The Smart Home Market, Encompassing Home Automation, Home Intelligence, and Connected Home Technologies, is Undergoing Significant Transformation Due To Rising Demand for Innovative Wireless Solutions Like Security Regulators, Entertainment Controls, and HVAC Controllers. The Digital Home Market, A Segment of the Broader Automated Home Industry, is Seeing A Surge in Popularity, Particularly in North America, Where Smart Living is Becoming Increasingly Important. The Smart Household Industry is Highly Competitive, With Major Players Seeking To Expand Their Customer Base Globally.

The global smart home market is forecast to grow to 53.45 billion U.S. dollars in size by 2022. Smart home, also called home automation, is an automation system that controls the lighting, climate, entertainment, appliances, and home security such as alarm systems of a household.

Internet of Things (IoT)

Smart home devices, when connected to the internet, are a part of a network of devices called the Internet of Things (IoT). These connected devices share data among each other, providing benefits such as better quality of life and greater insight into business. The total installed base of Internet of Things (IoT) connected devices is projected to amount to 75.44 billion worldwide by 2025, a fivefold increase in ten years. In 2018, it is estimated that among all the IoT devices, 1.2 billion will be connected/smart home devices.

Smart home categories

Video entertainment is expected to have the largest share of smart home device shipments by 2023, with the unit shipment in this category amounting to 475.4 million by then. With 351.7 million device shipments, Home monitoring/security is predicted to be the second largest smart home category. The last couple of years have witnessed consumers’ enthusiasm for a new smart home device – the smart speaker, such as the Amazon Echo. As of the first quarter of 2019, smart speaker penetration among U.S. broadband households already topped 31 percent, surging from a mere seven percent two years before.

The smart home market size is predicted to reach $133.3 billion in 2024 to $1,033.68 billion by 2035, growing at a CAGR of 20.47% from 2024 to 2035.

The global market for smart and connected homes is predicted to grow from 158 billion U.S. dollars in 2019 to 262 billion U.S. dollars in revenue by 2025. As time progresses, many more devices at home are connected with the help of the Internet of Things leading to smarter homes and lifestyles.

The Report Covers North America Home Automation Systems and the Market is Segmented by Technology (Bluetooth, Wi-Fi, GSM/GPRS, ZigBee, RFID, EnOcean, Z-Wave), By Product Type (Security and Surveillance Systems, Lighting Systems, HVAC Controls, Energy Management, Entertainment Controls, Others), By Country (US, Canada). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

The global number of Smart Homes in the smart home market was forecast to continuously increase between 2023 and 2028 by in total 424.5 million users (+117.69 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 785.16 million users and therefore a new peak in 2028. Notably, the number of smart homes of the smart home market was continuously increasing over the past years.Find other key market indicators concerning the average revenue per user (ARPU) and user penetration. The Statista Market Insights cover a broad range of additional markets.

The Report Covers Smart Home Market Companies in the US and it is Segmented by Product Type (Comfort and Lighting, Control and Connectivity, Energy Management, Home Entertainment, Security, and Smart Appliances). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

The global smart homes market size reached USD 137.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 347.5 Billion by 2033, exhibiting a growth rate (CAGR) of 10.33% during 2025-2033. The market is experiencing steady growth driven by the rising adoption of smartphones, along with the wide availability of high-speed internet, increasing focus on energy efficiency, and technological advancements, such as the integration of the Internet of Things (IoT) and artificial intelligence (AI).

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 137.3 Billion
Market Forecast in 2033	USD 347.5 Billion
Market Growth Rate 2025-2033	10.33%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on component and application.

The number of smart homes in the 'Smart Appliances' segment of the smart home market in the United States was forecast to continuously increase between 2023 and 2028 by in total 28.5 million users (+165.31 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 45.72 million users and therefore a new peak in 2028. Notably, the number of smart homes of the 'Smart Appliances' segment of the smart home market was continuously increasing over the past years.Find other key market indicators concerning the average revenue per user (ARPU) and user penetration. The Statista Market Insights cover a broad range of additional markets.

The global smart home market reached approximately USD 52.01 Billion in 2024. The market is projected to grow at a CAGR of 15.00% between 2025-2034, reaching a value of around USD 210.41 Billion by 2034. The smart home market is booming and its market size is forecast to show major forward movement. The market is projected to grow at a significant CAGR driven by rising interest for energy efficiency and automation. Seamless connectivity depends much on key communication technologies including Matter, Zigbee, Bluetooth, and WiFi. Growing 5G network and emerging standards including NFC improve interoperability, thereby guaranteeing that the demand in the smart home market goes higher.

In 2023, the size of the smart home market in China amounted to over 715 billion yuan. With the development of 5G infrastructure and a high penetration rate of mobile phones, many Chinese electronics and home appliance manufacturers have developed smart home systems. Notable companies include Haier, Xiaomi, and Huawei. Digitalizing live The first tier of consumer products that had undergone digitalization were appliances. With a revenue of almost 17 million U.S. dollars, smart appliances accounted for around half of the annual smart home industry turnover. The segment included kitchen appliances, small household appliances, as well as vacuum robots. In contrast, the energy management segment only generated a revenue of 1.7 million U.S. dollars. Beyond consumer electronics Smart technology has the potential to do much more than connect consumer electronics. For instance, smart heating systems and smart electricity meters could optimize energy consumption. By avoiding consumption peaks, a smart electrical meter can start household appliances when electricity is in low demand. Similarly, smart heating systems reduce heating when nobody is home or during the night. These are just two examples of how smart technology can not only help preserve precious resources but also contribute to reducing the utility costs of households.

The global smart home market size crossed USD 140.95 billion in 2024 and it is set to experience impressive growth, with a CAGR above 15.6%, to exceed USD 927.93 billion by 2037. Asia Pacific industry is estimated to hold largest revenue share of 38% by 2037, owing to rising urbanization, disposable income, and a tech-savvy population in the region.

The global smart home devices demand is subjected to growth at a CAGR of 17.8%. The market revenue is likely to be valued at US$ 58.4 billion in 2023, and exhibit a revenue growth of US$ 300 billion by 2033.

Attributes	Details
Current Year Value (2023)	US$ 58.4 billion
Expected Forecast Value (2033)	US$ 300 billion
Historical CAGR (2018 to 2022)	20.6%
Projected CAGR (2023 to 2033)	17.8%

Country-wise Insights

Country	United States
HCAGR (2018 to 2022)	20.5%
FCAGR (2023 to 2033)	17.6%

Country	United Kingdom
HCAGR (2018 to 2022)	19.3%
FCAGR (2023 to 2033)	16.6%

Country	China
HCAGR (2018 to 2022)	20%
FCAGR (2023 to 2033)	17.1%

Country	Japan
HCAGR (2018 to 2022)	18.7%
FCAGR (2023 to 2033)	16.2%

Country	South Korea
HCAGR (2018 to 2022)	18.3%
FCAGR (2023 to 2033)	15.9%

Smart Home Market size was valued at USD 222.38 Billion in 2024 and is projected to reach USD 1048.72 Billion by 2031, growing at a CAGR of 23.60% from 2024 to 2031.

The smart home market is driven by several key factors. Increasing consumer demand for convenience and automation plays a significant role, as smart home devices simplify everyday tasks and enhance quality of life. Advancements in Internet of Things (IoT) technology and the proliferation of connected devices have made it easier to integrate and manage various smart home systems. Energy efficiency and cost savings also drive market growth, as smart thermostats, lighting, and appliances help reduce energy consumption and utility bills. Additionally, growing awareness and concerns about home security boost the adoption of smart security systems. Finally, increasing smartphone penetration and high-speed internet availability facilitate seamless control and monitoring of smart home devices, further propelling the market forward.

In 2023, the Africa Smart Home Market reached a value of USD 2.32 billion, and it is projected to surge to USD 8.63 billion by 2030.

Smart Home Market is expected to record around 23.8% CAGR during 2023-28, says MarkNtel Advisors, says MarkNtel Advisors.

The China Smart Home Market Report is Segmented by Product Type (Comfort and Lighting, Control and Connectivity, Energy Management, Home Entertainment, Security, Smart Appliances, and HVAC Control) and Technology (Wi-Fi, Bluetooth, and Other Technologies). The Report Offers the Market Sizes and Forecasts for all the Above Segments in Value (USD).

The Global Smart Home Market Size Was Worth USD 85.6 billion in 2021 and Is Expected To Reach 137.9 billion by 2026, CAGR of over 10.4%.

Smart Home Market Size, Share, Forecast, & Trends Analysis by Product Type (Smart Lightning Systems, Smart Speakers, Smart Security & Monitoring Systems, Smart Home Appliances), Protocol & Standard (Wireless Protocols, Wired Protocols, Hybrid Protocols), and Geography - Global Forecast to 2031

The household penetration rate in the smart home market in the United States was forecast to continuously increase between 2023 and 2028 by in total 27.2 percentage points. After the ninth consecutive increasing year, the indicator is estimated to reach 75.06 percent and therefore a new peak in 2028. Notably, the household penetration rate of the smart home market was continuously increasing over the past years.Find other key market indicators concerning the number of users and average revenue per user (ARPU). The Statista Market Insights cover a broad range of additional markets.