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Smart Home Automation Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Service), By Technology, By Application, By Fitment, By Region, And Segment Forecasts, 2023 - 2030

February 2023 | 163 pages | ID: S343E07DE21EN
Grand View Research, Inc.

US$ 4,950.00

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Smart Home Automation Market Growth & Trends

The global smart home automation market size is estimated to be valued at USD 444.98 billion by 2030, with a CAGR of 27.3% from 2023 to 2030, based on the latest report by Grand View Research, Inc. The smart home automation market demand is primarily driven by the rapid adoption of lighting, entertainment, and security & access solutions in the residential sector. Advanced technologies such as artificial intelligence, machine learning, and speech recognition, among others are expected to drive market growth. In addition, key market players have adopted various growth strategies such as partnerships and collaborations to provide technologically advanced solutions to create demand in the market. For instance, in January 2023, Xailient Inc. partnered with Adobe Systems to use artificial intelligence for privacy regulations-compliant face recognition in Adobe’s smart home video doorbells.

The market is expected to benefit from the increasing applications of smart home automation in security & access, entertainment, lighting, HVAC, energy management, smart kitchen, and other appliances during the forecast period. Based on application, the smart kitchen segment is expected to dominate the market due to new product launches following the rising demand for ease of cooking processes. For instance, in January 2023, Samsung Electronics Co., Ltd. launched the Bespoke smart refrigerator, which includes a 32-inch touchscreen and an artificial intelligence-optimized cooling process. The touchscreen display acts as an automation hub and enables connection to other smart home devices.

North America accounted for the largest market revenue share in 2022 and is expected to grow at a significant rate during the forecast period. The region is home to legacy manufacturers and solution providers, such as Honeywell International Inc. and Lutron Electronics Co., Inc., with a technological and supplier dominance owing to their long-standing presence in the market, which provides them with a competitive edge over new market entrants. Moreover, the region’s inclination to the adoption of modern technology such as artificial intelligence and the internet of things is expected to drive market growth.

Smart Home Automation Market Report Highlights
  • The hardware segment is expected to record the highest market share of over 65% in 2023 due to the growing trend of intelligent homes, through the installation of smart home automation products such as Google Home, Amazon Echo, and Samsung Smart Things
  • Based on technology, the wireless segment is expected to expand at the highest CAGR over the forecast period from 2023 to 2030 owing to its ease of set-up, and ability to connect without laying wires
  • Based on application, the smart kitchen segment is predicted to expand at the highest CAGR over the forecast period from 2023 to 2030 due to the rising demand for smart automated appliances for cooking purposes
  • Based on fitment, the new construction segment is predicted to record the highest CAGR during the forecast period from 2023 to 2030 due to the rising demand from newly constructed houses, as installations are easier in new constructions as compared to established homes
  • By geography, North America accounted for the largest market revenue share in 2023, owing to the presence of legacy companies that already have a large customer base and high technology dependence in the region
CHAPTER 1 METHODOLOGY AND SCOPE

1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources

CHAPTER 2 EXECUTIVE SUMMARY

2.1 Market Snapshot
2.2 Segment Snapshot (1/2)
2.3 Segment Snapshot (2/2)
2.4 Competitive Landscape Snapshot

CHAPTER 3 INDUSTRY OUTLOOK

3.1 Market Segmentation & Scope
3.2 Smart Home Automation Market Size and Growth Prospects
3.3 Smart Home Automation - Value Chain Analysis
3.4 Market Dynamics
  3.4.1 Market driver analysis
    3.4.1.1 Growing demand of home monitoring from remote locations
    3.4.1.2 Rapid penetration of Internet of things (IoT) and Smart gadgets
    3.4.1.3 Technological advancements
  3.4.2 Market restraint analysis
    3.4.2.1 High Initial Investment
3.5 Key Opportunities - Prioritized
3.6 Industry Analysis - Porter’s
3.7 Smart Home Automation Market - Key Company Analysis, 2021
  3.7.1 Key company analysis, 2021
3.8 Smart Home Automation - PEST Analysis

CHAPTER 4 SMART HOME AUTOMATION MARKET: COMPONENT ESTIMATES & TREND ANALYSIS

4.1 Smart Home Automation Market: Component Movement Analysis
  4.1.1 Hardware
    4.1.1.1 Smart home automation market by hardware, 2018 - 2030 (USD Million)
    4.1.1.2 Global hardware market by region, 2018 - 2030 (USD Million)
    4.1.1.3 Lighting control
      4.1.1.3.1 Smart home automation market by lighting control, by hardware, 2018 - 2030 (USD Million)
    4.1.1.3 Security & access control
      4.1.1.3.1 Smart home automation market by security & access control, by hardware, 2018 - 2030 (USD Million)
    4.1.1.3 HVAC control
      4.1.1.3.1 Smart home automation market by HVAC control, by hardware, 2018 - 2030 (USD Million)
    4.1.1.3 Entertainment control & others
      4.1.1.3.1 Smart home automation market by entertainment control & others, by hardware, 2018 - 2030 (USD Million)
    4.1.1.3 Smoke Detector
      4.1.1.3.1 Smart home automation market by smoke detector, by hardware, 2018 - 2030 (USD Million)
    4.1.1.3 Others
      4.1.1.3.1 Smart home automation market by others, by hardware, 2018 - 2030 (USD Million)
  4.1.2 Software
    4.1.2.1 Smart home automation market by software, 2018 - 2030 (USD Million)
    4.1.2.2 Global software market by region, 2018 - 2030 (USD Million)
  4.1.3 Service
    4.1.3.1 Smart home automation market by service, 2018 - 2030 (USD Million)
    4.1.3.2 Global service market by region, 2018 - 2030 (USD Million)

CHAPTER 5 SMART HOME AUTOMATION MARKET: TECHNOLOGY ESTIMATES & TREND ANALYSIS

5.1 Smart Home Automation Market: Technology Movement Analysis
  5.1.1 Wired
    5.1.1.1 Smart home automation market by wired, 2018 - 2030 (USD Million)
    5.1.1.2 Global cellular market by region, 2018 - 2030 (USD Million)
  5.1.2 Wireless
    5.1.2.1 Smart home automation market by wireless, 2018 - 2030 (USD Million)
    5.1.2.2 Global wireless market by region, 2018 - 2030 (USD Million)
  5.1.2 Hybrid
    5.1.2.1 Smart home automation market by hybrid, 2018 - 2030 (USD Million)
    5.1.2.2 Global hybrid market by region, 2018 - 2030 (USD Million)

CHAPTER 6 SMART HOME AUTOMATION MARKET: APPLICATION ESTIMATES & TREND ANALYSIS

6.1 Smart Home Automation Market: Application Movement Analysis
  6.1.1 Security & access
    6.1.1.1 Smart home automation market by security, 2018 - 2030 (USD Million)
    6.1.1.2 Global security market by region, 2018 - 2030 (USD Million)
  6.1.2 Lighting
    6.1.2.1 Smart home automation market by lighting, 2018 - 2030 (USD Million)
    6.1.2.2 Global lighting market by region, 2018 - 2030 (USD Million)
  6.1.3 Entertainment
    6.1.3.1 Smart home automation market by entertainment, 2018 - 2030 (USD Million)
    6.1.3.2 Global entertainment market by region, 2018 - 2030 (USD Million)
  6.1.4 HVAC & energy management
    6.1.4.1 Smart home automation market by HVAC & energy management, 2018 - 2030 (USD Million)
    6.1.4.2 Global HVAC & energy management market by region, 2018 - 2030 (USD Million)
  6.1.5 Smart kitchen
    6.1.5.1 Smart home automation market by smart kitchen, 2018 - 2030 (USD Million)
    6.1.5.2 Global smart kitchen market by region, 2018 - 2030 (USD Million)
  6.1.5 Other appliances
    6.1.5.1 Smart home automation market by smart kitchen, 2018 - 2030 (USD Million)
    6.1.5.2 Global other appliances market by region, 2018 - 2030 (USD Million)

CHAPTER 7 SMART HOME AUTOMATION MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

7.1 Smart Home Automation Market: Regional Movement Analysis
7.2 North America
  7.2.1 North America marketplace: Key takeaways
  7.2.2 North America smart home automation market, 2018 - 2030
  7.2.3 U.S. smart home automation market, 2018 - 2030
  7.2.4 Canada smart home automation market, 2018 - 2030
  7.2.5 Mexico smart home automation market, 2018 - 2030
7.3 Europe
  7.3.1 Europe marketplace: Key takeaways
  7.3.2 Europe smart home automation market, 2018 - 2030
  7.3.3 Germany smart home automation market, 2018 - 2030
  7.3.4 UK smart home automation market, 2018 - 2030
7.4 Asia Pacific
  7.4.1 Asia Pacific marketplace: Key takeaways
  7.4.2 Asia Pacific smart home automation market, 2018 - 2030
  7.4.3 China smart home automation market, 2018 - 2030
  7.4.4 Japan smart home automation market, 2018 - 2030
  7.4.5 India smart home automation market, 2018 - 2030
7.5 South America
  7.5.1 South America marketplace: Key takeaways
  7.5.2 South America smart home automation market, 2018 - 2030
  7.5.3 Brazil smart home automation market, 2018 - 2030
7.6 The Middle East & Africa (MEA)
  7.6.1 The Middle East & Africa (MEA) marketplace: Key takeaways
  7.6.2 MEA smart home automation market, 2018 - 2030

CHAPTER 8 COMPETITIVE LANDSCAPE

8.1 Company Profiles
  8.1.1 ABB Ltd.
    8.1.1.1 Company overview
    8.1.1.2 Financial performance
    8.1.1.3 Product benchmarking
    8.1.1.4 Recent developments
  8.1.2 Control4 Corporation
    8.1.2.1 Company overview
    8.1.2.2 Financial performance
    8.1.2.3 Product benchmarking
    8.1.2.4 Recent developments
  8.1.3 Crestron Electronics, Inc.
    8.1.3.1 Company overview
    8.1.3.2 Product benchmarking
    8.1.3.3 Recent developments
  8.1.4 Honeywell International, Inc.
    8.1.4.1 Company overview
    8.1.4.2 Financial performance
    8.1.4.3 Product benchmarking
    8.1.4.4 Recent developments
  8.1.5 Ingersoll-Rand plc
    8.1.5.1 Company overview
    8.1.5.2 Financial performance
    8.1.5.3 Product benchmarking
    8.1.5.4 Recent developments
  8.1.6 Johnson Controls
    8.1.6.1 Company overview
    8.1.6.2 Financial performance
    8.1.6.3 Product benchmarking
    8.1.6.4 Recent developments
  8.1.7 Legrand SA
    8.1.7.1 Company overview
    8.1.7.2 Financial performance
    8.1.7.3 Product benchmarking
    8.1.7.4 Recent developments
  8.1.8 Leviton Manufacturing Company, Inc.
    8.1.8.1 Company overview
    8.1.8.2 Product benchmarking
    8.1.8.3 Recent developments
  8.1.9 Lutron Electronics Co., Inc.
    8.1.9.1 Company overview
    8.1.9.2 Product benchmarking
    8.1.9.3 Recent developments
  8.1.10 Schneider Electric
    8.1.10.1 Company overview
    8.1.10.2 Financial performance
    8.1.10.3 Product benchmarking
    8.1.10.4 Recent developments
  8.1.11 Siemens AG
    8.1.11.1 Company overview
    8.1.11.2 Financial performance
    8.1.11.3 Product benchmarking
    8.1.11.4 Recent developments
LIST OF TABLES

Table 1 Smart home automation - Industry Snapshot & Key Buying Criteria, 2018 - 2030
Table 2 Global smart home automation market, 2018 - 2030 (USD Million)
Table 3 Global smart home automation market estimates and forecasts by component, 2018 - 2030 (USD Million)
Table 4 Global smart home automation market estimates and forecasts by technology, 2018 - 2030 (USD Million)
Table 5 Global smart home automation market estimates and forecasts by application, 2018 - 2030 (USD Million)
Table 6 Global smart home automation market estimates and forecasts by region, 2018 - 2030 (USD Million)
Table 7 Global hardware smart home automation market estimates and forecasts by application, 2018 - 2030 (USD Million)
Table 8 Global security & access control smart home automation market estimates and forecasts by hardware component, 2018 - 2030 (USD Million)
Table 9 Smart home automation market by hardware component, 2018 - 2030 (USD Million)
Table 10 Smart home automation market by software component, 2018 - 2030 (USD Million)
Table 11 Smart home automation market by service component, 2018 - 2030 (USD Million)
Table 12 Smart home automation market by cellular technology, 2018 - 2030 (USD Million)
Table 13 Smart home automation market by wireless technology, 2018 - 2030 (USD Million)
Table 14 Smart home automation market by security application, 2018 - 2030 (USD Million)
Table 15 Smart home automation market by lighting application, 2018 - 2030 (USD Million)
Table 16 Smart home automation market by entertainment application, 2018 - 2030 (USD Million)
Table 17 Smart home automation market by HVAC & energy management application, 2018 - 2030 (USD Million)
Table 18 Smart home automation market by smart kitchen application, 2018 - 2030 (USD Million)
Table 19 North America smart home automation market, 2018 - 2030 (USD Million)
Table 20 North America smart home automation market by component, 2018 - 2030 (USD Million)
Table 21 North America smart home automation market by technology, 2018 - 2030 (USD Million)
Table 22 North America smart home automation market by application, 2018 - 2030 (USD Million)
Table 23 U.S. smart home automation market by component, 2018 - 2030 (USD Million)
Table 24 U.S. smart home automation market by technology, 2018 - 2030 (USD Million)
Table 25 U.S. smart home automation market by application, 2018 - 2030 (USD Million)
Table 26 Canada smart home automation market by component, 2018 - 2030 (USD Million)
Table 27 Canada smart home automation market by technology, 2018 - 2030 (USD Million)
Table 28 Canada smart home automation market by application, 2018 - 2030 (USD Million)
Table 29 Mexico smart home automation market by component, 2018 - 2030 (USD Million)
Table 30 Mexico smart home automation market by technology, 2018 - 2030 (USD Million)
Table 31 Mexico smart home automation market by application, 2018 - 2030 (USD Million)
Table 32 Europe smart home automation market, 2018 - 2030 (USD Million)
Table 33 Europe smart home automation market by component, 2018 - 2030 (USD Million)
Table 34 Europe smart home automation market by technology, 2018 - 2030 (USD Million)
Table 35 Europe smart home automation market by application, 2018 - 2030 (USD Million)
Table 36 Germany smart home automation market by component, 2018 - 2030 (USD Million)
Table 37 Germany smart home automation market by technology, 2018 - 2030 (USD Million)
Table 38 Germany smart home automation market by application, 2018 - 2030 (USD Million)
Table 39 U.K. smart home automation market by component, 2018 - 2030 (USD Million)
Table 40 U.K. smart home automation market by technology, 2018 - 2030 (USD Million)
Table 41 U.K. smart home automation market by application, 2018 - 2030 (USD Million)
Table 40 Asia Pacific smart home automation market, 2018 - 2030 (USD Million)
Table 43 Asia Pacific smart home automation market by component, 2018 - 2030 (USD Million)
Table 44 Asia Pacific smart home automation market by technology, 2018 - 2030 (USD Million)
Table 45 Asia Pacific smart home automation market by application, 2018 - 2030 (USD Million)
Table 46 China smart home automation market by component, 2018 - 2030 (USD Million)
Table 47 China smart home automation market by technology, 2018 - 2030 (USD Million)
Table 48 China smart home automation market by application, 2018 - 2030 (USD Million)
Table 49 Japan smart home automation market by component, 2018 - 2030 (USD Million)
Table 50 Japan smart home automation market by technology, 2018 - 2030 (USD Million)
Table 51 Japan smart home automation market by application, 2018 - 2030 (USD Million)
Table 52 India smart home automation market by component, 2018 - 2030 (USD Million)
Table 53 India smart home automation market by technology, 2018 - 2030 (USD Million)
Table 54 India smart home automation market by application, 2018 - 2030 (USD Million)
Table 55 South America smart home automation market, 2018 - 2030 (USD Million)
Table 56 South America smart home automation market by component, 2018 - 2030 (USD Million)
Table 57 South America smart home automation market by technology, 2018 - 2030 (USD Million)
Table 58 South America smart home automation market by application, 2018 - 2030 (USD Million)
Table 59 Brazil smart home automation market by component, 2018 - 2030 (USD Million)
Table 60 Brazil smart home automation market by technology, 2018 - 2030 (USD Million)
Table 61 Brazil smart home automation market by application, 2018 - 2030 (USD Million)
Table 62 MEA smart home automation market, 2018 - 2030 (USD Million)
Table 63 MEA smart home automation market by component, 2018 - 2030 (USD Million)
Table 64 MEA smart home automation market by technology, 2018 - 2030 (USD Million)
Table 65 MEA smart home automation market by application, 2018 - 2030 (USD Million)
LIST OF FIGURES

Fig. 1 Information procurement
Fig. 2 Primary research pattern
Fig. 3 Primary research process
Fig. 4 Market formulation and data visualization
Fig. 5 Market snapshot
Fig. 6 Segment snapshot (1/2)
Fig. 7 Segment snapshot (2/2)
Fig. 8 Competitive landscape snapshot
Fig. 9 Market segmentation & scope
Fig.10 Value chain analysis
Fig.11 Market dynamics
Fig. 12 Penetration and growth prospect mapping
Fig. 13 Key company analysis, 2022
Fig.14 Industry analysis: Porter's
Fig. 15 PEST analysis
Fig. 16 Smart home automation market, by product, key takeaways, 2018 - 2030 revenue (USD Million)
Fig. 17 Application movement analysis & market share, 2022 & 2030 revenue (USD Million)
Fig. 18 Product movement analysis & market share, 2022 & 2030 revenue (USD Million)
Fig. 19 Regional market size estimates & forecasts, 2022 & 2030 (USD Million)
Fig. 20 Regional movement analysis & market share, 2022 & 2030 (USD Million)
Fig. 22 North America smart home automation market by country, 2022 & 2030
Fig. 22 Europe smart home automation market by country, 2022 & 2030
Fig. 23 Asia Pacific smart home automation market by country, 2022 & 2030
Fig. 24 South America smart home automation market by country, 2022 & 2030
Fig. 25 MEA smart home automation market, 2022 & 2030


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