Latin America Smart Home Market Size & Outlook, 2023-2030
Latin America smart home market, 2018-2030 (US$M)
Related Markets
Latin America smart home market highlights
- The Latin America smart home market generated a revenue of USD 6,160.7 million in 2023.
- The market is expected to grow at a CAGR of 30.7% 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.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 6,160.7 million |
| Market revenue in 2030 | USD 40,123.9 million |
| Growth rate | 30.7% (CAGR from 2023 to 2030) |
| Largest segment | Security & access controls |
| Fastest growing segment | Smart Kitchen Appliances |
| 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, Latin America region accounted for 6.1% 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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Latin America 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 25.77% in 2023. Horizon Databook has segmented the Latin America 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 smart home market in Latin America was valued at USD 4,746.2 million in 2022 and is estimated to grow at a CAGR of 30.7% from 2023 to 2030. The region’s growth is attributed to the increase in the construction of commercial spaces along with the growing partnership between the market players to deliver enhanced customer experience.
For instance, in October 2022, Liberty Latin America, a telecommunication company partnered with Plume Design, Inc., a Software-as-a-Service company to deliver next generation smart home services in Puerto Rico region. Such partnerships in the region are expected to drive the smart home market growth over the forecast period.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America smart home market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America smart home market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America smart home market size, by country, 2018-2030 (US$M)
Latin America Smart Home Market Outlook Share, 2023 & 2030 (US$M)
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