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 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 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 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.

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

The global revenue in the smart home market was forecast to continuously increase between 2023 and 2028 by in total 96.7 billion U.S. dollars (+71.74 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 231.6 billion U.S. dollars and therefore a new peak in 2028. Notably, the revenue of the smart home market was continuously increasing over the past years.Find other key market indicators concerning the number of users and user penetration. The Statista Market Insights cover a broad range of additional markets.

The Middle East Smart Home Market Report is Segmented by Product (Comfort and Lighting, Control and Connectivity, Energy Management, Home Entertainment, and Security) and Country (Saudi Arabia, United Arab Emirates, Qatar, and the Rest of the Middle East). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

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 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).

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

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 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 Middle East Smart Home Market is projected to grow at a CAGR of around 22% during the forecast period 2023-28, which can be attributed to several factors such as rapid urbanization, rising disposable income, government initiatives, and increasing awareness of the benefits of smart living.

The revenue is forecast to experience significant growth in all segments in 2028. The trend observed from 2020 to 2028 remains consistent throughout the entire forecast period. There is a continuous increase in the indicator across all segments. Notably, the Smart Appliances segment achieves the highest value of 92.2 billion U.S. dollars at 2028. Find other insights concerning similar markets and segments, such as a comparison of number of users in Poland and a comparison of average revenue per unit (ARPU) in Europe. The Statista Market Insights cover a broad range of additional markets.

This statistic describes the market size of smart homes in the Middle East from 2012 to 2016, an estimate for 2017 and a forecast until 2022. According to projections, the market size for smart homes in the Middle East will total to 1.86 billion U.S. dollars by 2022.

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%.

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 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%