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Smart Homes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global smart homes market size reached US$ 81.19 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 296.71 Billion by 2027, exhibiting a growth rate (CAGR) of 22.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Smart homes refer to household setups equipped with internet-enabled appliances that can be remotely controlled using a networked device. They include the computerization of lighting, smart appliances, home entertainment, heating, ventilation, and air conditioning (HVAC), and security systems. Smart homes enable homeowners to control, monitor, and automate various functions, appliances, and systems with smartphones or tablets through an internet connection. They assist in improving appliance functionality, increasing energy efficiency, centralizing operational control, and managing home security. Smart homes also provide real-time surveillance and motion detection and provide alerts during leakage and flooding.

Smart Homes Market Trends:

The increasing emphasis on energy conservation and reduced carbon emissions across the globe is creating a positive outlook for the market.  Smart homes increase energy efficiency by effectively managing utilities and taking control of energy usage by automatically shutting-off electronic devices, such as television and gaming systems, when not in use. Furthermore, the rising adoption of home safety and monitoring systems, such as security cameras, video door alarms, facial-recognition devices, ultra-modern burglar alarms, and remote-controlled locks, is providing a considerable boost to the market growth. Additionally, the integration of power line communication technology capable of transferring data through electrical power lines, thus, reducing retrofitting costs and installation time, is creating a positive outlook for the market. Moreover, the rising adoption of the Internet of Things (IoT) in smart homes to provide comfort and reliability to users, enhance flexibility and security, and improve efficiency while saving energy is positively influencing the market growth. Furthermore, the improving living standards and the easy availability of affordable home automation solutions are propelling the market growth. Other factors, including rising initiatives by several governments to promote smart home devices to save energy, increasing expenditure capacities of consumers, and widespread adoption of wireless communication technologies, including WiFi, Bluetooth, near field communication (NFC), and fifth-generation (5G) network, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smart homes market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component and application.

Breakup by Component:

  • Hardware
    • Security
    • Home Automation
    • Home Entertainment
    • Home Healthcare
  • Smart Appliances
  • AI Speaker
  • Services
    • Energy Consumption and Management Services
    • Security Services
    • Healthcare Services
    • Entertainment Services
       

Breakup by Application:

  • Security and Surveillance
  • Lighting
  • Entertainment
  • Energy Management
  • HVAC
  • Smart Kitchen
  • Home Fitness and Wellness
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Amazon.com Inc., Emerson Electric Co., Honeywell International Inc., LG Electronics Inc., Lutron Electronics Co. Inc., Microsoft Corporation, Robert Bosch GmbH and Schneider Electric SE.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd, Amazon.com Inc., Emerson Electric Co., Honeywell International Inc., LG Electronics Inc., Lutron Electronics Co. Inc., Microsoft Corporation, Robert Bosch GmbH and Schneider Electric SE.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global smart homes market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global smart homes market?
  • What are the key regional markets?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global smart homes market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Smart Homes Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Component
    6.1    Hardware
        6.1.1 Market Trends
        6.1.2 Key Segments
           6.1.2.1 Security
           6.1.2.2 Home Automation
           6.1.2.3 Home Entertainment
           6.1.2.4 Home Healthcare
        6.1.3 Market Forecast
    6.2    Smart Appliances
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    AI Speaker
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Services
        6.4.1 Market Trends
        6.4.2 Key Segments
           6.4.2.1 Energy Consumption and Management Services
           6.4.2.2 Security Services
           6.4.2.3 Healthcare Services
           6.4.2.4 Entertainment Services
        6.4.3 Market Forecast
7    Market Breakup by Application
    7.1    Security and Surveillance
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Lighting
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Entertainment
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Energy Management
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    HVAC
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Smart Kitchen
        7.6.1 Market Trends
        7.6.2 Market Forecast
    7.7    Home Fitness and Wellness
        7.7.1 Market Trends
        7.7.2 Market Forecast
8    Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia-Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9    SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Value Chain Analysis
11    Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    ABB Ltd
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio
           13.3.1.3 Financials
           13.3.1.4 SWOT Analysis
        13.3.2    Amazon.com Inc.
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
           13.3.2.3 Financials
           13.3.2.4 SWOT Analysis
        13.3.3    Emerson Electric Co.
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio
           13.3.3.3 Financials
           13.3.3.4 SWOT Analysis
        13.3.4    Honeywell International Inc.
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio
           13.3.4.3 Financials
           13.3.4.4 SWOT Analysis
        13.3.5    LG Electronics Inc.
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio
           13.3.5.3 Financials
           13.3.5.4 SWOT Analysis
        13.3.6    Lutron Electronics Co. Inc.
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio
           13.3.6.3 SWOT Analysis
        13.3.7    Microsoft Corporation
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio
           13.3.7.3 Financials
           13.3.7.4 SWOT Analysis
        13.3.8    Robert Bosch GmbH
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio
           13.3.8.3 Financials
           13.3.8.4 SWOT Analysis
        13.3.9    Schneider Electric SE
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio
           13.3.9.3 Financials
           13.3.9.4 SWOT Analysis

List of Figures

Figure 1: Global: Smart Homes Market: Major Drivers and Challenges
Figure 2: Global: Smart Homes Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Smart Homes Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Smart Homes Market: Breakup by Component (in %), 2021
Figure 5: Global: Smart Homes Market: Breakup by Application (in %), 2021
Figure 6: Global: Smart Homes Market: Breakup by Region (in %), 2021
Figure 7: Global: Smart Homes (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Smart Homes (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Smart Homes (Smart Appliances) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Smart Homes (Smart Appliances) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Smart Homes (AI Speaker) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Smart Homes (AI Speaker) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Smart Homes (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Smart Homes (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Smart Homes (Security and Surveillance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Smart Homes (Security and Surveillance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Smart Homes (Lighting) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Smart Homes (Lighting) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Smart Homes (Entertainment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Smart Homes (Entertainment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Smart Homes (Energy Management) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Smart Homes (Energy Management) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Smart Homes (HVAC) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Smart Homes (HVAC) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Smart Homes (Smart Kitchen) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Smart Homes (Smart Kitchen) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Smart Homes (Home Fitness and Wellness) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Smart Homes (Home Fitness and Wellness) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: North America: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: North America: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: United States: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: United States: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Canada: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Canada: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Asia-Pacific: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Asia-Pacific: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: China: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: China: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Japan: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Japan: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: India: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: India: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: South Korea: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: South Korea: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Australia: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Australia: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Indonesia: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Indonesia: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Others: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Others: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Europe: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Europe: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Germany: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Germany: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: France: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: France: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: United Kingdom: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: United Kingdom: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Italy: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Italy: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Spain: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Spain: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Russia: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Russia: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Others: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Others: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Latin America: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Latin America: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Brazil: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Brazil: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Mexico: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Mexico: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Others: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Others: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Middle East and Africa: Smart Homes Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Middle East and Africa: Smart Homes Market: Breakup by Country (in %), 2021
Figure 77: Middle East and Africa: Smart Homes Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Global: Smart Homes Industry: SWOT Analysis
Figure 79: Global: Smart Homes Industry: Value Chain Analysis
Figure 80: Global: Smart Homes Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Smart Homes Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Smart Homes Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Smart Homes Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Smart Homes Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Smart Homes Market: Competitive Structure
Table 6: Global: Smart Homes Market: Key Players


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