Canada Smart Home Market Size & Outlook, 2023-2030
Canada smart home market, 2018-2030 (US$M)
Related Markets
Canada smart home market highlights
- The Canada smart home market generated a revenue of USD 6,159.9 million in 2023 and is expected to reach USD 26,435.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 23.1% from 2024 to 2030.
- In terms of segment, security & access controls was the largest revenue generating product in 2023.
- Smart Kitchen Appliances is the most lucrative product segment registering the fastest growth during the forecast period.
Smart home market data book summary
| Market revenue in 2023 | USD 6,159.9 million |
| Market revenue in 2030 | USD 26,435.3 million |
| Growth rate | 23.1% (CAGR from 2023 to 2030) |
| Largest segment | Security & access controls |
| Fastest growing segment | Smart Kitchen Appliances |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 6.1% of the global smart home market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. smart home market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 26,435.3 million by 2030.
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Smart Home Market Scope
Smart Home Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 29.16% in 2023. Horizon Databook has segmented the Canada 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.
Canada is anticipated to be the highest growing region in North America with a CAGR of 23.1% over the forecast period. The growth is attributed to the constantly improving technology along with the growing adoption of smart home technology in the country.
For instance, in July 2023, Telus Corporation, a Canadian multinational company, achieved a smart home milestone with over a million customers in Canada. The company has been regularly updating and developing its home security business and enhancing its customer experience, which is driving the smart home market growth in the region.
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Target buyers of Canada 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 country-level data and insights on the Canada smart home market , including forecasts for subscribers. This country databook contains high-level insights into Canada smart home market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada smart home market size, by product, 2018-2030 (US$M)
Canada Smart Home Market Outlook Share, 2023 & 2030 (US$M)
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