Market Overview:
The global smart home system market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient homes, rising awareness about the benefits of smart home systems, and growing adoption of IoT-enabled devices. The global smart home system market is segmented on the basis of type into energy management systems, lighting control, security & access control, entertainment control, and others. The energy management systems segment is expected to account for the largest share of the global smart home system market in 2018. This segment is projected to grow at a CAGR of 11% during the forecast period from 2018 to 2030. The growth in this segment can be attributed to increasing demand for energy-efficient homes and rising awareness about benefits offered by these systems such as reduction in electricity bills and improved comfort levels. On the basis of application, residential applications are expected account for majority share followed by commercial applications duringthe forecast period from2018to2030 .
Product Definition:
A Smart Home system is a network of devices in your home that can be controlled remotely using a smartphone or computer. Smart Home systems can include features like climate control, security, lighting, and entertainment. They are often used to make it easier to manage tasks like turning off lights when you leave the house or adjusting the temperature before you get home. Smart Home systems can also help you save energy and money by controlling how much power your devices use.
Energy Management Systems:
Energy management systems are the part of smart home system and they are responsible for controlling, monitoring and optimizing energy consumption in a building or any other structure. It helps to reduce power losses, automate control processes and optimize performance. ESSENTIAL is the most widely used term in this industry as it covers all aspects of technology that supports an organization's efforts to achieve sustainability goals while also providing value-added benefits such as improved operational efficiency, customer satisfaction along with reducing operating costs.
Lighting Control:
Lighting control is a system which controls the amount of light entering into a room using dimmers, automatic switches and sensors. It helps in regulating the brightness of lights to provide better illumination for indoor activities like watching TV or reading. The smart home lighting control systems are equipped with advanced features such as motion detection, time-based switching and color variation which provides user convenience by reducing energy consumption.
Application Insights:
The residential application segment accounted for the largest share of more than 60.0% in 2017. The growth can be attributed to increasing adoption of smart home systems in single-family houses and multi-story apartments. Furthermore, rising demand for energy efficient lighting control solutions is also expected to drive the global smart home system market over the forecast period.
The commercial application segment is expected to expand at a CAGR of XX% from 2018 to 2030 owing to growing demand from corporate offices, hotels and hospitals among others segments that require advanced security and access control systems with remote monitoring capabilities across various buildings or even across multiple countries globally (GPS enabled).
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to increasing awareness regarding energy conservation and sustainable living, growing adoption of smart devices, and rising demand for connected homes. Moreover, presence of prominent players such as Google Inc.; Apple Inc.; Samsung Electronics Co., Ltd; and Amazon.com, Inc. is expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to increasing disposable income levels in developing countries such as India.
Growth Factors:
- Increasing demand for energy-efficient and smart homes
- Rising awareness about the benefits of smart home systems
- Proliferation of affordable smart home devices and systems
- Growing demand for connected homes and buildings
- Development of innovative technologies for smart home systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Home System Market Research Report
By Type
Energy Management Systems, Lighting Control, Security & Access Control, Entertainment Control, Others
By Application
Residential, Commercial
By Companies
ABB, Siemens, Schneider Electric, Ingersoll-Rand PLC, Legrand, Lutron Electronics, Emerson Electric, Crestron Electronics, Control4 Corporation, Honeywell International
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
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Smart Home System Market Report Segments:
The global Smart Home System market is segmented on the basis of:
Types
Energy Management Systems, Lighting Control, Security & Access Control, Entertainment Control, Others
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
Residential, Commercial
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:
- ABB
- Siemens
- Schneider Electric
- Ingersoll-Rand PLC
- Legrand
- Lutron Electronics
- Emerson Electric
- Crestron Electronics
- Control4 Corporation
- Honeywell International
Highlights of The Smart Home System 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:
- Energy Management Systems
- Lighting Control
- Security & Access Control
- Entertainment Control
- Others
- By Application:
- Residential
- Commercial
- 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 System 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 system is a collection of devices and software that work together to allow you to control your environment from a single location. This can include things like controlling the temperature in your home, turning on lights when you enter a room, and opening doors for you.
Some of the major players in the smart home system market are ABB, Siemens, Schneider Electric, Ingersoll-Rand PLC, Legrand, Lutron Electronics, Emerson Electric, Crestron Electronics, Control4 Corporation, Honeywell International.
The smart home system market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Home System Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Home System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Home System Market - Supply Chain
4.5. Global Smart Home System Market Forecast
4.5.1. Smart Home System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Home System Market Size (000 Units) and Y-o-Y Growth
4.5.3. Smart Home System Market Absolute $ Opportunity
5. Global Smart Home System Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Smart Home System Market Size and Volume Forecast by Type
5.3.1. Energy Management Systems
5.3.2. Lighting Control
5.3.3. Security & Access Control
5.3.4. Entertainment Control
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Smart Home System Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Smart Home System Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Smart Home System Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Smart Home System Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Smart Home System Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Smart Home System Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Smart Home System Demand Share Forecast, 2019-2026
9. North America Smart Home System Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Smart Home System Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Smart Home System Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Smart Home System Market Size and Volume Forecast by Type
9.7.1. Energy Management Systems
9.7.2. Lighting Control
9.7.3. Security & Access Control
9.7.4. Entertainment Control
9.7.5. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Smart Home System Demand Share Forecast, 2019-2026
10. Latin America Smart Home System Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Smart Home System Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Smart Home System Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Smart Home System Market Size and Volume Forecast by Type
10.7.1. Energy Management Systems
10.7.2. Lighting Control
10.7.3. Security & Access Control
10.7.4. Entertainment Control
10.7.5. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Smart Home System Demand Share Forecast, 2019-2026
11. Europe Smart Home System Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Smart Home System Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Smart Home System Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Smart Home System Market Size and Volume Forecast by Type
11.7.1. Energy Management Systems
11.7.2. Lighting Control
11.7.3. Security & Access Control
11.7.4. Entertainment Control
11.7.5. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Smart Home System Demand Share, 2019-2026
12. Asia Pacific Smart Home System Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Smart Home System Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Smart Home System Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Smart Home System Market Size and Volume Forecast by Type
12.7.1. Energy Management Systems
12.7.2. Lighting Control
12.7.3. Security & Access Control
12.7.4. Entertainment Control
12.7.5. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Smart Home System Demand Share, 2019-2026
13. Middle East & Africa Smart Home System Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Smart Home System Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Smart Home System Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Smart Home System Market Size and Volume Forecast by Type
13.7.1. Energy Management Systems
13.7.2. Lighting Control
13.7.3. Security & Access Control
13.7.4. Entertainment Control
13.7.5. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Smart Home System Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Smart Home System Market: Market Share Analysis
14.2. Smart Home System Distributors and Customers
14.3. Smart Home System Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABB
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Siemens
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Schneider Electric
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Ingersoll-Rand PLC
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Legrand
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Lutron Electronics
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Emerson Electric
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Crestron Electronics
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Control4 Corporation
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Honeywell International
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
