Revenue in the Smart Home market is projected to reach US$28.58bn in 2022.
Revenue is expected to show an annual growth rate (CAGR 2022-2027) of 12.15%, resulting in a projected market volume of US$56.18bn by 2027.
In the Smart Home market, the number of active households is expected to amount to 150.5m users by 2027.
Household penetration will be 17.8% in 2022 and is expected to hit 40.9% by 2027.
The average revenue per installed Smart Home currently is expected to amount to US$449.80.
A global comparison reveals that most revenue is generated in the United States (US$31,450.00m in 2022).
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.
Digitally connected and controlled devices within a house that can be remote controlled
Sensors, actuators and cloud services that support automation in any way
Control hubs to connect sensors and actuators with remote controls and to each other
B2C hardware and software sales as well as subscription fees
B2B/C2C sales of any kind (e.g. to hotels or office buildings)