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Market Research Report
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1097058

Smart Home Market Size, Share & Trends Analysis Report By Application (Security & Surveillance, Lighting, Entertainment, Energy Management, HVAC, Smart Kitchen, Home Fitness & Wellness), By Region And Segment Forecasts, 2022 - 2030

Published: | Grand View Research, Inc. | 300 Pages | Delivery time: 2-10 business days

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Smart Home Market Size, Share & Trends Analysis Report By Application (Security & Surveillance, Lighting, Entertainment, Energy Management, HVAC, Smart Kitchen, Home Fitness & Wellness), By Region And Segment Forecasts, 2022 - 2030
Published: June 9, 2022
Grand View Research, Inc.
Content info: 300 Pages
Delivery time: 2-10 business days
  • Description
  • Table of Contents
  • List of Tables

Smart Home Market Growth & Trends:

The global smart home market size is projected to reach USD 537.01 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 27.0% from 2022 to 2030. The rising focus on energy conservation and reduced carbon emissions are anticipated to drive market growth during the forecast period. The improved regulatory initiatives by governments for deploying smart home devices to save energy are encouraging people to adopt these products, thereby significantly impacting the market growth.

For instance, in June 2020, the government of the U.K. released new plans to deploy smart meters in homes across the region, guaranteeing that consumers may continue to save money on their energy bills and carbon emissions once the coronavirus pandemic-induced lockdown is removed. The growing elderly population is expected to significantly impact the market growth for smart homes due to an increasing demand for smart devices to monitor and control their health and set reminders for their medicines and appointments with physicians.

Increasing awareness regarding smart grids, higher personal income in developing economies, power line communication assistance, and the rise of the consumer electronics industry are factors likely to impact market growth positively. In developed and developing countries, smart home devices pose significant potential in the overall smart home industry.

Increased adoption of IoT has led to a faster deployment of smart devices, such as control lights, thermostats, heating equipment, door locks, and others, to streamline the control and management of basic household chores. Furthermore, the growing need for a luxurious lifestyle in developing nations owing to increased disposable income and preference among consumers for energy-efficient devices is propelling the market growth.

Smart Home Market Report Highlights:

  • The security and surveillance application segment dominated the global market and accounted for the highest revenue share of around 31.0%. This is owing to the rising demand for smart home devices such as burglar alarms, window sensor alarms, and security cameras, which inform users of a potential threat or security breach
  • The energy management segment is anticipated to witness substantial growth due to increasing awareness regarding energy-efficient devices, coupled with the support of regulatory bodies for developing a smart grid and installing smart electricity, water, and gas meters
  • During the pandemic, many customers adopted smart home gadgets, out of health safety concerns and to curb the spread of the virus. Consumers used smart devices such as robotic cleaners to keep the home tidy, video doorbells for reducing hand contact, and innovative security cameras for safety purposes
  • Increased penetration of smart digital assistants, such as Alexa and Google Assistant, among households for easy communication and entertainment has led to significant market growth
Product Code: 978-1-68038-041-5

Table of Contents

Chapter 1. Methodology and Scope

  • 1.1. Information Procurement
    • 1.1.1. Purchased Database
    • 1.1.2. GVR's Internal Database
    • 1.1.3. Secondary Sources & Third-Party Perspectives
    • 1.1.4. Primary Research
  • 1.2. Information Analysis
    • 1.2.1. Data Analysis Models
  • 1.3. Market Formulation & Data Visualization
  • 1.4. Data Validation & Publishing

Chapter 2. Executive Summary

  • 2.1. Market Outlook
  • 2.2. Segmental Outlook

Chapter 3. Smart Home Market Variables, Trends & Scope

  • 3.1. Market Segmentation and Growth
  • 3.2. Market Definition
  • 3.3. Market Size and Growth Prospect
  • 3.4. Industry Value Chain Analysis
  • 3.5. Market Dynamics
    • 3.5.1. Market Driver Analysis
      • 3.5.1.1. Growing Need For Smart Security & Surveillance Systems
      • 3.5.1.2. Increasing Demand For Low Carbon Emission-Oriented and Energy-Saving Solutions
      • 3.5.1.3. Increasing Disposable Income and Inclination For Smart and Luxurious Lifestyle In Developing Countries
    • 3.5.2. Market Restraint/Challenges Analysis
      • 3.5.2.1. High Installation and Maintenance Charges
      • 3.5.2.2. Compatibility Issues Of Smart Devices From Various Manufacturers Or Vendors
  • 3.6. Penetration & Growth Prospect Mapping
  • 3.7 Key Company Analysis
  • 3.8 Porter's Five Forces Analysis
  • 3.9. PEST Analysis

Chapter 4. Smart Home Market: Application Estimates & Trend Analysis

  • 4.1. Market Size Estimates & Forecasts and Trend Analysis 2018-2030 (USD Billion)
  • 4.2. Application Movement Analysis & Market Share 2021 & 2030
    • 4.2.1. Security & Surveillance
      • 4.2.1.1. Market Estimates & Forecasts by Region 2022 - 2030 (USD Billion)
    • 4.2.2. Lighting
      • 4.2.2.1. Market Estimates & Forecasts by Region 2022 - 2030 (USD Billion)
    • 4.2.3. Entertainment
      • 4.2.3.1. Market Estimates & Forecasts by Region 2022 - 2030 (USD Billion)
    • 4.2.4. Energy Management
      • 4.2.4.1. Market Estimates & Forecasts by Region 2022 - 2030 (USD Billion)
    • 4.2.5. HVAC
      • 4.2.5.1. Market Estimates & Forecasts by Region 2022 - 2030 (USD Billion)
    • 4.2.6. Smart Kitchen
      • 4.2.6.1. Market Estimates & Forecasts by Region 2022 - 2030 (USD Billion)
    • 4.2.7. Home Fitness & Wellness
      • 4.2.7.1. Market Estimates & Forecasts by Region 2022 - 2030 (USD Billion)

Chapter 5. Smart Home Market: Regional Estimates & Trend Analysis

  • 5.1. Smart Home Market by Region, 2021 & 2030
  • 5.2. Regional Movement Analysis & Market Share, 2021 & 2030
    • 5.2.1. North America
      • 5.2.1.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
      • 5.2.1.2. U.S.
      • 5.2.1.2.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
      • 5.2.1.3.Canada
      • 5.2.1.3.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
      • 5.2.1.4. Mexico
      • 5.2.1.4.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
    • 5.2.2. Europe
      • 5.2.2.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
      • 5.2.2.2. U.K.
      • 5.2.2.2.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
      • 5.2.2.3. Germany
      • 5.2.2.3.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
    • 5.2.3. Asia Pacific
      • 5.2.3.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion
      • 5.2.3.2. China
      • 5.2.3.2.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
      • 5.2.3.3. Japan
      • 5.2.3.3.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
      • 5.2.3.4. India
      • 5.2.3.4.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
      • 5.2.3.5. South Korea
      • 5.2.3.5.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
    • 5.2.4. South America
      • 5.2.4.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
      • 5.2.4.2. Brazil
      • 5.2.4.2.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)
    • 5.2.5. Middle East and Africa (MEA)
      • 5.2.5.1. Market Estimates & Forecasts by Application 2022 - 2030 (USD Billion)

Chapter 6. Competitive Landscape

  • 6.1. Honeywell International Inc.
    • 6.1.1. Company Overview
    • 6.1.2. Financial Performance
    • 6.1.3. Product Benchmarking
    • 6.1.4. Strategic Initiatives
  • 6.2. LG Electronics, Inc.
    • 6.2.1. Company Overview
    • 6.2.2. Financial Performance
    • 6.2.3. Product Benchmarking
    • 6.2.4. Strategic Initiatives
  • 6.3. Lutron Electronics Co., Inc.
    • 6.3.1. Company Overview
    • 6.3.2. Financial Performance
    • 6.3.3. Product Benchmarking
    • 6.3.4. Strategic Initiatives
  • 6.4. Google Nest
    • 6.4.1. Company Overview
    • 6.4.2. Financial Performance
    • 6.4.3. Product Benchmarking
    • 6.4.4. Strategic Initiatives
  • 6.5. NETGEAR Inc.
    • 6.5.1. Company Overview
    • 6.5.2. Financial Performance
    • 6.5.3. Product Benchmarking
    • 6.5.4. Strategic Initiatives
  • 6.6. Ring LLC.
    • 6.6.1. Company Overview
    • 6.6.2. Financial Performance
    • 6.6.3. Product Benchmarking
    • 6.6.4. Strategic Initiatives
  • 6.7. Robert Bosch Gmbh
    • 6.7.1. Company Overview
    • 6.7.2. Financial Performance
    • 6.7.3. Product Benchmarking
    • 6.7.4. Strategic Initiatives
  • 6.8. Samsung Electronics Co., Ltd.
    • 6.8.1. Company Overview
    • 6.8.2. Financial Performance
    • 6.8.3. Product Benchmarking
    • 6.8.4. Strategic Initiatives
  • 6.9. Schneider Electric SE
    • 6.9.1. Company Overview
    • 6.9.2. Financial Performance
    • 6.9.3. Product Benchmarking
    • 6.9.4. Strategic Initiatives
  • 6.10. Philips Lighting B.V.
    • 6.10.1. Company Overview
    • 6.10.2. Financial Performance
    • 6.10.3. Product Benchmarking
    • 6.10.4. Strategic Initiatives

List of Tables

  • Table 1. Smart Homes - Industry Summary & Critical Success Factors (CSFs)
  • Table 2. Global smart homes market (Revenue), 2018 - 2030
  • Table 3. Global smart homes market by region (Revenue), 2018 - 2030
  • Table 4. Global smart homes market by application (Revenue), 2018 - 2030
  • Table 5. Global smart homes demand in security (Revenue), 2018 - 2030
  • Table 6. Global smart homes demand in security, by region, (Revenue), 2018 - 2030
  • Table 7. Global smart homes demand in lighting (Revenue), 2018 - 2030
  • Table 8. Global smart homes demand in lighting, by region, (Revenue), 2018 - 2030
  • Table 9. Global smart homes demand in entertainment (Revenue), 2018 - 2030
  • Table 10. Global smart homes demand in entertainment, by region, (Revenue), 2018 - 2030
  • Table 11. Global smart homes demand in energy management (Revenue), 2018 - 2030
  • Table 12. Global smart homes demand in energy management, by region, (Revenue), 2018 - 2030
  • Table 13. Global smart homes demand in HVAC (Revenue), 2018 - 2030
  • Table 14. Global smart homes demand in HVAC, by region, (Revenue), 2018 - 2030
  • Table 15. Global smart homes demand in other applications (Revenue), 2018 - 2030
  • Table 16. Global smart homes demand in other applications, by region, (Revenue), 2018 - 2030
  • Table 17. North America smart homes market by application (Revenue), 2018 - 2030
  • Table 18. Europe smart homes market by application (Revenue), 2018 - 2030
  • Table 19. Asia Pacific smart homes market by application (Revenue), 2018 - 2030
  • Table 20. South America smart homes market by application (Revenue), 2018 - 2030
  • Table 21. MEA smart homes market by application (Revenue), 2018 - 2030

List of Figures

  • Fig. 1 Smart Homes Market Segmentation
  • Fig. 2 Global smart homes market (Revenue), 2018 - 2030
  • Fig. 3 Smart homes value chain analysis
  • Fig. 4 Smart homes market dynamics
  • Fig. 5 Smart homes - Company market share analysis, 2021
  • Fig. 6 Key Opportunities Prioritized
  • Fig. 7 Industry Analysis - Porter's Five Forces
  • Fig. 8 Industry Analysis - PESTEL
  • Fig. 9 Smart homes market share by application, 2021 & 2030
  • Fig. 10 Global smart homes demand in security (Revenue), 2018 - 2030
  • Fig. 11 Global smart homes demand in lighting (Revenue), 2018 - 2030
  • Fig. 12 Global smart homes demand in entertainment (Revenue), 2018 - 2030
  • Fig. 13 Global smart homes demand in energy management (Revenue), 2018 - 2030
  • Fig. 14 Global smart homes demand in HVAC (Revenue), 2018 - 2030
  • Fig. 15 Global smart homes demand in other applications (Revenue), 2018 - 2030
  • Fig. 16 Smart homes market share by region, 2021 & 2030
  • Fig. 17 North America smart homes market, by application (Revenue), 2018 - 2030
  • Fig. 18 Europe smart homes market, by application (Revenue), 2018 - 2030
  • Fig. 19 Asia Pacific smart homes market, by application (Revenue), 2018 - 2030
  • Fig. 20 South America smart homes market by application (Revenue), 2018 - 2030
  • Fig. 21 MEA smart homes market by application (Revenue), 2018 - 2030