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Report Overview
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.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
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Voice-controlled virtual assistants like Amazon Alexa, Google Assistant, and Apple Siri have become central to the smart home experience.
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A major focus in market is on the integration of various devices to create a seamless and interoperable ecosystem.
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North America holds a major market share as the region due to the ongoing technological advancements.
Smart Home Market Growth Factors
Widespread Adoption of IoT Solutions Driving Market Expansion.
Market growth is being driven by the quick adoption of Internet of Things (IoT) solutions, allowing for easy interconnectivity among devices. Sophisticated sensors and 5G technology improve automations, connecting homes to become smarter and more interactive. The Internet of Things (IoT) is also key to the design of energy-saving solutions, maximizing household energy usage. Through ongoing innovation, the growth trajectory of the smart home market is to continue growing, fueled by increasing use of the Internet of Things (IoT) and the need for convenience among consumers.
IoT platforms are transforming smart home technologies, using machine learning and artificial intelligence to offer improved automation. Consumers increasingly turn to smart appliances, once more driving the global market for intelligent home solutions.
Smart Home Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the global smart home market was valued at around USD 52.01 Billion.
The market is projected to grow at a CAGR of 15.00% during the forecast period of 2025-2034.
The market is driven by increasing internet penetration, growing adoption of smart devices, and rising demand for innovative home monitoring technology.
The key trends of the market include increasing digital advancements, rising demand for energy-efficient products, and increasing adoption of technology in home management applications.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various products of smart home in the market are lighting control, security and access control, HVAC control, entertainment, home healthcare, smart kitchen, home appliances, and smart furniture, among others.
The significant software and services in the market are proactive and behavioural.
Key players in the market are Honeywell International, Johnson Controls International, Schneider Electric, Siemens AG, United Technologies Corporation, Apple Inc., Amazon Inc., Centrica Connected Home Limited, Emerson Electric Co., General Electric Company, SAMSUNG, and Sony Corporation, among others.
The global smart home market is projected to reach approximately USD 210.41 Billion by 2034.
The critical factor driving market growth is the increasing adoption of artificial intelligence (AI) and the Internet of Things (IoT) in home automation.
Asia-Pacific is expected to hold the largest market share during the forecast period.
The safety and security access control segment is expected to record the highest CAGR during the forecast period.
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