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The global smart home market is expected to reach $107.4 billion by 2023 according to new research report

Industrial Market Research

Trends, opportunities and forecast to 2023 by application (safety and security, home appliance, entertainment control, lighting, HVAC control, home healthcare, smart kitchen, and others), by type (product and service) by technology (protocols & standards and wireless), and by region (North America, Europe, Asia Pacific, and the Rest of the World)

Smart Home Market Report: Trends, …petitive Analysis

According to a new market report published by Lucintel, the future of the smart home market looks attractive with opportunities in the home safety and security, appliance, entertainment, lighting, HVAC, healthcare, and kitchen applications. The global smart home market is expected to reach an estimated $107.4 billion by 2023 with a CAGR of 9.5% from 2018 to 2023.

The major growth drivers for this market are increasing awareness related to safety and security, increasing consumer need for simplicity and personalized experience, and the growing adoption of cloud-based technologies.

Browse 87 market data tables and 82 figures spread through 169 pages and in-depth TOC on “Global Smart Home Market"

Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to the increasing adoption of cloud based technologies and increasing awareness related to safety and security.

Increasing population, urbanization, rising standard of living, and increasing government expenditure on smart cities will further spur the growth in this region.


Emerging trends, which have a direct impact on the dynamics of the industry, include development of voice assistant technology for high-end automated households, emergence of air quality sensor devices that measure volatile organic compounds (VOCs), and growing adoption of video enabled drones. Honeywell, Johnson & Johnson ADT Corporation, Control4 Corporation, United Technologies Corporation, Siemens AG, Philips, Acuity Brands, and Vivint Inc.

are among the major smart home providers.


The study includes a forecast for the global smart home market by application, product and service, technology, and region as follows:

By Application [$M shipment analysis from 2012 to 2023]:

  • Safety and Security
  • Home Appliance
  • Entertainment
  • Lighting
  • HVAC
  • Home Healthcare
  • Smart Kitchen
  • Others

By Product and Service Type [$M shipment analysis from 2012 to 2023]:

  • Product
  • Service

By Technology Type [$M shipment analysis from 2012 to 2023]:

  • Protocols & Standards
  • – BACnet
  • – Lonworks
  • – DALI
  • – Modbus
  • – KNX
  • – Others
  • Wireless
  • – Zigbee
  • – Wi-Fi
  • – Bluetooth
  • – EnOcean
  • – Z-Wave
  • – Others

By Region [$M shipment analysis for 2012 – 2023]:

  • North America
  • – United States
  • – Canada
  • – Mexico
  • Europe
  • – United Kingdom
  • – Germany
  • – France
  • Asia Pacific
  • – Japan
  • – China
  • – South Korea
  • – India
  • The Rest of the World


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Lucintel – Global Management Consulting & Market Research FirmLucintel – Global Management...
Category: Market Research Publishers and RetailersCompany about: Lucintel, the premier global market research and management consulting firm creates your equation for growth - whether you need to understand market dynamics, identify new opportunities or increase your profitability. Lucintel team of trusted industry experts for materials and manufacturing industries have executed over hundreds of consulting projects for clients, ranging from small, emerging organizations up to multinational companies such as 3M, Audi, BASF, Cytec, DSM, Eastman, GE, H ...
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