Nordic Countries Smart Home Market Size & Outlook

The smart home market in Nordic Countries is expected to reach a projected revenue of US$ 6,131.6 million by 2030. A compound annual growth rate of 26.3% is expected of Nordic Countries smart home market from 2024 to 2030.
Revenue, 2023 (US$M)
$1,199.3
Forecast, 2030 (US$M)
$6,131.6
CAGR, 2024 - 2030
26.3%
Report Coverage
Nordic Countries

Nordic Countries smart home market highlights

  • The Nordic Countries smart home market generated a revenue of USD 1,199.3 million in 2023 and is expected to reach USD 6,131.6 million by 2030.
  • The Nordic Countries market is expected to grow at a CAGR of 26.3% 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.

Smart home market data book summary

Market revenue in 2023USD 1,199.3 million
Market revenue in 2030USD 6,131.6 million
Growth rate26.3% (CAGR from 2023 to 2030)
Largest segmentSecurity & access controls
Fastest growing segmentHome Healthcare
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationSecurity & Access Controls, Lighting Control, Entertainment Devices, HVAC, Smart Kitchen Appliances, Home Appliances, Smart Furniture, Home Healthcare, Other Devices
Key market players worldwideLG 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, Nordic Countries accounted for 1.2% 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 Europe, UK smart home market is projected to lead the regional market in terms of revenue in 2030.
  • Russia is the fastest growing regional market in Europe and is projected to reach USD 13,900.0 million by 2030.

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Smart Home Market Companies

Name Profile # Employees HQ Website

Nordic Countries 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 36.05% in 2023. Horizon Databook has segmented the Nordic Countries 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.


  • Nordic Countries Smart Home Product Outlook (Revenue, USD Million, 2018-2030)
    • Security & Access Controls
      • Security Cameras
      • Video Door Phones
      • Smart Locks
      • Remote Monitoring Software & Services
      • Others
    • Lighting Control
      • Smart Lights
      • Relays & Switches
      • Occupancy Sensors
      • Dimmers
      • Other Products
    • Entertainment Devices
      • Smart Displays/TV
      • Streaming Devices
      • Sound bars and Speakers
    • HVAC
      • Smart Thermostats
      • Sensors
      • Smart Vents
      • Others
    • Smart Kitchen Appliances
      • Refrigerators
      • Dish Washers
      • Cooktops
      • Microwave/ovens
    • Home Appliances
      • Smart Washing Machines
      • Smart Water Heaters
      • Smart Vacuum Cleaners
    • Smart Furniture
    • Home Healthcare
    • Other Devices
  • Nordic Countries Smart Home Protocols Outlook (Revenue, USD Million, 2018-2030)
    • Wireless Protocols
      • Zigbee
      • Wi-Fi
      • Bluetooth
      • Z Wave
      • Others
    • Wired Protocols
    • Hybrid
  • Nordic Countries Smart Home Application Outlook (Revenue, USD Million, 2018-2030)
    • New Construction
    • Retrofit

Reasons to subscribe to Nordic Countries smart home market databook:

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Target buyers of Nordic Countries smart home market databook

  • Our clientele includes a mix of smart home market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
  • 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 Nordic Countries smart home market , including forecasts for subscribers. This country databook contains high-level insights into Nordic Countries smart home market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Nordic Countries smart home market size, by product, 2018-2030 (US$M)

Nordic Countries Smart Home Market Outlook Share, 2023 & 2030 (US$M)

Nordic Countries smart home market size, by product, 2018-2030 (US$M)

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