PUBLISHER: The Business Research Company | PRODUCT CODE: 1760266
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760266
Smart home technologies encompass a variety of interconnected devices and systems designed to automate and remotely manage household functions such as lighting, security, heating, and entertainment through internet connectivity. These technologies aim to enhance convenience, energy efficiency, comfort, and safety. Additionally, they offer real-time monitoring and enable personalized settings that cater to individual preferences.
The main types of smart home technologies include Wi-Fi technology, Bluetooth technology, and others. Wi-Fi technology allows smart home devices to connect and communicate wirelessly for remote control through smartphones or voice assistants, ensuring seamless integration and efficient management of home appliances. Product types include smart speakers, smart lighting, smart thermostats, smart security systems, and more. These technologies are utilized in various applications such as lighting control, security and access control, heating, ventilation, and air conditioning (HVAC) control, among others. They are used by both residential and commercial end-users.
The smart home technologies market research report is one of a series of new reports from The Business Research Company that provides smart home technologies market statistics, including the smart home technologies industry global market size, regional shares, competitors with the smart home technologies market share, detailed smart home technologies market segments, market trends, and opportunities, and any further data you may need to thrive in the smart home technologies industry. This smart home technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart home technologies market size has grown exponentially in recent years. It will grow from $95.42 billion in 2024 to $116.67 billion in 2025 at a compound annual growth rate (CAGR) of 22.3%. The growth during the historic period can be attributed to the rise of smart home projects in real estate, increasing government support for smart infrastructure, growing awareness of remote health monitoring, the rising popularity of subscription-based home services, and heightened concerns about home security.
The smart home technologies market size is expected to see exponential growth in the next few years. It will grow to $259.38 billion in 2029 at a compound annual growth rate (CAGR) of 22.1%. The growth during the forecast period can be attributed to the increasing adoption of cloud-based smart home platforms, growing investments in smart city initiatives, rising demand for integrated home ecosystems, increasing interoperability among smart devices, and growing consumer interest in wellness-focused technologies. Key trends to watch include advancements in voice and gesture control, advanced data analytics for predictive automation, innovation in ambient sensing technologies, integration of blockchain for enhanced data security, and the incorporation of smart home devices with wearable technology.
The growing demand for connected homes is expected to drive the expansion of the smart home technologies market. Connected homes are smart residences where internet-enabled devices interact seamlessly, enabling the automation and remote control of various household tasks. The increasing demand for connected homes is driven by the ability to automate everyday activities and optimize energy use, which leads to greater convenience and lower utility costs. Smart home technologies enhance these connected homes by enabling the smooth integration of devices, allowing users to automate tasks and control systems remotely, thereby improving convenience and energy efficiency. For example, in October 2024, the Central Statistics Office, an India-based government agency, reported that the use of smart home appliances, both indoors and outdoors, rose to 15% in 2024, up from 6% in 2022. As a result, the growing demand for connected homes is fueling the growth of the smart home technologies market.
Leading companies in the smart home technologies market are focusing on developing advanced products, such as generative artificial intelligence (AI)-powered voice assistants, to offer more intuitive, personalized experiences in managing smart home devices. A generative AI-powered voice assistant is an advanced virtual assistant that uses artificial intelligence to provide natural, context-aware responses, understand complex queries, and adapt to user preferences. For instance, in February 2025, Amazon, a US-based technology company, launched Alexa+ to revolutionize the AI-powered voice assistant experience. By leveraging generative AI, Alexa+ offers smarter, more conversational, and personalized interactions. It can manage a variety of tasks, including controlling smart home devices, making reservations, and offering proactive suggestions, all while emphasizing user privacy and security. This next-generation assistant is designed for seamless integration across devices, enhancing user engagement and convenience.
In July 2024, LG Electronics, a South Korea-based consumer electronics company, acquired an 80% stake in Athom for an undisclosed amount. With this acquisition, LG Electronics aims to strengthen its connectivity within open smart home ecosystems by integrating Athom's capabilities with its AI-driven LG ThinQ platform. This move positions LG to lead the AI-driven home innovation era, offering personalized and optimized smart home environments. Athom is a Netherlands-based technology company specializing in smart home solutions.
Major players in the smart home technologies market are Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Siemens AG, Panasonic Corporation, Schneider Electric SE, Honeywell International Inc, ABB Ltd., General Electric Company, Centrica plc, Delta Electronics Inc., ASSA ABLOY AB, Acuity Brands Inc., Vivint LLC, WAGO Kontakttechnik GmbH And Co. KG, Crestron Electronics Inc., Lutron Electronics Co. Inc., Control4 Corporation, Pacific Control Systems LLC, ORVIBO Inc., Cytech Technology Pte. Ltd., HomeSeer Technologies LLC.
North America was the largest region in the smart home technologies market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in smart home technologies report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the smart home technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart home technologies market consists of revenues earned by entities by providing services such as remote monitoring and control, energy management, and home automation. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart home technologies market also includes sales of smart water leak detectors, smart air purifiers, smart mirrors, sleep trackers, pet care devices, smart mailboxes, and baby monitors. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Home Technologies Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart home technologies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart home technologies ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart home technologies market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.