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The report on the global Smart Home market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.

Market Highlights:

Smart Homes are homes which are powered by computing devices and information technology that connect various gadgets and instruments in the house to provide enhanced comfort, convenience, security, and entertainment to residents in a sustainable way. Apart from that it is also an eco-friendly home which aims to conserve energy and use more of the renewable sources of energy. The features such as security, conveniences and energy efficiency are spurring the growth of smart homes. Builders in various regions are contributing majorly in creating awareness about smart homes. 

The factors driving the global market of Smart Home market are Increasing urbanization, growing technology addiction for improving lifestyle, and rise in automation among others. Urbanization is increasing tremendously as per the observations by the United Nations. The United Nations has predicted that by 2050, about 64% of the developing world and 86% of the developed world will be urbanized. In this changing environment, due to the increasing population, excessive use of polluting machines and large amount of wastes the environmental concerns are ever increasing. Therefore, the increasing environmental concerns are driving the smart home implementation. On the other hand, technology limitation, lack of awareness are some of the factors hindering the growth of Smart Home Market. The advent of smart cities has led to the increase in demand of Smart Homes and it is expected that due to the smart city initiatives the Smart Home market is going to grow rapidly in the coming years. Apart from it, the government initiatives towards creating awareness about energy saving would also fuel the lighting control market in the coming years.

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Major Key players

  • United Technologies Corporation (U.S.),
  • General Electric Company (U.S.),
  • Schneider Electric (France),
  • Honeywell International, Inc. (U.S.),
  • Ingersoll-Rand PLC (Ireland),
  • Johnson Controls, Inc. (U.S.),
  • ABB Ltd. (Switzerland),
  • Legrand S.A. (France),
  • Samsung Electronics Co., Ltd. (South Korea)
  • Siemens AG (Germany),

 Other players in the market include Acuity Brands, Inc. (U.S.), Lutron Electronics Co. Inc. (U.S.), and Leviton Manufacturing Company, Inc. (U.S.).

Industry Updates

First Alert, a safety brand company announced the expansion of its OneLink line of smart home devices. The new updated smart home solutions line has been included with an updated version of the safe & Sound, a new whole-home Wi-Fi mesh system, and a smart video doorbell.

Tuya Smart has introduced new smart home security that is capable of recognizing each member of a family by face alone. The new system is artificial intelligence enabled that uses facial recognition technology to identify a member using just a photograph.

Competitive Analysis

The Market of Smart Home appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. Ecobee and Sun power has announced about its new program where both the companies are teaming up to provide help to consumers in taking control of their electricity cost.

The rising government funding towards smart cities is also expected to motivate key companies to invent new Smart Home modules that match the changing trends and needs across the globe. These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain leadership position in the market.


The global smart home market has been segmented based on components, application, and technology.

By components, the global smart home market has been segmented into software and services. The software segment has been further segmented into behavioral and proactive. The services segment has been further segmented into managed & professional service.

By application, the global smart home market has been segmented into lighting control, security & access control, HVAC control, entertainment & other control, home healthcare, smart kitchen, and home appliances.

The lighting control segment has been further segmented into relays, occupancy sensors, daylight sensors, timers, dimmers, switches, accessories, and other products.

The security & access control segment has been further segmented into video surveillance and access control. The video surveillance sub-segment has been further segmented into hardware, software, and services.

The entertainment & other control segment has been further segmented into entertainment controls and other controls. The entertainment control sub-segment has been further segmented into audio, volume, & multimedia room controls, home theater system controls, and touchscreens and keypads.

By technology, the global smart home market has been segmented into networks, protocols, and wireless. The network segment has been further segmented into CDMA networks, GSM/HSPA networks, LTE networks.  The protocols segment has been further segmented into Digital Addressable Lighting Interface (DALI), KNX, Digital Multiplexer (DMX), Ethernet and others. The wireless segment has been further segmented into ZigBee, z-wave, Wi-Fi, Bluetooth and others.

Regional Analysis

By region, the smart home market has been segmented into Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW). North America is the largest market for smart home. The region is a frontrunner in technological superiority and adoption which boost the market growth. In addition, the presence of major players in the region coupled with increased affordability due to high disposable income adds fuel to the growth of the market. Asia Pacific is expected to exhibit rapid growth rate over the forecast period due to the adoption of cloud technologies, increase awareness regarding smart home solutions, elevating standard of living and increasing smart home initiatives by governments in the region.

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Intended Audience

  • Raw material and manufacturing equipment suppliers
  • Automation & control vendors
  • Automation & control networking technology vendors
  • Real estate builders
  • System integrators
  • Homeowners
  • Project consultants
  • Designers/consultants (HVAC, security, and fire & safety)
  • Component manufacturers (sensors & controls)
  • Home management system (products & servers) providers
  • Smart Homes related associations, organizations, forums, and alliances
  • Government bodies associated with green buildings
  • VARs
  • Investors and consultants
  • Research/Consultancy Firms


Table 1 Global Smart Home Market, by Region, 2017–2023

Table 2 North America: Smart Home Market, by Country, 2017–2023

Table 3 Europe: Smart Home Market, by Country, 2017–2023

Table 4 Asia Pacific: Smart Home Market, by Country, 2017–2023

Table 5 The Middle East & Africa: Smart Home Market, by Country, 2017–2023

Table 6 Latin America: Smart Home Market, by Country, 2017–2023



FIGURE 1 Global Smart Home Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Smart Home Market

FIGURE 4 Value Chain of Global Smart Home Market