United States Smart Home Market was at US$ 28.56 Billion in 2022
United States Smart Homes Market Size will be worth US$ 69.97 Billion by 2030, according to the report. The terms 'smart homes' and 'home automation' are umbrella terms that cover a range of monitoring methods, from complex systems to motorized garage doors. Smart homes handle user interaction through a web portal or mobile app, as opposed to basic home automation. The remote control of numerous operations, including heating and lighting, is made possible by these internet-connected buildings, ensuring security, comfort, and energy efficiency.
From doorbells to lights and fridges, the adoption of smart domestic devices in the US has been at the upward push. Consumers’ growing utilization of them, coupled with the opportunity to save via merchandise like clever speakers, cause them to very relevant to any ecommerce commercial enterprise these days. The smart home market currently refers to expensive projects. However, it is anticipated that it will eventually apply to all types of housing. The educated population is moving more and more to cities in search of employment. Many people living in urban areas aspire to own smart homes or homes that can adapt to developing technologies out of a desire to own a home that is in line with current trends. Due to its many benefits, the sector is expanding significantly. Homebuyers outside of the luxury market are anticipated to start choosing smart homes and their advantages as home automation is now available at reasonable prices.
United States Smart Home Market will expand at a CAGR of 11.85% during 2022 and 2030
Voice assistants like Google Assistant and Amazon Alexa are democratizing smart home technology in the US due to the convenience of task automation, including weather-based temperature adjustments and keyless entry through smart locks. Smart homes are becoming more and more popular as people become more aware of their advantages, which include comfort, security, and energy efficiency. The expanding Internet of Things (IoT) makes smart home products easier to use and more accessible by enabling remote control. Smarter devices are being developed as a result of developments in AI and machine learning, such as AI-powered thermostats that can learn user preferences.
Smart security systems send smartphone alerts for intruder detection and smart thermostats save energy, improving home security. Government incentives, such as U.S. tax credits for renewable energy systems, further promote smart home adoption. The development of smart home devices and related services, such as installation and upkeep, are seeing rapid sales growth, creating business opportunities. Hence, the United States smart home market was at US$ 28.56 Billion in 2022.
Smart Appliances accounted for the highest share in the United States smart home market
Based on application, the United States smart home market is segmented into Comfort & Lighting, Control & Connectivity, Energy Management, Home Entertainment, Security, Smart Appliances. The function of a kitchen has changed from being just a place to prepare food to now being connected to things like entertainment, socializing, dining, and working. Similar lifestyle changes have benefited from technology. Furthermore, geofencing technology advancements are being noted to pinpoint smartphone locations to prevent leaving the house without turning off the oven or receiving an alert to prevent unintentional house fires. According to the New York City Fire Department, 'unattended cooking' is typically to blame for 33% of house fires. Furthermore, it was mentioned that the fire starter is attributed to leaving food or grease in the oven or placing a stove or oven close to combustibles like paper towels.
United States smart home market is experiencing a robust expansion in the adoption of monitoring cameras
Smart Speaker, interactive security system, smart thermostat, monitoring camera, video doorbell, smart light bulb, motion sensor, smart light switch, door/video sensor, smart door lock, smart plug, smart smoke detector, garage door opener, smart electrical socket, smart oven, smart window shade/blind, leak/moisture detector, irrigation control system, and water shutoff system are the products available in the United States smart home market. Driven by escalating security concerns, these cameras provide real-time surveillance, safeguarding property and loved ones. Their easy installation and integration into existing smart home systems make them accessible to a wide range of consumers. The ability to remotely monitor homes through smartphones or computers is a compelling feature, particularly for those seeking continuous property surveillance. Competitive pricing, customizable capabilities, coverage advantages, and a developing focus of the blessings of clever home era further make contributions to their recognition.
In North Carolina, the smart home market has expanded considerably growing
Florida, Texas, South Carolina, North Carolina, California, Iowa, New York, Illinois, Arizona, Wisconsin, and others are some of the countries that take part in the United States smart home market. Advancing technology within the California is fuelling the adoption of smart home gadgets for his or her convenience, protection, and blessings like power efficiency and more desirable safety. North Carolina tech-savvy population, sturdy studies establishments, commercial enterprise-friendly atmosphere, increasing actual estate market, and increasing remote work trends bolster the growing demand for Smart homes.
Key Players
Apple Inc, Schneider Electric, Panasonic, Sony, Honeywell International Inc, and Amazon.Com Inc are among the companies that represent in the United America smart domestic market.
In June 2022, Siemens AG announced Siemens Xcelerator, an open digital enterprise platform, to facilitate virtual transformation and fee introduction for customers of all sizes in sectors, institutions, grids, and portability. Siemens has obtained Brightly Software, a well-known American provider of asset and renovation control software. Brightly well-hooked up abilties across key industries will supplement Siemens know-how in virtual and software in homes. It will act as the inspiration of SiemensXcelerator for Buildings portfolio.
This latest report “United States Smart Home Market, Application (Comfort & Lighting, Control & Connectivity, Energy Management, Home Entertainment, Security, Smart Appliances), Products (Smart Speaker, interactive security system, smart thermostat, monitoring camera, video doorbell, smart light bulb, motion sensor, smart light switch, door/video sensor, smart door lock, smart plug, smart smoke detector, garage door opener, smart electrical socket, smart oven, smart window shade/blind, leak/moisture detector, irrigation control system, and water shutoff system), States (Florida, Texas, South Carolina, North Carolina, California, Iowa, New York, Illinois, Arizona, Wisconsin, and Others), Companies (Panasonic Corporation, Sony Corporation, Apple Inc., Schneider Electric, Amazon.com Inc., and Honeywell International Inc.)” provides a detailed analysis of United States Smart Home Market.
Application - United States Smart Home Market has been covered from six viewpoints.
1. Comfort & Lighting
2. Control & Connectivity
3. Energy Management
4. Home Entertainment
5. Security
6. Smart Appliances
Product - United States Smart Home Market has been covered from nineteen viewpoints.
1. Smart Speaker
2. Interactive Security System
3. Smart Thermostat
4. Monitoring Camera
5. Video Doorbell
6. Smart Light Bulb
7. Motion Sensor
8. Smart Light Switch
9. Door/Video Sensor
10. Smart Door Lock
11. Smart Plug
12. Smart Smoke Detector
13. Garage Door Opener
14. Smart Electrical Socket
15. Smart Oven
16. Smart Window Shade/Blind
17. Leak/Moisture Detector
18. Irrigation Control System
19. Water Shutoff System
States - United States Smart Home Market has been covered from eleven viewpoints.
1. Florida
2. Texas
3. South Carolina
4. North Carolina
5. California
6. Iowa
7. New York
8. Illinois
9. Arizona
10. Wisconsin
11. Others
Company Insights
- Overview
- Recent Development
- Sales Analysis
Company Analysis:
1. Panasonic Corporation
2. Sony Corporation
3. Apple Inc.,
4. Schneider Electric
5. Amazon.com Inc.,
6. Honeywell International Inc.
Table of Contents
Companies Mentioned
- Panasonic Corporation
- Sony Corporation
- Apple Inc.,
- Schneider Electric
- Amazon.com Inc.,
- Honeywell International Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | August 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 28.56 Billion |
| Forecasted Market Value ( USD | $ 69.97 Billion |
| Compound Annual Growth Rate | 11.8% |
| Regions Covered | United States |
| No. of Companies Mentioned | 6 |
