Smart Home Market - By Type, By Connectivity, By Price, By Application, By Distribution Channel Forecast 2024

Description

The Smart Home Market size will grow at 10.3% CAGR during 2024-2032, driven by the increasing adoption of energy-efficient solutions. According to IEA, investment in energy efficiency surged by 16% to reach USD 600 billion in 2022. As environmental concerns and energy costs rise, consumers are seeking smart home technologies that reduce energy consumption and enhance efficiency. Innovations such as smart thermostats, LED lighting, and automated energy management systems are gaining traction for their ability to optimize energy use and lower utility bills. The shift towards green technology and energy conservation is boosting the demand for smart home products.

The rapid urbanization and the growing emphasis on home security are pushing for sophisticated surveillance systems that offer real-time monitoring and remote access capabilities. Additionally, the integration of artificial intelligence and machine learning into security systems is further propelling market expansion, enabling features like facial recognition, motion detection, and automated alerts.

The smart home industry is classified based on type, connectivity, price, application, distribution channel, and region.

The HVAC systems segment will witness significant growth through 2032, as they play a crucial role in maintaining optimal indoor conditions. The incorporation of smart technology into HVAC systems allows for precise temperature control, remote management, and energy optimization. Advanced features such as real-time monitoring, automated scheduling, and integration with other smart devices contribute to increased energy efficiency and reduced operational costs. The growing demand for energy-efficient HVAC solutions is driving the market growth.

The hybrid connectivity segment will account for a notable market share by 2032. Hybrid connectivity solutions combine various communication technologies, such as Wi-Fi, Bluetooth, and Zigbee, to create a seamless and reliable network for smart home devices. This approach ensures compatibility and interoperability among different devices, allowing for a more cohesive and integrated smart home ecosystem. With the increasing complexity of smart home networks, hybrid connectivity solutions offer enhanced flexibility, improved range, and greater device compatibility.

Europe smart home industry will record a strong CAGR through 2032, driven by a combination of technological advancements, government initiatives, and changing consumer preferences. The European consumers are increasingly seeking advanced smart home solutions for convenience and improved energy efficiency. The EU's commitment to sustainability is further propelling market growth, as governments implement policies and incentives to promote the adoption of smart home technologies. Additionally, the presence of key players and a robust infrastructure for smart home solutions contribute to the market growth.

Product Code: 10013

Chapter 1 Methodology & Scope

1.1 Market scope & definitions
1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
1.3 Base estimates & calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry360°synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis.
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.1.7 Retailers
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Rising demand for security and efficiency
  - 3.2.1.2 Advancement in technology
- 3.2.2 Industry pitfalls & challenges
  - 3.2.2.1 Competition from traditional products
  - 3.2.2.2 Data privacy and security
3.3 Growth potential analysis
3.4 Technology Overview
3.5 Consumer Buying Behavior
3.6 Porter's analysis
3.7 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Smart Home Market Estimates & Forecast, By Type (USD Billion) (Thousand Units)

5.1 Key trends
5.2 Security & Access Controls
- 5.2.1 Security Cameras
- 5.2.2 Video Door Phones
- 5.2.3 Smart Locks
- 5.2.4 Remote Monitoring Software & Services
- 5.2.5 Others
5.3 Lighting Control
- 5.3.1 Smart Lights
- 5.3.2 Relays & Switches
- 5.3.3 Occupancy Sensors
- 5.3.4 Dimmers
- 5.3.5 Other Products
5.4 Entertainment Devices
- 5.4.1 Smart Displays/TV
- 5.4.2 Streaming Devices
- 5.4.3 Sound Bars & Speakers
5.5 HVAC
- 5.5.1 Smart Thermostats
- 5.5.2 Sensors
- 5.5.3 Smart Vents
- 5.5.4 Others
5.6 Smart Kitchen Appliances
- 5.6.1 Refrigerators
- 5.6.2 Dish Washers
- 5.6.3 Cooktops
- 5.6.4 Microwave/Ovens
- 5.6.5 Others
5.7 Home Appliances
- 5.7.1 Smart Washing Machines
- 5.7.2 Smart Water Heaters
- 5.7.3 Smart Vacuum Cleaners
- 5.7.4 Others
5.8 Smart Furniture
- 5.8.1 Table
- 5.8.2 Chair
- 5.8.3 Others
5.9 Home Healthcare
5.10 Others Device

Chapter 6 Smart Home Market Estimates & Forecast, By Connectivity (USD Billion) (Thousand Units)

6.1 Key trends
- 6.1.1 Wireless Protocols
- 6.1.2 ZigBee
- 6.1.3 Wi-Fi
- 6.1.4 Bluetooth
- 6.1.5 Z Wave
- 6.1.6 Others
6.2 Wired Protocols
6.3 Hybrid

Chapter 7 Smart Home Market Estimates & Forecast, By Price (USD Billion) (Thousand Units)

7.1 Key trends
7.2 Low
7.3 Medium
7.4 High

Chapter 8 Smart Home Market Estimates & Forecast, By Application (USD Billion) (Thousand Units)

8.1 Key trends
8.2 New Construction
8.3 Retrofit

Chapter 9 Smart Home Market Estimates & Forecast, By Distribution Channel (USD Billion) (Thousand Units)

9.1 Key trends
9.2 Online
9.3 Offline

Chapter 10 Smart Home Market Estimates & Forecast, By Region (USD Billion) (Thousand Units)

10.1 Key trends, by region
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 Australia
- 10.4.6 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Argentina
- 10.5.4 Rest of Latin America
10.6 MEA
- 10.6.1 Saudi Arabia
- 10.6.2 UAE
- 10.6.3 South Africa
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 ABB
11.2 Apple Inc.
11.3 Crestron Electronics, Inc.
11.4 Emerson Electric Co.
11.5 Gira
11.6 Google LLC
11.7 Haier Group
11.8 Honeywell International Inc.
11.9 Johnson Control
11.10 Nice Polska Sp. z o.o.
11.11 Panasonic Corporation
11.12 Robert Bosch Smart Home GmbH
11.13 Samsung
11.14 Schneider Electric
11.15 Xiaomi

Smart Home Market - By Type, By Connectivity, By Price, By Application, By Distribution Channel Forecast 2024 - 2032