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Smart Home Market Size, Share And Trends Report, 2030GVR Report cover
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Smart Home Market Size, Share & Trends Analysis Report By Products (Lighting Control, Security & Access Controls), By Application (New Construction, Retrofit), By Protocols (Wireless, Wired), By Region, And Segment Forecasts, 2023 - 2030
- Report ID: 978-1-68038-041-5
- Number of Report Pages: 148
- Format: PDF, Horizon Databook
- Historical Range: 2018 - 2021
- Forecast Period: 2023 - 2030
- Industry: Technology
Smart Home Market Size & Trends
The global smart home market size was valued at USD 79.16 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 27.07% from 2023 to 2030. Smart home products are available in the form of cameras, smart lights, streaming devices, dishwashers, and more. Growing trend of integrating Artificial Intelligence (AI) in smart home products for smart features is expected to increase product demand. Moreover, high penetration rate of smartphones and the internet globally is driving the demand for connected smart home products. Digital assistance integrated with AI is offering users a hands-free and more user-friendly deployment of smart devices, significantly impacting the buyers’ preferences.
Growing use of virtual assistants, such as Siri, Google Assistant, and Alexa, enables users to use voice commands for task automation. The emerging features of these digital assistants, such as Bluetooth speakers and hands-free channel surfing, among others are driving the demand for smart home devices. For instance, in October 2022, Google updated its assistant to support voice-input message typing along with emoji support for convenience in messaging for users. Rapid adoption of modern technologies, such as Internet of Things (IoT), blockchain, smart voice recognition, and AI, is significantly impacting the market growth.
For instance, smart voice recognition technology enables smart home products with a mic to recognize users’ voices and give them personalized responses. Similarly, an increased adoption rate of IoT in developing and developed regions has also contributed to the growth of this market. The capability of technologies to allow connectivity between devices has helped in generating demand for smart home market. The COVID-19 pandemic shut down industries and affected the manufacturing of smart home devices. However, due to stringent lockdowns around the world, people were forced to stay at home.
As a result, people turned towards entertainment in the form of TV shows and movies, which caused a surge in demand for smart TVs and entertainment centres. In addition, there was a rise in the trend for smart homes as they offered automation in tasks following social distancing regulations. Although supply chain disruptions were present, the pandemic and its impacts also revealed significant shortcomings in the digital device and internet infrastructure sectors. As supplies decreased and production lagged, there were not enough semiconductors available to support smart products. This impacted the companies that manufacture smart home products.
Market Dynamics
GROWING DEMAND FOR SMART SECURITY & ACCESS SYSTEMS
One of the major concerns in every household across the globe is the fear of theft and burglary. According to the Federal Bureau of Investigation (FBI) statistics, a burglary occurs every 30 seconds across the U.S, adding up to over 3,000 burglar strikes per day. This has brought up significant installation of Closed-Circuit Televisions (CCTVs) around the premises of the properties, including household, office areas, driveways, and others. However, the various challenges associated with CCTVs, such as the ability of these cameras to only record footage and not prevent intrusions, requirement of high bandwidth and connectivity for remote monitoring, and others, is resulting in the growing demand for smart surveillance systems to ensure safety by detecting, deterring, and reporting intrusions. Smart surveillance system deploys sensors and computer vision to detect the actions and report real-time. It also enables the user to keep a backup of valuable footage on the cloud safely and allows connecting and controlling the entire location remotely.
INCREASING PENETRATION FOR GREEN AND ENERGY EFFICIENT SOLUTIONS
Increased human needs and wants to carry out day-to-day activities lead to a substantial amount of carbon emission into the atmosphere, resulting in global warming. The careless and over deployment of electricity is one of the major causes of global warming. With the introduction of smart technology and smart systems, several innovative devices have been developed to reduce energy usage and consumption in households, making them greener and more sustainable. Smart home devices, including smart thermostats, smart sprinkler systems, smart bulbs, smart meters, smart composters, and smart power strips, allow individuals to control and monitor power consumption, save energy, and help to reduce carbon emissions footprint. The ability of smart devices to be an energy-efficient solution offering sustainable solutions for environment is driving the growth of smart home automation market.
Products Insights
Security & access control segment dominated the industry in 2022 and accounted for the highest share of more than 30.40% of the overall revenue. This growth is attributed to the increasing demand for smart security solutions and the need to allow authorized access to safes or rooms with valuable items. Smart locks and security cameras help monitor and authorize access only for permitted individuals by incorporating live feed playback, custom PINs, fingerprint scanners, and more. For instance, in September 2022, Amazon.com, Inc. unveiled Ring Spotlight Cam Plus, Ring Spotlight Cam Pro, and 2nd Gen Ring Alarm Panic Button for security and access control purposes using radar and 3D motion detection features.
The home healthcare segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the trend of consumers preferring smart home healthcare products to self-diagnose, owing to rising healthcare and insurance costs. The trend of fitness and health consciousness among people is also driving the segment’s growth. For instance, consumers are using home healthcare products to monitor their key vitals, such as oxygen and blood pressure levels. Earlier, this was possible only after visiting a hospital or a clinic; however, smart home healthcare products have enabled consumers to conduct basic testing at home.
Protocols Insights
Wireless protocols segment is expected to grow at the highest CAGR of 27.75% over the forecast period. The segment also recorded the largest market share in 2022. This strong growth is attributed to the capabilities and features offered, such as mobile connectivity, connectivity regardless of location, and more by protocols namely, ZigBee, Wi-Fi, Bluetooth, Z Wave, and others. Manufacturers prefer protocols, which offer smooth communication, with less to no impact on battery life and range.
For instance, ZigBee protocol provides longer battery life as it operates on lower latency and a low-duty cycle for instant device-to-device communication. The wired protocols segment is expected to grow at a significant CAGR from 2023 to 2030 as a result of the traditional products with built-in Ethernet or cable ports. Wired protocols often connect and help operate a hub of smart home devices at a central location. The secureness of wires laid behind walls and fewer connectivity issues is a driving trends for wired protocols. The rising demand for low-latency smart home products is expected to push the segment growth over the forecast period.
Application Insights
On the basis of applications, the global industry has been bifurcated into new construction and retrofit. The new construction segment is expected to register the fastest growth rate of more than 28.55% over the forecast period. This is mainly due to the convenience and ease of installing smart home devices at ongoing construction projects. Moreover, an increasing number of new residential construction projects around the world is expected to augment the demand for smart homes following the trend of smart security and access features.
Owners of new construction projects are also likely to install multiple smart home products as a result of ease of logistics involved in fixing the devices. The retrofit segment dominated the global industry in 2022 and accounted for the highest share of the overall revenue in the same year. Many homeowners retrofit their existing homes by installing one or multiple smart products based on logistics and budget. Due to easy product availability, there is a rise in trend of smart homes, which drives the growth of this segment.
Regional Insights
Asia Pacific smart home market will account for the fastest CAGR of 32.21% over the forecast period. This growth is attributed to the improved standard of living and rise in disposable income among individuals in the region. Penetration of smartphones, the internet, and other digitally advanced equipment is expected to drive market growth in the region. Furthermore, the trend of using AI-based digital assistance for daily tasks, such as Siri and Alexa, significantly impacts market growth.
Europe smart home market is expected to grow at a steady CAGR from 2023 to 2030. The region recorded a significant market share in 2022. This growth can be attributed to the presence of key players in the region, including ABB, Legrand, Schneider Electric SE, Siemens, Robert Bosch GmbH, and others. Also, increased standard of living, high Gross Domestic Product (GDP), technologically friendly population, and favourable government initiatives support the growth of smart home devices and technologies, which is expected to drive the regional market.
Key Companies & Market Share Insights
Key players use strategies, such as partnerships, acquisitions, ventures, innovations, R&D, and geographical expansions, to solidify their industry position. Companies are also focusing on improving their product offerings to better suit the changing needs of users to stay competitive. For instance, in August 2022, Amazon.com, Inc. launched its wall echo, sound bot, wall echo, and home robot as part of the company’s yearly model upgrade. Launch is expected to be in line with the company’s aim to counter upcoming competitive companies. Key companies are investing substantial capital in ventures, development, and research in modern technologies.
For instance, in January 2022, Samsung Electronics Co., Ltd. partnered with Oracle Corp. to develop smart energy solutions for its customers and combine Oracle’s contextual and behavioural energy insights with Samsung’s SmartThings products and automation services. This partnership is aimed at providing new and valuable features in their product offerings. Key players are also developing additional capabilities for smart home products to support their use in new construction homes as well as retrofit home fitments. Some prominent players in the global smart home market include:
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Amazon.com, Inc.
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Google Nest (Google LLC)
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Schneider Electric SE
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Legrand S.A.
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Robert Bosch GmbH
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Assa Abloy AB
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Sony Group Corp.
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ABB, Ltd.
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Philips Lighting B.V.
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Honeywell International, Inc.
View a comprehensive list of companies in the Smart Home Market
Recent Development
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In January 2023, Schneider Electric acquired AVEVA plc to use AVEVA plc’s advanced software capabilities to introduce modern automation solutions for residential, commercial, and building complexes. The acquisition is expected to grow Schneider Electric’s home automation offering.
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In April 2022, ABB Ltd. launched a collaboration with Samsung Electronics Co., Ltd. to expand its home automation portfolio. The collaboration will make it easier for new customers to reduce costs and create a positive impact on the environment.
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In September 2022, Lutron Electronics Co., Inc. launched its Diva Smart Dimmer and Claro Smart Switch for smart lighting automation in homes which also has a wireless option.
Smart Home Market Report Scope
Report Attribute
Details
Market size value in 2023
USD 100.42 billion
Revenue forecast in 2030
USD 537.01 billion
Growth rate
CAGR of 27.07% from 2023 to 2030
Base year for estimation
2022
Historical data
2018 - 2021
Forecast period
2023 - 2030
Report updated
April 2023
Quantitative units
Revenue in USD million/billion and CAGR from 2023 to 2030
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Products, protocols, application, region
Regional scope
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria
Key companies profiled
LG Electronics, Inc.; Siemens AG; Amazon.com, Inc.; Google Nest (Google LLC); Samsung Electronics Co., Ltd.; Schneider Electric SE; Legrand SA; Robert Bosch GmbH; Assa Abloy AB; Sony Group Corp.; ABB, Ltd.; Philips Lighting B.V.; Honeywell International, Inc.
Customization scope
Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
Global Smart Home Market Segmentation
This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the smart home market based on products, protocols, application, and region:
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Products Outlook (Revenue, USD Million, 2018 - 2030)
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Security & Access Controls
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Security Cameras
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Video Door Phones
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Smart Locks
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Remote Monitoring Software & Services
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Others
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Lighting Control
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Smart Lights
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Relays & Switches
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Occupancy Sensors
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Dimmers
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Other Products
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Entertainment Devices
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Smart Displays/TV
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Streaming Devices
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Sound Bars & Speakers
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HVAC
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Smart Thermostats
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Sensors
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Smart Vents
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Others
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Smart Kitchen Appliances
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Refrigerators
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Dish Washers
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Cooktops
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Microwave/Ovens
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Home Appliances
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Smart Washing Machines
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Smart Water Heaters
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Smart Vacuum Cleaners
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Smart Furniture
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Home Healthcare
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Other Devices
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Protocols Outlook (Revenue, USD Million, 2018 - 2030)
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Wireless Protocols
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ZigBee
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Wi-Fi
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Bluetooth
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Z Wave
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Others
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Wired Protocols
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Hybrid
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Application Outlook (Revenue, USD Million, 2018 - 2030)
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New Construction
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Retrofit
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Regional Outlook (Revenue, USD Million, 2018 - 2030)
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North America
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U.S.
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Canada
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Europe
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U.K.
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Germany
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France
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Italy
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Spain
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Benelux
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Nordic Countries
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Russia
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Asia Pacific
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China
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India
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Japan
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South Korea
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Australia
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Indonesia
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Thailand
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Latin America
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Brazil
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Mexico
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Argentina
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Middle East & Africa
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Saudi Arabia
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South Africa
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UAE
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Egypt
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Nigeria
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Frequently Asked Questions About This Report
b. The global smart home market size was estimated at USD 79.16 billion in 2022 and is expected to reach USD 100.42 billion in 2023.
b. The global smart home market is expected to grow at a compound annual growth rate of 27.07% from 2023 to 2030 to reach USD 537.01 billion by 2030.
b. North America dominated the smart home market with a share of 26.9% in 2022. This is attributable to the increasing adoption of smart devices in the residential vertical to improve the standard of living.
b. Some key players operating in the smart home market include LG, Electronics, Inc., Siemens AG, Amazon .com, Google Nest (Google LLC), Samsung Electronics Co.,Ltd., Schneider Electric SE, Legrand S.A., Robert Bosch GmbH, Assa Abloy AB, Sony Group Corporation, ABB Ltd., Philips Lighting B.V., Honeywell International, Inc.
b. Key factors that are driving the market growth include the growing need for smart security & surveillance systems, and increasing demand for low carbon emission-oriented and energy-saving solutions.
Table of Contents
Chapter 1 Smart Home Market: Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Information analysis
1.3.2 Market formulation & data visualization
1.3.3 Data validation & publishing
1.4 Research Scope and Assumptions
1.4.1 List to data sources
Chapter 2 Smart Home Market: Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Smart Home Market: Industry Outlook
3.1 Market Lineage
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Growing need for smart security & surveillance systems
3.3.1.2 Increasing disposable income and inclination for smart and luxurious lifestyle in developing countries
3.3.1.3 Increasing demand for low carbon emission-oriented and energy-saving solutions
3.3.2 Market restraint analysis
3.3.2.1 High installation and maintenance charges
3.3.2.2 Compatibility issues of smart devices from various manufacturers or vendors
3.4 Industry Opportunities & Challenges
3.5 Industry Analysis Tools
3.5.1 Porter’s analysis
3.5.2 Macroeconomic analysis
3.6 Impact of Semiconductor Shortage on Smart Home Supply Chain
3.7 Key Trends
3.7.1 Technological trends
3.7.2 Economic trends
3.8 Consumer Buying Behavior Analysis
3.8.1 Consumer trends & preferences
3.8.2 Factors affecting buying decision
3.8.3 Consumer product adoption
3.8.4 Observations & recommendations
3.9 Emergence of AI in Smart Home Ecosystem
3.10 COVID-19 Impact on the Smart Home Market
Chapter 4 Smart Home Market Product Outlook
4.1 Smart Home Market Share By Product, 2018 - 2030 (USD Million)
4.2 Product Movement Analysis & Market Share, 2022 & 2030
4.3 Smart Home Market Estimates & Forecast, By Product (USD Million)
4.3.1 Security & Access Control
4.3.1.1 Security Cameras
4.3.1.2 Video Door Phones
4.3.1.3 Smart Locks
4.3.1.4 Remote Monitoring Software & Services
4.3.1.5 Others
4.3.2 Lighting Control
4.3.2.1 Smart Lights
4.3.2.2 Relays & Switches
4.3.2.3 Occupancy Sensors
4.3.2.4 Dimmers
4.3.2.5 Other Products
4.3.3 Entertainment Devices
4.3.3.1 Smart Displays/TV
4.3.3.2 Streaming Devices
4.3.3.3 Sound bars and Speakers
4.3.4 HVAC
4.3.4.1 Smart Thermostats
4.3.4.2 Sensors
4.3.4.3 Smart Vents
4.3.4.4 Others
4.3.5 Smart Kitchen Appliances
4.3.5.1 Refrigerators
4.3.5.2 Dish Washers
4.3.5.3 Cooktops
4.3.5.4 Microwave/ovens
4.3.6 Home Appliances
4.3.6.1 Smart Washing Machines
4.3.6.2 Smart Water Heaters
4.3.6.3 Smart Vacuum Cleaners
4.3.7 Smart Furniture
4.3.8 Home Healthcare
4.3.9 Other Devices
Chapter 5 Smart Home Market Protocol Outlook
5.1 Smart Home Market Share By Protocol, 2018 - 2030 (USD Million)
5.2 Protocol Movement Analysis & Market Share, 2022 & 2030
5.3 Smart Home Market Estimates & Forecast, By Protocol (USD Million)
5.3.1 Wireless Protocols
5.3.1.1 ZigBee
5.3.1.2 Wi-Fi
5.3.1.3 Bluetooth
5.3.1.4 Z Waves
5.3.1.5 Others
5.3.2 Wired Protocols
5.3.3 Hybrid
Chapter 6 Smart Home Market Application Outlook
6.1 Smart Home Market Share By Application, 2018 - 2030 (USD Million)
6.2 Application Movement Analysis & Market Share, 2022 & 2030
6.3 Smart Home Market Estimates & Forecast, By Application (USD Million)
6.3.1 New Construction
6.3.2 Retrofit
Chapter 7 Smart Home Regional Outlook
7.1 Smart Home Market Share By Region, 2022 & 2030
7.2 North America
7.2.1 North America smart home market, 2018 - 2030
7.2.2 U.S.
7.2.2.1 U.S. smart home market, 2018 - 2030 (USD Million)
7.2.3 Canada
7.2.3.1 Canada smart home market, 2018 - 2030 (USD Million)
7.3 Europe
7.3.1 Europe smart home market, 2018 - 2030
7.3.2 U.K.
7.3.2.1 U.K. smart home market, 2018 - 2030 (USD Million)
7.3.3 Germany
7.3.3.1 Germany smart home market, 2018 - 2030 (USD Million)
7.3.4 Italy
7.3.4.1 Italy smart home market, 2018 - 2030 (USD Million)
7.3.5 France
7.3.5.1 France smart home market, 2018 - 2030 (USD Million)
7.3.6 Spain
7.3.6.1 Spain smart home market 2018 - 2030 (USD Million)
7.3.7 Benelux
7.3.7.1 Benelux smart home market, 2018 - 2030 (USD Million)
7.3.8 Nordic Countries
7.3.8.1 Nordic Countries smart home market, 2018 - 2030 (USD Million)
7.3.9 Russia
7.3.9.1 Russia smart home market 2018 - 2030 (USD Million)
7.4 Asia Pacific
7.4.1 Asia Pacific smart home market, 2018 - 2030
7.4.2 China
7.4.2.1 China smart home market, 2018 - 2030 (USD Million)
7.4.3 Japan
7.4.3.1 Japan smart home market, 2018 - 2030 (USD Million)
7.4.4 South Korea
7.4.4.1 South Korea smart home market, 2018 - 2030 (USD Million)
7.4.5 India
7.4.5.1 India smart home market, 2018 - 2030 (USD Million)
7.4.6 Australia
7.4.6.1 Australia smart home market, 2018 - 2030 (USD Million)
7.4.7 Indonesia
7.4.7.1 Indonesia smart home market, 2018 - 2030 (USD Million)
7.4.8 Thailand
7.4.8.1 Thailand smart home market, 2018 - 2030 (USD Million)
7.5 Latin America
7.5.1 South America smart home market, 2018 - 2030
7.5.2 Brazil
7.5.2.1 Brazil smart home market, 2018 - 2030 (USD Million)
7.5.3 Mexico
7.5.3.1 Mexico smart home market, 2018 - 2030 (USD Million)
7.5.4 Argentina
7.5.4.1 Argentina smart home market, 2018 - 2030 (USD Million)
7.6 MEA
7.6.1 MEA smart home market, 2018 - 2030
7.6.2 Saudi Arabia
7.6.2.1 Saudi Arabia smart home market, 2018 - 2030 (USD Million)
7.6.3 UAE
7.6.3.1 UAE smart home market, 2018 - 2030 (USD Million)
7.6.4 Egypt
7.6.4.1 Egypt smart home market, 2018 - 2030 (USD Million)
7.6.5 South Africa
7.6.5.1 South Africa smart home market, 2018 - 2030 (USD Million)
7.6.6 Nigeria
7.6.6.1 Nigeria smart home market, 2018 - 2030 (USD Million)
Chapter 8 Competitive Landscape
8.1 Key Market Participants
8.1.1 LG Electronics
8.1.2 Siemens AG
8.1.3 Amazon.com, Inc.
8.1.4 Google Nest (Google LLC)
8.1.5 Samsung Electronics Co., Ltd.
8.1.6 Schneider Electric SE
8.1.7 Legrand SA
8.1.8 Robert Bosch GmbH
8.1.9 Assa Abloy AB
8.1.10 Sony Group Corporation
8.1.11 ABB Ltd.
8.1.12 Philips Lighting B.V.
8.1.13 Honeywell International, Inc.
8.2 Recent Developments & Impact Analysis, By Key Market Participants
8.3 Company Categorization
8.4 Participant’s Overview
8.5 Financial Performance
8.6 Product Benchmarking
8.7 Company Heat Map Analysis
8.8 Company Market Share Analysis, 2022
8.9 Strategy Mapping
8.9.1 Expansion
8.9.2 Mergers & acquisitions
8.9.3 Collaborations
8.9.4 New product launches
8.9.5 Research & development
List of Tables
TABLE 1 Smart home market - key market driver impact
TABLE 2 Key market restraint/challenges impact
TABLE 3 Global smart market revenue estimates and forecast, by product, 2018 - 2030 (USD Million)
TABLE 4 Global smart home market revenue estimates and forecast, by protocol, 2018 - 2030 (USD Million)
TABLE 5 Global smart home market revenue estimates and forecast, by application, 2018 - 2030 (USD Million)
TABLE 6 Company heat map analysis
TABLE 7 Key companies undergoing expansion
TABLE 8 Key companies involved in mergers & acquisitions
TABLE 9 Key companies involved in collaborations
TABLE 10 Key companies new product launches
TABLE 11 Key companies research & development
List of Figures
FIG. 1 Market snapshot
FIG. 2 Information procurement
FIG. 3 Data analysis models
FIG. 4 Market formulation and validation
FIG. 5 Data validating & publishing
FIG. 6 Market snapshot
FIG. 7 Segment snapshot
FIG. 8 Competitive landscape snapshot
FIG. 9 Smart home market value, 2022 & 2030 (USD Million)
FIG. 10 Key opportunity analysis
FIG. 11 Industry value chain analysis
FIG. 12 Market dynamics
FIG. 13 Porter’s analysis
FIG. 14 PESTEL analysis
FIG. 15 Smart home market, by product, key takeaways
FIG. 16 Smart home market, by product, market share, 2022 & 2030
FIG. 17 Security & access controls market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 18 Lighting control market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 19 Entertainment devices market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 20 HVAC market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 21 Smart kitchen appliances market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 22 Home appliances market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 23 Smart furniture market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 24 Home healthcare market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 25 Other devices market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 26 Smart home market, by protocol, key takeaways
FIG. 27 Smart home market, by protocol, market share, 2022 & 2030
FIG. 28 Wireless protocols market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 29 Wired protocols market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 30 Hybrid market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 31 Smart home market, by application, key takeaways
FIG. 32 Smart home market, by application, market share, 2022 & 2030
FIG. 33 New construction market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 34 Retrofit market estimates & forecasts, 2018 - 2030 (USD Million)
FIG. 35 Smart home market revenue, by region, 2022 & 2030, (USD Million)
FIG. 36 North America smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 37 U.S. smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 38 Canada smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 39 Europe smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 40 U.K. smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 41 Germany smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 42 Italy smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 43 France smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 44 Spain smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 45 Benelux smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 46 Nordic countries smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 47 Russia smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 48 Asia Pacific smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 49 China smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 50 Japan smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 51 South Korea smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 52 India smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 53 Australia smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 54 Indonesia smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 55 Thailand smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 56 Latin America smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 57 Brazil smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 58 Mexico smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 59 Argentina smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 60 MEA smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 61 Saudi Arabia smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 62 UAE smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 63 Egypt smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 64 South Africa smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 65 Nigeria smart home market estimates & forecast, 2018 - 2030 (USD Million)
FIG. 66 Strategic frameworkMarket Segmentation
- Smart Home Products 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
- Security & Access Controls
- Smart Home Protocols Outlook (Revenue, USD Million, 2018 - 2030)
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Smart Home Application Outlook (Revenue, USD Million, 2018 - 2030)
- New Construction
- Retrofit
- Smart Home Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- North America Smart Home Market, by Products Type
- 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
- Security & Access Controls
- North America Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- North America Smart Home Market, by Application
- New Construction
- Retrofit
- U.S.
- U.S. Smart Home Market, by Products Type
- 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
- Security & Access Controls
- U.S. Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- U.S. Smart Home Market, by Application
- New Construction
- Retrofit
- U.S. Smart Home Market, by Products Type
- Canada
- Canada Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Canada Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Canada Smart Home Market, by Application
- New Construction
- Retrofit
- Canada Smart Home Market, by Products Type
- North America Smart Home Market, by Products Type
- Europe
- Europe Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Europe Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Europe Smart Home Market, by Application
- New Construction
- Retrofit
- U.K.
- U.K. Smart Home Market, by Products Type
- 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
- Security & Access Controls
- U.K. Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- U.K. Smart Home Market, by Application
- New Construction
- Retrofit
- U.K. Smart Home Market, by Products Type
- Germany
- Germany Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Germany Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Germany Smart Home Market, by Application
- New Construction
- Retrofit
- Germany Smart Home Market, by Products Type
- France
- France Smart Home Market, by Products Type
- 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
- Security & Access Controls
- France Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- France Smart Home Market, by Application
- New Construction
- Retrofit
- France Smart Home Market, by Products Type
- Italy
- Italy Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Italy Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Italy Smart Home Market, by Application
- New Construction
- Retrofit
- Italy Smart Home Market, by Products Type
- Spain
- Spain Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Spain Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Spain Smart Home Market, by Application
- New Construction
- Retrofit
- Spain Smart Home Market, by Products Type
- Benelux
- Benelux Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Benelux Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Benelux Smart Home Market, by Application
- New Construction
- Retrofit
- Benelux Smart Home Market, by Products Type
- Nordic Countries
- Nordic Countries Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Nordic Countries Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Nordic Countries Smart Home Market, by Application
- New Construction
- Retrofit
- Nordic Countries Smart Home Market, by Products Type
- Russia
- Russia Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Russia Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Russia Smart Home Market, by Application
- New Construction
- Retrofit
- Russia Smart Home Market, by Products Type
- Europe Smart Home Market, by Products Type
- Asia Pacific
- Asia Pacific Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Asia Pacific Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Asia Pacific Smart Home Market, by Application
- New Construction
- Retrofit
- China
- China Smart Home Market, by Products Type
- 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
- Security & Access Controls
- China Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- China Smart Home Market, by Application
- New Construction
- Retrofit
- China Smart Home Market, by Products Type
- India
- India Smart Home Market, by Products Type
- 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
- Security & Access Controls
- India Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- India Smart Home Market, by Application
- New Construction
- Retrofit
- India Smart Home Market, by Products Type
- Japan
- Japan Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Japan Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Japan Smart Home Market, by Application
- New Construction
- Retrofit
- Japan Smart Home Market, by Products Type
- South Korea
- South Korea Smart Home Market, by Products Type
- 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
- Security & Access Controls
- South Korea Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- South Korea Smart Home Market, by Application
- New Construction
- Retrofit
- South Korea Smart Home Market, by Products Type
- Australia
- Australia Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Australia Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Australia Smart Home Market, by Application
- New Construction
- Retrofit
- Australia Smart Home Market, by Products Type
- Indonesia
- Indonesia Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Indonesia Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Indonesia Smart Home Market, by Application
- New Construction
- Retrofit
- Indonesia Smart Home Market, by Products Type
- Thailand
- Thailand Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Thailand Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Thailand Smart Home Market, by Application
- New Construction
- Retrofit
- Thailand Smart Home Market, by Products Type
- Asia Pacific Smart Home Market, by Products Type
- Latin America
- Latin America Smart Home Market, by Products Type
- 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
- New Construction
- Retrofit
- Security & Access Controls
- Latin America Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Latin America Smart Home Market, by Application
- New Construction
- Retrofit
- Brazil
- Brazil Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Brazil Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Brazil Smart Home Market, by Application
- New Construction
- Retrofit
- Brazil Smart Home Market, by Products Type
- Mexico
- Mexico Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Mexico Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Mexico Smart Home Market, by Application
- New Construction
- Retrofit
- Mexico Smart Home Market, by Products Type
- Argentina
- Argentina Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Argentina Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Argentina Smart Home Market, by Application
- New Construction
- Retrofit
- Argentina Smart Home Market, by Products Type
- Latin America Smart Home Market, by Products Type
- RetrofitMEA
- MEA Smart Home Market, by Products Type
- 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
- Wireless Protocols
- MEA Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- MEA Smart Home Market, by Application
- New Construction
- Retrofit
- Saudi Arabia
- Saudi Arabia Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Saudi Arabia Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Saudi Arabia Smart Home Market, by Application
- New Construction
- Retrofit
- Saudi Arabia Smart Home Market, by Products Type
- UAE
- UAE Smart Home Market, by Products Type
- 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
- Security & Access Controls
- UAE Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- UAE Smart Home Market, by Application
- New Construction
- Retrofit
- UAE Smart Home Market, by Products Type
- Egypt
- Egypt Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Egypt Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Egypt Smart Home Market, by Application
- New Construction
- Retrofit
- Egypt Smart Home Market, by Products Type
- South Africa
- South Africa Smart Home Market, by Products Type
- 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
- Security & Access Controls
- South Africa Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- South Africa Smart Home Market, by Application
- New Construction
- Retrofit
- South Africa Smart Home Market, by Products Type
- Nigeria
- Nigeria Smart Home Market, by Products Type
- 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
- Security & Access Controls
- Nigeria Smart Home Market, by Protocols
- Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z Wave
- Others
- Wired Protocols
- Hybrid
- Wireless Protocols
- Nigeria Smart Home Market, by Application
- New Construction
- Retrofit
- Nigeria Smart Home Market, by Products Type
- MEA Smart Home Market, by Products Type
- North America
Smart Home Market Dynamics
Driver: Growing need for smart security & surveillance systems
The major concerns in every household across the globe is the fear of theft and burglary. According to the Federal Bureau of Investigation (FBI) statistics, a burglary occurs every 30 seconds across the U.S, adding up to over 3,000 burglar strikes per day. This has brought about the significant installation of Closed-Circuit Televisions (CCTVs) around the premises of the properties, including household, office areas, driveways, and others. However, the various challenges associated with CCTVs, such as the ability of these cameras to only record footage and not prevent intrusions, constant monitoring, remote monitoring necessitates high bandwidth and connectivity, and others, is resulting in the growing demand for smart surveillance systems to ensure safety by detecting, deterring, and reporting intrusions when they are about to happen. The smart surveillance system deploys sensors and computer vision to detect the actions and report real-time. It also enables the user to keep a backup of valuable footage on the cloud safely and allows connecting and controlling the entire location remotely.
Driver: Increasing demand for low carbon emission-oriented and energy-saving solutions
Increased human needs and wants to carry out day-to-day activities lead to a substantial amount of carbon emission into the atmosphere, resulting in global warming. The careless and over deployment of electricity is one of the major causes of global warming. With the introduction of smart technology and smart systems, several innovative devices have been developed to reduce energy usage and consumption in households, making them greener and more sustainable. Smart home devices, including smart thermostats, smart sprinkler systems, smart bulbs, smart meters, smart composters, and smart power strips, allow individuals to control and monitor power consumption, save energy, and help to reduce carbon emissions footprint. The ability of smart devices to be an energy-efficient solution offering sustainable solutions for the environment is driving the growth of the smart home market.
Restraint: High installation and maintenance chargers
The initial cost of installing and setting up smart home devices is high, resulting in resistance to market growth. Installing advanced features and integrated technologies, including IoT, AI, machine language, block down, and others, inside a home lead to an expensive set-up, majorly affordable by the upper-middle cast and upper-class families in a society. Also, the continuous advancements in these technologies are bringing the prices relatively high due to the advanced features they offer. Home automation can manage entertainment systems, security locks, lighting, and appliances like lights, curtains, and others. It also comprises home security systems, including alarm systems and access control systems. When these home devices are connected to the internet, they become an imperative constituent of the Internet of Things (IoT). The user can deploy Wi-Fi connectivity to control and manage the device from any corner of the world. The system connects controlled devices to a central server. Hence, the entire set-up for converting an ordinary home to a smart home and maintenance incurs a high cost due to the complex set-up and integration of technologies.
What Does This Report Include?
This section will provide insights into the contents included in this smart home market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Smart home market qualitative analysis
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Industry overview
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Industry trends
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Market drivers and restraints
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Market size
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Growth prospects
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Porter’s analysis
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PESTEL analysis
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Key market opportunities prioritized
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Competitive landscape
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Company overview
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Financial performance
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Product benchmarking
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Latest strategic developments
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Smart home market quantitative analysis
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Market size, estimates, and forecast from 2018 to 2030
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Market estimates and forecast for product segments up to 2030
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Regional market size and forecast for product segments up to 2030
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Market estimates and forecast for application segments up to 2030
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Regional market size and forecast for application segments up to 2030
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Company financial performance
Research Methodology
A three-pronged approach was followed for deducing the smart home market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for smart home market to gather the most reliable and current information possible.
- We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
- We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
- We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
- We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
- We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of smart home market data depending on the type of information we’re trying to uncover in our research.
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Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
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Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
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Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
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Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
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Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
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Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
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This step also entails the finalization of the report scope and data representation pattern.
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Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
Smart Home Market Categorization:
The smart home market was categorized into four segments, namely product (Security & Access Controls, Lighting Control, Entertainment Devices, HVAC, Smart Kitchen Appliances, Home Appliances, Smart Furniture, Home Healthcare), protocols (Wireless Protocols, Wired Protocols, Hybrid), application (New Construction, Retrofit), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
Segment Market Methodology:
The smart home market was segmented into product, protocols, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Market research approaches: Bottom-up
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Demand estimation of each product across countries/regions summed up to from the total market.
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Variable analysis for demand forecast.
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Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
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Primary interviews for data revalidation and insight collection.
Market research approaches: Top-down
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Used extensively for new product forecasting or analyzing penetration levels.
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Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
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Primary interviews and vendor-based primary research for variable impact analysis.
Market research approaches: Combined
- This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.
Regional Market Methodology:
The smart home market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-five countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; UAE; Egypt; South Africa; and Nigeria.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
Smart home market companies & financials:
The smart home market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
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LG Electronics, Inc. - LG Electronics, Inc. serves different verticals, such as consumer electronics, smart homes, HVAC, robots, and commercial displays, among others.
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Siemens AG - Siemens AG caters to seven segments, namely Digital Factory (DF); Power & Gas (PG); Wind Power & Renewables (WP); Building Technologies (BT); Mobility (MO); Energy Management (EM); and Process industries & Drives (PD).
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Amazon.com, Inc. - Amazon.com, Inc. operates in the e-commerce, delivery & logistics, devices & services, web services, and entertainment verticals.
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Google Nest (Google LLC) - Google Nest is involved majorly in internet related services and products that include advertisement, mobile phones, tablets, AI, among other verticals.
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Samsung Electronics Co., Ltd. - Samsung Electronics Co., Ltd. is involved in multiple verticals such as consumer electronics, IT & mobile communications, device solutions, and research & development.
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Schneider Electric SE - Schneider Electric SE has segregated its products under four business segments-building, infrastructure, industry, and IT .
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Legrand SA - Legrand SA specializes in electrical and digital infrastructure building and provides solutions for home automation, cable management solutions, protection, wiring devices, power, distribution, lighting management solutions, and digital infrastructure.
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Robert Bosch GmbH - Robert Bosch’s key product verticals include deadbolts, knobs, levers, handle sets, keypads, connected devices, touchscreens, Bluetooth-enabled locks, and other accessories.
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Assa Abloy AB - Assa Abloy AB is involved in hospitality, healthcare, and electronic product for consumer and commercial application verticals.
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Sony Group Corporation - Sony Group Corporation caters to different verticals, such as games & network services, entertainment technology & services, financial services, electronic products for consumers and commercials, smart home, among others.
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ABB Ltd. - ABB Ltd. operates into business segments like electrification products for consumer and commercial applications, robotics and motion, industrial automation, and power grids.
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Koninklijke Philips N.V. - Koninklijke Philips N.V. operates in multiple verticals such as healthcare, consumer electronics, smart home solutions, automotive, among others.
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Honeywell International, Inc. - Honeywell International, Inc. operates through four business segments including aerospace; performance materials and technologies; building technologies; and safety and productivity solutions.
Value chain-based sizing & forecasting
Supply Side Estimates
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Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
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Segment revenue determination via variable analysis and penetration modeling.
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Competitive benchmarking to identify market leaders and their collective revenue shares.
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Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
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Identifying parent markets and ancillary markets
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Segment penetration analysis to obtain pertinent
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revenue/volume
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Heuristic forecasting with the help of subject matter experts
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Forecasting via variable analysis
Smart Home Market Report Objectives:
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Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
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Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
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Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
Smart Home Market Report Assumptions:
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The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
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The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
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We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
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All market estimates and forecasts have been validated through primary interviews with the key industry participants.
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Inflation has not been accounted for to estimate and forecast the market.
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Numbers may not add up due to rounding off.
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Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
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Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
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Latin America includes Central American countries and the South American continent
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Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
Primary Research
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
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Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
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Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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