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 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 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 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%

The German Smart Home Market Report is Segmented by Product (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) for all the Above Segments.

The global smart home automation market is targeting USD 268.97 billion by 2032 and is expected to grow at a compound annual growth rate (CAGR) of 15.4%

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

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 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 statistic shows the market size of the smart home market by region from 2013 to 2025. For 2020, the source forecasts unit sales of smart home units in North America to reach 165 million units.

The Japan 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 Market Sizes and Forecasts are Provided in Terms of Value (USD) 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.

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.

The size and share of the market is categorized based on Type (WiFi, Bluetooth) and Application (Home, Commercial) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The global smart home solutions market is likely to be valued at US$ 78,342.6 Million in 2022 and is predicted to secure a rapid-paced CAGR of 12.3% during the forecast period. The market is expected to grow at a value of US$ 2,50,456.9 Million by 2032.

Report Attribute	Details
Smart Home Solutions Market Value (2022)	US$ 78,342.6 Million
Smart Home Solutions Market Anticipated Value (2032)	US$ 2,50,456.9 Million
Smart Home Solutions Projected Growth Rate (2022 to 2032)	12.3%

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 12.3% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2014 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in US$ million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Product Application End-User Region
Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East and Africa
Key Countries Profiled	United States of America Canada Brazil Argentina Germany United Kingdom France Spain Italy Nordics BENELUX Australia & New Zealand China India ASIAN GCC Countries South Africa
Key Companies Profiled	Honeywell Siemens Johnson Controls Schneider Electric ASSA ABLOY Amazon Apple ADT ABB Robert Bosch Sony Samsung Electronics Ooma Delta Controls Control4 Axis Communications Comcast Smarthome Crestron Electronics SimpliSafe Armorax Canary LG Electronics Lutron Legrand
Customization	Available Upon Request

[297 Pages Report] The global smart home automation market is estimated to grow from US$ 72 Billion in 2022 to US$ 168 Billion in 2032 while displaying a CAGR of 8.84% during the 2022-2032 period. Increasing penetration of the Internet of Things (IoT) has evolved the machine to machine communication which has motivated users to adopt smart home automation technology.

Data Points	Key Statistics
Smart Home Automation Market CAGR (2022-2032)	8.84%
Smart Home Automation Market Value (2022)	US$ 72 Billion
Smart Home Automation Market Value (2032)	US$ 168 Billion
Smart Home Automation Market Driver	Innovative smart devices offer safety, convenience, efficient energy saving, and lower utility cost products, which is expected to benefit the smart home automation market during the forecast period.

The Start-Up Scenario: How Key Trendsetters have revolutionized the Market Landscape?

Start-Up	Alarm.com
Origin	United States
Year of Establishment	2000

Start-Up	Netatmo
Origin	France
Year of Establishment	2011

Start-Up	Nest
Origin	United States
Year of Establishment	2010

Start-Up	Notion
Origin	United States
Year of Establishment	2013

Start-Up	Ajax Systems
Origin	United States
Year of Establishment	2011

Start-Up	iDevices
Origin	United States
Year of Establishment	2010

Start-Up	Caavo
Origin	United States
Year of Establishment	2015

Start-Up	Unified Remote
Origin	Sweden
Year of Establishment	2010

Start-Up	Bond Home
Origin	United States
Year of Establishment	2016

Start-Up	Xped
Origin	Australia
Year of Establishment	2006

[223+ Pages Report] The global smart home as a service market size is expected to grow from USD 10.46 billion in 2022 to USD 25.15 billion by 2030, at a CAGR of 11.54% from 2023-2030

This statistic presents the smart home market revenue in the United Kingdom (UK) in 2016, and provides a forecast until 2022, broken down by market segment. Home entertainment smart home revenue in the UK is expected to grow from 265 million U.S. dollars in 2017 to 625 million U.S. dollars in 2022. An overview of all Digital Markets can be found here. Statista’s Digital Market Outlook offers forecasts, detailed market insights and essential performance indicators of the most significant areas in the “Digital Economy”, including various digital goods and services. Alongside revenue forecasts for 50 countries worldwide, Statista offers additional insights into consumer trends and demographic structure of digital consumer markets.

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.