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PUBLISHER: Grand View Research | PRODUCT CODE: 1268724
PUBLISHER: Grand View Research | PRODUCT CODE: 1268724
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
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Smart Home Market Growth & Trends:
The global smart home market size is expected to reach USD 537.01 billion by 2030, registering a CAGR of 27.07% from 2023 to 2030, according to a new study by Grand View Research, Inc. The smart home is driven by computing devices and information technology that link smart home instruments and gadgets to provide convenience, entertainment, and enhanced comfort to residents in a sustainable way. The market growth is attributed to the rising penetration of the Internet of Things (IoT) and Internet connectivity in homes. Moreover, the trend of modern technologies, such as Artificial Intelligence (AI), being integrated with smart homes has enabled more advanced and digitally smart devices for better living.
In addition, the growing penetration of smartphones is driving the market as smart home devices can be controlled through a smartphone, thereby enabling ease of access and usage. Furthermore, the trend of automation in daily mundane tasks is expected to support market growth significantly. The rising need for home security has prompted the use of AI-powered smart home devices. Facial recognition and threat analysis are among the features included in these gadgets that are expected to drive the demand for smart home solutions. Asia Pacific is expected to emerge as the fastest-growing region over the forecast period.
This is mainly owing to the improved standards of living and increased consumer disposable income levels in the region. The rapid penetration of the internet, smartphones, and other digitally advanced equipment in the region is also expected to drive market growth. Furthermore, the increased demand for smart speakers, such as Siri and Alexa, significantly impacts the region's growth. In addition, the trend of luxurious lifestyles in developing nations in the region, due to increased disposable income and personal choice among consumers for smart devices, is propelling the market growth.
Smart Home Market Highlights:
- Based on products, the security & access controls segment recorded the highest revenue share in 2022 due to the increased demand for advanced security solutions and the necessity to restrict access to rooms or safes with valuable items and goods
- The wireless protocols segment is expected to grow at the highest CAGR over the forecast period as wireless technology is continuously undergoing extreme developments in terms of connectivity and latency
- The new construction application segment is expected to register the fastest CAGR over the forecast period as product installations are easier in new constructions with prior knowledge of wall placements and wire/power outlets
- The Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period due to the increasing internet and IoT devices penetration
Product Code: 978-1-68038-041-5
Table of Contents
Chapter 1 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 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 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
- 3.3.1 Market driver analysis
- 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
- 4.3.1 Security & Access Control
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
- 5.3.1 Wireless Protocols
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
Product Code: 978-1-68038-041-5
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 framework
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