Smart Home - Canada

  • Canada
  • Revenue in the Smart Home market is projected to reach US$3.1bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.41%, resulting in a projected market volume of US$4.5bn by 2028.
  • Household penetration will be 41.0% in 2024 and is expected to hit 68.6% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to US$463.10.
  • A global comparison reveals that most revenue is generated United States (US$38,800.0m in 2024).
Region comparison

Analyst Opinion

The Smart Home market in Canada has been experiencing significant growth and innovation in recent years.

Customer preferences:
Customers in Canada are increasingly looking for smart home devices that offer convenience, energy efficiency, and enhanced security. They are drawn to products that can be easily integrated into their existing home setups and controlled remotely through their smartphones or voice assistants.

Trends in the market:
One notable trend in the Canadian Smart Home market is the increasing adoption of connected home security systems and smart thermostats. Canadians are investing in these technologies to improve the safety and comfort of their homes while also reducing energy costs. Additionally, the demand for smart lighting solutions that offer customization and energy savings is on the rise.

Local special circumstances:
Canada's vast geography and varying climate conditions play a significant role in shaping the Smart Home market trends in the country. The need for energy-efficient heating and cooling solutions, especially in regions with extreme temperatures, is driving the adoption of smart thermostats and HVAC systems. Moreover, the growing concern for home security in urban areas is fueling the demand for connected surveillance cameras and smart locks.

Underlying macroeconomic factors:
The stable economy and high standard of living in Canada have contributed to the growth of the Smart Home market. As disposable incomes rise, more consumers are willing to invest in smart home technologies to enhance their quality of life. Additionally, government incentives and rebates for energy-efficient home upgrades have incentivized Canadians to adopt smart devices that help reduce their carbon footprint.


Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.


  • Revenue
  • Key Players
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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