October 20, 2020

Smart Home Market Forecast and Trends Analysis Research Report 2020-2027

The Global Smart Home Market is projected to reach a value of over USD 340.3 billion by 2027 at a CAGR of around 20.5%.

Smart home refers to a convenient home setup where devices and appliances can be controlled automatically from anywhere with an Internet connection using mobile or other networked devices. A smart home allows end-users to control light, control appliances, and many other smart devices remotely using network devices through an Internet connection. A smart home provides services and solutions for lighting control, security & surveillance, HVAC control, smart kitchen, entertainment & other control, and home healthcare applications.

Smart Home Market: Drivers & Opportunities

Market Driver:

  • Increasing Adoption of Smartphone and Other Smart Gadgets

Increasing the population and increasing demand for home automation increases the demand for smartphones and other smart gadgets such as laptops, tablets, and desktop PCs during the forecast period. With the use of different mobile applications, end users can control various smart home applications such as controlling the light, security & Surveillance, family healthcare, and many other applications. The primary benefit of pairing a smartphone with a smart home is an end-user customer can operate or control the smart home application from anywhere in the world. The Internet gives full control of smart home applications to end-user customers. And hence it is expected to drive the market during the forecast period.

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Market Opportunity:

  • Advancement in The Internet of things (IoT) Technology

With the advancement in IoT technology helps to improve the efficiency at a higher level of management, overall profitability of the business and to reduce the risk. Through IoT, customers get a better connection through wireless technology. Furthermore, the Internet of Things advance can be realized for the overall products and lines of business from commercial to life, property and casualty and health. With the help of IoT, smart home appliances can save time, energy, and money.

Hence, advancement in IoT technology is expected to surge the smart home market during the forecast period.

Smart Home Market: Key Segments

  • Based on technology: Network Technology and Wireless Technology
  • Based on offering: Lighting Control, HVAC Control, Security & Surveillance, Entertainment & Other Control, Smart Kitchen, and Home Healthcare
  • Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

Smart Home Market: Report Scope

The report on the smart home market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

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List of the leading companies operating in the Smart Home Market include:

  • Honeywell International Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Schneider Electric
  • ABB
  • Johnson Controls
  • Legrand
  • United Technologies Corporation
  • LG Electronics
  • Lennox International Inc.
  • Other Key Companies
    • Lutron Electronics Co., Inc
    • Nest Labs

Smart Home Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Smart Home Market, by Technology

  • Network Technology
    • CDMA
    • GSM
    • LTE
  • Wireless Technology
    • Wi-Fi
    • Bluetooth
    • Zigbee
    • Infrared
    • Z-Wave
    • Others

Smart Home Market, by Offering

  • Lighting Control
    • Timers
    • Dimmers
    • Switches
    • Relays
    • Occupancy Sensors
    • Others
  • HVAC Control
    • Smart Vents
    • Smart Thermostats
    • Acutators
    • Pumps & Fans
    • Control Valves
    • Dampers
    • Humidifiers
    • Air Cleaners
    • Sensors
    • Others
  • Security & Surveillance
    • Access Control
      • Facial recognition
      • Iris Recognition
      • Fingerprint Recognition
      • Others
    • Video Surveillance
      • Harware
        • Security Cameras
        • Storage Devices
        • Monitors
        • Others
      • Software
      • Services
    • Entertainment & Other Control
      • Audio, Volume, and Multimedia Room Control
      • Home Theatre System Control
      • Wireless Doorbells
      • Smart Meters
      • Smart Hubs
      • Smart Lock
      • Smoke Detector
      • Others
    • Smart Kitchen
      • Smart Dishwashers
      • Smart Refrigerator
      • Smart Coffee Makers
      • Smart Ovens
      • Smart Cookers
      • Smart Kettles
      • Others
    • Home Healthcare
      • Physical Activity Monitors
      • Health Status Monitors
      • Others

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Smart Home Market by Region

  • Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
  • North America (US, Canada, Mexico)
  • Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
  • Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
  • South America (Brazil, Argentina, Rest of South America)

Key Questions Answered by The Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

Table of Content

    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
    1. Introduction
    2. Drivers
      1. Increasing Adoption of Smartphone and Other Smart Gadgets
      2. Growing Concerns Regarding Safety and Security
    3. Restraints
      1. Replacing Existing System with Smart Home or Connected Home System
    4. Opportunities
      1. Advancement in Internet of Things (IoT) Technology
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
    3. Protocols
      1. Digital Addressable Lighting Interface (DALI)
      2. KNX
      3. Lonworks
      4. Ethernet
      5. Building Automation and Control Network (BACNet)
  6. GLOBAL SMART HOME MARKET BY TECHNOLOGY, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Network Technology
      1. CDMA
      2. GSM
      3. LTE
    3. Wireless Technology
      1. Wi-Fi
      2. Bluetooth
      3. Zigbee
      4. Infrared
      5. Z-Wave
      6. Others
  7. GLOBAL SMART HOME MARKET BY OFFERING, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Lighting Control
      1. Timers
      2. Dimmers
      3. Switches
      4. Relays
      5. Occupancy Sensors
      6. Others
    3. HVAC Control
      1. Smart Vents
      2. Smart Thermostats
      3. Acutators
      4. Pumps & Fans
      5. Control Valves
      6. Dampers
      7. Humidifiers
      8. Air Cleaners
      9. Sensors
      10. Others
    4. Security & Surveillance
      1. Access Control
        1. Facial recognition
        2. Iris Recognition
        3. Fingerprint Recognition
        4. Others
      2. Video Surveillance
        1. Hardware
          1. Security Cameras
          2. Storage Devices
          3. Monitors
          4. Others
        2. Software
        3. Services
    5. Entertainment & Other Control
      1. Audio, Volume, and Multimedia Room Control
      2. Home Theatre System Control
      3. Wireless Doorbells
      4. Smart Meters
      5. Smart Hubs
      6. Smart Lock
      7. Smoke Detector
      8. Others
    6. Smart Kitchen
      1. Smart Dishwashers
      2. Smart Refrigerator
      3. Smart Coffee Makers
      4. Smart Ovens
      5. Smart Cookers
      6. Smart Kettles
      7. Others
    7. Home Healthcare
      1. Physical Activity Monitors
      2. Health Status Monitors
      3. Others
  8. GLOBAL SMART HOME MARKET BY REGION, Market Size in USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Taiwan
      6. Rest of Asia-Pacific
    3. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Netherlands
      6. Rest of Europe
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
    1. Honeywell International Inc.
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    3. Schneider Electric
    4. ABB
    5. Johnson Controls
    7. Legrand
    8. United Technologies Corporation
    9. LG Electronics
    10. Lennox International Inc.
    11. Other Key Companies
      1. Lutron Electronics Co., Inc
      2. Nest Labs
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

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