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Smart Home Market Size, Share & Industry Analysis, By Product (Home Monitoring/Security, Smart Lighting, Entertainment, Smart Appliances, and Others (Thermostat, etc.)), and Regional Forecast, 2019-2026

Region : Global | Format: PDF | Report ID: FBI101900


Smart Home Market Analysis - 2026

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The global smart home market size stood at USD 79.90 billion in 2018 and is projected to reach USD 622.59 billion by 2026, exhibiting a CAGR of 29.3% during the forecast period.

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A smart home is an automated home setup that consists of a wide range of products including home security, smart lighting, smart entertainment, smart appliances, and others. These products are connected and controlled distantly from a mobile or any other internet enabled network devices. The products are also connected through the internet, which help users to monitor, control, and automate home functions including security access to the house, lighting, entertainment, temperature, and others. These products are equipped with advanced sensors, remote controllers, switches, and other equipment. Further, sensors, remote controllers, and other equipment are integrated with the internet of things (IoT) and artificial intelligence platforms, which offer enhanced security modes, energy efficiency, and improve smart living.

Key companies in the market, such as Honeywell International Ltd. and ABB Ltd., are focused on the introduction of automated home solutions. Other key companies are following the mergers and acquisitions strategy to develop advanced solutions for residences. For developing smart homes advanced technologies, such as artificial intelligence and the Internet of Things are implemented nowadays. Further, in April 2019, Honeywell International Ltd. merged with Intel Corporation to develop an advanced security platform for home solutions. This innovative platform is backed by the feature of artificial intelligence. Furthermore, it supports MAXPRO Video Management Systems (VMS) and Network Video Recorders (NVR) based on Intel’s advanced analytics.

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The products under home monitoring and security include smart door locks, security cameras, motion sensors, smart doorbells, and others. They are used to provide enhanced security and remote monitoring features. These devices are also used to monitor and track the activities and further activate the security system in case of an emergency. Additionally, security systems and remote monitoring are used to aid homely remote patient. Key companies in the smart home market are aiming to develop modern security solutions and reduce the theft and burglary rate worldwide. For example, according to a report by the ‘United Nations Office on Drugs and Crime’ (UNODC), around 21 million cases of theft and burglary were registered in 2016. With the deployment of smart security solutions, these numbers showcased a rapid decline by almost 12-13% as compared to the 2015 statistics.

In additional, smart lighting solutions help to control the overall ambiance of smart homes. The products under smart lighting are equipped with light, temperature, and motion detection sensors. These products are integrated with sensor-based lighting techniques that help to provide many features, namely, switching on and off, regulating the light intensity, and adjusting the schema of light in a room depending on the mood and preference of the user.

The entertainment control system in smart homes assists the user to centralize and control all the connected devices, including smart TV, speakers, and virtual assistant device. These IoT devices are capable of communicating by gathering, sending, and receiving information between each other. In smart homes, a consumers’ preference is more towards the smart TV because of the rising advancement in picture quality. Also, its smart features such as connectivity with other products/ devices (e.g. smart speakers and other controlling products) and internet connectivity makes it more preferable. Hence, the smart TV plays an important role in the smart home entertainment segment. This would support the smart home market growth in the coming years.

Smart appliances include smart refrigerators, smart air conditioners, smart washing machines, and others. These are based on IoT platform and are backed by energy control systems. Energy control system helps to manage and control the energy consumed and further optimizes the overall efficiency. Furthermore, the implementation of these advanced products will help the consumers in various applications, as IoT technology equipped products support in energy savings. They display the usage of electricity and save energy by alerting if the door of the refrigerator remains open or if the user forgets to switch off the appliances. Besides, they also automatically adjust power output depending on the usage of the appliances. Therefore, the adoption of advanced technology integrated products is rising among the consumers and it will drive the smart home market growth in the near future.


“Rising Implementation of Internet of Things (IoT) Solutions to Aid Expansion of the Market”

Internet of Things (IoT) platform is one of the most prominent global economic drivers for the smart home market. IoT based appliances offers energy-efficient capabilities at residences. Key companies are focused on the development of IoT platform and related technology (Machine Learning, Artificial Intelligence, etc.), that can be deployed in smart home products. For instance, in 2018 Cisco Systems, Inc. partnered with SAS Institute, Inc. The partnership was initiated to develop an edge-to-enterprise IoT analytics platform. This platform will help several organizations to develop residential applications based on analytics software as per different requirements.

Moreover, with the rising adoption of IoT platforms in smart appliances, market growth for home is expected to rise exponentially. According to Intel Corporation, in 2015 around 15 billion active IoT devices were registered worldwide. This number is expected to reach a market unit of around 200 billion by the end of 2020. Apart from that, the growth in the IoT will certainly help to boost the global smart home market in the near future.


“Evolution of Smart Cities Projects and Green Building Policies would be Emerging Opportunity”

Globally, several countries including China, Germany, Brazil, India, Canada, South Korea and others, are adopting green building policies. This initiative would help in creating huge opportunities for the smart home market in the coming years. It will also help in boosting the adoption of energy management smart devices including thermostats, smart meters, and smart plugs. Several initiatives and projects have been launched by the government of different regions to promote the development of green buildings. Apart from these, advancements in the data communication technology and smart city projects are some of the key emerging opportunities that would augment smart home market revenue.

According to the U.S. Green Building Council (USGBC), during 2015-2019, around 76,500 residential units have been certified worldwide, under Leadership in Energy and Environmental Design (LEED) projects. LEED projects were adopted by more than 150 countries and territories across the world.


By Product Analysis

 “Rising Adoption of Wireless Communication and Cellular Technologies to Aid Market Growth”

Based on product, the market is classified into home monitoring/security, smart lighting, entertainment, smart appliances, and others (thermostat, smart plugs, smart power strips, smart meters, etc.). Amongst them, the entertainment segment is expected to grow at a decent CAGR during the forecast period. Most of the entertainment control systems in a smart home are used for adjusting audio, video, and multimedia controls. These entertainment products are connected with smartphones with the help of networking technology to send and receive signals. Advancement in wireless communication and cellular technologies is a key factor that is boosting the growth of this segment. It will further drive the overall smart home market.

Smart appliances, including smart air conditioners, refrigerators, and washing machines, are equipped with advanced technology that helps to function smartly by offering low energy consumption features. Factors, such as significant advancement of technologies including cellular and networking technologies, internet of things (IoT) and others would drive the growth of the market. The rising need for value-based and on-demand home appliance solutions is occurring owing to the increasing adoption of cloud-based smart home solutions.

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Some of the known smart appliances solutions include Behmor connected coffee maker, GE smart countertop microwave oven, and Samsung 4-door refrigerator with family hub.

With the increasing adoption of wireless communication and cellular technologies, home solutions are equipped with advanced IoT sensors. These sensors help to collect valuable data and transfer the information to smartphones or connected devices. The information collected, further helps to assess mitigate risks and possibilities. Key companies, such as Microsoft Corporation are focused on investing and acquiring other players to enhance their product offerings. For instance, in April 2019, Microsoft Corporation acquired Express Logic, Inc. to expand its product offerings and boost IoT development, including Azure IoT Edge, Azure Digital Twins, Azure Sphere, Azure Maps, and Azure IoT Central.


In terms of region, the market is divided into North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. North America is expected to hold the largest smart home market share during the forecast period. This growth is backed by the strong presence of major players, including Honeywell International Ltd., Crestron, Amx, and Control4 Corporation, operating in this market. Also, factors such as increasing adoption of core communication technologies namely Bluetooth, NFC, Wi-Fi, Zigbee, and upcoming 5G network are boosting the growth of the market. Key companies in this region are focused on entering into strategic mergers and acquisitions to expand their business units worldwide.

  • For instance, in October 2018 Siemens AG acquired Mendix. This acquisition was meant to extend its digital innovation platform in home automation solutions worldwide. Companies in this region are also focusing on investing in developing and launching market-centric smart home solutions to capture maximum market share.

  • Additionally, in September 2018 ABB Ltd launched ABB-free home smart home solutions in the U.S.

  • Similarly, in September 2018 Honeywell International, Inc. launched ‘Honeywell Vector Space Sense’, a software solution. This solution helps to monitor and indicate the space occupied or left in a home.

Furthermore, the smart home ecosystem is expanding at the highest rate and solution providers present in the market are developing advanced products and solutions through merger & acquisition or by investing in advanced technology. In 2018, Amazon made the second-largest acquisition for smart home solutions by acquiring a startup named Ring. Ring is the provider of internet-connected cameras and doorbells.

Asia Pacific Smart Home Market Size, 2018 (USD Billion)

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APAC is predicted to grow with the highest CAGR during the projection period. The growth in this region is likely to occur on account of the increasing demand for automation solutions from the residential sector. Major players in this region are concentrating on collaborating with other prominent enterprises to develop and launch advanced smart home solutions. For instance, in September 2019 Mosaic acquired Vivint’s smart home unit. Furthermore, in developing countries such as China and India the market is expected to grow with an exceptional CAGR during the forecast period. This growth is attributable to the increasing investments by the government and private sector for smart city projects. According to various sources, the government of India is planning to invest around USD 8 billion for the development of smart cities and building projects from 2017 to 2020. Besides, the increasing number of licensed cellular IoT devices in this region would contribute to the growth. Moreover, the sources say that, licensed cellular IoT devices is expected to reach around 3.1 billion by the end of 2025.

In Europe, the market growth is considerably driven by the increasing expansion of small startups and rising investment by major companies in countries, such as Germany, the U.K., France, and others. This growth is stoked by the rising demand for smart security and monitoring solutions in this region. These factors will help in the development of the market, thus fostering the smart home market growth and size globally. For instance, in August 2018, Blue Line Innovations, Inc. launched the ‘Energy Cloud platform.’ This platform is mainly deployed in the residential and light commercial applications. Similarly, in August 2018 Centrica plc invested around USD 18 million for the development of smart home projects.

Market growth in the MEA and Latin America is expected to grow with a gradual CAGR. This ongoing growth is likely to occur because of the increasing initiatives and investments done by the governments and local players. Increasing construction of luxurious villas and buildings as well as the growing demand for smart security solutions are projected to aid the market growth in this region in the near future. Several government initiatives including Smart Dubai, smart UAE, and others are aiding the smart house market size in these regions. Coupled with this, the dominant players in these regions are aiming to develop and launch their smart home products in the coming years. For instance, in 2016 Cielo WiGle a United States-based smart home products manufacturer, completed an agreement with Advanced Technology and Services, a Saudi Arabia-based IT services company. This agreement was made to offer the company's smart home products in the MEA.


"Key Players Including General Electric, Samsung Group, Honeywell International, Amongst Others Are Focused Towards Developing Advanced Security And Monitor Energy Usage Solutions”

Our study suggests that Samsung, Ericsson, General Electric, Schneider Electric SE, Honeywell International amongst others are the key players in the market and are capturing major market share. The companies are investing in R&D to provide advanced solutions and services to its customers.

Other players in the market are also introducing advanced home solutions which would further support the market growth. These advanced solutions are aimed towards improving comfort, energy usage and security. Also, introduction of smart apps is strengthening connectivity to improve security and energy usage.

List Of Key Companies Profiled:

  • ABB Ltd.

  • Assa Abloy

  • Centrica Connected Home Limited

  • Control4 Corporation

  • Crestron Electronics

  • Emerson Electric Co.

  • General Electric Company

  • Honeywell International

  • Johnson Controls, Inc.

  • Samsung Group

  • Schneider Electric SE

  • Sony Corporation


The report presents a comprehensive assessment of the global smart home market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per the market segments, helping our readers to get a comprehensive overview of the global market.

An Infographic Representation of Smart Home Market

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Report Scope & Segmentation



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD billion)


By Product

  • Home Monitoring/Security

    • Security Cameras

    • Smart Door locks

    • Others (Storage Devices, Servers, Doorbells, etc.)

  • Smart Lighting

  • Entertainment

    • Speakers/Soundbars

    • Voice Assistant

    • Smart TV/Projectors/Monitors

    • Wearable

    • Others (Smart Remote etc.)

  • Smart Appliances

    • Smart Refrigerators

    • Smart Air Conditioners

    • Others (Smart Vacuum Cleaners, Washing Machines etc.)

  • Others (Thermostat, etc.)

By Region

  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Spain, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

  • Latin America (Brazil, Mexico, and Rest of Latin America)


  • December 2017 – Motorola Solutions acquired Avigilon a Vancouver-based company. This acquisition was completed to develop advanced surveillance cameras & video analytics solutions for smart homes.

  • September 2016 – Google launched Google Home, a set of speakers. This speaker helps the user to control their home’s environment simply with voice command.

Frequently Asked Questions

Fortune Business Insights says that the smart home market was valued at USD 79.90 billion in 2018.

In 2026, the smart home is expected to reach a value of USD 622.59 billion.

The global smart home market will grow steadily at a CAGR of 29.3%.

The smart home market in Asia Pacific was valued at USD 13.28 billion in 2018.

Within the products criteria, the entertainment segment is expected to lead the smart home market during the forecast period.

Rising adoption of wireless communication and cellular technologies and increasing implementation of the internet of things-based home appliances are the key smart home market drivers.

Honeywell International, ABB Ltd, Control4 Corporation, General Electric Company, and Samsung Group are the top players in the smart home market.

The major players in the smart home market hold approximately 40-45% of the market owing to their strong product portfolio and robust brand image.

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Smart Home Market Size, Share and Global Industry Trend Forecast till 2026
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