Asia Pacific Smart Home Market Size & Outlook, 2023-2030
Asia Pacific smart home market, 2018-2030 (US$M)
Related Markets
Asia Pacific smart home market highlights
- The Asia Pacific smart home market generated a revenue of USD 31,295.8 million in 2023.
- The market is expected to grow at a CAGR of 32.2% from 2024 to 2030.
- In terms of segment, security & access controls was the largest revenue generating product in 2023.
- Home Healthcare is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Japan is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 31,295.8 million |
| Market revenue in 2030 | USD 220,923.9 million |
| Growth rate | 32.2% (CAGR from 2023 to 2030) |
| Largest segment | Security & access controls |
| Fastest growing segment | Home Healthcare |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Security & Access Controls, Lighting Control, Entertainment Devices, HVAC, Smart Kitchen Appliances, Home Appliances, Smart Furniture, Home Healthcare, Other Devices |
| Key market players worldwide | LG Electronics Inc ADR, Siemens AG, Amazon.com Inc, Alphabet Inc Class A, Samsung Electronics Co Ltd, Schneider Electric SE, Legrand SA, Bosch, Assa Abloy AB Class B, Sony Group Corp, ABB Ltd, Koninklijke Philips NV, Honeywell International Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 31.2% of the global smart home market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 220,923.9 million by 2030.
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Smart Home Market Scope
Smart Home Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific smart home market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart home market will help companies and investors design strategic landscapes.
Security & access controls was the largest segment with a revenue share of 31.96% in 2023. Horizon Databook has segmented the Asia Pacific smart home market based on security & access controls, lighting control, entertainment devices, hvac, smart kitchen appliances, home appliances, smart furniture, home healthcare, other devices covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific region is predicted to grow at the fastest CAGR of 32.2% over the forecast period. The regional growth is attributed to the improved standard of living and rise in disposable income among individuals in the region.
The penetration of smartphones, the internet, and other digitally advanced equipment is expected to drive market growth in the region. In addition, the trend of using AI-based digital assistance for daily tasks, such as Siri and Alexa, significantly impacts market growth.
Moreover, Asian economies such as China are home to large manufacturing hubs for smart device sensors and IoT devices, which further drives market growth.
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Target buyers of Asia Pacific smart home market databook
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Our clientele includes a mix of smart home market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific smart home market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific smart home market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific smart home market size, by country, 2018-2030 (US$M)
Asia Pacific Smart Home Market Outlook Share, 2023 & 2030 (US$M)
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