Smart Home revenue forecast for selected countries 2018

The U.S. led the smart home market with a revenue of 19.6 U.S. billion dollars in 2018 with China at a distant second. The incorporation of technology into the smart home has seen an increased spurt in the last few years, along with the growth in IoT connected devices. With the introduction of higher-speed data networks such as 5G as well as more secure WiFi platform such as WiFi 6 across the globe, smart home systems are interconnected by faster, more powerful networks. These networks also enabled the development of smart home entertainment systems and smart speakers, which are growing in popularity. The faster networks also aided the smart homes to be well integrated with mobile devices which can act as a second control interface.

Although only a fifth of all the US homes are classified as smart homes, consumers are rapidly integrating smart home systems into their households. Unsurprisingly, the Americans accounted for the majority of the smart home device revenue with Asia at the second place.

Smart Home revenue forecast for selected countries 2018

Revenue in million U.S. dollars
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Source

Release date

September 2019

Survey time period

2019

Supplementary notes

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.

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