Smart Home Market & Trends

Smart Home Market and Smart Home Trends

About Smart Homes

The Smart Home Market represents smart devices in the home connected by an Internet, LAN, Bluetooth or other network. A Smart home system usually controls lighting, temperature, entertainment systems, appliances and even home security devices such as access control and alarm systems. Smart Home systems allow a user to remotely control and manage Smart Home devices through a control panel, networked devices, voice command hubs such as smart speakers, or smartphones without having to be physically present. One of the most prominent Smart Home Trends, is the increasing variety of devices that can be connected within a Smart Home.

Global Smart Home Market by Smart Home Category, 2018 - 2022

Global Smart Home Market by Smart Home Category

The chart above represents Smart Home Market Size data for the Smart Home Market and provides the expected Smart Home trends across sub-segments. The Smart Home Market Size was estimated to be $207M in 2018 and is forecast to grow at a CAGR of 9.5% until 2022 to a $298M market. For more data on the Smart Home Market, Smart Home Trends, and Smart Home Statistics please visit T4’s platform here

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Global Smart Home Shipment Trends by Subcategory, 2018 & 2022
Smart Home Market & Trends

The chart provides a snapshot of the Smart Home Market and Smart Home Trends within several leading subcategories. All the Smart Home market segments except for Video Entertainment are expected to at least double in size between 2018 and 2022. The largest Smart Home market sub-segment in 2018 by device shipments was Video Entertainment with a Smart Home market size of 310 million devices shipped across the globe, followed by Home Monitoring & Security devices at nearly 98 million global shipments. View the source for Smart Home Market Shipments by sub-category and other Smart Home Statistics and trends here.

Smart Speakers Market Growth Drivers

Smart Speakers are seen as the cornerstone of the smart home experience and are gaining popularity across the consumer IoT industry. These devices are being designed to serve as a hub to connect with various digital streaming platforms, smart TVs and other devices, making them an essential smart home device to control other devices with a simple voice command. The growing popularity of voice assisted online shopping, is also one of the key growth drivers for these devices and will continue to be among its top applications by consumers. This market has also benefited from growing competition, and smart speakers are now available at various price points making the market more accessible to a wider consumer base.

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Do Research Firms Agree on Smart Home Market Share, Size, and Growth?

Though there is a consensus among most of the researchers on the growth potential for Smart Home market technology, there is a wide disparity in reporting the Smart Home Market Size of sub-segments. This is mainly due to the variation in defining what products constitute the the Smart Home subcategories and what is considered a Smart device. However on a broad scale, most reports agree that Amazon is the global Smart Home market share leader across most smart device categories, especially in the North American regional Smart Home market. See each source’s view of the Smart Home market on the T4 Platform.

What Additional Smart Home Data Does T4 Have?

T4 comprehensively aggregated more than 50 reports from more than 10 publishers covering statistics and trends in the Smart Home Industry. This includes Smart Home Market trends, Smart Home Market Size, Smart Home Shipments by region and application, Installed base, and more than 10 additional Smart Home statistics. The Smart Home Industry falls under T4's (IoT) Internet of Things industry coverage. Industries related to the Smart Home market in the T4 taxonomy include Home Automation and Management, Smart Appliances, Smart Assistants, Smart City, and Smart Utilities. Related subcategories of the Industry include Smart Home Control & Connectivity, Smart Home Devices, and Smart Home Entertainment, and Smart Home Security. You can find reports covering more Smart Home trends and trends in these industries on T4’s Platform.

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