Smart Home - Singapore

  • Singapore
  • Revenue in the Smart Home market is projected to reach US$262.7m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 11.69%, resulting in a projected market volume of US$408.8m by 2028.
  • Household penetration will be 47.6% in 2024 and is expected to hit 96.7% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to US$366.20.
  • A global comparison reveals that most revenue is generated United States (US$38,800.0m in 2024).
Region comparison

Analyst Opinion

Smart Home technology in Singapore is rapidly gaining popularity among consumers, with a variety of factors driving its growth in the market.

Customer preferences:
Consumers in Singapore are increasingly looking for ways to enhance convenience, efficiency, and security in their homes. The demand for smart home devices that can be controlled remotely via smartphones or voice commands is on the rise. Additionally, there is a growing interest in energy-saving solutions and environmental sustainability, leading to the adoption of smart home products that monitor and regulate energy usage.

Trends in the market:
One of the key trends in the Smart Home market in Singapore is the integration of artificial intelligence and machine learning capabilities into devices. This allows for personalized automation and predictive analytics, making the home environment more intuitive and responsive to individual needs. Another trend is the expansion of smart home ecosystems, where different devices and systems can communicate with each other seamlessly to create a cohesive and interconnected network within the home.

Local special circumstances:
Singapore's compact urban environment and tech-savvy population create a conducive environment for the growth of the Smart Home market. The government's push towards building a Smart Nation further fuels the adoption of smart technologies, including smart home solutions, across the country. Additionally, the high level of internet penetration and smartphone usage in Singapore provides a solid foundation for the proliferation of smart home devices and systems.

Underlying macroeconomic factors:
The strong economic growth and high standard of living in Singapore contribute to the increasing disposable income levels among consumers. This allows for greater spending on premium smart home products and services. Furthermore, the government's initiatives to promote innovation and technology adoption in various sectors support the development and expansion of the Smart Home market in the country.


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
Please wait


Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)