Key offerings
- Exhibit 180: Samsung Electronics Co. Ltd. – Segment focus
- 12.16 Schneider Electric SE
- Exhibit 181: Schneider Electric SE – Overview
- Exhibit 182: Schneider Electric SE – Business segments
- Exhibit 183: Schneider Electric SE – Key news
- Exhibit 184: Schneider Electric SE – Key offerings
- Exhibit 185: Schneider Electric SE – Segment focus
- 12.17 Snap One LLC
- Exhibit 186: Snap One LLC – Overview
- Exhibit 187: Snap One LLC – Product / Service
- Exhibit 188: Snap One LLC – Key news
- Exhibit 189: Snap One LLC – Key offerings
13 Appendix
- 13.2 Inclusions and exclusions checklist
- Exhibit 190: Inclusions checklist
- Exhibit 191: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 192: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 193: Research methodology
- Exhibit 194: Validation techniques employed for market sizing
- Exhibit 195: Information sources
- 13.5 List of abbreviations
- Exhibit 196: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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