North America Smart Home Market Size & Outlook, 2023-2030
North America smart home market, 2018-2030 (US$M)
Related Markets
North America smart home market highlights
- The North America smart home market generated a revenue of USD 35,768.8 million in 2023.
- The market is expected to grow at a CAGR of 22.2% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 35,768.8 million |
| Market revenue in 2030 | USD 145,619.5 million |
| Growth rate | 22.2% (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, North America region accounted for 35.6% 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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North 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 29.53% in 2023. Horizon Databook has segmented the North 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 North America was valued at USD 29,209.2 million in 2022 and is estimated to grow at a CAGR of 22.2% from 2023 to 2030. The growth is driven by the growing adoption of smart home devices to reduce energy charges and maximize energy efficiency.
Additionally, as per the US Department of Energy, the maximum utilization of electricity is from the buildings sector, leading to a major contributor to greenhouse gas emissions.
As a result, reducing energy usage in buildings is required to meet national energy and environmental issues while also lowering expenses for building owners and tenants, which is expected to drive the smart home market growth over the forecast period.
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Target buyers of North America 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 North America smart home market , including forecasts for subscribers. This continent databook contains high-level insights into North America smart home market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America smart home market size, by country, 2018-2030 (US$M)
North America Smart Home Market Outlook Share, 2023 & 2030 (US$M)
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