Connected Homes Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released an insightful report on the global Connected Homes Market, offering an in-depth analysis of crucial market dynamics, including key drivers, emerging trends, growth opportunities, and challenges. This report provides a comprehensive understanding of the market landscape and its structural elements.

Key Insights:

Connected Homes Market Size (2024E): USD 87.9 Bn
Projected Market Value (2031F): USD 156.9 Bn
Global Market Growth Rate (CAGR 2024 to 2031): 8.6%

Connected Homes Market - Report Scope:

The Connected Homes Market revolves around advanced systems and technologies that enable seamless interconnectivity among home devices, appliances, and infrastructure. These systems enhance convenience, security, and energy efficiency by integrating functionalities such as remote monitoring, automation, and smart data analytics. Connected homes span diverse applications, including smart lighting, security systems, HVAC controls, and entertainment solutions. The growing adoption of IoT and increasing demand for energy-efficient living solutions drive the market's growth.

Market Growth Drivers:

The global Connected Homes Market is fueled by several prominent drivers. The rapid proliferation of Internet of Things (IoT) technologies and high-speed internet connectivity underpins the rising demand for connected solutions. Consumers increasingly seek smart solutions that provide convenience, reduce energy consumption, and enhance security. The adoption of voice-enabled assistants, such as Amazon Alexa and Google Assistant, has further popularized smart home devices.

In addition, the rising focus on sustainability has driven the adoption of energy-efficient systems, such as smart thermostats and lighting solutions, that optimize energy consumption. Home automation platforms now integrate renewable energy solutions, including solar panels and battery storage, which align with consumer preferences for eco-friendly living. Enhanced cybersecurity measures and improved interoperability standards also contribute to consumer confidence and market growth.

Market Restraints:

Despite significant advancements, the Connected Homes Market faces several challenges. High initial costs of smart devices and installation services remain a barrier for price-sensitive consumers. Moreover, privacy concerns associated with data collection and the risk of cybersecurity breaches deter potential buyers. The lack of universal standards for device interoperability complicates system integration and limits consumer choice. Additionally, uneven internet infrastructure, particularly in rural and underdeveloped areas, restricts market penetration.

Market Opportunities:

The Connected Homes Market offers vast opportunities driven by technological innovation and expanding internet coverage. Emerging economies in Asia-Pacific, Africa, and Latin America present lucrative growth prospects due to urbanization and rising disposable incomes. The integration of artificial intelligence (AI) and machine learning (ML) into connected home systems enables predictive analytics, transforming user experience and efficiency.

The demand for personalized solutions opens avenues for innovation, particularly in health-focused applications, such as remote patient monitoring and wellness tracking. Furthermore, advancements in 5G technology are expected to enhance the speed and reliability of connected devices, fostering broader adoption.

Key Questions Answered in the Report:

What are the major factors driving global demand for connected home solutions?
Which regions are anticipated to dominate the adoption of smart home technologies?
How do technological advancements shape the competitive landscape of the Connected Homes Market?
Who are the key players in this market, and what strategies do they employ to maintain their market position?
What are the emerging trends and future outlook for the global Connected Homes Market?

Competitive Intelligence and Business Strategy:

Leading companies in the global Connected Homes Market, including Google LLC, Amazon.com Inc., Apple Inc., and Samsung Electronics Co., Ltd., are focusing on innovation and strategic collaborations. These companies are investing in R&D to enhance product functionality, improve interoperability, and reduce costs. Partnerships with builders, energy providers, and telecommunications companies facilitate market expansion. The integration of AI and voice technologies has been a primary focus, enhancing user experience and system intelligence.

Additionally, players emphasize customer education and support services to ensure a seamless adoption experience. Advanced security features are incorporated to address growing concerns over privacy and cyber threats.

Key Companies Profiled:

Ericsson AB
Schneider Electric Se
Siemens AG
ABB Ltd.
Honeywell International, Inc.
General Electric Company
United Technologies Corporation
Johnson Controls, Inc.
Legrand S.A.
Samsung Electronics Co., Ltd.
Others

Connected Homes Industry Segmentation:

Functionality

Energy and Utilities Management
Smart Entertainment
Wellness and Monitoring
Security and Safety
Smart Appliance

Component

Lighting Control Solution
Security Solution
Entertainment Solution
Home Healthcare Solution
Energy Management Solution
Kitchen Solution
HVAC Solution
Professional Services
Managed Services

Platform

Smartphones
Laptops
Home Gateway
Other platforms

Type of Homes

Apartment
Villa/Bungalow
Other Homes

Region

North America
Latin America
Europe
Japan
APEJ
MEA

Product Code: PMRREP20776

1. Global Outlook

2. Global Connected Homes Market - Executive Summary

3. Global Connected Homes Market Overview

3.1. Introduction
- 3.1.1. Global Connected Homes Market Taxonomy
- 3.1.2. Global Connected Homes Market Definition
3.2. Global Connected Homes Market Size (US$ Bn) and Forecast, 2024-2031
- 3.2.1. Global Connected Homes Market Y-o-Y Growth
3.3. Global Connected Homes Market Dynamics
3.4. Value Chain
3.5. Competition Analysis
3.6. Connected Homes Users
3.7. Competitive Landscape
3.8. Top 3 Buying Factors & Features
3.9. Key Participants Market Presence (Intensity Map) By Region
3.10. Type of Buyers
3.11. Users Purchase Channel
3.12. Average Payments by Home User

4. Global Connected Homes Market Analysis and Forecast 2024-2031

4.1. Global Connected Homes Market Size and Forecast By Functionality, 2024-2031
- 4.1.1. Energy and Utilities Management Market Size and Forecast, 2024-2031
  - 4.1.1.1. Revenue (US$ Bn) Comparison, By Region
  - 4.1.1.2. Market Share Comparison, By Region
  - 4.1.1.3. Y-o-Y growth Comparison, By Region
- 4.1.2. Smart Entertainment Market Size and Forecast, 2024-2031
  - 4.1.2.1. Revenue (US$ Bn) Comparison, By Region
  - 4.1.2.2. Market Share Comparison, By Region
  - 4.1.2.3. Y-o-Y growth Comparison, By Region
- 4.1.3. Wellness and Monitoring Market Size and Forecast, 2024-2031
  - 4.1.3.1. Revenue (US$ Bn) Comparison, By Region
  - 4.1.3.2. Market Share Comparison, By Region
  - 4.1.3.3. Y-o-Y growth Comparison, By Region
- 4.1.4. Security and Safety Market Size and Forecast, 2024-2031
  - 4.1.4.1. Revenue (US$ Bn) Comparison, By Region
  - 4.1.4.2. Market Share Comparison, By Region
  - 4.1.4.3. Y-o-Y growth Comparison, By Region
- 4.1.5. Smart Appliance Market Size and Forecast, 2024-2031
  - 4.1.5.1. Revenue (US$ Bn) Comparison, By Region
  - 4.1.5.2. Market Share Comparison, By Region
  - 4.1.5.3. Y-o-Y growth Comparison, By Region
4.2. Global Connected Homes Market Size and Forecast By Component, 2024-2031
- 4.2.1. Lighting Control Solution Market Size and Forecast, 2024-2031
  - 4.2.1.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.1.2. Market Share Comparison, By Region
  - 4.2.1.3. Y-o-Y growth Comparison, By Region
- 4.2.2. Security Solution Market Size and Forecast, 2024-2031
  - 4.2.2.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.2.2. Market Share Comparison, By Region
  - 4.2.2.3. Y-o-Y growth Comparison, By Region
- 4.2.3. Entertainment Solution Market Size and Forecast, 2024-2031
  - 4.2.3.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.3.2. Market Share Comparison, By Region
  - 4.2.3.3. Y-o-Y growth Comparison, By Region
- 4.2.4. Home Healthcare Solution Market Size and Forecast, 2024-2031
  - 4.2.4.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.4.2. Market Share Comparison, By Region
  - 4.2.4.3. Y-o-Y growth Comparison, By Region
- 4.2.5. Energy Management Solution Market Size and Forecast, 2024-2031
  - 4.2.5.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.5.2. Market Share Comparison, By Region
  - 4.2.5.3. Y-o-Y growth Comparison, By Region
- 4.2.6. Kitchen Solution Market Size and Forecast, 2024-2031
  - 4.2.6.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.6.2. Market Share Comparison, By Region
  - 4.2.6.3. Y-o-Y growth Comparison, By Region
- 4.2.7. HVAC Solution Market Size and Forecast, 2024-2031
  - 4.2.7.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.7.2. Market Share Comparison, By Region
  - 4.2.7.3. Y-o-Y growth Comparison, By Region
- 4.2.8. Professional Services Market Size and Forecast, 2024-2031
  - 4.2.8.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.8.2. Market Share Comparison, By Region
  - 4.2.8.3. Y-o-Y growth Comparison, By Region
- 4.2.9. Managed Services Market Size and Forecast, 2024-2031
  - 4.2.9.1. Revenue (US$ Bn) Comparison, By Region
  - 4.2.9.2. Market Share Comparison, By Region
  - 4.2.9.3. Y-o-Y growth Comparison, By Region
4.3. Global Connected Homes Market Size and Forecast By Platform, 2024-2031
- 4.3.1. Smartphones Market Size and Forecast, 2024-2031
  - 4.3.1.1. Revenue (US$ Bn) Comparison, By Region
  - 4.3.1.2. Market Share Comparison, By Region
  - 4.3.1.3. Y-o-Y growth Comparison, By Region
- 4.3.2. Laptops Market Size and Forecast, 2024-2031
  - 4.3.2.1. Revenue (US$ Bn) Comparison, By Region
  - 4.3.2.2. Market Share Comparison, By Region
  - 4.3.2.3. Y-o-Y growth Comparison, By Region
- 4.3.3. Home Gateway Market Size and Forecast, 2024-2031
  - 4.3.3.1. Revenue (US$ Bn) Comparison, By Region
  - 4.3.3.2. Market Share Comparison, By Region
  - 4.3.3.3. Y-o-Y growth Comparison, By Region
- 4.3.4. Other platforms Market Size and Forecast, 2024-2031
  - 4.3.4.1. Revenue (US$ Bn) Comparison, By Region
  - 4.3.4.2. Market Share Comparison, By Region
  - 4.3.4.3. Y-o-Y growth Comparison, By Region
4.4. Global Connected Homes Market Size and Forecast By Type of Homes, 2024-2031
- 4.4.1. Apartment Market Size and Forecast, 2024-2031
  - 4.4.1.1. Revenue (US$ Bn) Comparison, By Region
  - 4.4.1.2. Market Share Comparison, By Region
  - 4.4.1.3. Y-o-Y growth Comparison, By Region
- 4.4.2. Villa/Bungalow Market Size and Forecast, 2024-2031
  - 4.4.2.1. Revenue (US$ Bn) Comparison, By Region
  - 4.4.2.2. Market Share Comparison, By Region
  - 4.4.2.3. Y-o-Y growth Comparison, By Region
- 4.4.3. Market Size and Forecast, 2024-2031
  - 4.4.3.1. Revenue (US$ Bn) Comparison, By Region
  - 4.4.3.2. Market Share Comparison, By Region
  - 4.4.3.3. Y-o-Y growth Comparison, By Region

5. North America Connected Homes Market Size and Forecast, 2024-2031

5.1. North America Outlook
5.2. North America Parent Market Outlook
5.3. North America Target Market Outlook
5.4. Revenue (US$ Bn) Comparison, By Country
- 5.4.1. US Market Size and Forecast (US$ Bn), 2024-2031
- 5.4.2. Canada Market Size and Forecast (US$ Bn), 2024-2031
5.5. Revenue (US$ Bn) Comparison, By Functionality
5.6. Revenue (US$ Bn) Comparison, By Component
5.7. Revenue (US$ Bn) Comparison, By Platform
5.8. Revenue (US$ Bn) Comparison, By Type of Homes

6. Latin America Connected Homes Market Size and Forecast, 2024-2031

6.1. Latin America Outlook
6.2. Latin America Parent Market Outlook
6.3. Latin America Target Market Outlook
6.4. Revenue (US$ Bn) Comparison, By Country
- 6.4.1. Brazil Market Size and Forecast (US$ Bn), 2024-2031
- 6.4.2. Mexico Market Size and Forecast (US$ Bn), 2024-2031
- 6.4.3. Argentina Market Size and Forecast (US$ Bn), 2024-2031
- 6.4.4. Rest of Latin America Market Size and Forecast (US$ Bn), 2024-2031
6.5. Revenue (US$ Bn) Comparison, By Functionality
6.6. Revenue (US$ Bn) Comparison, By Component
6.7. Revenue (US$ Bn) Comparison, By Platform
6.8. Revenue (US$ Bn) Comparison, By Type of Homes

7. Europe Connected Homes Market Size and Forecast, 2024-2031

7.1. Europe Outlook
7.2. Europe Parent Market Outlook
7.3. Europe Target Market Outlook
7.4. Revenue (US$ Bn) Comparison, By Country
- 7.4.1. Germany Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.2. UK Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.3. France Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.4. Spain Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.5. Italy Market Size and Forecast (US$ Bn), 2024-2031
- 7.4.6. Russia Market Size and Forecast (US$ Bn), 2024-2031
7.5. Revenue (US$ Bn) Comparison, By Functionality
7.6. Revenue (US$ Bn) Comparison, By Component
7.7. Revenue (US$ Bn) Comparison, By Platform
7.8. Revenue (US$ Bn) Comparison, By Type of Homes

8. Japan Connected Homes Market Size and Forecast, 2024-2031

8.1. Japan Outlook
8.2. Japan Parent Market Outlook
8.3. Japan Target Market Outlook
8.4. Revenue (US$ Bn) Comparison, By Country
- 8.4.1. Japan Market Size and Forecast (US$ Bn), 2024-2031
8.5. Revenue (US$ Bn) Comparison, By Functionality
8.6. Revenue (US$ Bn) Comparison, By Component
8.7. Revenue (US$ Bn) Comparison, By Platform
8.8. Revenue (US$ Bn) Comparison, By Type of Homes

9. APEJ Connected Homes Market Size and Forecast, 2024-2031

9.1. APEJ Outlook
9.2. APEJ Parent Market Outlook
9.3. APEJ Target Market Outlook
9.4. Revenue (US$ Bn) Comparison, By Country
- 9.4.1. China Market Size and Forecast (US$ Bn), 2024-2031
- 9.4.2. India Market Size and Forecast (US$ Bn), 2024-2031
- 9.4.3. ASEAN Market Size and Forecast (US$ Bn), 2024-2031
- 9.4.4. Australia & New Zealand Market Size and Forecast (US$ Bn), 2024-2031
- 9.4.5. Rest of APEJ Market Size and Forecast (US$ Bn), 2024-2031
9.5. Revenue (US$ Bn) Comparison, By Functionality
9.6. Revenue (US$ Bn) Comparison, By Component
9.7. Revenue (US$ Bn) Comparison, By Platform
9.8. Revenue (US$ Bn) Comparison, By Type of Homes

10. MEA Connected Homes Market Size and Forecast, 2024-2031

10.1. MEA Outlook
10.2. MEA Parent Market Outlook
10.3. MEA Target Market Outlook
10.4. Revenue (US$ Bn) Comparison, By Country
- 10.4.1. GCC Countries Market Size and Forecast (US$ Bn), 2024-2031
- 10.4.2. North Africa Market Size and Forecast (US$ Bn), 2024-2031
- 10.4.3. South Africa Market Size and Forecast (US$ Bn), 2024-2031
- 10.4.4. Rest of MEA Market Size and Forecast (US$ Bn), 2024-2031
10.5. Revenue (US$ Bn) Comparison, By Functionality
10.6. Revenue (US$ Bn) Comparison, By Component
10.7. Revenue (US$ Bn) Comparison, By Platform
10.8. Revenue (US$ Bn) Comparison, By Type of Homes

11. Global Connected Homes Market Company Share, Competition Landscape and Company Profiles

11.1. Company Share Analysis
11.2. Competition Landscape
11.3. Company Profiles
- 11.3.1. Ericsson AB
- 11.3.2. Schneider Electric Se
- 11.3.3. Siemens AG
- 11.3.4. ABB Ltd.
- 11.3.5. Honeywell International, Inc.
- 11.3.6. General Electric Company
- 11.3.7. United Technologies Corporation
- 11.3.8. Johnson Controls, Inc.
- 11.3.9. Legrand S.A.
- 11.3.10. Samsung Electronics Co., Ltd.