The global smart home market is anticipated to grow at an exponential CAGR of 20.4% during the forecast period. The smart home is known as home automation which includes the usage of internet-connected devices to manage and monitor several home appliances and systems such as smart lighting, smart home theaters, security devices, and others. The smart home is based on the advanced technology that aids in making operations of home appliances more convenient and energy saver. Many companies are entering the smart home market and planning to launch innovative smart products due to the increased demand for smart home devices. For instance, in May 2022, Google plans to launch its new smart home industry standard called Matter this fall. Devices will all connect quickly and easily using Fast Pair and the platform will support a variety of voice assistants and networking protocols which include Alexa, Google Assistant, Siri as well as WiFi, Thread, and Bluetooth LE. Consumers will be able to scan a code with their phones to get things rolling.
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The global smart home market is segmented based on product type, and distribution channel. Based on the product type, the market is segmented into comfort and lighting, control and connectivity, energy management, home entertainment, security, smart appliances, and others. Based on the distribution channel, the market is sub-segmented into online and offline. Among the product type segment, the home entertainment segment is expected to hold a prominent share in the growth of the global smart home market. Furthermore, the security and smart appliances segment is expected to be the fastest-growing segment in the growth of the smart home market across the globe.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Smart Homes Market by Product Type
- Comfort and Lighting
- Control and Connectivity
- Energy Management
- Home Entertainment
- Security and Smart Appliances
- Others
Global Smart Homes Market by Distribution Channel
- Online
- Offline
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- ADT Inc.
- com, Inc.
- Apple Inc.
- ASSA ABLOY
- CARLO RATTI ASSOCIATI
- Crestron Electronics Inc.
- Delta Controls Inc.
- Honeywell International Inc.
- Johnson Controls
- LG Electronics
- Ooma, Inc.
- Samsung Electronics
- Schneider Electric
- Siemens
- SimpliSafe, Inc.
- Snap One, LLC
- Sony Corp.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart home market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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