Market Insights Report
This report from the series of Digital Market Insights reports gives an overview of the Smart Home market from an international perspective. The Smart Home market constitutes the sale of networked devices and related services that enable home automation for private end users (B2C). Considered are devices that are connected directly or indirectly to the Internet. Their main purpose is the controlling, monitoring and regulating functions in a private household. The worldwide revenue of US$134.8 billion in 2023 is expected to increase to US$231.6 billion by 2028.
What's included?
The Internet of Things (IoT) is one of the hot topics when it comes to digitalization and disruptive changes to traditional industries. The globally rising number of connected sensors leads to more and more data. With the use of smart algorithms such as machine learning tools, this data can be used to control actuators. These sensors and actuators are what we generally call IoT. The IoT in the content of private households are what we call a Smart Home. The possibilities to automate processes in the domestic context are almost countless. The report covers the whole Smart Home market which includes Smart Appliances, Security, Control and Connectivity, Home Entertainment, Energy Management as well as Comfort and Lighting. Considered are all devices that are connected directly or indirectly to the Internet. The remote control and monitoring of individual devices and, if applicable, their direct communication with one another, is an essential component of intelligent home automation. Therefore, services which are necessary for the maintenance or control of the household network are also considered, e.g. subscription fees for control apps or external monitoring services. This report from the series of Digital Market Insights reports gives an overview of the Smart Home market from an international perspective.
Smart Home overview
Smart Home Overview
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