Smart Home Market 2019- 2025
Global Smart Home Market Research, Analysis and
Forecast Report, 2025- Meticulous research
Meticulous Research®– leading global market research company published a research
report titled Smart Home Market by Product (Smart Speakers, Smart Lighting, and
Smart Home Security), Standards & Protocols (Bluetooth, Wi-Fi, and ZigBee), and
Geography – Global Forecast to 2025.
According to this latest publication from Meticulous Research®, the global smart home
market is expected to grow at a CAGR of 16.5% from 2019 to reach $144.0 billion by
2025. Substantial growth in the global smart home market is mainly attributed to the
growing significance of internet and Internet of Things (IoT) and evolution of the new
breeds of smart devices. Growing sense of safety & security and the need for consistent
monitoring has urged consumers to incorporate smart security & monitoring devices
into their homes. Furthermore, the need for more practical and energy-efficient home
and kitchen appliances has also encouraged the demand for smart appliances, thereby,
complimenting the growth of the global smart home market. However, hesitance in
acceptance of the latest technology coupled with the high cost of procurement of smart
devices is expected to hinder the growth of the global smart homes market.
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Global smart homes market study presents historical market data in terms of values
(2017 and 2018), estimated current data (2019), and forecasts for 2025- by product
(smart lighting system, smart speakers, HVAC control, security & monitoring, smart
entertainment system, smart home appliances, smart kitchen appliances, smart home
healthcare system, and smart furniture), and protocols & standards (wireless protocol,
wired protocol, and hybrid protocol). The study also evaluates industry competitors and
analyzes the market at a regional and country level.
On the basis of product type, smart security & monitoring systems segment is estimated
to command the largest share of the global smart home market in 2019. The growth is
mainly attributed to the rising concerns associated with domestic theft and burglary.
Smart safety and monitoring systems have proved its metal in reducing the number of
criminal offenses with respect to home break-ins and hence, the system climbed to the
top of the priority list of consumers who are ready to incorporate smart home concept.
However, Smart speakers are expected to grow with the fastest growth rate in coming
years, owing to the growing popularity of smart speakers such as Google Home and
Amazon Echo. Smart speakers are proving their utilities as an interface between smart
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Smart Home Market 2019- 2025
devices and consumers and hence are predicted to spearhead the segment in terms of
growth rate.
On the basis of protocols & standards, wireless protocols and standards accounted for
the largest share of the global smart homes market. Owing to the widespread adoption
of wireless protocols such as Wi-Fi, Bluetooth, and ZigBee, among others helped
wireless protocols & standards to dominate the market segment. Besides declining cost
of wireless technology, introduction of 5G connectivity is also contributing to the
overall growth of wireless protocols.
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On the basis of geography, the overall smart home market is segmented into North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa with further
country level analysis in each region. With respect to revenue, North America is by far
the most commanding market and expected to maintain its dominance throughout the
forecast period. The market growth in North America is majorly attributed to higher
acceptance level of new technology by consumers and availability of variety of smart
devices. However, Asia Pacific is offering some serious challenge to the dominance of
North America in the global smart home market.
Rising enthusiasm of consumers for smart devices, presence of young consumer groups,
and growing disposable income has opened new doors of opportunity for smart home
players in Asia pacific region.
The major players operating in the global smart home market are Google LLC (U.S.),
Amazon (U.S.), Samsung (South Korea), Apple, Inc. (U.S.)., Siemens AG (German),
United Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Johnson
Controls International plc (U.S.), Schneider Electric SE (France), LG Electronics Inc.
(South Korea), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), ASSA
ABLOY (Sweden), General Electric Company (U.S.), Legrand S.A. (France), and Sony
Corporation (Japan), among others.
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Smart Home Market 2019- 2025
Key questions answered in the report:
• Which are the high growth market segments in terms of product, protocols &
standards, and countries?
• What was the historical market for smart home devices across the globe?
• What are the market forecasts and estimates for the period 2019-2025?
• What are the major drivers, restraints, opportunities, and challenges in the
global smart home market?
• Who are the major players in the global smart home market?
• How the competitive landscape in the global smart home market?
• What are the recent developments in the global smart home market?
• What are the different strategies adopted by the major players in the global
smart home market?
Table of Contents:
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.3.1. Currency
1.3.2. Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.1.1. Rising Sense of Home Safety and Security
4.2.1.2. Consistent Proliferation of Internet of Things (IoT)
4.2.1.3. Need for Attaining Better Energy Efficiency
4.2.2. Restraints
4.2.2.1. Consumer Hesitance in Technology Acceptance
4.2.2.2. High Cost of Procurement
4.2.3. Opportunities
Continued…
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Smart Home Market 2019- 2025
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