Smart home Market Insights, Size and Growth Forecast To 2027

Global Smart Home Market by Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture), By Deployment (Software and Services), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa) - Global Forecast to 2027

Published: Aug-2020	Report ID: IACT2006	Pages: 1 - 275	Formats^*:
Category : Information & Communications Technology

"The smart home market anticipated growing by the rapid pace of urbanization and the rise in income disposable among consumers across the globeâ€.

The global smart home market predicted to grow from USD 80.5 billion in 2020 to USD 145.5 billion by 2027, at a CAGR 13.6% during the forecast period 2020-2027, owing to the upsurge in income levels across the world. The global smart home market will bolster by the growth in demand because of the security measures, entertainment, and authentication and low carbon emission-oriented solution. The smart home market is growing due to urbanization, and people want everything to be done by automation and in a centralized manner where they can control everything through sensors or remote controllers. In different regions across the globe, smart home devices are growing because of the increasing demand for smartphones and gadgets, which helps in accessing and controlling devices and provide entertainment as well.

COVID-19 impact on the smart home market

The COVID-19 pandemic has seriously affected the smart home market globally. Worldwide sales are expected to decrease by 10-12% in this year, depending on the spread of the corona virus and its cases.

Smart home market growth aspects

Moreover, increasing crime rates and concerns about home security increase the smart home demand in the global market. The growing demand in the future of smart home devices will grow more because of the rise in the income level, the standard of living, urbanization, and increasing population. China and Japan are among the potential countries for the higher growth of the smart home market due to the growth in the large-scale implementation of hardware and software solutions across these countries. The smart home devices have a vast market of various products, such as lighting controls, HVAC controls, security, and access controls, among others.

Further, adoption in the smart home for entertainment controls helps in boosting the growth of the market for the home theatre system. The increase in the smart home market can attributed to the surge in demand for smart home products, including smart meters and smoke detectors. Additionally, the growing cost of electricity expected to drive household consumers toward energy savings. Moreover, the increase in demand for smart plugs, smart hubs, and smart locks will fuel the global smart home in the upcoming year.

Product Type Overview in the smart home market

Based on Product Type, the global smart home market categorized into Lighting Control, Home Appliances, Security & Access Control, Entertainment, HVAC, Smart Speaker, Home Healthcare, Smart Kitchen, Smart Furniture Products, and others. Home appliances segment expected to dominate the global smart home market owing to the rise in the urban population coupled with the increase in demand for monitoring, controlling, and automating functions in a home.

Deployment Overview in the smart home market

Based on deployment, the global smart home market bifurcated into software and services. The software segment estimated to dominate the market, owing to the Internet of things (IoT) which, increases the connection between machine to machine solutions. There are two types of software and services- behavioral and proactive. The behavioral type software and services analyze energy-related data and then forward it to the end-users. The segment restricts only to transmitting and receiving data and, like the proactive type, does not perform intelligent actions. Behavioral type solutions provide direct feedback to end-users and provide essential information related to historical data reflecting energy usage and real-time energy data. Therefore, behavioral type software and services held the largest share in 2019.

Regional Insights Overview in the smart home market

Based on the region, the global smart home market segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific anticipated generating maximum revenue in the global smart home market owing to high spending on smart home devices along with increasing environmental concern regarding carbon emission-oriented solutions.

Global smart home market: Competitive Landscape

Companies such as ADT, Robert Bosch GmbH, ASSA ABLOY, ABB Ltd., Ingersoll-Rand PLC, ABB, S.A., GE, Comcast Corp. are the key players in the global smart home market.

1. Research Strategic Development

1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation

2. Research Methodology

2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation

3. Executive Summary

4. Market Insights

4.1. Economic Factor Analysis

4.1.1. Drivers
4.1.2. Trends
4.1.3. Opportunities
4.1.4. Challenges

4.2. Technological Landscape
4.3. Competitors & Product Analysis
4.4. Policy & Regulatory Framework
4.5. Company market share analysis, 2019
4.6. Porterâ€™s Five forces analysis
4.7. New Investment Analysis
4.8. PESTEL Analysis

5. Global Smart Home Market Overview

5.1. Market Size & Forecast, 2016-2027

5.1.1. By Value (USD Million)

5.2. Market Share & Forecast, 2016-2027

5.2.1. By Product
5.2.1.1. Lighting Control
5.2.1.2. Security & Access Control
5.2.1.3. HVAC
5.2.1.4. Entertainment
5.2.1.5. Smart Speaker
5.2.1.6. Home Healthcare
5.2.1.7. Smart Kitchen
5.2.1.8. Home Appliances
5.2.1.9. Smart Furniture
5.2.1.10. Others
5.2.2. By Deployment
5.2.2.1. Software
5.2.2.2. Services
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia Pacific
5.2.3.4. South America
5.2.3.5. Middle East & Africa

6. North America Smart Home Market Overview

6.1. North America Smart Home Market Size & Forecast, 2016-2027

6.1.1. By Value (USD Million)

6.2. North America Smart Home Market Share & Forecast, 2016-2027

6.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others)
6.2.2. By Deployment (Software and Services)
6.2.3. By Country
6.2.3.1. US
6.2.3.2. Canada
6.2.3.3. Mexico
6.2.4. Company Market Share (Top 3-5)
6.2.5. Economic Impact Study on North America Smart Home Market

7. Europe Smart Home Market Overview

7.1. Europe Smart Home Market Size & Forecast, 2016-2027

7.1.1. By Value (USD Million)

7.2. Europe Smart Home Market Share & Forecast, 2016-2027

7.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others)
7.2.2. By Deployment (Software and Services)
7.2.3. By Country
7.2.3.1. Germany
7.2.3.2. UK
7.2.3.3. France
7.2.3.4. Italy
7.2.3.5. Rest of Europe
7.2.4. Company Market Share (Top 3-5)
7.2.5. Economic Impact Study on Europe Smart Home Market

8. Asia Pacific Smart Home Market Overview

8.1. Asia Pacific Smart Home Market Size & Forecast, 2016-2027

8.1.1. By Value (USD Million)

8.2. Asia Pacific Smart Home Market Share & Forecast, 2016-2027

8.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others)
8.2.2. By Deployment (Software and Services)
8.2.3. By Country
8.2.3.1. China
8.2.3.2. India
8.2.3.3. Japan
8.2.3.4. Australia
8.2.3.5. Rest of Asia Pacific
8.2.4. Company Market Share (Top 3-5)
8.2.5. Economic Impact Study on Asia Pacific Smart Home Market

9. South America Smart Home Market Overview

9.1. South America Smart Home Market Size & Forecast, 2016-2027

9.1.1. By Value (USD Million)

9.2. South America Smart Home Market Share & Forecast, 2016-2027

9.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others)
9.2.2. By Deployment (Software and Services)
9.2.3. By Country
9.2.3.1. Brazil
9.2.3.2. Argentina
9.2.3.3. Rest of South America
9.2.4. Company Market Share (Top 3-5)
9.2.5. Economic Impact Study on South America Smart Home Market

10. Middle East & Africa Smart Home Market Overview

10.1. Middle East & Africa Smart Home Market Size & Forecast, 2016-2027

10.1.1. By Value (USD Million)

10.2. Middle East & Africa Smart Home Market Share & Forecast, 2016-2027

10.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others)
10.2.2. By Deployment (Software and Services)
10.2.3. By Country
10.2.3.1. Saudi Arabia
10.2.3.2. UAE
10.2.3.3. South Africa
10.2.3.4. Rest of Middle East & Africa
10.2.4. Company Market Share (Top 3-5)
10.2.5. Economic Impact Study on Middle East & Africa Smart Home Market

11. Competitor Analysis

11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company Profile

11.7.1. ADT
11.7.2. Robert Bosch GmbH
11.7.3. ASSA ABLOY
11.7.4. ABB Ltd.
11.7.5. Ingersoll-Rand PLC
11.7.6. ABB
11.7.7. Legrand S.A.
11.7.8. GE
11.7.9. Comcast Corp.
11.7.10. Other Prominent Players

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

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