Smart Home revenue forecast in the segment Control and Connectivity in the United States until 2023

The UK smart home revenue market is expected to grow at a rate of 15.7% from 2.7 billion U.S. dollars in 2017 to 7.5 billion U.S. dollars in 2023. This market included the revenue of different segments such as home entertainment, smart appliances, energy management, comfort and lighting, control and connectivity and security. Predictably, factors such as urbanization and increased mobile connections are driving the market.

The UK smart home revenue for the control & connectivity segment is projected to grow at a robust pace of 16.2% from 3.5 billion U.S. dollars in 2017 to 8.7 billion U.S. dollars in 2024. The control and connectivity section was responsible for the development of connection infrastructure of smart Home IoT devices in the U.K. The revenues generated from this section also included devices such as smart speakers which have witnessed increased adoption in the country.

Owing to greater preference for newer gadgets as well as growing disposable income, the 25-34 age group were more likely to own a smart speaker compared to other population groups in the country. Alexa-enabled speakers developed by Amazon were the most popular smart speakers followed by Google Home at a distant second.

Smart Home - revenue forecast for the segment Control and Connectivity in the United States from 2017 to 2023

Revenue in million U.S. dollars
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Source

Release date

September 2019

Survey time period

2019

Supplementary notes

The Smart Home segment Control and Connectivity includes the essential equipment (connected and remote-control devices) and services that are part of an intelligent home network. The segment includes smart speakers (Amazon Echo, Google Home, etc.), central control and communication units (hub/gateway), programmable control buttons (e.g. wall switches and adjustable dials) and smart plugs for the control of non-smart devices. Revenues are also generated from services that support these hardware elements such as control apps and connectivity services. In previous releases, the products included here were part of the Home Automation segment. Heating controls are not included (see Energy Management).

*Regions only include countries listed in the Digital Market Outlook.

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