Smart Home - Denmark

  • Denmark
  • Revenue in the Smart Home market is projected to reach US$1,034.0m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.58%, resulting in a projected market volume of US$1,491.0m by 2028.
  • Household penetration will be 47.5% in 2024 and is expected to hit 79.0% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to US$788.00.
  • A global comparison reveals that most revenue is generated United States (US$38,800.0m in 2024).
Region comparison

Analyst Opinion

Denmark, known for its high-tech and sustainable living, has seen a significant rise in the adoption of Smart Home technology in recent years.

Customer preferences:
Danish consumers have shown a strong inclination towards energy efficiency and sustainability, which aligns well with the core benefits of Smart Home technology. The convenience and security offered by smart devices also appeal to tech-savvy Danish consumers who value innovative solutions for their homes.

Trends in the market:
One notable trend in the Smart Home market in Denmark is the integration of smart devices with renewable energy sources. As a country committed to reducing carbon emissions, many Danish households are investing in smart energy management systems to optimize their energy usage and contribute to a greener environment. Additionally, the rise of smart appliances and voice-controlled assistants has made home automation more accessible and appealing to a wider audience.

Local special circumstances:
Denmark's strong focus on sustainability and environmental consciousness has played a significant role in shaping the Smart Home market in the country. The government's initiatives to promote energy efficiency and smart living have created a conducive environment for the growth of the Smart Home industry. Furthermore, the high level of digital literacy among Danish citizens has accelerated the adoption of smart technologies in homes across the country.

Underlying macroeconomic factors:
The stable economy and high disposable income levels in Denmark have enabled more households to invest in Smart Home solutions. As the cost of smart devices continues to decrease and the awareness of their benefits increases, the market is expected to witness further growth in the coming years. Additionally, the presence of well-established tech companies in Denmark has fostered innovation and competition in the Smart Home sector, driving the development of advanced and user-friendly products for consumers.


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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