Envision Report

Published March 12, 2018

Smart Home Market – Size, Outlook, Trends and Forecasts (2018 – 2024)

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Making the house fully automated with installing the devices which will continuously monitor or survey the house to prevent thefts or any other dangerous calamity. It also includes control and automation of lighting, heating, ventilation, air conditioning (HVAC) as well as the home appliances like washers, ovens etc. Convenience is one factor seen by any consumer and smart home undoubtedly acing it.  Ease inaccessibility is one the benefit for elderly people with all new voice commands systems which can work with lights, lock doors. Smart homes are constructed with energy efficient plan which includes turning off lights and fans and the thermostat can set according to the room and outside temperature. The selling options for the smart homes are very abundant, because of it’s technically advancements equipment in the homes to make it fully automated

Smart Home Market Report Segments Size & Growth:

Smart Home Market size is projected to reach approximately USD 136.91 Billion by the end of 2024 with a CAGR of close to 13.38% during the forecast timeline 2018-2024. Growing focus on the energy consumption and this is noticed by many consumers hence becoming the major driver for the smart homes market. The rise in a number of elder citizens, rising disposable money in the developing countries and stringent government regulations are few drivers responsible for the rise in the smart home market. Sudden changes in the climatic conditions due to the global warming of the globe, and fluctuating energy prices and energy storage, security &supply concerns are responsible for new ways of producing and supplying energy. With this regard, the Smart Home Market Growth is rising with the time period eventually. High installation costs in the set up of smart homes resulted in decreasing the growth of the smart home industry. Incidents and complaints related to a security breach and privacy are resulting in decreasing the demand for consumers. Due to the radiation effect and the large power consumption from the technology that is used in smart homes is triggering the government to promote green building. In coming future the smart homes are installed with lighting controllers along with the built data connectivity technology. There is an opportunity that the smart homes to get unified with pro-line communication technology. However, the technology used in the smart homes has some challenges and limitations such as lack standardization, limited in functionality and risk of device malfunctioning.

Smart Home Market Report Segments Share:

By Product Type, the Smart Home Market is segmented into Smart Kitchen, Security and Access Control, Lighting Control/Energy Management Systems, Home Healthcare, Heating, Ventilation and Air Conditioning (HVAC), Entertainment Control Systems, and others. Among all these Energy Management Systems are dominating the smart home growth market. Lack limited functionality being considered as the main restraint, the smart home market research has used these energy management systems to regulate the functionality of the devices. The Smart Home Market is geographically segmented into North America, South America, Europe, Middle East and Africa, Asia Pacific regions. North America region has emerged as leading region for the smart home market followed by Europe which has the equal opportunities for the enterprises that operate the Smart Home Market.  There is a great demand for the smart home appliances in these regions as compared to other regions throughout the smart home market forecast period. However, the Asia Pacific region is the fastest growing region during the forecasting period as compared to US Smart Home Market. Urbanization in countries like China, Japan, and India led to the expansion of the market in the Overall regions of the Asia Pacific. Change in the lifestyles of the people, people kneeling towards comforts and mobility and need for energy management devices has propelled the Smart Home Industry Growth in the Asia Pacific regions

Smart Home Market Report Trends:

  • Schneider Electric India powers 2 GW of solar capacity in India, targets 2.5 GW by March 2017. 20% of India’s solar capacity flowing through Schneider’s equipment
  • On 2nd October 2017, Samsung Unveiled ADT-Monitored DIY Security and Home Automation Solution Powered by Smart Things

Smart Home Market Report Research Report:                                        

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Global and Regional Diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major market players, such as

  • Ingersoll-Rand Plc
  • Legrand
  • Siemens AG
  • Johnson Controls Inc.
  • Schneider Electric SE
  • ABB Ltd.

Along with these companies, there were many other companies considered/cited in the report while analyzing the Smart Home Market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.

Chapter 1 Introduction

1.1 Executive Summary

1.2 Market Definition

1.3 Scope of the Study

Chapter 2 Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.3 Analytic Tools and Model

2.4 Economic Indicator

2.4.1 Base Year, Base Currency, Forecasting Period

2.5 Expert Validation

2.6 Study Timeline

Chapter 3 Market Analysis

3.1 Industry Value Chain Analysis

3.2Porter’s Five Force Analysis

3.2.1 Bargaining Power of Buyers

3.2.2 Bargaining Power of Suppliers

3.2.3 Threats of Substitutes

3.2.4 Threats of New Entrants

3.2.5 Industry Rivalry

3.3 PESTLE Analysis

3.3.1 Political

3.3.2 Economical

3.3.3 Social

3.3.4 Technological

3.3.5 Legal

3.3.6 Environmental

3.4 SWOT Analysis

3.4.1 Strengths

3.4.2 Weakness

3.4.3 Opportunities

3.4.4 Threats

3.5 Y-O-Y Analyses

Chapter 4 Market Dynamics

4.1. Drivers

4.1.1 Growing focus on sustainability

4.1.2 Growth in the Internet of Things (IoT)

4.1.3 Increasing importance of Home Monitoring from distant places

4.1.4 Growing concern about safety, security, and convenience for all individuals

4.2 Restraints

4.2.1 High Installation Cost

4.2.2 Limited Consumer Demand because of issues related to a security breach and privacy

4.3 Opportunities

4.3.1 Government Regulations to promote green buildings

4.3.2 Lighting controllers to be installed along with the Built data Connectivity Technology.

4.3.3 Smart Homes to get integrated with the pro-line communication technology

4.4 Challenges

4.4.1 Lack Open Standards and Limited Functionality

4.4.2 Device Malfunctioning Risks

Chapter 5 Smart Home Market – By Application Type

5.1 Smart Kitchen

5.2 Security and Access Control

5.3 Lighting Control / Energy Management Systems

5.4 Home Healthcare

5.5 Heating, Ventilation and Air Conditioning (HVAC) Control Systems

5.6 Entertainment Control Systems

5.6 Others

Chapter 6 Smart Home Market – By Software

6.1 By Behaviour

6.2 By Proactive

Chapter 7 Smart Home Market – By Geography

7.1 Introduction

7.2 North America

7.2.1 U.S.

7.2.2 Canada

7.2.3 Mexico

7.3 Europe

7.3.1 U.K.

7.3.2 Germany

7.3.3 France

7.3.4 Italy

7.3.5 Spain

7.3.6. Rest of Europe

7.4 APAC

7.4.1 China

7.4.2 Japan

7.4.3 India

7.4.4 South Korea

7.4.5 Australia & New Zealand

7.4.6 Rest of APAC

7.5 South America

7.5.1 Brazil

7.5.2 Argentina

7.5.3 Others

7.6 Middle East & Africa

7.6.1 Middle East

7.6.2 Africa

Chapter 8 Smart Home Market – Company Profiles

8.1 Ingersoll-Rand plc

8.2 Legrand

8.3 Siemens AG

8.4 Johnson Controls Inc.

8.5 Schneider Electric SE

8.6 ABB Ltd.

8.7 Acuity Brands, Inc.

8.8 United Technologies Corporation

8.9 Samsung Electronics Co.

8.10 Nest Labs, Inc.

8.11 Honeywell International Inc.

8.12 Crestron Electronics, Inc.

8.13 LG Electronics Inc.

8.14 Infineon Technologies AG

8.15 Loxone Electronics GmbH

Chapter 9 Smart Home Market – Competitive Landscape

9.1. Market Share Analysis

9.2. Strategies Adopted by top companies

9.3. Mergers, Acquisitions, Collaborations & Agreements

Chapter 10 Market Insights

10.1. Industry Experts Insights

10.2. Analysts Opinions

10.3. Investment Opportunities

Chapter 11 Appendix

11.1 List of Tables

11.2 List of Figures



  • Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
  • Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
  • The Regional and Global Variety is taken care of in the report.
  • Year on Year basis generation of revenue is studied.
  • Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
  • The overview and the sustainability of the market are analyzed through SWOT.
  • DROC is recognized in the current market scenario and see how its effect on market dynamics.
  • The segment-level analysis in terms of type and technology.
  • The value chain analysis, value that's created and captured by a company is the profit margin.Value
  • Created and Captured – Cost of Creating that Value = Margin
  • An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
  • Basis on the depth of the study we approach using analytical tools
  • Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.


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