The smart home market is expected to reach USD 121.73 Billion by 2022, at a CAGR of 14.07% between 2016 and 2022. The report aims at estimating the market size and future growth potential of the smart home market based on different products, software and services, and geography.
The base year considered for the study is 2015 and the market forecast has been provided for the period between 2016 and 2022.
The smart home market has been classified on the basis of products into lighting control, security & access control, HVAC control, entertainment & controls, home healthcare, and smart kitchen. The market has been segmented on the basis of software and service into behavioral and proactive solutions.
The market on the basis of geography has been segmented into North America, Europe, APAC, and RoW. The growth of this market is expected to be high considering the increasing demand for lighting, entertainment controls, and home healthcare. Also, considering the convenience benefits and real-time energy consumption feedback achieved using proactive solutions, the installation rate of smart home systems is expected to increase during the forecast period.
The research methodology used to estimate and forecast the smart home market began with capturing data on key vendor revenue through the secondary research. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global smart home market from the revenue of key players in the market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through the primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives.
The market breakdown and data triangulation procedure has been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary is depicted in the figure below:
To know about the assumptions considered for the study, download the pdf brochure
The smart home ecosystem includes component manufacturers, device manufacturers, technology providers, software/service providers, smart home system distributors, and end users as important elements. Nest Labs, Inc. (U.S.), Honeywell International Inc. (U.S.), The ASSA ABLOY Group (Sweden), and Acuity Brands, Inc. (U.S.) are some of the prominent device manufacturers. Honeywell Life Care Solutions (U.S.), Vivint, Inc. (U.S.), Ecofactor (U.S.), Comcast Xfinity (U.S.), ADT Corporation (U.S.), and Time Warner Cable (U.S.) are among the significant software/service providers. The smart home market comprises major market players such as Honeywell International Inc. (U.S.), Legrand (France), Ingersoll-Rand plc. (Ireland), Johnson Controls Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), ABB Ltd. (Switzerland), Acuity Brands, Inc. (U.S.), United Technologies Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Nest Labs, Inc. (U.S.), and Crestron Electronics, Inc. (U.S.).
Target Audience of the Report:
- Automation & control vendors
- Automation & control networking technology vendors
- Real estate builders
- System integrators
- Home owners
- Project consultants
- Designers/consultants (HVAC, security, and fire & safety)
- Component manufacturers (sensors & controls)
- Software and solution providers
- Home management systems (product & service providers)
- Associations & standards
- Government bodies involved in green buildings
- Smart home providers who want to know more about home automation system and latest technological developments in this market
Scope of the Report
The research report segments the smart home market into following submarkets:
Protocol & Technologies Used:
- Network technologies
- Protocols & standards
- Wireless communication technologies
Market, by Product:
- Lighting control
- Security & Access control
- HVAC control
- Entertainment control
- Home healthcare
- Smart kitchen
- Others (Smart Meter, smart plug, smart hub, smart lock, smoke detector)
Market, by Software and Service:
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
- Product matrix which gives a detailed comparison of the product portfolio of each company
- Detailed analysis and profiling of additional market players (up to five)