Smart Home Automation Market Size, Share | Report 2022-2030
The global smart home automation market was surpassed at USD 64.77 billion in 2021 and is expected to hit around USD 168.54 billion by 2030, growing at a CAGR of 11.21% from 2022 to 2030.
The growing demand for the convenience of remote and real-time operation of smart home automation system has increased the growth and penetration of the smart home automation. Increasing urban and geriatric population have created the need to incorporate smart home automation concept in order to address the arising challenges. Further, increase in demand of smartphones and easy accessibility of internet are expected to fuel growth in the demand for the in the coming future. The growing adoption of the automation in security, lighting, HVAC, energy management, and smart kitchen arenas is anticipated to revolutionize the market by 2030.
The market has been segmented based on varied technology of smart home automation, such as cellular, wireless, and others. Based on applications, the market has been segmented into security, lighting, entertainment, HVAC & energy management, and smart kitchen. The entertainment sector is the biggest application sector in terms of size and is expected to dominate for the forecast period owing to high demand of home theaters, touchscreens, audio/video controls, and other entertainment controls.
The growing awareness and popularity of smart home automation is encouraging manufacturers to invest in research & development for creating better products. Manufacturers are making significant investments to simultaneously develop several new products in an effort to enhance the users experience. Researchers are focusing on innovating reliable and cost-effective products.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 64.77 billion |
| Revenue Forecast by 2030 | USD 168.54 billion |
| Growth rate from 2022 to 2030 | CAGR of 11.21% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Component, technology, application, and region |
| Companies Covered |
ABB Ltd. (Switzerland); Control4 Corporation (U.S.); Crestron Electronics; Inc. (U.S.); Honeywell International Inc. (U.S.); Ingersoll-Rand plc (Ireland); Johnson Controls (U.S.); Legrand SA (France); Leviton Manufacturing Company; Inc. (U.S.); Lutron Electronics Co.; Inc. (U.S.); Schneider Electric (France); Siemens AG (Germany) |
component Insights
Based on component, the market has been segmented into hardware, software and service. The hardware segment is anticipated to dominate the component market by 2030. The service segment is expected to witness a significant growth owing to increasing adoption of the smart home automation technology.
Rapid advances in smart home automation system as well as using these technologies to add value to the provision of urban services require authorization for sustainable development of new methods. This may involve the integration of hardware, software, and service that would improve the competitiveness of the environment in which smart home automation system operates.
IT is becoming an essential part of the product itself. Processors, software, connectivity and embedded sensors in products, integrated with a product cloud in which some applications are run, and product data is analysed and stored, are driving substantial improvements in product performance and functionality.
Application Insights
Based on application, the market has been segmented into security, lighting, entertainment, hvac & energy management, and smart kitchen. The entertainment segment is anticipated to dominate the market by 2030. The smart kitchen segment is expected to witness a significant growth rate owing to the high demand originating for smart appliances.
The upsurge in need for push button control, energy-preservation, shifting demographic preferences and need to safeguard the global environment from polluting effluents such as greenhouse gasses and toxic wastes is expected to result in a significant market growth.
Smart home automation offers a number of advantages, such as system scalability and easy extension, aesthetical benefits, integration of mobile devices, maximizing home security, remote control of home functions, increased energy efficiency, improved appliance functionality, home management insights.
Technology Insights
Based on technology, the market has been segmented into cellular, wireless and others. The wireless segment is anticipated to dominate the wearable camera product market by 2030. Wireless technology is less invasive, have low set-up cost, and more convenient to use which has resulted in an increased adoption of it in the smart home automation system.
While there is enormous demand for technologically advanced solutions, the need for cost-effective solutions has also increased. Internet of Things (IoT) based solutions are trending in the home automation market and is the most preferred choice for most of the start-ups.
Smart home automation is all about a blend of comfort with more aesthetics. The advancements in the technology have not only provide the convenience but have also brought revolutionary change in its design aspects and practical use of the product.
Regional Insights
The North American region is estimated to be the key regional segment over the forecast period owing to well-established manufacturers and large consumer base. The region accounted for largest revenue share and is expected to grow at a CAGR of more than 8% from 2017 to 2030. The North American, European, and Asia Pacific regions are anticipated to remain the key revenue generating segments over the forecast period.
The Asia Pacific region is experiencing a healthy growth in disposable income owing to macroeconomic stimulus, which is anticipated to drive market growth. Innovative technologies, such as voice controlled smart home devices, and growing geriatric population base are the key factors driving the smart home automation market demand over the projected period.
The market in Europe is expected to be promising for global growth through the forecast period owing to increasing investments in infrastructure to improve standard of living. Increased demand for HVAC & energy management has significantly driven regional growth.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Smart Home Automation Market
5.1. COVID-19 Landscape: Smart Home Automation Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Smart Home Automation Market, By Component
8.1. Smart Home Automation Market, by Component, 2022-2030
8.1.1 Hardware
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Software
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Service
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Smart Home Automation Market, By Technology
9.1. Smart Home Automation Market, by Technology, 2022-2030
9.1.1. Cellular
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Wireless
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Others
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Smart Home Automation Market, By Application
10.1. Smart Home Automation Market, by Application, 2022-2030
10.1.1. Security
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Lighting
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Entertainment
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. HVAC & Energy Management
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Smart Kitchen
10.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Smart Home Automation Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.2. Market Revenue and Forecast, by Technology (2017-2030)
11.1.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Technology (2017-2030)
11.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Technology (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.2. Market Revenue and Forecast, by Technology (2017-2030)
11.2.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Technology (2017-2030)
11.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Technology (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Technology (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Technology (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.2. Market Revenue and Forecast, by Technology (2017-2030)
11.3.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Technology (2017-2030)
11.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Technology (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Technology (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Technology (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.2. Market Revenue and Forecast, by Technology (2017-2030)
11.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Technology (2017-2030)
11.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Technology (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Technology (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Technology (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.2. Market Revenue and Forecast, by Technology (2017-2030)
11.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Technology (2017-2030)
11.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Technology (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 12. Company Profiles
12.1. ABB Ltd. (Switzerland)
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Control4 Corporation (U.S.)
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Crestron Electronics; Inc. (U.S.)
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Honeywell International Inc. (U.S.)
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Ingersoll-Rand plc (Ireland)
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Johnson Controls (U.S.)
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Legrand SA (France)
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Leviton Manufacturing Company; Inc. (U.S.)
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Lutron Electronics Co.; Inc. (U.S.)
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Schneider Electric (France)
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers