Highlights:
The global market for smart home technologies is expected to increase from $102.3 billion in 2023 to $166.7 billion by the end of 2028, with a compound annual growth rate (CAGR) of 10.3% during the forecast period of 2023-2028.
The North American market for smart home technologies is expected to increase from $36.8 billion in 2023 to $56.0 billion by the end of 2028, with a CAGR of 8.8% during the forecast period of 2023-2028.
The Asia-Pacific market for smart home technologies is expected to increase from $19.9 billion in 2023 to $36.0 billion by the end of 2028, with a CAGR of 12.6% during the forecast period of 2023-2028.
Report Scope:
This report is based on an in-depth analysis of the global smart home technologies market by networking technology, component, application and geography. It includes an overview of the global market trends. In the overview, 2022 considered as the base year, and estimates for 2023 through 2028 are provided, along with projections of CAGR in the forecast period.
The scope of the report also includes a discussion of technological, regulatory and competitive elements as well as economic trends affecting the market. In addition, the report analyzes and discusses the major drivers and regional dynamics of the market and current trends within the industry. It concludes with detailed profiles of the major vendors in the global smart home technologies market.
Report Includes:
- 51 data tables and 50 additional tables
- An overview of the global market for smart home technologies
- In-depth analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, as well as forecasts for 2024 and 2026. This analysis includes projections of compound annual growth rates (CAGRs) through 2028
- Evaluation of the current market size and revenue growth prospects specific to smart home technologies, accompanied by a market share analysis by networking technology, component, application and geographic region
- Discussion on the future of smart homes, and coverage of trends and regulatory standards in smart home technologies
- Coverage of emerging technologies in smart homes, recent developments, future opportunities, relevant patents and ESG trends
- Market share analysis of the key companies in the industry and coverage of mergers & acquisitions, joint ventures, collaborations, partnerships, and other market strategies
- Company profiles of major players within the industry, including Johnson Controls International PLC, Honeywell International Inc., Schneider Electric SE, Siemens, and Assa Abloy AB
Table of Contents
Chapter 1 Introduction
- Study Goals and Objectives
- Reasons for Doing This Study
- Scope of Report
- What's New in this Update?
- Methodology
- Information Sources
- Geographic Breakdown
- Segmentation Breakdown
Chapter 2 Summary and Highlights
- Market Outlook
- Market Summary
Chapter 3 Market Overview
- Overview
- Evolution of Smart Homes
- Future of Smart Home Technologies
- Seamless Integration and Interoperability
- Enhanced Personalization and Customization
- Augmented Reality (AR) and Virtual Reality (VR) Integration
- Sustainable and Energy-Efficient Solutions
- Enhanced Security and Privacy Measures
- Integration of Health and Wellness Monitoring
- Regulatory Standards
- Safety and Compliance Regulations
- Data Privacy and Security Regulations
- Interoperability Standards and Protocols
- Environmental Sustainability Regulations
- Accessibility and Inclusivity Regulations
- Value Chain Analysis
- Manufacturing
- Distribution
- Porter's Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Consumers
- Threat of New Entrants
- Threat of Substitutes
- Competition in the Industry
- Impact of the COVID-19 Pandemic on the Market
- Impact of the Russia-Ukraine War on the Market
Chapter 4 Market Dynamics
- Overview
- Market Drivers
- Growing Acceptance of Smart Home Technology
- Enhanced Cellular Network and Internet Connectivity
- Growing Impact of Early Adopters as Trendsetters
- Increase in Demand for Convenience and Accessibility at Home
- Heightened Focus on Enhanced Energy Management Strategies and Practices
- Market Restraints
- Perceived Health Risks and Security
- Demand for One-Size-Fits-All Model
- Market Opportunities
- Enhanced User Experience via Voice Control Technology
- Government Initiatives to Help Promote Green Buildings
- Growing Developments and New Application Areas
- Technological Advancement
- Market Threat
- Rapid Technological Obsolescence
- Consumer Perception of Smart Home Technology as a Non-Essential Luxury
Chapter 5 Emerging Technologies and Developments
- Overview
- Current Market Trends
- Safety and Security
- Integration of AI and ML
- Rise of Voice-Controlled and Virtual Assistant Technologies
- Smart Home Technology for Energy Management
- Latent Demand for Compact Systems
- Impending Demand for a Universal Solution
- Emerging Technologies
- IoT
- Voice Control
- Energy Management
- AR
- Enhanced Security
- Health and Wellness Monitoring
Chapter 6 Market Breakdown by Networking Technology
- Overview
- Wireless Systems
- Wired Systems
- Computing Networks
- Power Line Systems
- Others
Chapter 7 Market Breakdown by Solution
- Overview
- Hardware
- Smart Hubs
- Smart Sensors
- Smart Thermostats
- Smart Lighting
- Smart Locks and Security Systems
- Smart Appliances
- Smart Entertainment Systems
- Smart Cameras and Video Doorbells
- Software
- Services
Chapter 8 Market Breakdown by Application
- Overview
- Safety and Surveillance
- Heating, Ventilation and Air Conditioning (HVAC)
- Entertainment
- Lighting
- Fire Safety
- Elevators
- Parking
- Water Management
- Others
Chapter 9 Market Breakdown by Region
- Overview
- North America
- Europe
- Asia-Pacific
- Rest of World
Chapter 10 Environmental, Social, and Governance (ESG) Perspective
- Overview
- ESG Performance in the Market for Smart Home Technologies
- Environmental Impact
- Social Impact
- Governance Impact
- Current Status of ESG in the Market for Smart Home Technologies
- Key ESG Issues in the Market for Smart Home Technologies
- Consumer Attitude toward ESG in Market for Smart Home Technologies
- Case Study
- Schneider Electric SE
- Concluding Remarks from BCC
Chapter 11 Patent Analysis
- Overview
- Geographical Patterns
Chapter 12 M&A and Funding Outlook
- M&A Analysis
- Start-up Funding in the Home Automation Field
Chapter 13 Competitive Landscape
Chapter 14 Company Profiles
- ABB LTD.
- ACUITY BRANDS INC.
- ADVANTECH CO. LTD.
- AMAZON.COM INC.
- APPLE INC.
- ASSA ABLOY AB
- CLIPSAL ELECTRIC PTY LTD. (SCHNEIDER ELECTRIC SE)
- CONTROL4 CORP. (SNAP ONE LLC)
- CRESTRON ELECTRONICS INC.
- CYTECH TECHNOLOGY PTE. LTD.
- CENTRICA PLC
- GENERAL ELECTRIC
- GOOGLE INC. (ALPHABET INC.)
- HONEYWELL INTERNATIONAL INC.
- IBM CORP.
- INGERSOLL-RAND
- JOHNSON CONTROLS INTERNATIONAL PLC
- LEGRAND S.A.
- LUTRON ELECTRONICS CO. INC.
- SIGNIFY HOLDING
- SAVANT SYSTEMS INC.
- SCHNEIDER ELECTRIC SE
- SIEMENS
- SYNAPSE WIRELESS INC.
- TELETASK BVBA
- VIVINIT INC.
Chapter 15 Appendix: Acronyms