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Global smart home market revenue 2016-2022

Forecast market size of the global smart home market from 2016 to 2022 (in billion U.S. dollars)*

by Shanhong Liu, last edited Aug 9, 2019
Global smart home market revenue 2016-2022 The global smart home market is forecast to grow to 53.45 billion U.S. dollars in size by 2022. Smart home, also called home automation, is an automation system that controls the lighting, climate, entertainment, appliances, and home security such as alarm systems of a household.
Internet of Things (IoT)

Smart home devices, when connected to the internet, are a part of a network of devices called the Internet of Things (IoT). These connected devices share data among each other, providing benefits such as better quality of life and greater insight into business. The total installed base of Internet of Things (IoT) connected devices is projected to amount to 75.44 billion worldwide by 2025, a fivefold increase in ten years. In 2018, it is estimated that among all the IoT devices, 1.2 billion will be connected/smart home devices.

Smart home categories

Video entertainment is expected to have the largest share of smart home device shipments by 2023, with the unit shipment in this category amounting to 475.4 million by then. With 351.7 million device shipments, Home monitoring/security is predicted to be the second largest smart home category. The last couple of years have witnessed consumers’ enthusiasm for a new smart home device – the smart speaker, such as the Amazon Echo. As of the first quarter of 2019, smart speaker penetration among U.S. broadband households already topped 31 percent, surging from a mere seven percent two years before.
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Forecast market size of the global smart home market from 2016 to 2022 (in billion U.S. dollars)*

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