Consumer & Luxury Goods Market Research News

Global smart home market now worth more than USD 48.7 billion

Consumer Market Research

The Global smart home market was estimated to be USD 48.7 billion in 2016 and is projected to reach USD 125.9 billion by the end of 2025, exhibiting a CAGR of 11.1% during 2016–2025 on account of factors such as rise in the internet of things, increasing penetration of energy-efficient systems and solutions as well as growing demand for real time home security solutions and consumer electronics worldwide.


According to GMI Research report, “Global Smart Home Market By Appli… 2016–2025 Make an Inquiry about this news”, the global smart home market was estimated to be USD 48.7 billion in 2016 and is projected to reach USD 125.9 billion by the end of 2025, exhibiting a CAGR of 11.1% during the forecast period. The key factors driving growth of the market are rise in the internet of things, increasing penetration of energy-efficient systems and solutions as well as growing demand for real time home security solutions and consumer electronics worldwide.

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Based on Application, Home Appliances are expected to grow at the highest CAGR through 2025

The rise in the disposable income coupled with changing lifestyles of people worldwide has created huge demand for smart home appliances worldwide. The household consumers are focussing more towards reducing their energy costs by using these technologically advanced home appliances.