Market Overview:
The global smart home market is expected to grow from USD 33.68 billion in 2018 to USD 153.73 billion by 2030, at a CAGR of 18.6% during the forecast period. The growth of the market can be attributed to the increasing demand for energy-efficient and comfortable homes, growing awareness about smart home solutions, and rising adoption of IoT-enabled devices. The hardware segment is expected to hold the largest share of the global smart home market in 2018. This segment includes devices such as sensors, controllers, gateways, and hubs that enable communication between different subsystems in a smart home network.
Product Definition:
A smart home is a residence that is equipped with devices and systems that allow residents to control various functions of their homes remotely, from lights and temperature to security systems and entertainment.
Hardware:
Hardware is the part of smart home which includes devices like security cameras, door locks, light bulbs and others. The hardware segment has been growing at a very high rate due to its increasing demand from consumers for safety and convenience in their daily life. In addition, rising disposable income in developing countries including India has also increased the spending on these advanced products resulting into growth of hardware segment over the forecast period.
Software:
Software is the set of instructions which controls various devices connected to a network. In today's world, there are several smart home products available in the market which can be controlled through mobile applications or websites. The software used for controlling these devices is known as Smart Home Software or Control Panel Software etc.
The major factor driving this industry is increasing number of tech-savvy people and their inclination towards latest technologies.
Application Insights:
The entertainment and other control segment dominated the global smart home market in 2017. This can be attributed to growing demand for advanced security systems, which offer convenience and comfort along with enhanced safety at a reasonable cost. The lighting control application is expected to witness significant growth over the forecast period owing to its wide applications such as controlling of lights from mobile devices, dimming/color changing of lights, etc. Furthermore, integration with third-party services such as Amazon Echo or Google Home enables users to perform various tasks through voice command without the need for physical remote controllers.
The home healthcare segment is anticipated to exhibit considerable growth over the forecast period owing to increasing demand for connected medical devices that monitor a patient¢â‚¬â„¢s vitals remotely or through sensors locally on appliances and equipment that are connected directly into a user¢â‚¬â„¢s health network via Wi-Fi or 4G LTE wireless technology.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well, owing to increasing penetration of smart devices and growing adoption of IoT technologies. Europe accounted for a significant share in the global market in 2017 due to high demand for connected homes coupled with rapidly improving internet infrastructure and mobile network connectivity. Asia Pacific is projected to be one of the fastest-growing regional markets from 2018 to 2030 on account of increasing investments by various governments across countries such as China, Japan, South Korea, India and Australia for developing smart cities that can cater to people's daily needs through advanced technology integration. Moreover, rising disposable income levels will drive demand further during this period. Additionally, government initiatives encouraging individuals or households are likely candidates for adopting these systems are also anticipated contribute significantly towards regional growth over the next eight years (2018 - 2030).
Growth Factors:
- Increasing demand for energy-efficient and smart homes
- Proliferation of connected devices and the Internet of Things (IoT)
- Advances in artificial intelligence (AI) and machine learning
- Development of new platforms and ecosystems for smart home devices
- Growing demand for home security and automation
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Home Market Research Report
By Type
Hardware, Software
By Application
Lighting Control, Security & Access Control, HVAC, Entertainment & Other Control, Home Healthcare, Smart Kitchen, Home Appliances
By Companies
Siemens AG, United Technologies Corporation, General Electric Company, Schneider Electric, Honeywell International, Ingersoll-Rand PLC, Johnson Controls, ABB, Legrand, Samsung Electronics, Acuity Brands, Lutron Electronics, Leviton Manufacturing Company
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
150
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Smart Home Market Report Segments:
The global Smart Home market is segmented on the basis of:
Types
Hardware, Software
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Lighting Control, Security & Access Control, HVAC, Entertainment & Other Control, Home Healthcare, Smart Kitchen, Home Appliances
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Siemens AG
- United Technologies Corporation
- General Electric Company
- Schneider Electric
- Honeywell International
- Ingersoll-Rand PLC
- Johnson Controls
- ABB
- Legrand
- Samsung Electronics
- Acuity Brands
- Lutron Electronics
- Leviton Manufacturing Company
Highlights of The Smart Home Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- By Application:
- Lighting Control
- Security & Access Control
- HVAC
- Entertainment & Other Control
- Home Healthcare
- Smart Kitchen
- Home Appliances
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Home Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A smart home is a system that allows users to control and monitor various devices in their homes using an app or web interface. These systems can include things like lights, thermostats, security cameras, and more.
Some of the major companies in the smart home market are Siemens AG, United Technologies Corporation, General Electric Company, Schneider Electric, Honeywell International, Ingersoll-Rand PLC, Johnson Controls, ABB, Legrand, Samsung Electronics, Acuity Brands, Lutron Electronics, Leviton Manufacturing Company.
The smart home market is expected to grow at a compound annual growth rate of 18.6%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Home Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Home Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Home Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Home Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Home Market Size & Forecast, 2020-2028
4.5.1 Smart Home Market Size and Y-o-Y Growth
4.5.2 Smart Home Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Lighting Control
6.2.2 Security & Access Control
6.2.3 HVAC
6.2.4 Entertainment & Other Control
6.2.5 Home Healthcare
6.2.6 Smart Kitchen
6.2.7 Home Appliances
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Home Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Home Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Lighting Control
9.10.2 Security & Access Control
9.10.3 HVAC
9.10.4 Entertainment & Other Control
9.10.5 Home Healthcare
9.10.6 Smart Kitchen
9.10.7 Home Appliances
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Lighting Control
10.10.2 Security & Access Control
10.10.3 HVAC
10.10.4 Entertainment & Other Control
10.10.5 Home Healthcare
10.10.6 Smart Kitchen
10.10.7 Home Appliances
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Lighting Control
11.10.2 Security & Access Control
11.10.3 HVAC
11.10.4 Entertainment & Other Control
11.10.5 Home Healthcare
11.10.6 Smart Kitchen
11.10.7 Home Appliances
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Lighting Control
12.10.2 Security & Access Control
12.10.3 HVAC
12.10.4 Entertainment & Other Control
12.10.5 Home Healthcare
12.10.6 Smart Kitchen
12.10.7 Home Appliances
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Lighting Control
13.10.2 Security & Access Control
13.10.3 HVAC
13.10.4 Entertainment & Other Control
13.10.5 Home Healthcare
13.10.6 Smart Kitchen
13.10.7 Home Appliances
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Home Market: Competitive Dashboard
14.2 Global Smart Home Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Siemens AG
14.3.2 United Technologies Corporation
14.3.3 General Electric Company
14.3.4 Schneider Electric
14.3.5 Honeywell International
14.3.6 Ingersoll-Rand PLC
14.3.7 Johnson Controls
14.3.8 ABB
14.3.9 Legrand
14.3.10 Samsung Electronics
14.3.11 Acuity Brands
14.3.12 Lutron Electronics
14.3.13 Leviton Manufacturing Company
