Smart Home Automation Market Size and Share Forecast Outlook (2022 to 2032)

The global smart home automation market is estimated to grow from USD 72 Billion in 2022 to USD 168 Billion in 2032 while displaying a CAGR of 8.84% during the 2022 to 2032 period. Increasing penetration of the Internet of Things (IoT) has evolved the machine to machine communication which has motivated users to adopt smart home automation technology.

Data Points Key Statistics
Smart Home Automation Market CAGR (2022 to 2032) 8.84%
Smart Home Automation Market Value (2022) USD 72 Billion
Smart Home Automation Market Value (2032) USD 168 Billion
Smart Home Automation Market Driver Innovative smart devices offer safety, convenience, efficient energy saving, and lower utility cost products, which is expected to benefit the smart home automation market during the forecast period.
  • Smart homes can do complex functions, such as automatically lighting evacuation pathways in the case of a fire alert.
  • The benefit of a smart home automation system is that it enables the customer to remotely monitor their entire home.
  • There is more flexibility and lower installation and retrofitting costs.
  • Users with remote access to home accessories can control their home appliances while they are away.

Advanced Technology Adoption Driving Smart Home Automation in the U.S.

The United States is expected to emerge as the leading country during the predicted period. The country's preference for modern technologies such as artificial intelligence and the internet of things, along with increased disposable income, boosts demand for smart technologies. Many startups are sprouting in the region, adding to the market's growth. As a result, the market in North America is predicted to expand considerably throughout the forthcoming years.

Asia Pacific Leads Global Smart Home Automation Demand

The Asia Pacific is predicted to rise rapidly throughout the projection period due to increased expenditure on smart technologies. Owing to the dominance of important smart device makers, China is likely to monopolize the region's share. Due to increased demand for automated solutions, India is likely to grow at a high CAGR throughout the upcoming years.

Growing Spending Power in Europe Supporting Smart Home Market

The European market for smart home automation is predicted to be the second-largest. This can be attributable to rising disposable income and increased product availability at reasonable rates. The region has seen a considerable increase in the number of powerful market participants over the years. Various government regulations in European nations include the implementation of smart lodging technologies due to their sustainable environmental effects and power-efficient solutions.

Companies Shaping the Future of Smart Home Automation

Manufacturers are embarking on a high-bandwidth wireless protocol with extremely low power consumption and latency. This enables demanding applications such as wireless VR and IoT. These technologies are required for smart house operations. Furthermore, when combined with energy harvesting technologies used in smart homes, important participants in smart home automation prolong the battery life of gadgets and enable the battery-free functioning of wireless devices such as sensors.

With a wide range of address security solutions, leading firms provide continuous end-to-end protection to all appliances and other elements. It includes hazards like infiltration, theft, gas leaks, and fire warnings. Companies are also producing an AI-powered safety gadget that detects people without masks in neighboring buildings.

Smart homes confront new security risks as automation and communication technologies improve. Smart sensors and smart surveillance are used by various vendors to prevent theft. They are working on motion, touch, and fire sensors, as well as presence detectors. Due to the networked gadgets in smart homes, cybersecurity is an essential component of home automation. These technologies provide homeowners with peace of mind that their house is safe from outside and internet intruders.

Home automation technology, by providing features such as artificial lighting, temperature settings, and safety considerations, naturally makes your life simpler. With the new technology, entrepreneurs have introduced a touchscreen smart thermostat with a two-wire retrofit design that also delivers smart automation features such as ideal comfort, lighting effects, appropriateness, and energy savings.

Startups are developing a wireless, communicative door striking. It connects with other smart devices in the home environment by utilizing smart home connectivity technologies. It interfaces through Bluetooth Low Energy (BLE) and Z-Wave wireless technologies. The locks may be operated remotely using a smartphone app. This allows homeowners to provide access to others at certain periods and receive real-time notifications with a record of house access.

Key Growth Drivers in the Global Smart Home Automation Market

Growing Inclination of Consumers toward Smart Home Technology to Strengthen the Market

Smart technology is penetrating various industries and transforming the home automation system landscape. With the introduction of smart technology like self-diagnosing equipment, smart entertainment, modern self-health care, and smart kitchen, among others, automation is developing significantly.

Integration of modern technologies such as IoT, AI, and ML, the demand for smart devices is expected to rise in the coming time. According to a Voicbot.ai survey, in January 2020, about 87.7 million US consumers were using smart speakers. The significant figure of such consumers shows the growing inclination of consumers toward the adoption of smart home automation technology. Further, smart city projects are growing in number across the globe, surging the demand for home automation businesses.

With access to home accessories from remote locations, users can regulate their home appliances in their absence. They can also keep a watch on any activity taking place within the house through video surveillance systems. For instance, in February 2022, India-based home automation company, One Switch, announced the launch of franchising options for the expansion of their smart home automation services. The eco-friendly solutions such as automatic water sensors and motion sensors, offered by smart home companies like One Switch, have also helped in reducing electricity bills and enhancing the overall home environment. Attributed to such factors, the smart home automation market is expected to augment the smart home automation market size during the forecast period.

Key Challenges in the Smart Home Automation Market

Expensive Products and Limited Knowledge Regarding the Technology to Hinder the Market Growth

Automation tools and equipment are expensive, thus, users with average or below average disposable income find it challenging to buy such modern services. Due to its high cost, there is polarization in the procurement of such advanced equipment. Thus, the cost barrier is anticipated to play a significant role in limiting the market growth during the forecast period. Further, various users are yet not well familiar with such technology which limits the adoption of smart home automation devices. Thus, the complicated technologies and applications are likely to inhibit the market growth in the assessment period.

However, increasing implementation of smart TV, light automation, face recognition doorbells, smart nurseries, and video monitoring, owing to a number of benefits offered by these is expected to act as a significant counter to the smart home automation market during the forecast period, and magnify the market size.

Opportunities Emerging in the Global Smart Home Automation Space

Increasing Innovative Property Security System to act as an opportunity for the Market

Players in the market are making a significant investment in developing innovative and advanced smart security systems to meet the growing security demands of the consumers, which is expected to act as a significant opportunity for the smart home automation market in the forthcoming period.

In August 2020, Hero Electronix launched a wide range of address security systems under Qubo Shield to offer continuous end-to-end security to all appliances and other aspects. It covers threats like theft, gas leak, fire alert, intrusion, and others. The company also launched AI-based safety equipment to detect persons without masks on the nearby premises.

The adoption of smart doorbells with video and audio, AI-based biometric, and face recognition capabilities is rising, which will provide high dividends to the market in the forecast period.

Top Segments Studied in the Smart Home Automation Market

Which Application accounts for Bulk of Smart Home Automation Deployment?

Smart Home Automation for Entertainment to experience significant Upsurge

Based on application, the market can be segmented into lighting, security, HVAC & energy management, entertainment, and smart kitchen. As per the analysis, the entertainment segment is anticipated to dominate the market during the forecast period. According to Future Market Insights, a CAGR worth 7.8% is anticipated for the segment. Growth can be attributed to the increasing efforts of manufacturers to offer connected home entertainment products through smart technologies such as smart speakers to augment the entertainment experience. Such innovations are likely to benefit the segment growth in the forecast period.

In May 2019, Samsung Electronics Co., Ltd. announced that all 2019 Samsung Smart TVs and select 2018 TV models would feature the recently launched Apple TV app and offer AirPlay 2 support in over 100 countries. This would allow its consumers to enjoy Apple TV channels and iTunes TV shows and movies on Samsung smart TVs. Such initiatives are expected to benefit the segmental growth during the forecast period.

Based on Technology, which Category is likely to emerge Dominant in the Market?

Wireless Smart Home Automation to take the Cake

By technology, wireless smart home automation is expected to take centerstage, accumulating a revenue share worth 44% in 2022. As per FMI’s report, the segment is further poised to grow at a CAGR of 7.6% across the forecast period ranging from 2022 to 2032. Advancements in connectivity is attributed as the chief market growth accelerator.

Given that wireless technologies are far less invasive, their uptake across homes is rising rapidly. Furthermore, wireless automation is far more economical in terms of power consumption and cost. For instance, a basic smart home installation would typically cost between 2-6% of one’s property value, which is far lesser compared to a conventional wired home.

Regional Insights in the Smart Home Automation Industry

What is the Role of North America in Developing the Global Smart Home Automation Market?

Growing Inclination toward Advanced Technologies to Boost the Smart Home Automation Market in North America

As per the analysis, North America is anticipated to dominate the global smart home automation market during the forecast period, registering a CAGR worth 8% from 2022 to 2032. Domination of the market can be attributed to the increasing inclination of the region towards the adoption of advanced technologies such as AI, IoT, and ML.

The increasing collaborations among players in the region are expected to benefit the regional market during the forecast period. For instance, in August 2020, ADT Inc. announced a long-term partnership with Google LLC to provide smart home security solutions across the United States. Further, Google has invested USD 450 Million in ADTC Inc., in order to increase the smart home security solutions. Thus, the market in North America is expected to grow significantly during the forecast period.

What is the Contribution of Europe to Expanding the Global Smart Home Automation Market?

Increasing Disposable Income in Europe to Drive the Regional Market

As per the analysis, the market for smart home automation in Europe is expected to be the second-largest, expected to flourish at a 7.7% CAGR from 2022 to 2032. This can be attributed to the increasing disposable income and product availability at affordable prices.

Furthermore, renowned players of the region are increasing their product portfolios to meet the needs of consumers in various application areas within households, including water conservation, and security.

Germany is anticipated to be the fastest-growing country in the region. As per a survey conducted by a German industry group Bitkom, 41% of all Germans had at least one smart home device installed in 2021. Such factors are expected to benefit the regional market growth during the forecast period.

How is Asia Pacific driving the Global Smart Home Automation Market Growth?

Presence of Developing Countries to Augment the Regional Market Size

According to the study, the Asia Pacific smart home automation market is expected to grow at a CAGR of 7.5% during the forecast period ranging from 2022 to 2032. This can be attributed to the presence of developing countries such as India and China.

China is expected to dominate the regional market due to the presence of established smart device manufacturers. And, India is likely to gain rapid CAGR during the assessment period owing to the rising demand for automated solutions.

Furthermore, globally established players in the region are collaborating with regional players, which will drive the market growth. For instance, in April 2021, Schneider Electric collaborated with India-based home renovator, Livespace. Thus, the market in APAC is expected to flourish significantly during the forecast period.

Start-up Innovations Transforming the Smart Home Automation Market

Given the ever-increasing scope of automation in homes, prominent service providers are seizing this opportunity to introduce highly advanced and seamless automation solutions, factoring in the cost associated with installing such systems. Furthermore, various start-ups offering smart home automation solutions have acquired importance in the past few years. Some notable start-ups in this space are as follows:

Start-Up Alarm.com
Origin United States
Year of Establishment 2000
Start-Up Netatmo
Origin France
Year of Establishment 2011
Start-Up Nest
Origin United States
Year of Establishment 2010
Start-Up Notion
Origin United States
Year of Establishment 2013
Start-Up Ajax Systems
Origin United States
Year of Establishment 2011
Start-Up iDevices
Origin United States
Year of Establishment 2010
Start-Up Caavo
Origin United States
Year of Establishment 2015
Start-Up Unified Remote
Origin Sweden
Year of Establishment 2010
Start-Up Bond Home
Origin United States
Year of Establishment 2016
Start-Up Xped
Origin Australia
Year of Establishment 2006

In August 2021, Alarm.com introduced Ambient Insights for alarm response, a solution which recognizes activity around a property and delivers contextual information to monitoring stations in the event of an alarm. The stations can use this real-time data to prioritize alarms and dispatch police, fire or emergency medical services to properties faster. The platforms further allows for a wider range of emergencies and reduces dispatches for false alarms

  • In June 2022, Ajax Systems has entered the Australian market by forging a partnership with NAS Australia. The latter is a cutting-edge TV reception, custom installation and security products wholesaler. Through this agreement, NAS Australia will be able to provide Ajax professional security systems to Australian clients.

Competitive Landscape of the Global Smart Home Automation Market

Key players in the global smart home automation market include Control4 Corporation (USA), BB Ltd. (Switzerland), Crestron Electronics, Inc. (USA), Ingersoll-Rand plc (Ireland), Honeywell International Inc. (USA), Johnson Controls (USA), Leviton Manufacturing Company, Inc. (USA), Legrand SA (France), Lutron Electronics Co., Inc. (USA), Schneider Electric (France), and Siemens AG (Germany).

Recent Developments in the Industry include

  • In July 2022, Schneider Electric launched the Wiser App to create awareness about the potential of Wiser Smart Homes. The app requires minimal rewiring and has the ability to support Google Home Assistant and Alexa which offers the needed comfort to consumers on a regular basis.
  • In July 2020, Johnson Controls, a renowned player for smart and sustainable buildings, launched OpenBlue, a complete suite of connected solutions and services that combine the Company’s 135 years of building experience with modern technology. The new suite of connected solutions allows previously unimaginable occupant experiences, respectful safety and security, and impactful sustainability, driven by cutting-edge connected technology.

Scope and Coverage of the Smart Home Automation Market Report

Report Attributes Details
Growth Rate CAGR of 8.84% from 2022 to 2032
Market Value in 2022 USD 72 Billion
Market Value in 2032 USD 168 Billion
Base Year for Estimation 2021
Historical Data 2017 to 2021
Forecast Period 2022 to 2032
Quantitative Units USD Billion for Value
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered Component, Technology, Application, Region
Regions Covered North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Key Countries Profiled USA, Canada, Mexico, Brazil, Germany, France, Italy, UK, China, Japan, South Korea, India, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel
Key Companies Profiled ABB Ltd.; Control4 Corporation; Crestron Electronics Inc.; Honeywell International Inc.; Ingersoll Rand Plc.; Johnson Controls; Legrand SA; Leviton Manufacturing Company Inc.; Lutron Electronics Co. Ltd.; Schneider Electric; Siemens AG
Report Customization & Pricing Available upon Request

Top Segments Profiled in the Smart Home Automation Market

Smart Home Automation Market by Component:

  • Smart Home Automation Hardware
  • Smart Home Automation Software
  • Smart Home Automation Services

Smart Home Automation Market by Technology:

  • Cellular Smart Home Automation
  • Wireless Smart Home Automation
  • Other Smart Home Automation Technologies

Smart Home Automation Market by Application:

  • Smart Home Automation for Security
  • Smart Home Automation for Lighting
  • Smart Home Automation for Entertainment
  • Smart Home Automation for HVAC & Energy Management
  • Smart Home Automation for Smart Kitchens

Smart Home Automation Market by Region:

  • North America Smart Home Automation Market
  • Europe Smart Home Automation Market
  • Asia Pacific Smart Home Automation Market
  • Latin America Smart Home Automation Market
  • Middle East & Africa Smart Home Automation Market

Table of Content

  • 1. Global Market - Executive Summary
  • 2. Global Market Overview
  • 3. Market Background and Foundation Data Points
  • 4. Global Market Demand (USD Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032
  • 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component
    • 5.1. Hardware
    • 5.2. Software
    • 5.3. Services
  • 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Technology
    • 6.1. Cellular
    • 6.2. Wireless
    • 6.3. Others
  • 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application
    • 7.1. Security
    • 7.2. Lighting
    • 7.3. Entertainment
    • 7.4. HVAC & Energy Management
    • 7.5. Smart Kitchens
  • 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
    • 8.1. North America
    • 8.2. Latin America
    • 8.3. Europe
    • 8.4. Asia Pacific
    • 8.5. Middle East and Africa (MEA)
  • 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
  • 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
  • 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
  • 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032
  • 13. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
  • 14. Market Structure Analysis
  • 15. Competition Analysis
    • 15.1. ABB Ltd.
    • 15.2. Control4 Corporation
    • 15.3. Crestron Electronics Inc.
    • 15.4. Honeywell International Inc.
    • 15.5. Ingersoll Rand Plc.
    • 15.6. Johnson Controls
    • 15.7. Legrand SA
    • 15.8. Leviton Manufacturing Company Inc.
    • 15.9. Lutron Electronics Co. Ltd.
    • 15.10. Siemens AG
    • 15.11. Schneider Electric
  • 16. Assumptions And Acronyms Used
  • 17. Research Methodology

List of Tables

Table 1: Global Market Value (US$ Mn) Analysis, by Component, 2017-2021

Table 2: Global Market Value (US$ Mn) Analysis, by Component, 2022-2032

Table 3: Global Market Value (US$ Mn) Opportunity Analysis, by Component, 2022-2032

Table 4: Global Market Value (US$ Mn) Analysis, by Technology, 2017-2021

Table 5: Global Market Value (US$ Mn) Analysis, by Technology, 2022-2032

Table 6: Global Market Value (US$ Mn) Opportunity Analysis, by Technology, 2022-2032

Table 7: Global Market Value (US$ Mn) Analysis, by Application, 2017-2021

Table 8: Global Market Value (US$ Mn) Analysis, by Application, 2022-2032

Table 9: Global Market Value (US$ Mn) Opportunity Analysis, by Application, 2022-2032

Table 10: Global Market Value (US$ Mn) Analysis, by Region, 2017-2021

Table 11: Global Market Value (US$ Mn) Analysis, by Region, 2022-2032

Table 12: Global Market Value (US$ Mn) Opportunity Analysis, by Region, 2022-2032

Table 13: North America Market Value (US$ Mn) Analysis, by Country, 2017-2021

Table 14: North America Market Value (US$ Mn) Analysis, by Country, 2022-2032

Table 15: North America Market Value (US$ Mn) Opportunity Analysis, by Country, 2022-2032

Table 16: North America Market Value (US$ Mn) Analysis, by Component, 2017-2021

Table 17: North America Market Value (US$ Mn) Analysis, by Component, 2022-2032

Table 18: North America Market Value (US$ Mn) Opportunity Analysis, by Component, 2022-2032

Table 19: North America Market Value (US$ Mn) Analysis, by Technology, 2017-2021

Table 20: North America Market Value (US$ Mn) Analysis, by Technology, 2022-2032

Table 21: North America Market Value (US$ Mn) Opportunity Analysis, by Technology, 2022-2032

Table 22: North America Market Value (US$ Mn) Analysis, by Application, 2017-2021

Table 23: North America Market Value (US$ Mn) Analysis, by Application, 2022-2032

Table 24: North America Market Value (US$ Mn) Opportunity Analysis, by Application, 2022-2032

Table 25: Latin America Market Value (US$ Mn) Analysis, by Country, 2017-2021

Table 26: Latin America Market Value (US$ Mn) Analysis, by Country, 2022-2032

Table 27: Latin America Market Value (US$ Mn) Opportunity Analysis, by Country, 2022-2032

Table 28: Latin America Market Value (US$ Mn) Analysis, by Component, 2017-2021

Table 29: Latin America Market Value (US$ Mn) Analysis, by Component, 2022-2032

Table 30: Latin America Market Value (US$ Mn) Opportunity Analysis, by Component, 2022-2032

Table 31: Latin America Market Value (US$ Mn) Analysis, by Technology, 2017-2021

Table 32: Latin America Market Value (US$ Mn) Analysis, by Technology, 2022-2032

Table 33: Latin America Market Value (US$ Mn) Opportunity Analysis, by Technology, 2022-2032

Table 34: Latin America Market Value (US$ Mn) Analysis, by Application, 2017-2021

Table 35: Latin America Market Value (US$ Mn) Analysis, by Application, 2022-2032

Table 36: Latin America Market Value (US$ Mn) Opportunity Analysis, by Application, 2022-2032

Table 37: Europe Market Value (US$ Mn) Analysis, by Country, 2017-2021

Table 38: Europe Market Value (US$ Mn) Analysis, by Country, 2022-2032

Table 39: Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2022-2032

Table 40: Europe Market Value (US$ Mn) Analysis, by Component, 2017-2021

Table 41: Europe Market Value (US$ Mn) Analysis, by Component, 2022-2032

Table 42: Europe Market Value (US$ Mn) Opportunity Analysis, by Component, 2022-2032

Table 43: Europe Market Value (US$ Mn) Analysis, by Technology, 2017-2021

Table 44: Europe Market Value (US$ Mn) Analysis, by Technology, 2022-2032

Table 45: Europe Market Value (US$ Mn) Opportunity Analysis, by Technology, 2022-2032

Table 46: Europe Market Value (US$ Mn) Analysis, by Application, 2017-2021

Table 47: Europe Market Value (US$ Mn) Analysis, by Application, 2022-2032

Table 48: Europe Market Value (US$ Mn) Opportunity Analysis, by Application, 2022-2032

Table 49: Asia Pacific Market Value (US$ Mn) Analysis, by Country, 2017-2021

Table 50: Asia Pacific Market Value (US$ Mn) Analysis, by Country, 2022-2032

Table 51: Asia Pacific Market Value (US$ Mn) Opportunity Analysis, by Country, 2022-2032

Table 52: Asia Pacific Market Value (US$ Mn) Analysis, by Component, 2017-2021

Table 53: Asia Pacific Market Value (US$ Mn) Analysis, by Component, 2022-2032

Table 54: Asia Pacific Market Value (US$ Mn) Opportunity Analysis, by Component, 2022-2032

Table 55: Asia Pacific Market Value (US$ Mn) Analysis, by Technology, 2017-2021

Table 56: Asia Pacific Market Value (US$ Mn) Analysis, by Technology, 2022-2032

Table 57: Asia Pacific Market Value (US$ Mn) Opportunity Analysis, by Technology, 2022-2032

Table 58: Asia Pacific Market Value (US$ Mn) Analysis, by Application, 2017-2021

Table 59: Asia Pacific Market Value (US$ Mn) Analysis, by Application, 2022-2032

Table 60: Asia Pacific Market Value (US$ Mn) Opportunity Analysis, by Application, 2022-2032

Table 61: MEA Market Value (US$ Mn) Analysis, by Country, 2017-2021

Table 62: MEA Market Value (US$ Mn) Analysis, by Country, 2022-2032

Table 63: MEA Market Value (US$ Mn) Opportunity Analysis, by Country, 2022-2032

Table 64: MEA Market Value (US$ Mn) Analysis, by Component, 2017-2021

Table 65: MEA Market Value (US$ Mn) Analysis, by Component, 2022-2032

Table 66: MEA Market Value (US$ Mn) Opportunity Analysis, by Component, 2022-2032

Table 67: MEA Market Value (US$ Mn) Analysis, by Technology, 2017-2021

Table 68: MEA Market Value (US$ Mn) Analysis, by Technology, 2022-2032

Table 69: MEA Market Value (US$ Mn) Opportunity Analysis, by Technology, 2022-2032

Table 70: MEA Market Value (US$ Mn) Analysis, by Application, 2017-2021

Table 71: MEA Market Value (US$ Mn) Analysis, by Application, 2022-2032

Table 72: MEA Market Value (US$ Mn) Opportunity Analysis, by Application, 2022-2032

List of Figures

Figure 1: Global Market Value (US$ Mn) Historical Analysis, 2017-2021

Figure 2: Global Market Value (US$ Mn) Forecast and Analysis, 2022-2032

Figure 3: Global Market Value Y-o-Y Growth and Forecast, 2017-2032

Figure 4: Global Market Incremental $ Opportunity, 2022-2032

Figure 5: Global Market Share and BPS Analysis by Component, 2022 & 2032

Figure 6: Global Market Y-o-Y Growth Projections by Component, 2022-2032

Figure 7: Global Market Attractiveness Analysis by Component, 2022-2032

Figure 8: Global Market Share and BPS Analysis by Technology, 2022 & 2032

Figure 9: Global Market Y-o-Y Growth Projections by Technology, 2022-2032

Figure 10: Global Market Attractiveness Analysis by Technology, 2022-2032

Figure 11: Global Market Share and BPS Analysis by Application, 2022 & 2032

Figure 12: Global Market Y-o-Y Growth Projections by Application, 2022-2032

Figure 13: Global Market Attractiveness Analysis by Application, 2022-2032

Figure 14: Global Market Share and BPS Analysis by Region, 2022 & 2032

Figure 15: Global Market Y-o-Y Growth Projections by Region, 2022-2032

Figure 16: Global Market Attractiveness Analysis by Region, 2022-2032

Figure 17: North America Market Value (US$ Mn) Historical Analysis, 2017-2021

Figure 18: North America Market Value (US$ Mn) Forecast and Analysis, 2022-2032

Figure 19: North America Market Value Y-o-Y Growth and Forecast, 2032

Figure 20: North America Market Incremental $ Opportunity, 2022-2032

Figure 21: North America Market Share Analysis by Country, 2022 & 2032

Figure 22: North America Market Y-o-Y Growth Projection by Country, 2022-2032

Figure 23: North America Market Attractiveness Analysis by Country, 2022-2032

Figure 24: North America Market Share and BPS Analysis by Component, 2022 & 2032

Figure 25: North America Market Y-o-Y Growth Projections by Component, 2022-2032

Figure 26: North America Market Attractiveness Analysis by Component, 2022-2032

Figure 27: North America Market Share and BPS Analysis by Technology, 2022 & 2032

Figure 28: North America Market Y-o-Y Growth Projections by Technology, 2022-2032

Figure 29: North America Market Attractiveness Analysis by Technology, 2022-2032

Figure 30: North America Market Share and BPS Analysis by Application, 2022 & 2032

Figure 31: North America Market Y-o-Y Growth Projections by Application, 2022-2032

Figure 32: North America Market Attractiveness Analysis by Application, 2022-2032

Figure 33: Latin America Market Value (US$ Mn) Historical Analysis, 2017-2021

Figure 34: Latin America Market Value (US$ Mn) Forecast and Analysis, 2022-2032

Figure 35: Latin America Market Value Y-o-Y Growth and Forecast, 2017-2032

Figure 36: Latin America Market Incremental $ Opportunity, 2022-2032

Figure 37: Latin America Market Share Analysis by Country, 2022 & 2032

Figure 38: Latin America Market Y-o-Y Growth Projection by Country, 2022-2032

Figure 39: Latin America Market Attractiveness Analysis by Country, 2022-2032

Figure 40: Latin America Market Share and BPS Analysis by Component, 2022 & 2032

Figure 41: Latin America Market Y-o-Y Growth Projections by Component, 2022-2032

Figure 42: Latin America Market Attractiveness Analysis by Component, 2022-2032

Figure 43: Latin America Market Share and BPS Analysis by Technology, 2022 & 2032

Figure 44: Latin America Market Y-o-Y Growth Projections by Technology, 2022-2032

Figure 45: Latin America Market Attractiveness Analysis by Technology, 2022-2032

Figure 46: Latin America Market Share and BPS Analysis by Application, 2022 & 2032

Figure 47: Latin America Market Y-o-Y Growth Projections by Application, 2022-2032

Figure 48: Latin America Market Attractiveness Analysis by Application, 2022-2032

Figure 49: Europe Market Value (US$ Mn) Historical Analysis, 2017-2021

Figure 50: Europe Market Value (US$ Mn) Forecast and Analysis, 2022-2032

Figure 51: Europe Market Value Y-o-Y Growth and Forecast, 2017-2032

Figure 52: Europe Market Incremental $ Opportunity, 2022-2032

Figure 53: Europe Market Share Analysis by Country, 2022 & 2032

Figure 54: Europe Market Y-o-Y Growth Projection by Country, 2022-2032

Figure 55: Europe Market Attractiveness Analysis by Country, 2022-2032

Figure 56: Europe Market Share and BPS Analysis by Component, 2022 & 2032

Figure 57: Europe Market Y-o-Y Growth Projections by Component, 2022-2032

Figure 58: Europe Market Attractiveness Analysis by Component, 2022-2032

Figure 59: Europe Market Share and BPS Analysis by Technology, 2022 & 2032

Figure 60: Europe Market Y-o-Y Growth Projections by Technology, 2022-2032

Figure 61: Europe Market Attractiveness Analysis by Technology, 2022-2032

Figure 62: Europe Market Share and BPS Analysis by Application, 2022 & 2032

Figure 63: Europe Market Y-o-Y Growth Projections by Application, 2022-2032

Figure 64: Europe Market Attractiveness Analysis by Application, 2022-2032

Figure 65: Asia Pacific Market Value (US$ Mn) Historical Analysis, 2017-2021

Figure 66: Asia Pacific Market Value (US$ Mn) Forecast and Analysis, 2022-2032

Figure 67: Asia Pacific Market Value Y-o-Y Growth and Forecast, 2017-2032

Figure 68: Asia Pacific Market Incremental $ Opportunity, 2022-2032

Figure 69: Asia Pacific Market Share Analysis by Country, 2022 & 2032

Figure 70: Asia Pacific Market Y-o-Y Growth Projection by Country, 2022-2032

Figure 71: Asia Pacific Market Attractiveness Analysis by Country, 2022-2032

Figure 72: Asia Pacific Market Share and BPS Analysis by Component, 2022 & 2032

Figure 73: Asia Pacific Market Y-o-Y Growth Projections by Component, 2022-2032

Figure 74: Asia Pacific Market Attractiveness Analysis by Component, 2022-2032

Figure 75: Asia Pacific Market Share and BPS Analysis by Technology, 2022 & 2032

Figure 76: Asia Pacific Market Y-o-Y Growth Projections by Technology, 2022-2032

Figure 77: Asia Pacific Market Attractiveness Analysis by Technology, 2022-2032

Figure 78: Asia Pacific Market Share and BPS Analysis by Application, 2022 & 2032

Figure 79: Asia Pacific Market Y-o-Y Growth Projections by Application, 2022-2032

Figure 80: Asia Pacific Market Attractiveness Analysis by Application, 2022-2032

Figure 81: MEA Market Value (US$ Mn) Historical Analysis, 2017-2021

Figure 82: MEA Market Value (US$ Mn) Forecast and Analysis, 2022-2032

Figure 83: MEA Market Value Y-o-Y Growth and Forecast, 2017-2032

Figure 84: MEA Market Incremental $ Opportunity, 2022-2032

Figure 85: MEA Market Share Analysis by Country, 2022 & 2032

Figure 86: MEA Market Y-o-Y Growth Projection by Country, 2022-2032

Figure 87: MEA Market Attractiveness Analysis by Country, 2022-2032

Figure 88: MEA Market Share and BPS Analysis by Component, 2022 & 2032

Figure 89: MEA Market Y-o-Y Growth Projections by Component, 2022-2032

Figure 90: MEA Market Attractiveness Analysis by Component, 2022-2032

Figure 91: MEA Market Share and BPS Analysis by Technology, 2022 & 2032

Figure 92: MEA Market Y-o-Y Growth Projections by Technology, 2022-2032

Figure 93: MEA Market Attractiveness Analysis by Technology, 2022-2032

Figure 94: MEA Market Share and BPS Analysis by Application, 2022 & 2032

Figure 95: MEA Market Y-o-Y Growth Projections by Application, 2022-2032

Figure 96: MEA Market Attractiveness Analysis by Application, 2022-2032

Frequently Asked Questions

What is the expected market value of the smart home automation market in 2022?

The global smart home automation market is expected to secure USD 72 Billion in 2022

What is the anticipated CAGR of the smart home automation market until 2032?

The smart home automation market is projected to display a CAGR of 8.84% from 2022 to 2032

What is the expected forecast value for the market for smart home automation in 2032?

By 2032, the smart home automation market is poised to reach a valuation of USD 168 Billion

By application, which category will likely make most of the smart home automation market?

Based on application, smart home automation for entertainment is expected to experience fastest growth, at a CAGR of 7.8%

Which smart home technology is expected to be the highest revenue grosser?

Wireless smart home technology is expected to be the key revenue engine, accumulating 44% market share in 2022

At what rate will the market for smart home automation flourish across North America?

According to Future Market Insights, the smart home automation market in North America is slated to grow at an 8% CAGR

How attractive are growth prospects for smart home automation in Europe?

Demand for smart home automation in Europe is forecast to flourish at a 7.7% CAGR until 2032

Will Asia Pacific yield significant growth opportunities for smart home automation?

The Asia Pacific smart home automation market is expected to rise at a 7.5% CAGR from 2022 to 2032

Explore Similar Insights

Future Market Insights

Smart Home Automation Market