Smart Home Market with Analysis by Product (Lighting Control, Security & Access Control, HVAC Control, Smart Speaker, Smart Kitchen, Smart Furniture), Software & Services, Sales Channel, and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
The smart home market size is expected to reach USD 84.5 billion in 2021, at a CAGR of 11.4% during the forecast period 2021-2028.
Smart home devices are suitable for a home setup where devices can be automatically controlled distantly from any Internet-connected place in the world, using a mobile or other networked device. A smart home has its devices connected through the Internet, and the customer can regulate functions, such as security access to the house, temperature, lighting, and home theatre.
The increasing number of internet users and growing adoption of smart devices along with growing need for energy-saving and low carbon emission-oriented solutions are some of the factors that have supported long-term expansion for Smart Home Market.
The emergence of the global COVID-19 pandemic has affected the smart home market. The COVID-19 pandemic impact on the smart home market has been both positive as well as negative. The demand for smart home products such as smart speaker and home healthcare has increased due to the COVID-19 pandemic, as the majority of the population is working from home.
The market in APAC is expected to grow at the highest CAGR during the forecast period. The APAC is home to major smart home manufacturers, namely Samsung Electronics (South Korea), Panasonic (Japan), Haier Smart Home (China), LG Electronics (South Korea), and Sony (Japan) which always focus on technological innovations.
Insights are provided for each region and major countries within the regions
Report Feature |
Descriptions |
---|---|
Market Revenue In 2021 |
USD 84.5 billion |
Growth Rate |
CAGR of 11.4% during the forecasting period, 2021-2028 |
Historical Data |
2018-2019 |
Forecast Years |
2021-2028 |
Base Year |
2020 |
Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
Report Segmentation |
product, software & services, sales channel and region. |
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
Companies Profiled |
Honeywell, Siemens, Johnson Controls, Schneider Electric, ASSA ABLOY, Amazon and Apple, Samsung Electronics, Sony, Ooma, Delta Controls, Control4, Axis Communications, Comcast, Smarthome, Crestron Electronics, and Simplisafe |
Available Customization |
In addition to the market data for Smart Home Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Smart Home Market is segmented into product, software & services, sales channel and region.