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Report explores the smart home market is predicted to witness rapid growth in worldwide industry to grow at a CAGR 13.08 % during 2018 to 2023

IT Market Research

Smart Home Market by Application(Security & Access, Lighting Control, Heating Ventilation & Air Conditioning, Smart Kitchen), by Software (Proactive, Behavioral)

Global Smart Home Market  Make an Inquiry about this newswas valued at USD 59.57 Billion in the year 2017. Global Smart Home Market is further estimated to grow at a CAGR of 13.08% from 2017 to reach USD 124.57 Billion by the year 2023.

North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At country level, developed markets like US as well the emerging markets like China with highest population base holds a notable market share in 2017 and it is projected to grow at a gradual pace in the coming years.

Schneider Electric Se (France), General Electric Company (US), Siemens AG (Germany), Samsung Electronics Co., Ltd. (South Korea), ABB Ltd. (Switzerland), Legrand S.A (France) are some of the key players in the Smart Home Market with General Electric Company holding the significant market share because of its better global presence both at production and at an operational level.

Rising research and development expenses to address the changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.

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Technological advancements in different segments related to smart homes

Government grants provided to promote green buildings


High cost of switching from existing devices to updated ones


Smart Homes provide opportunities for lateral growth to various sub-segments like lighting controllers and in-built data-connectivity technology


Device maintenance issues

Segmentation done on the basis of Application includes Security & Access, Lighting Control, Heating Ventilation & Air Conditioning, Smart Kitchen, Home Healthcare, Home Appliances, Entertainment of which the Lighting Control segment is expected to hold the highest market share during the forecast period.

The Entertainment segment is also expected to grow at the highest CAGR of XXX during year 2017-2023. This growth is attributed due to the use wireless entertainment systems.

Key Benefits for Stakeholders

Real estate builders

Sensor Component Manufacturers

Raw Material & equipment suppliers

Interior Designers and Project Consultants

Regulatory bodies, policy actors and consumers.

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By Application

Security & Access

Lighting Control

Heating Ventilation & Air Conditioning

Smart Kitchen

Home Healthcare

Home Appliances


By Software



By Region

North America




Key Market Players

Schneider Electric Se

General Electric Company

Siemens AG

Samsung Electronics Co., Ltd.

ABB Ltd.

Legrand S.A

Honeywell International, Inc.

United Technologies Corporation

Johnson Controls, Inc.

Ingersoll-Rand PLC

(Another brief information of 15 companies will provided in report)

News From

Genesis Market InsightsGenesis Market Insights
Category: Market Research Publishers and RetailersCompany about: Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across the globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in-house data validation tools, ...
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