Smart Homes Market Anticipated to Hit $354.9 Billion by 2031 | Exclusive Report by Meticulous Research®

News provided by

Meticulous Market Research Pvt. Ltd.

Aug 26, 2024, 11:00 ET

REDDING, Calif., Aug. 26, 2024 /PRNewswire/ -- According to a new market research report titled, 'Smart Homes Market by Offering (Compute, Storage, Others), Deployment (Public, Private, Hybrid), Organization Size, Application (Hosting, Others), Sector (IT & Telecommunications, BFSI, Others), and Geography - Global Forecast to 2031,' the smart homes market is projected to reach $354.9 billion by 2031, at a CAGR of 13.5% from 2024–2031.

Get insightful data on regions, market segments, customer landscape, and companies - Preview the snapshot of this report

A smart home can be defined as a residence using internet-connected devices and appliances, enabling the residents to monitor, control, and manage all the processes across the home. These processes include lighting, HVAC, security & surveillance, entertainment, and other process-participating appliances. Smart home or home automation systems are designed to connect all smart devices and appliances through a common network and operate synchronized per user preferences and habits. The smart home market report provides an in-depth market analysis of smart home systems, components, and standards & protocols.

Discover more about market segmentation and geographic forecasts by accessing the full report – CLICK HERE

The global smart homes market is segmented by product type (into smart lighting systems, smart speakers, smart HVAC control (smart thermostats, smart vents, smart air conditioning), smart security & monitoring systems (security cameras, interface, smart locks & access control), smart entertainment systems, smart home appliances (smart washing machines, smart water heaters, robotic vacuum cleaners), smart kitchen appliances (smart refrigerators, smart coffee makers, smart dishwashers, smart ovens), smart home healthcare systems, and smart furniture (smart sofas and recliners, smart tables & desks), protocol & standard (wireless protocols (ZigBee, Wi-Fi, Bluetooth, Z-Wave, Thread, Enocean), wired protocols (KNX, UPB, X10, BACNET, LONWORKS, DALI, MODBUS, ETHERNET), hybrid protocols (Insteon, C-Bus)). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Get a Glimpse Inside: Request Sample Pages- https://www.meticulousresearch.com/request-sample-report/cp_id=5029

Based on product type, the global smart homes market is segmented into smart lighting systems, smart speakers, smart HVAC control, smart security & monitoring systems, smart entertainment systems, smart home appliances, smart kitchen appliances, smart home healthcare systems, and smart furniture. In 2024, the smart security & monitoring systems segment is expected to account for the largest share of around 23% of the global smart homes market. The large market share of this segment is attributed to the rising sense of home safety and security. The smart security systems industry is evolving with technological developments, leading to the availability of systems with better security features and improved performance. In March 2023, Google LLC (U.S.) and ADT (U.S.) launched a smart home security system to offer internet-connected security features with their existing smart home ecosystem for consumers. As smartphones and the Internet have gained wider penetration, the security and monitoring systems industry immediately leveraged this and integrated connectivity and remote access into the systems. This ensures that the benefits of these systems are realized without compromising individual rights and privacy.

Based on protocol & standard, the global smart homes market is segmented into wireless protocols, wired protocols, and hybrid protocols. In 2024, the wired protocols segment is expected to account for the largest share of around 47% of the global smart homes market. The large market share of this segment is attributed to the rising need to attain better energy efficiency and changing consumers' preference for stable and reliable wired standards for home automation systems. Wired protocols are crucial in establishing reliable and secure communication within smart home systems. They involve using physical cables to transmit data and signals between devices and components. Ethernet is a well-established wired networking protocol for local area networks (LANs). It provides high-speed data transmission and is commonly used for connecting devices that require fast and reliable internet connectivity, such as smart TVs, computers, and networked security cameras.

Have Specific Research Needs? Request a Customized Report- https://www.meticulousresearch.com/request-customization/cp_id=5029

Based on geography, the smart homes market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of around 36% of the global smart homes market. The market growth in North America is driven by the availability of smart appliances and systems in the region, greater adoption of advanced technologies, growing sense of safety and security among consumers, growing need for energy-efficient products and systems, innovation in the field of IoT devices, and presence of major players in this region.

The key players operating in the global smart homes market are Google LLC (U.S.), Apple, Inc. (U.S.), Amazon.com, Inc. (U.S.), Siemens AG (Germany), United Technologies Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Honeywell International, Inc. (U.S.), Johnson Controls International plc (Ireland), Schneider Electric SE (France), LG Electronics, Inc. (South Korea), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), ASSA ABLOY AB (Sweden), General Electric Company (U.S.), Legrand SA (France), and Sony Corporation (Japan).

Browse Sample Report Now- https://www.meticulousresearch.com/product/smart-home-market-5029

Scope of the Report:

Smart Homes Market Assessment—by Product Type

Smart Lightning Systems
Smart Speakers
Smart HVAC Control
- Smart Thermostats
- Smart Vents
- Smart Air Conditioning
Smart Security & Monitoring Systems
- Security Cameras
- Interface
- Smart Locks & Access Control
Smart Entertainment Systems
Smart Home Appliances
- Smart Washing Machines
- Smart Water Heaters
- Robotic Vacuum Cleaners
Smart Kitchen Appliances
- Smart Refrigerators
- Smart Coffee Makers
- Smart Dishwashers
- Smart Ovens
Smart Home Healthcare Systems
Smart Furniture
- Smart Sofas and Recliners
- Smart Tables & Desks

Smart Homes Market Assessment—by Protocol & Standard

Wireless Protocols
- ZigBee
- Wi-Fi
- Bluetooth
- Z-Wave
- Thread
- Enocean
Wired Protocols
- KNX
- UPB
- X10
- BACNET
- LONWORKS
- DALI
- MODBUS
- ETHERNET
Hybrid Protocols
- Insteon
- C-Bus

Smart Homes Market Assessment—by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- South Korea
- Rest of Asia-Pacific
Latin America
Middle East & Africa

Buy This Research Report (Insights, Charts, Tables, Figures and More) :- https://www.meticulousresearch.com/Checkout/96551700

Related Reports:

Smart Speaker Market Size, Share, Forecast, & Trends Analysis by Type (Display and Non-display), Audio Output Mode, Portability, Wattage, Distribution Channel (Online Retail and Offline Retail), Application (Personal Usage and Commercial Usage) - Global Forecast to 2031

Smart Lighting Market by Offering (Hardware, Software, Services), Connectivity Mode (Wired, Wireless [Bluetooth, Wi-Fi, Other], Hybrid), Application (Indoor [Residential, Commercial and Industrial], Outdoor), and Geography - Global Forecast to 2029

Smart Lock Market by Lock Type (Deadbolt, Lever Handles, Others), Connectivity, Operating Mode, Application (Access Control & Authentication, Asset Control), End User (Residential, Commercial, Others), and Geography—Global Forecast to 2029

Smart Building Market by Offering (Solution (Energy Management, Infrastructure Management, Safety & Security Management, Network Management) & Services), End User (Residential, Commercial, and Industrial) and Geography - Global Forecast to 2029

Smart Cities Market by Solution (Smart Citizen Services, Smart Environment, Smart Buildings, Smart Transportation, Smart Utilities, Other Smart Solutions), Component (Hardware, Software, Services), Technology, Geography - Global Forecast to 2030

Smart Retail Market by Offering (Hardware, Software, and Services), Technology, Application (Customer Experience Management, Supply Chain Management), End User (Supermarkets, Department Stores, Specialty Stores), and Geography - Global Forecast to 2030

Smart Energy Management Market by Energy Source (Renewable, Non-Renewable), Offering, Function (Operation, Energy Management, Distribution, Storage, Grid Security), End User (Utility Providers, Consumers), and Geography - Global Forecasts to 2029

Smart Transportation Market by Transportation Mode, Product Type (Solutions & Services), Application (Mobility as a Service, Route Information, Route Guidance, Public Transport, Transit Hubs, Connected Cars), and Region - Global Forecast to 2028

Smart Manufacturing Market Size, Share, Forecast, & Trends Analysis by Technology (Industrial IoT, AR/VR, Robotics & Automation, Blockchain), Application (Surveillance & Safety, Inventory & Warehouse Management, Quality Management), End-use Industry, and Geography - Global Forecast to 2031

Smart Factory Market Size, Share, Forecast, & Trends Analysis by Offering (Solutions, Services, Technologies), Sector (Automotive, Heavy Machinery & Tools, Aerospace & Defense, Metals & Mining, Electronics & Semiconductors, Pharmaceuticals), and Geography - Global Forecast to 2031

Smart Airports Market by Offering (Systems, Services), Application (Terminal Side (Baggage Management, Passenger Management, Resource Management, Others), Airside, Ground Side), Technology (AI, IoT, 5G, Others), and Geography - Global Forecast to 2030

Smart Mirrors Market by Offering (Hardware, Software, Services), Installation Type (Wall Mounted, Free-Styled), Application (Automotive, Healthcare, Residential, Retail, Media & Entertainment, Corporate) and Geography - Global Forecast to 2030

Smart Irrigation Market by Type (Weather Based, Soil Moisture Based) Component (Monitoring, Controlling, Connectivity, Software), Irrigation Type (Sprinkler, Drip, Surface, Pivot), End Use, and Geography - Global Forecast to 2030

Contact:

Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe: +44-203-868-8738
APAC: +91 744-7780008
Email- mailto:[email protected]
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/131/smart-home-market-2031
Meticulousblog.org | Top Market Research Reports Blog - https://meticulousblog.org/