U.S. Smart Home Market Size & Outlook, 2023-2030
U.S. smart home market, 2018-2030 (US$M)
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U.S. smart home market highlights
- The U.S. smart home market generated a revenue of USD 29,609.0 million in 2023 and is expected to reach USD 119,183.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 22% 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 29,609.0 million |
| Market revenue in 2030 | USD 119,183.7 million |
| Growth rate | 22% (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, U.S. accounted for 29.5% 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 |
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U.S. 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 29.6% in 2023. Horizon Databook has segmented the U.S. 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 U.S. recorded the highest market share of 72.6% in 2022. The U.S. is the major contributor to the regional market growth owing to the presence of major companies, such as Amazon.com, Inc., Google Nest (Google LLC), Honeywell International, Inc., and their large-scale investments in smart home technology.
Moreover, the trend of acquiring latest technologies in smart devices due to the high disposable income of people across the country is expected to drive the market growth. For instance, in October 2022, Google Nest (Google LLC) launched Nest Doorbell (wired), Nest Wi-Fi Pro, and an update to the Google Home App.
The new products were available in U.S. within the same month. Such advanced product development by market players is expected to drive the market growth.
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Target buyers of U.S. 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 U.S. smart home market , including forecasts for subscribers. This country databook contains high-level insights into U.S. smart home market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. smart home market size, by product, 2018-2030 (US$M)
U.S. Smart Home Market Outlook Share, 2023 & 2030 (US$M)
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