Market Research Future Published a Cooked Research Report on "Global Smart Home Device Market "
MRFR recognizes the following companies as the key players in the global Smart Home Device market— SkyBell Technologies Inc, ADT Inc, Amazon.com, SimpliSafe Inc, Robert Bosch, PHILIPS LTG, Cree Inc, Honeywell International Inc, Google, Apple Inc, Samsung Electronics Co., Ltd.
The global Smart Home Device market is accounted to register a CAGR of 10.45% during the forecast period and is estimated to reach USD 302.02 Billion by 2030.
The smart home device market encompasses a range of connected devices designed to enhance the automation, convenience, and security of residential spaces. These devices, including smart speakers, thermostats, security cameras, and lighting systems, integrate with a central hub or smartphone app, allowing users to control and monitor their homes remotely while optimizing energy efficiency and improving overall comfort.
The global Smart Home Device market has been segmented based on Product, Connectivity and Platform.
Based on Product, the market is segmented into Smart Hubs and Controllers, Smart Surveillance Cameras, Smart Locks and Security Systems, Smart HVAC, Smart Lighting, Virtual Kitchen Appliances, Other. In 2022, the market for smart locks and security systems will account for the majority of sales of smart home devices worldwide. The rise in security-related expenditures and the need to restrict access to locations or safes housing priceless goods and artefacts are to blame for the increase.
Based on Connectivity, the global Smart Home Device market has been segmented into Bluetooth, Wi-Fi, Zigbee, Other. The market was controlled by the Wi-Fi sector. Wi-Fi offers a simple and dependable method for linking smart home appliances to the internet, allowing owners to remotely operate their appliances and incorporate them into a wider smart home ecosystem.
Based on Platform, the global Smart Home Device market has been segmented into Amazon Alexa, Google Assistant, Apple Siri, Samsung Bixby, Other. During the forecast period of 2023–2030, the Google Assistant segment is expected to increase at a higher rate than the other segments. It enables voice control and management of connected devices and is included into a variety of smart home products, such as smart speakers, smart displays, and smart home hubs.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Smart Home Device market Research Report
The global Smart Home Device market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Smart Home Device market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Smart Home Device market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Smart Home Device market comprises of Middle East, Africa, and Latin America.
The North America Smart Home Device Market dominated this market in 2022. Due to factors like a high level of disposable income, expanding knowledge of the advantages of smart home technology, and rising desire for connected and energy-efficient houses, the region has a high adoption rate of smart home devices.
The region having the highest CAGR during the projection period is Asia Pacific. Growth in this area is anticipated to be driven by the rising demand for automation solutions from residential applications.
During the projected period, North America is anticipated to account for the biggest market share. Major players functioning in this industry, including as Crestron, Amx, Honeywell International Ltd., and Control4 Corporation, are strongly represented, supporting this expansion.
Additionally, the ecosystem for smart homes is fast growing and existing solution providers are creating solutions.
The rise of small firms and greater investment by major corporations in countries like Germany, the U.K., France, and others are the main drivers of market growth in Europe. This rise is being driven by the rising need for intelligent security and monitoring solutions in this area.
Key Findings of the Study