The future of the smart home market looks attractive with opportunities in the home safety and security, appliance, entertainment, lighting, HVAC, healthcare, and kitchen applications. The global smart home market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $119 billion by 2025 with a CAGR of 7% to 9% from 2020 to 2025. The major growth drivers for this market are increasing awareness related to safety and security, increasing consumer need for simplicity and personalized experience, and the growing adoption of cloud-based technologies.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of voice assistant technology for high-end automated households, emergence of air quality sensor devices that measure volatile organic compounds (VOCs), and growing adoption of video enabled drones. Honeywell, Johnson & Johnson ADT Corporation, Control4 Corporation, United Technologies Corporation, Siemens AG, Philips, Acuity Brands, and Vivint Inc. are among the major smart home providers.
A total of 96 figures / charts and 87 tables are provided in this 182 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of this smart home market report, download the report brochure.
Smart home opportunities have evolved through number of stages as presented in figure below:
Evolution of Smart Home Opportunities
In this market, safety and security is the largest segment by end use, whereas wireless is largest by technology type. Growth in various segments of the smart home market are given below:
Smart Home Market by Segments
The study includes the smart home market size, and forecast for the smart home market through 2025 by application, product and service, technology, and region as follows:
Smart Home Market by Application [$M shipment analysis from 2014 to 2025]:
- Safety and Security
- Home Appliance
- Home Healthcare
- Smart Kitchen
Smart Home Market by Product and Service Type [$M shipment analysis from 2014 to 2025]:
Smart Home Market by Technology Type [$M shipment analysis from 2014 to 2025]:
Smart Home Market by Region [$M shipment analysis for 2014 - 2025]:
- North America
- United States
- United Kingdom
- Asia Pacific
- South Korea
- The Rest of the World
- Some of the smart home companies profiled in this report include Honeywell, Johnson & Johnson ADT Corporation, Control4 Corporation, United Technologies Corporation, Siemens AG, Philips, Acuity Brands, and Vivint Inc.
- Lucintel forecasts that the safety and security market is expected to remain the largest segment due to the increasing need for continuous monitoring services to reduce the risk of crime, burglary, and theft. The entertainment segment is expected to experience the highest growth rate during the forecast period, supported by the increasing need of advanced technology that can provide a single platform for high level of control, flexibility, and deliver the best entertainment experience.
- Within the smart home market, the wireless segment is expected to remain the largest technology. It is also expected to witness the highest growth over the forecast period due to the increasing demand for Zigbee in healthcare, safety and security applications to support remote monitoring facilities, and consumer comfort and convenience enhancement.
- Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to the increasing adoption of cloud based technologies and increasing awareness related to safety and security. Increasing population, urbanization, rising standard of living, and increasing government expenditure on smart cities will further spur the growth in this region.
- Some of the features of this report:
- Market size estimates: Smart home market size estimation in terms of value ($M) shipment.
- Trend and forecast analysis: Market trend (2014-2019) and forecast (2020-2025) by segments and region.
- Segmentation analysis: Smart home market size by various applications such as application, product and service, and technology in terms of value and volume shipment.
- Regional analysis: Smart home market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth opportunities: Analysis on growth opportunities in different applications and regions of smart home in the smart home market.
- Strategic analysis: This includes M&A, new product development, and competitive landscape of smart home in the smart home market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following 11 key questions:
- Q.1 What are some of the most promising, high-growth opportunities for the smart home market by application (safety and security, home appliance, entertainment control, lighting, HVAC control, home healthcare, smart kitchen, and others), type (product and service) by technology (wired and wireless), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
- Q. 2 Which segments will grow at a faster pace and why?
- Q.3 Which regions will grow at a faster pace and why?
- Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the smart home market?
- Q.5 What are the business risks and threats to the smart home market?
- Q.6 What are the emerging trends in this smart home market and reasons behind them?
- Q.7 What are some changing demands of customers in the smart home market?
- Q.8 What are the new developments in the smart home market? Which companies are leading these developments?
- Q.9 Who are the major players in this smart home market? What strategic initiatives are being implemented by key players for business growth?
- Q.10 What are some of the competitive products and processes in this smart home area and how big of a threat do they pose for loss of market share via product substitution?
- Q.11 What M&A activity has occurred in the last 5 years in this smart home market?
- Report Scope
- Key Features Description
- Base Year for Estimation 2019
- Trend Period
- (Actual Estimates) 2014-2019
- Forecast Period 2020-2025
- Pages 182
- Market Representation / Units Revenue in US $ Billion
- Report Coverage Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger Acquisitions & Joint Venture, and Company Profiling
- Market Segments By product type (PCB connector, fiber optic connector, rectangular I/O, etc.), By end use industry (transportation, consumer electronics, etc.)
- Regional Scope North America (The United States, Canada, and Mexico), Europe (the UK, Germany, and France), Asia Pacific (Japan, China, South Korea and India), and RoW
- Customization 10% Customization Without any Additional Cost
Table of Contents
1. Executive Summary
2. Market Background and Classifications
- 2.1: Introduction, Background, and Classifications
- 2.2: Supply Chain
- 2.3: Industry Drivers and Challenges
3. Market Forecast Analysis from 2014 to 2025
- 3.1: Macroeconomic Trends and Forecast
- 3.2: Global Smart Home Market Trends and Forecast
- 3.3: Global Smart Home Market by Application
- 3.3.1: Safety and Security
- 3.3.2: Entertainment
- 3.3.3: HVAC Control
- 3.3.4: Lighting
- 3.3.5: Home Appliances
- 3.3.6: Smart Kitchens
- 3.3.7: Home Healthcare
- 3.3.8: Others
- 3.4: Global Smart Home Market by Product and Service Type
- 3.4.1: Product
- 3.4.2: Service
- 3.5: Global Smart Home Market by Technology
- 3.5.1: Wired
- 18.104.22.168: BACnet
- 22.214.171.124: LonWorks
- 126.96.36.199: DALI
- 188.8.131.52: Modbus
- 184.108.40.206: KNX
- 220.127.116.11: Others
- 3.5.2: Wireless
- 18.104.22.168: Zigbee
- 22.214.171.124: Wi-Fi
- 126.96.36.199: Bluetooth
- 188.8.131.52: EnOcean
- 184.108.40.206: Z-Wave
- 220.127.116.11: Others
4. Market Trends and Forecast Analysis by Region
- 4.1: Global Smart Home Market by Region
- 4.2: North American Smart Home Market
- 4.2.1: Market by Application: Safety and Security, Entertainment, Lighting, HVAC Control, Home Appliance, Smart Kitchen, Home Healthcare, and Others
- 4.2.2: The United States Smart Home Market
- 4.2.3: The Canadian Smart Home Market
- 4.2.4: The Mexican Smart Home Market
- 4.3: European Smart Home Market
- 4.3.1: Market by Application: Safety and Security, Entertainment, Lighting, HVAC Control, Home Appliance, Smart Kitchen, Home Healthcare, and Others
- 4.3.2: The United Kingdom Smart Home Market
- 4.3.3: The German Smart Home Market
- 4.3.4: The French Smart Home Market
- 4.4: APAC Smart Home Market
- 4.4.1: Market by Application: Safety and Security, Entertainment, Lighting, HVAC Control, Home Appliance, Smart Kitchen, Home Healthcare, and Others
- 4.4.2: The Chinese Smart Home Market
- 4.4.3: The Japanese Smart Home Market
- 4.4.4: The Indian Smart Home Market
- 4.4.5: The South Korean Smart Home Market
- 4.5: ROW Smart Home Market
- 4.5.1: Market by Application: Safety and Security, Entertainment, Lighting, HVAC Control, Home Appliance, Smart Kitchen, Home Healthcare, and Others
5. Competitor Analysis
- 5.1: Product Portfolio Analysis
- 5.2: Market Share Analysis
- 5.3: Geographical Reach
- 5.4: Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
- 6.1: Growth Opportunity Analysis
- 6.1.1: Growth Opportunities for the Global Smart Home Market by Application
- 6.1.2: Growth Opportunities for the Global Smart Home Market by Type
- 6.1.3: Growth Opportunities for the Global Smart Home Market by Technology
- 6.1.4: Growth Opportunities for the Global Smart Home Market by Region
- 6.2: Emerging Trends in the Global Smart Home Market
- 6.3: Strategic Analysis
- 6.3.1: New Product Development
- 6.3.2: Capacity Expansion of the Global Smart Home Market
- 6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Smart Home Market
7. Company Profiles of Leading Players
- 7.1: ADT Corporation
- 7.2: Honeywell International Inc.
- 7.3: Control4 Corporation
- 7.4: Haier
- 7.5: United Technologies Corporation
- 7.6: Siemens AG
- 7.7: Schneider Electric
- 7.8: Acuity Brands
- 7.9: Crestron Electronics Inc.
- 7.10: AMX Inc.
- 7.11: Monitronics International
- 7.12: Vivint Inc.
- 7.13: ASSA ABLOY