Smart Home - Malaysia

  • Malaysia
  • Revenue in the Smart Home market is projected to reach US$353.8m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 12.93%, resulting in a projected market volume of US$575.5m by 2028.
  • Household penetration will be 17.8% in 2024 and is expected to hit 29.5% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to US$239.30.
  • A global comparison reveals that most revenue is generated United States (US$38,800.0m in 2024).
Region comparison

Analyst Opinion

In Malaysia, the Smart Home market is experiencing a steady growth driven by increasing consumer demand for convenience, efficiency, and connectivity in their homes.

Customer preferences:
Consumers in Malaysia are increasingly seeking smart home devices that offer convenience, energy savings, and enhanced security. With the rise of urbanization and dual-income households, there is a growing need for solutions that can simplify daily tasks and provide peace of mind. Smart home products that can be controlled remotely via smartphones are particularly popular among tech-savvy Malaysian consumers.

Trends in the market:
One notable trend in the Malaysian Smart Home market is the growing adoption of voice-controlled smart speakers and virtual assistants. These devices offer hands-free control over various smart home functions and are becoming more integrated into Malaysian households. Additionally, there is a rising interest in smart lighting systems, smart thermostats, and home security cameras as consumers prioritize energy efficiency and home security.

Local special circumstances:
In Malaysia, the government's initiatives to promote sustainable living and energy efficiency are influencing the adoption of smart home technologies. Programs aimed at reducing energy consumption and carbon emissions are driving interest in smart home devices that can help households monitor and manage their energy usage more effectively. Additionally, the increasing number of smart home solution providers entering the Malaysian market is contributing to greater awareness and availability of smart home products.

Underlying macroeconomic factors:
The growing middle-class population and increasing disposable income levels in Malaysia are fueling the demand for smart home products. As more Malaysian households seek ways to enhance their quality of life and modernize their living spaces, the Smart Home market is expected to continue its upward trajectory. Furthermore, advancements in technology and the availability of affordable smart home devices are making it easier for consumers to upgrade their homes with connected solutions.


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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