Smart home is a smart system that anticipates and responds with intuitive and at times automated control of some or all of the amenities in a home that include TV, lighting, music, safety & security, climate, energy & water, and more. The smart home technology has grown tremendously since 2010 and transitioned from wired technology to wireless technology with emergence of wireless technologies, such as Bluetooth, Wi-Fi, and mobile Internet. The Internet of Things (IoT) has enabled the rapid growth of smart homes, connecting physical devices with internet connectivity and sensors providing new services to households. The trend of smart home is shifting towards the centralized control. For example, Amazon Echo and Google Home are heading in the direction of centralized smart home control.
The smart home market has reached to about $ 12.5 billion in 2017 and is expected to grow at ~15% annually through 2023. This growth is expected to be driven by the factors, such as considerable growth of IoT market, improving energy efficiency, and increasing demand for security devices. A major factor restraining the growth of this market is the security issues over internet. Favorable government regulations are being implemented in several countries across the globe and next generation technologies, such as 3D gesture-based remote control in the home entertainment will present huge opportunities for smart home market.
The market for entertainment and other controls has accounted for the largest share of the smart home market in 2017, attributed to the high penetration rate of products such as smart meters and smoke detectors. Although the increasing cost of electricity is a major concern for household consumers, the market for energy saving devices will have a higher demand through 2023. Changing lifestyles and rising purchasing power of people are also expected to drive the market for smart home products worldwide. The market for lighting control is expected to grow at a higher rate because these smart home products are aimed at reducing electricity consumption in homes during the day.
The software and services pertaining to smart homes has been growing at a considerable rate as it enables users to control systems and devices installed in their homes. Most of the devices/systems, such as lighting control, HVAC control, security and access control, entertainment control, smart kitchen, and smart home appliances can be accessed and controlled using smartphones, computers, tablets, laptops, and hubs as these are enabled by the compatible software solutions and algorithms designed by smart home providers. Vivint, Inc. (US.), Comcast Corporation (US), The ADT Corporation (US), GE Healthcare (UK), AT&T, Inc. (US), Siemens Healthcare (Germany), Opower (US) and Time Warner Cable (US) are some of the major players that provide software solutions and services for smart homes.
North America accounted for the major market in 2017, accounting for ~45% of the global smart home market. However, the rising number of new residential projects and the increasing initiatives to strengthen the building infrastructure and increased focus on smart homes and smart cities is expected to make Asia-Pacific a potential market through 2023. The demand for energy saving products in Europe is also an important market for smart homes, as this region has been majorly focusing on energy savings.
Some of the major players in the smart home market include Siemens AG (Germany), General Electric Company (US), Johnson Controls, Inc. (US), Schneider Electric (France), ABB Ltd. (Switzerland), Honeywell International, Inc. (US), United Technologies Corporation (US), Ingersoll-Rand PLC (Ireland), Samsung Electronics Co., and Legrand S.A. (France).
1.1 Goal & Objective
1.2 Report Coverage
1.3 Supply Side Data Modelling & Methodology
1.4 Demand Side Data Modelling & Methodology
2 Executive Summary
3 Market Outlook
3.2 Current & Future Outlook
22.214.171.124 Demand Drivers
126.96.36.199 Supply Drivers
3.4 Market Entry Matrix
3.5 Market Opportunity Analysis
3.6 Market Regulations
3.7 Pricing Mix
3.8 Key Customers
3.9 Value Chain & Ecosystem
4 Market Demand Analysis
4.1 Smart Home Market, Protocols and Technologies
4.2 Protocols & Standards
4.2.1 Digital Addressable Lighting Interface (DALI)
4.2.4 Building Automation and Control Network (BACNet)
4.2.5 Black Box
4.2.6 Power Line Communication (PLC)
4.2.7 Digital Multiplexer (DMX)
4.3 Cellular Network Technologies
4.3.1 4G&5G Network
4.3.2 GSM (Global System for Mobile communication)/HSPA Networks
4.3.3 Code-division multiple access (Cdma) Networks
4.4 Wireless Communication Technologies
5 Smart Home Market, By Application
5.1 By Product
5.2 Lightning Controls
5.2.3 Occupancy Sensors
5.2.4 Daylight Sensors
5.2.7 Accessories and Other Products
5.3 HVAC Control
5.3.1 By Product
188.8.131.52 Smart Thermostats
184.108.40.206 Control Valves
220.127.116.11 Heating and Cooling Coils
18.104.22.168 Pumps & Fans
22.214.171.124 Smart Vents
5.4 Security and Access Control
5.4.1 Security Control, By Product
126.96.36.199 Video Surveillance
188.8.131.52 Video Analytics
184.108.40.206 Security Cameras
220.127.116.11 Storage Devices
5.4.2 Access Control
18.104.22.168 Iris Recognition
22.214.171.124 Facial Recognition
126.96.36.199 Biometric Access Control
188.8.131.52 Fingerprint Recognition
184.108.40.206 Non-Biometric Access Control
5.4.3 Smart Kitchen
220.127.116.11 Smart Cooktops
18.104.22.168 Smart Pressure Cookers
22.214.171.124 Smart Kettles
126.96.36.199 Smart Fridges
188.8.131.52 Smart Coffee Machine/ Coffee Makers
184.108.40.206 Smart Dishwashers
220.127.116.11 Smart Microwave
5.4.4 Smart Appliances
18.104.22.168 Smart Water Heaters
22.214.171.124 Smart Washers
126.96.36.199 Smart Dryers
188.8.131.52 Smart Vacuum
184.108.40.206 Smart AC's
220.127.116.11 Smart Deep Freezer
18.104.22.168 Smart Air-Purifiers
22.214.171.124 Smart Door Bell
5.4.5 Entertainment and Other Controls
126.96.36.199 By Product
188.8.131.52.1 Audio, Volume, & Multimedia Room Controls
184.108.40.206.2 Home Theater System Controls
220.127.116.11.3 Touchscreens and Keypads
18.104.22.168 Other Controls, By Product
22.214.171.124.1 Smart Meters
126.96.36.199.2 Smart Plugs
188.8.131.52.3 Smart Hubs
184.108.40.206.4 Smart Locks
220.127.116.11.5 Smoke Detectors
6 Smart Home Market, By Software
7 Smart Home Market Analysis, By Region
7.1 North America
7.2.5 Rest of Europe
7.3 Asia Pacific
7.3.5 Rest of APAC
7.4 Middle East & Africa
7.4.1 Saudi Arabia
7.4.3 Rest Of MEA
7.5 South America
7.5.3 Rest of South America
8 Supply Market Analysis (Industrial Player Analysis)
8.1 Strategic Benchmarking
8.2 Market Share Analysis
8.3 Key Players
8.3.1 Honeywell International, Inc.
8.3.2 Ingersoll-Rand plc.
8.3.3 Johnson Controls, Inc.
8.3.4 Siemens AG
8.3.5 Honeywell International Inc.
8.3.6 ABB Ltd.
8.3.7 United Technologies Corporation
8.3.8 General Electric Company
8.3.9 Schneider Electric Se
8.3.10 Legrand S.A.
8.3.11 Samsung Electronics Co., Ltd.
8.3.12 Lutron Electronics Co., Inc.
8.3.13 Leviton Manufacturing Company, Inc.
8.3.14 Acuity Brands, Inc.
8.3.15 Vodafone Group Plc. & Others
SDMR employs a three way data triangulation approach to arrive at market estimates. We use primary research, secondary research and data triangulation by top down and bottom up approach
Our research methodology involves in-depth desk research using various secondary sources. Data is gathered from association/government publications/databases, company websites, press releases, annual reports/presentations/sec filings, technical papers, journals, research papers, magazines, conferences, tradeshows, and blogs.
Key Data Points through secondary research-
Macro-economic data points
Import Export data
Identification of major market trends across various applications
Primary understanding of the industry for both the regions
Competitors analysis for the production capacities, key production sites, competitive landscape
Cost Margin Analysis
Key Data Points through primary research-
Major factors driving the market and its end application markets
Comparative analysis and customer analysis
Collaborations or tie-ups
Annual Production, and sales
Average Selling Price
Data triangulation is done using top down and bottom approaches. However, to develop accurate market sizing estimations, both the methodologies are used to accurately arrive at the market size. Insert Image