Smart Home Automation Market Share, Growth & Forecast [2030]

Segments - Smart Home Automation Market by Technology (Wireless, Cellular, and Others), Component (Software, Hardware, and Service), Application (Lighting, Security, Entertainment, Smart Kitchen, and HVAC & Energy Management), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global smart home automation market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising value for features including the convenience of exceptional and remote operation experience offered by smart home automation.

Smart Home Automation Market Key Takeaways

Smart home automation is the use of architecture automation for several equipment and device in a home setting. A home automation system allows to monitor or control home attributes including appliances lighting and entertainment systems. It can be used for several applications including home security and surveillance purposes such as access alarm systems and control in the case of any illegal entry or trespassing of the property.

Home automation has been widely adopted due to easy access and connect to the electronic gadgets. In simple terms, the control of household items can be regulated and managed using consumer electronic devices such as smart phones and laptop through accessing the Internet. An older home security system is a one-way communication system that does not work with smart home devices. Whereas, the newer wireless security system is an advanced technology that allows two-way communication. It operates on wireless protocols including Wi-Fi, Bluetooth, Zigbee, and Z-Wave.

Market Trends, Drivers, Restraints, and Opportunities

Increasing adoption of systems for a number of applications including security, lighting, HVAC & energy management, entertainment, and smart kitchen presents a key factor driving the market.
Rising demand for the smart home automation systems to increase connectivity, convenience, and safety are boosting the market.
Growing disposable income and changing lifestyle of a large number of the population due to urbanization prove to be a major driver of the market.
High cost of the automatic system installation acts as a major challenge that can hamper the market expansion in the coming years.
Increasing access of Internet of Things (IoT) and wide penetration of consumer electronic devices such as smartphone and laptops are key factors offering lucrative growth opportunities of the market.

Scope of Smart Home Automation Market Report

The market report market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Smart Home Automation Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Technology (Wireless, Cellular, and Others), Component (Software, Hardware, and Service), and Application (Lighting, Security, Entertainment, Smart Kitchen, and HVAC & Energy Management)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Control4 Corporation; ABB Ltd.; Honeywell International Inc.; Crestron Electronics, Inc.; Johnson Controls; Ingersoll-Rand plc; Leviton Manufacturing Company, Inc.; Legrand SA; Lutron Schneider Electric; Electronics Co., Inc.; and Siemens AG.

Smart Home Automation Market Segment Insights

Wireless segment is expected to grow at a rapid pace

Based on technology, the global smart home automation market is divided into wireless, cellular, and others. The wireless segment is expected to grow at a rapid pace during the forecast period as the adoption of wireless technology is low set-up cost and more convenient to use. However, the cellular segment is anticipated to hold a key share of the market in the coming years due to wide use of the automation using the cellular devices and rising demand for technologically advanced solutions.

Service segment is projected to expand at a considerable CAGR

On the basis of component, the market is divided into software, hardware, and service. The service segment is projected to expand at a considerable CAGR during the forecast period due to wide availability of services for easy installation of automation devices and rising demand for smart services. On the other hand, the hardware segment is anticipated to account for a major market share during the forecast period due to increasing demand for advanced hardware to maintain the home environment aesthetically appealing and attractive.

Smart kitchen segment is expected to witness a significant growth rate

Based on application, the global smart home automation market is divided into lighting, security, entertainment, smart kitchen, and HVAC & energy management. The smart kitchen segment is expected to witness a significant growth rate during the forecast period due to wide adoption of the smart technology for kitchen space. The idea of smart kitchen is largely popular as the disposable income of several group of people are increasing significantly over the years. However, the entertainment segment is anticipated to hold a key share of the market in the coming years owing to rising demand for improved entertainment appliances that facilitate energy efficiency and easy home management insights.

Smart Home Automation Market By Applications

North America is anticipated to constitute a key market share

In terms of region, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to early adoption of advanced technology and presence of a large number of population for smart home designing methods. On the other hand, the market of Asia Pacific is projected to exhibit a healthy growth rate during the forecast period due to rising investments in architecture to improve standard of living and rising demand for HVAC & energy management in the region.

Segments

The global smart home automation market has been segmented on the basis of

Technology

Cellular
Wireless
Others

Component

Hardware
Software
Service

Application

Security
Lighting
Entertainment
HVAC & Energy Management
Smart Kitchen

Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Control4 Corporation
ABB Ltd.
Honeywell International Inc.
Crestron Electronics, Inc.
Johnson Controls
Ingersoll-Rand plc
Leviton Manufacturing Company, Inc.
Legrand SA
Lutron Schneider Electric
Electronics Co. Inc.
Siemens AG

Competitive Landscape

Key players competing in the global smart home automation market are Control4 Corporation; ABB Ltd.; Honeywell International Inc.; Crestron Electronics, Inc.; Johnson Controls; Ingersoll-Rand plc; Leviton Manufacturing Company, Inc.; Legrand SA; Lutron Schneider Electric; Electronics Co., Inc.; and Siemens AG. Key players have undertaking various development methods including product launch, new product developments, and collaboration to enhance their market position.

Smart Home Automation Market By Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Home Automation Market Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Smart Home Automation Market Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart Home Automation Market Market - Supply Chain
  4.5. Global Smart Home Automation Market Market Forecast
     4.5.1. Smart Home Automation Market Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Home Automation Market Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Smart Home Automation Market Market Absolute $ Opportunity
5. Global Smart Home Automation Market Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Smart Home Automation Market Market Size and Volume Forecast by Applications
     5.3.1. Security Lighting Entertainment HVAC & Energy Management Smart Kitchen
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Smart Home Automation Market Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Smart Home Automation Market Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Smart Home Automation Market Demand Share Forecast, 2019-2026
7. North America Smart Home Automation Market Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Smart Home Automation Market Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Smart Home Automation Market Market Size and Volume Forecast by Applications
     7.4.1. Security Lighting Entertainment HVAC & Energy Management Smart Kitchen
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Smart Home Automation Market Demand Share Forecast, 2019-2026
8. Latin America Smart Home Automation Market Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Smart Home Automation Market Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Smart Home Automation Market Market Size and Volume Forecast by Applications
     8.4.1. Security Lighting Entertainment HVAC & Energy Management Smart Kitchen
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Smart Home Automation Market Demand Share Forecast, 2019-2026
9. Europe Smart Home Automation Market Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Smart Home Automation Market Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Smart Home Automation Market Market Size and Volume Forecast by Applications
     9.4.1. Security Lighting Entertainment HVAC & Energy Management Smart Kitchen
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Smart Home Automation Market Demand Share Forecast, 2019-2026
10. Asia Pacific Smart Home Automation Market Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Smart Home Automation Market Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Smart Home Automation Market Market Size and Volume Forecast by Applications
     10.4.1. Security Lighting Entertainment HVAC & Energy Management Smart Kitchen
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Smart Home Automation Market Demand Share Forecast, 2019-2026
11. Middle East & Africa Smart Home Automation Market Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Smart Home Automation Market Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Smart Home Automation Market Market Size and Volume Forecast by Applications
     11.4.1. Security Lighting Entertainment HVAC & Energy Management Smart Kitchen
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Smart Home Automation Market Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Smart Home Automation Market Market: Market Share Analysis
  12.2. Smart Home Automation Market Distributors and Customers
  12.3. Smart Home Automation Market Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Control4 Corporation ABB Ltd. Honeywell International Inc. Crestron Electronics, Inc. Johnson Controls Ingersoll-Rand plc