Global Smart Home Market By Technologies (Bluetooth, Wi-Fi, Zigbee, Infrared, Enocean, DALI, Lonworks, Ethernet, CDMA Network, GSM/ HSPA Network, LTE Network, Others), By Software & Services (Proactive, Behavioural), By Product (Lighting Control, Security & Access Control, Access Control, HVAC Controls, Entertainment & Other Controls, Smart Speakers, Home Healthcare, Smart Appliances, Smart Furniture), and By Region - Global Forecast 2017 To 2027

Date : Jun 2021

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Report ID : 704

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Category : Automations

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Report Format:  PDF EXCEL PPT WORD

The global smart home market was valued at US$ 79.63 Bn in 2020 is expected to reach US$ 162.69 Bn by 2027, with a growing CAGR of 10.7% during the forecast period (2021-2027).

smart home market

The smart home is a system where devices and appliances are connected through the internet and can be operated remotely using smartphones or other devices for convenience. Rising internet penetration, an increasing number of internet users, adoption of smart devices, rising disposable income of the consumers, and preference for convenient and comfortable lifestyle by the consumers are some of the factors contributing to the smart home industry demand. Up until April 2021, more than 60% of the world population accounting for approximately 4.72 billion people. The number of internet users is growing at 7.6% annually and 92.8% of them are using mobile devices to go online once a day. With the excellent internet infrastructure almost across all the countries in the world, the smart homes market will witness a high growth rate.

The Global Smart Home Industry Segmentation:

  1. By Technologies
    1. Bluetooth
    2. Wi-Fi
    3. Zigbee 
    4. Infrared
    5. EnOcean
    6. DALI
    7. LonWorks
    8. Ethernet
    9. CDMA Network
    10. GSM/ HSPA Network
    11. LTE Network
    12. Others
  2. By Software & Services
    1. Proactive
    2. Behavioural  
  3. By Product
    1. Lighting Control
      1. Relays
      2. Occupancy Sensors
      3. Daylight Sensors
      4. Dimmers
      5. Timers
      6. Switches
      7. Accessories & other products
    2. Security & Access Control
      1. Video Surveillance
        1. Hardware
          1. Security Cameras
          2. Monitors
          3. Storage Devices
          4. Server
          5. Accessories
        2. Software
          1. Video Analytics Software
          2. Video Management System
          3. Neutral Networks and Algorithms
        3. Services
      2. Access Control
        1. Biometric
          1. Facial Recognition
          2. Iris Recognition
          3. Fingerprint Recognition
          4. Others
        2. Non-Biometric
    3. HVAC Controls
      1. Smart Thermostats
      2. Control Valve
      3. Heating and Cooling Coils
      4. Sensors
      5. Actuators
      6. Pumps and Fans
      7. Others
    4. Entertainment & Other Controls
      1. Home Theatre System Controls
      2. Audio, Volume, and Multimedia Room Controls
      3. Touchscreens and Keypads
      4. Smart Meters
      5. Smart Locks
      6. Smoke Detectors
      7. Others
    5. Smart Speakers
    6. Home Healthcare
    7. Smart Appliances
      1. Smart Vacuum Cleaners
      2. Smart Washer/ Dishwasher/ Dryer
      3. Smart Stove/ Oven
      4. Smart Refrigerator
      5. Others
    8. Smart Furniture
      1. Smart Tables
      2. Smart Sofas
      3. Smart Chairs
      4. Others
  4. By Region
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa

The unique insights provided by this report also includes the following:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Key Players Positioning Matrix
  5. Regulatory scenario
  6. Strategies Adopted-Benchmarking Heat Map
  7. Market trends
  8. Covid-19 impact analysis
  9. Product comparison
  10. Pre & Post COVID 19 impact on Smart Home Market Analysis
  11. Competitive Landscape

Based on product, the entertainment and other controls is anticipated to hold the largest market share by 2027, followed by security and access control.

The entertainment and other controls segment include smart theatre system controls, smart TVs, and audio, video, and multimedia controls among others. The consumer’s demand for personalized and tech-driven products is proliferating the demand for entertainment. People across the globe are investing more in luxury products and embracing their interest in entertainment which is supporting the segment growth in smart home industry analysis. Approximately 44% of the smart home globally includes smart entertainment systems among which smart TVs and speaker systems are the most common. The cord-cutting and escalating growth in streaming services as an alternative to traditional entertainment sources are boosting the demand for entertainment and other controls in the smart home market forecast.

Based on the software & service, behavioral segment accounted for the largest share in smart home industry analysis

The behavioral segment is dominating the smart home market owing to the availability of a wide portfolio of products at a minimum price compared to other software in the space. The industry players are making investments in research and development to provide improved solutions to their customers. Smart home vendors are developing a user-friendly interface to improve the customer experience. Moreover, with the rising smart home installation, the service segment is also witnessing a high growth rate during the forecast period.

Based on regions, the market for smart homes in North America accounted for the largest share in 2020, followed by Europe and the Asia Pacific.

The US is the largest market, which accounted for 82.4% share of the North America smart home market in 2020. The country has a presence of major industry leaders who are constantly innovating to offer excellent smart home solutions boosting the market revenue. The smart home installation in the region grew by 18.7% over last year making North America, world’s most advanced smart home market. The region is anticipated to maintain its position in the smart home market throughout the forecast period.

The region is at the forefront of adopting technology advancements and innovations which are often considered costly in the other regions. The technologies such as Artificial Intelligence (AI), Internet of Things (IoT), Virtual Reality (VR), and Augmented Reality (AR) among others are widely applied across industries in North America. The new trends in smart home industry in North America are huge spending on technology, increasing adoption of smart devices, and growing spending on smart homes.

Company Profiles and Competitive Intelligence: The major players operating in the global Smart Home market are Honeywell, Siemens, Amazon.com, Inc., Schneider Electric, Johnson Controls, ADT, ABB, and ASSA ABLOY, among others.

The report also provides an in-depth analysis of Smart Home market dynamics such as drivers, restraints opportunities, and challenges

Drivers:

  • Growing preference for comfortable lifestyle by the consumers
  • Accelerating penetration of smartphones, PCs and tablets coupled with rising internet adoption

Restraints:

  • Consumer data security concerns is hampering the smart home market forecast
  • High cost of products for the smart home is hampering the smart home industry demand

Opportunities

  • Government policies and initiatives supporting the development of green buildings

COVID-19 Impact on the Smart Home Market Analysis

The COVID-19 has affected various markets on a global level. The pandemic has positive as well as negative impacts on the smart home market. There has been an economic downturn that affected the consumer's spending capacities. Consumers are more focused on prioritizing their primary needs over-investing in the projects like smart homes, impacting the market revenue. However, some consumers improved their homes during the COVID-19 and almost half of them installed smart devices in the home balancing the loss incurred by the slow economy.

The report also provides an in-depth analysis of key trends in the Smart Home Market Forecast

Sr. No. Trends Impact
1 The smart kitchen is truly gaining attraction in the smart home industry space. Smart kitchen products such as smart ovens, smart refrigerators, smart wine coolers, etc. are widely being used by consumers driven by the changing lifestyle and food habits. Positive
2 Mood makers smart lighting that can be controlled using tablets, smartphones, or smartwatches is witnessing high demand. The smart lighting can be customized depending on a specific occasion. Positive
3 Concerns with respect to the personal data ownership and security of the consumer is a concerning factor in the smart home industry analysis Negative

The report also provides an in-depth analysis of recent news developments and investments

  1. In May 2021, Bosch launched a new Home Connect Plus app for smart applications that connect with appliances from 35 leading manufacturers and brands
  2. In September 2020, Black Box launched its Connected Building products and services to simplify the IT solutions for its clients. The Connected Building service provides assessment, project management and consulting, and on-site services for installation, configuration, staging, and logistics.

Company Profiles and Competitive Intelligence

The key players operating in the market are:

  1. Honeywell
  2. Siemens
  3. Amazon.com, Inc.
  4. Schneider Electric
  5. Johnson Controls
  6. ADT
  7. ABB
  8. ASSA ABLOY
  9. Apple Inc.
  10. Robert Bosch Smart Home GmbH

Frequently Asked Questions (FAQs)

How big the global smart home market forecast?

The global smart home market was valued at US$ 79.63 Bn in 2020 and is anticipated to reach US$ 162.69 Bn by 2027

What is the estimated market growth rate of smart home industry?

The smart home market is estimated to grow at a compound annual growth rate (CAGR) of 10.7% during 2020-2027

What is the share of North America in smart home market?

In the base year 2020, North America accounted for 32.5% share in the smart home market

Who are the key players in the smart home industry analysis?

A few key players in the smart home industry includes, but not limited to: Honeywell, Siemens, Amazon.com, Inc., Schneider Electric, Johnson Controls, ADT, ABB, and ASSA ABLOY.

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  1. INTRODUCTION
    1. Product Outline
    2. What is Smart Home
    3. Different types of Smart Home
    4. Sector Snapshot: Smart Home
    5. Smart Home  comparison with other substitutes
    6. Smart Home  and its advantages
    7. Analysis of Smart Home  Ecosystem / Value Chain
    8. Supply Chain Analysis
    9. Covid -19 Impact
    10. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    11. Technology Overview
  2. Technology and Regulatory Landscape for Smart Home 
    1. Regulations and Standards
  3. Smart Home  Market by Technologies
    1. Bluetooth
    2. Wi-Fi
    3. Zigbee 
    4. Infrared
    5. EnOcean
    6. DALI
    7. LonWorks
    8. Ethernet
    9. CDMA Network
    10. GSM/ HSPA Network
    11. LTE Network
    12. Others
  4. Smart Home  Market by Software & Services
    1. Proactive
    2. Behavioural  
  5. Smart Home  Market by Product
    1. Lighting Control
      1. Relays
      2. Occupancy Sensors
      3. Daylight Sensors
      4. Dimmers
      5. Timers
      6. Switches
      7. Accessories & other products
    2. Security & Access Control
      1. Video Surveillance
        1. Hardware
          1. Security Cameras
          2. Monitors
          3. Storage Devices
          4. Server
          5. Accessories
        2. Software
          1. Video Analytics Software
          2. Video Management System
          3. Neutral Networks and Algorithms
        3. Services
      2. Access Control
        1. Biometric
          1. Facial Recognition
          2. Iris Recognition
          3. Fingerprint Recognition
          4. Others
        2. Non-Biometric
    3. HVAC Controls
      1. Smart Thermostats
      2. Control Valve
      3. Heating and Cooling Coils
      4. Sensors
      5. Actuators
      6. Pumps and Fans
      7. Others
    4. Entertainment & Other Controls
      1. Home Theatre System Controls
      2. Audio, Volume, and Multimedia Room Controls
      3. Touchscreens and Keypads
      4. Smart Meters
      5. Smart Locks
      6. Smoke Detectors
      7. Others
    5. Smart Speakers
    6. Home Healthcare
    7. Smart Appliances
      1. Smart Vacuum Cleaners
      2. Smart Washer/ Dishwasher/ Dryer
      3. Smart Stove/ Oven
      4. Smart Refrigerator
      5. Others
    8. Smart Furniture
      1. Smart Tables
      2. Smart Sofas
      3. Smart Chairs
      4. Others
  6. Regional Analysis
    1. North America
      1. US
      2. Canada
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Italy
      5. Spain
      6. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Rest Of Asia Pacific
    4. Latin America
      1. Mexico
      2. Brazil
      3. Argentina
      4. Rest of Latin America
    5. Middle East and Africa
      1. GCC
      2. Rest of Middle East & Africa
  7. Key Strategic Insights
    1. Key Trend Analysis
    2. Opportunity Mapping
    3. Pain Point Analysis
    4. Key Strategic Insights
    5. Strategies Adopted-Benchmarking Heat Map
    6. PEST Analysis
    7. Regional Lifecycle
    8. Developed vs. Developing Economies, 2020 vs 2027
  8. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
    4. Presence of players by Geographies
  9. KEY GLOBAL PLAYERS
  1. Honeywell
  2. Siemens
  3. Amazon.com, Inc.
  4. Schneider Electric
  5. Johnson Controls
  6. ADT
  7. ABB
  8. ASSA ABLOY
  9. Apple Inc.
  10. Robert Bosch Smart Home GmbH

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