Global: smart home market revenue 2018-2027

The global revenue in the smart home market was forecast to continuously increase between 2023 and 2027 by in total 83,600 million U.S. dollars (+60.01 percent). After the fourth consecutive increasing year, the revenue is estimated to reach 222,901.45 million U.S. dollars and therefore a new peak in 2027. Notably, the revenue of the smart home market was continuously increasing over the past years.

Find other key market indicators concerning the smart home market worldwide, such as user penetration and number of users.

Revenue of the smart home market worldwide from 2018 to 2027 (in million U.S. dollars)

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Supplementary notes

Data provided by Statista Market Insights are estimates.

The smart home market constitutes the sale of networked devices and related services that enable home automation for private end users (B2C). Considered are devices that are connected directly or indirectly via a so-called gateway to the Internet. Their main purposes are the control, monitoring and regulation of functions in a private household.

The remote control and monitoring of individual devices and, if applicable, their direct communication with one another (Internet of Things), is an essential component of intelligent home automation. Therefore, services which are necessary for the maintenance or control of the household network are also considered, e.g. subscription fees for control apps or external monitoring services.

Devices whose primary function is not the automation or remote control of household equipment, e.g. smartphones and tablets, are not included here. Similarly, devices that relate to household connection and remote control only to a limited extent, such as smart TVs, are not included either.

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