Table of Content
- ♦ Recent Reports
- North America Smart Home Market – Industry Trends and Forecast to 2029
- Smart Homes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 -
- Private Companies
- Analysis by region, the market is segmented as follows:
- Global Smart Home Market Segmentation
- Key Industry Players in the Global Smart Home Market
According to Statista, the market for new tech for homes has actively grown in these regions, where billions of dollars’ worth of revenue have been recorded thus far. $23,577 million have been recorded in the US, followed by $16,241 million in China, $4,127 million in the UK, $4,113 million in Germany, and $3,814 million in Japan. A recent survey shows that about 81% of real estate purchasers would be more inclined to buy a house if it came along with smart technology products. As such, the popularity of this market is currently at its all-time high, since more and more people are looking to automate their homes.

For instance, one of the finest inexpensive smart home gadgets and the best smart plug in our opinion is the USD 25 Wemo WiFi Smart Plug. Even when compared to its predecessor, the Wemo Mini, is more compact than alternative solutions. The Wemo WiFi Smart Plug is compatible with all the main smart assistants, although it lacks energy monitoring like some other smart plugs.
♦ Recent Reports
The pandemic disrupted operational efficiency and affected the value chains due to the rash closure of international and national boundaries leading to damage and revenue loss. The existing smart products such as TVs and refrigerators remained popular as they aided the demand for entertainment and convenience of customers, who were forced to stay at home. The value chain had an unfavorable impact on the supply of raw materials, impacting the development of the smart home market. Additionally, in November 2018, Legrand acquired Netatmo, a French-based smart home company. Netatmo’s products will be integrated into Legrand's portfolio, which will allow the Group to increase its presence in this market and accelerate the development of Eliot, its connected solutions initiative.

Further, mergers and acquisitions, emerging market trends, the impact of COVID-19, and regional conflicts will all be considered. Amongst them, entertainment is expected to hold the highest smart home market share during the forecast period. Wireless communication and cellular technology advancements are major components driving the market growth.
North America Smart Home Market – Industry Trends and Forecast to 2029
Wireless solutions offer flexibility to end users by lowering the requirement for cables while also eliminating the need to rebuild prevailing residences. To enhance the functionality of smart appliances, numerous new wireless protocols have been created. Apart from existing technologies, like Bluetooth and Wi-Fi, the introduction of ZigBee as well as Z-Wave is estimated to result in significant technological breakthroughs across the smart appliances market. The Global Smart Home Appliances Market size is expected to reach $49.9 billion by 2028, rising at a market growth of 8.7% CAGR during the forecast period. As well as providing an overview of successful marketing strategies, market contributions, and recent developments of leading companies, the report also offers a dashboard overview of leading companies' past and present performance.
In addition to that, the report covers a thorough segmental analysis for each region comprising of market size and estimations for each segment by region for the years 2016–2028. In addition to that the report analyses Smart Home market at country-level hence the regional study is further bifurcated into key country-level markets from each region. North America is anticipated to dominate the global market during upcoming years. This is accredited to the presence of key market players combined with rising demand from the end-users. Some of the prominent country-level markets are the U.S., China, Germany, France, India, and Japan.
Smart Homes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 -
The key market trends and factors influencing the market players' growth are explained in this report. The global smart home market revenue is projected to expand at a CAGR of 11.9% during the forecast period. A smart home is a comfortable residential setting in which appliances and gadgets can be handled remotely from anywhere with an internet connection using a smartphone or other networked device.

Additionally, with the growing urbanization in developing economies, there has been a surge in smart buildings, which is estimated to bolster the market's overall growth. Furthermore, the increasing number of internet users, growing adoption of smart devices, and increasing customer preference for video doorbells, voice-assisted technologies and surveillance systems also further fuels market growth. Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Private Companies
This research concentrates on undiscovered market opportunities and provides important marketing tactics employed by influential players and market leaders in the Smart Home Energy Management Device market. Section 1 presents an overview of the Smart Home Energy Management Device market, focusing on key trends, market definitions, and advancements. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. ● Economic impact on the Smart Home industry and development trend of the Smart Home industry. Moreover, it helps new businesses perform a positive assessment of their business plans because it covers a range of topics market participants must be aware of to remain competitive.
All the above information related to companies will be specific to Smart Home market. Furthermore, innovative wireless technologies, such as, security and access regulators, HVAC controllers, and entertainment controls are likely to foster market growth. The global smart home devices market size is projected to expand at a CAGR of 10.4% during the forecast period. Asia Pacific dominated the smart home hardware market with a share of 36.2% in 2021. This is attributable to rising advanced technology and are relatively economical, the economic growth, increasing urbanization, and big telecom industry in Asia Pacific.

Rising need for energy-saving and solutions that reduce carbon emissions is driving market revenue growth. Traditional electrical equipment and systems are not particularly environmentally friendly. Devices with improved designs, created by designers who are conscious of the need to reduce carbon emissions, are thus required. The development of various innovative gadgets that can reduce a home's energy usage has been facilitated by the development of smart technology and smart systems, making houses greener and more sustainable than before. Homeowners around the world are increasingly adopting smart devices to reduce their carbon footprint to a greater extent such as smart thermostats. A smart thermostat combines the user's schedule and energy usage habits with the home's heating and cooling systems by memorizing them.
North America is forecast to register the 2nd highest CAGR of 12.8% from 2022 to 2028. The pandemic has accelerated flexible work approaches offered by employers which accelerated the high adoption of IoT smart home devices in North America. According to Smart Home Technology Usage, Satisfaction, and Purchase Intent, over 80 million U.S. households purchased smart home devices in 2020. Moreover, nearly 30 million U.S. households added smart home hardware during the forecast period. Thus, the region is expected to expand at the 2nd fastest CAGR during the forecast period. The IoT hardware for security & surveillance equipment segment is expected to witness 2nd highest CAGR of 12.3% from 2022 to 2028.
This report researches the key producers of Smart Home, also provides the revenue of main regions and countries. Highlights of the upcoming market potential for Smart Home, and key regions/countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.
For the Smart Home Energy Management Device market, the COVID-19 pandemic has been a crucial industry turning point. Many well-known businesses in the market were caught off guard by this pandemic and were forced to adapt in order to survive. However, it also provides beneficial information for companies that use digital marketing. This report thoroughly examines the level of market competition, product development trends, and the future outlook for large businesses.

This article shares relevant smart home statistics about the smart home market value, key advancements, demographics, use cases, and more. Four market scenarios – Study predictions for declining, flat, low growth, high growth smart home adoption and the megatrends that may adversely or favorably impact trajectory. Change/benefit analyses – Discover where device makers can deliver the highest consumer value through smart home devices with minimal disruption. Four market scenarios – Study predictions for declining, flat, low growth, and high growth smart home adoption and the megatrends that may adversely or favorably impact trajectory.