Quick Summary:
In an era where technology is continuously evolving, the global single-family smart homes market is experiencing accelerated growth. As the seamless integration of technology and living spaces becomes increasingly desirable, understanding market dynamics is crucial for strategic business decisions.
Our latest market research report presents in-depth insights on the single-family smart homes market. In this comprehensive study, we analyze key aspects including market trends, growth drivers, and challenges. The surge in demand for connected homes and the rising adoption of smart home appliances has given way to considerable market growth. However, this potential isn't without obstacles. High installation costs could potentially inhibit further expansion of the market.
Our report offers a holistic overview of technological advancements in IoT and smart home devices, regions experiencing rapid growth, and potential market restraints. Major market players including Lennar Corporation, Meritage Homes Corporation, and Metricon are profiled, providing a comprehensive view of the competitive landscape. This critical intelligence empowers senior business executives to navigate changing market dynamics and capitalize on emerging opportunities in the promising single-family smart homes market.
The global single-family smart homes market will grow from $83.78 billion in 2022 to $99.14 billion in 2023 at a compound annual growth rate (CAGR) of 18.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The single-family smart homes market is expected to grow to $191.83 billion in 2027 at a CAGR of 17.9%.
The single-family smart homes market consists of sales of smart appliances such as smart lighting, entertainment, smart appliances, and others and their related services used in single-family homes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The single-family smart homes are futuristic single-family buildings equipped with advanced electronics and wireless devices. The smart home system requires a web portal or smartphone application to interact with the automated system as a user interface.
Asia Pacific is the largest region in the single-family smart homes market in 2022. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the single-family smart homes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in single-family smart homes are smart lighting, entertainment, smart appliances, and others. Smart lighting is a type of lighting that is designed to save energy while also providing security and convenience. This could incorporate energy-efficient fixtures and automatic controls that adjust based on factors including occupancy or daylight availability. The different technologies include Wi-Fi, Bluetooth, GSM/GPRS, RFID, and others, and the software and services used include proactive and behavioural. These types of services are provided by large contractors and small contractors.
The increasing number of connected homes and the growing implementation of smart home appliances, including speakers, home healthcare products, lightning systems, smart kitchens, smart furniture, and HVAC control solutions, is projected to contribute to the higher demand for the single-family smart homes market. According to the smart home statistics of 2021, 57% of homes in Britain contain a smart device, and 23% of Britain, that is 66.44 million people, have a smart item. In addition, in the UK, there are 2.22 million smart homes. Therefore, the increasing implementation of smart home appliances together with a growing number of connected homes across the globe is anticipated to boost the demand for the single-family smart home market over the forecast period.
High installation costs are projected to limit the growth of the single-family smart home market. For instance, the typical cost to automate a home in the US is between $2,000 and $7,000, with most homeowners spending around $5,500 to automate their lights, door locks, and thermostats, as well as install a smart speaker, hub, and smart plugs in three rooms. Therefore, the high installation cost associated with high-cost smart appliances is expected to act as a major restraint on the growth of the single-family smart home market.
Technological advancements related to the internet of things (IoT) and smart home devices are a major trend in the industry. According to a Forbes, US-based business magazine, the number of cellular IoT connections is expected to reach 3.5 billion in the year 2023. Similarly, in 2020, the number of connected IoT devices used was 11.3 billion. According to IoT Analytics, the global number of linked IoT devices will reach 27 billion by 2025. The newly launched smart speakers by Google Assistant and Amazon Alexa are shaping the growth of smart devices. For instance, in September 2021, Amazon, an American e-commerce company, launched a new home security and smart home devices including smart doorbells and smart thermostats. Therefore, technological advancement in IoT and smart home devices is expected to remain a key trend and boost the revenue for the single-family smart home market.
The countries covered in the single-family smart homes report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The single-family smart homes market research report is one of a series of new reports that provides single-family smart homes market statistics, including single-family smart homes industry global market size, regional shares, competitors with a single-family smart homes market share, detailed single-family smart homes market segments, market trends and opportunities, and any further data you may need to thrive in the single-family smart homes industry. This single-family smart homes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Major players in the single-family smart homes market are Lennar Corporation, Meritage Homes Corporation, Metricon, Porter Davis, Henley, Carlisle, Elan Homes (Nortek Security & Control, LLC), PulteGroup Inc., KB Smart Home, TRI Pointe Group.
This product will be delivered within 1-3 business days.
The single-family smart homes market consists of sales of smart appliances such as smart lighting, entertainment, smart appliances, and others and their related services used in single-family homes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The single-family smart homes are futuristic single-family buildings equipped with advanced electronics and wireless devices. The smart home system requires a web portal or smartphone application to interact with the automated system as a user interface.
Asia Pacific is the largest region in the single-family smart homes market in 2022. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the single-family smart homes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in single-family smart homes are smart lighting, entertainment, smart appliances, and others. Smart lighting is a type of lighting that is designed to save energy while also providing security and convenience. This could incorporate energy-efficient fixtures and automatic controls that adjust based on factors including occupancy or daylight availability. The different technologies include Wi-Fi, Bluetooth, GSM/GPRS, RFID, and others, and the software and services used include proactive and behavioural. These types of services are provided by large contractors and small contractors.
The increasing number of connected homes and the growing implementation of smart home appliances, including speakers, home healthcare products, lightning systems, smart kitchens, smart furniture, and HVAC control solutions, is projected to contribute to the higher demand for the single-family smart homes market. According to the smart home statistics of 2021, 57% of homes in Britain contain a smart device, and 23% of Britain, that is 66.44 million people, have a smart item. In addition, in the UK, there are 2.22 million smart homes. Therefore, the increasing implementation of smart home appliances together with a growing number of connected homes across the globe is anticipated to boost the demand for the single-family smart home market over the forecast period.
High installation costs are projected to limit the growth of the single-family smart home market. For instance, the typical cost to automate a home in the US is between $2,000 and $7,000, with most homeowners spending around $5,500 to automate their lights, door locks, and thermostats, as well as install a smart speaker, hub, and smart plugs in three rooms. Therefore, the high installation cost associated with high-cost smart appliances is expected to act as a major restraint on the growth of the single-family smart home market.
Technological advancements related to the internet of things (IoT) and smart home devices are a major trend in the industry. According to a Forbes, US-based business magazine, the number of cellular IoT connections is expected to reach 3.5 billion in the year 2023. Similarly, in 2020, the number of connected IoT devices used was 11.3 billion. According to IoT Analytics, the global number of linked IoT devices will reach 27 billion by 2025. The newly launched smart speakers by Google Assistant and Amazon Alexa are shaping the growth of smart devices. For instance, in September 2021, Amazon, an American e-commerce company, launched a new home security and smart home devices including smart doorbells and smart thermostats. Therefore, technological advancement in IoT and smart home devices is expected to remain a key trend and boost the revenue for the single-family smart home market.
The countries covered in the single-family smart homes report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The single-family smart homes market research report is one of a series of new reports that provides single-family smart homes market statistics, including single-family smart homes industry global market size, regional shares, competitors with a single-family smart homes market share, detailed single-family smart homes market segments, market trends and opportunities, and any further data you may need to thrive in the single-family smart homes industry. This single-family smart homes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Major players in the single-family smart homes market are Lennar Corporation, Meritage Homes Corporation, Metricon, Porter Davis, Henley, Carlisle, Elan Homes (Nortek Security & Control, LLC), PulteGroup Inc., KB Smart Home, TRI Pointe Group.
This product will be delivered within 1-3 business days.
Frequently Asked Questions about the Global Single-Family Smart Homes Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2023 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value ( USD | $ 99.14 billion |
| Forecasted Market Value ( USD | $ 191.83 billion |
| Compound Annual Growth Rate | 17.9% |
| Regions Covered | Global |
Table of Contents
1. Executive Summary2. Single-Family Smart Homes Market Characteristics
3. Single-Family Smart Homes Market Trends And Strategies
4. Single-Family Smart Homes Market - Macro Economic Scenario
4.1 COVID-19 Impact On Single-Family Smart Homes Market
4.2 Ukraine-Russia War Impact On Single-Family Smart Homes Market
4.3 Impact Of High Inflation On Single-Family Smart Homes Market
5. Single-Family Smart Homes Market Size And Growth
5.1. Global Single-Family Smart Homes Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Single-Family Smart Homes Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Single-Family Smart Homes Market Segmentation
6.1. Global Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Smart Lighting
- Entertainment
- Smart Appliances
- Other Products
- Wi-Fi
- Bluetooth
- GSM/GPRS
- RFID
- Other Technologies
- Proactive
- Behavioral
7.1. Global Single-Family Smart Homes Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Single-Family Smart Homes Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Single-Family Smart Homes Market
8.1. Asia-Pacific Single-Family Smart Homes Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.3. Asia-Pacific Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Single-Family Smart Homes Market
9.1. China Single-Family Smart Homes Market Overview
9.2. China Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
9.3. China Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Single-Family Smart Homes Market
10.1. India Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
10.2. India Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Single-Family Smart Homes Market
11.1. Japan Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11.2. Japan Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Single-Family Smart Homes Market
12.1. Australia Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12.2. Australia Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Single-Family Smart Homes Market
13.1. Indonesia Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13.2. Indonesia Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Single-Family Smart Homes Market
14.1. South Korea Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14.2. South Korea Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Single-Family Smart Homes Market
15.1. Western Europe Single-Family Smart Homes Market Overview
15.2. Western Europe Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15.3. Western Europe Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Single-Family Smart Homes Market
16.1. UK Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16.2. UK Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Single-Family Smart Homes Market
17.1. Germany Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17.2. Germany Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Single-Family Smart Homes Market
18.1. France Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18.2. France Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Single-Family Smart Homes Market
19.1. Eastern Europe Single-Family Smart Homes Market Overview
19.2. Eastern Europe Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19.3. Eastern Europe Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Single-Family Smart Homes Market
20.1. Russia Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20.2. Russia Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Single-Family Smart Homes Market
21.1. North America Single-Family Smart Homes Market Overview
21.2. North America Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21.3. North America Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Single-Family Smart Homes Market
22.1. USA Single-Family Smart Homes Market Overview
22.2. USA Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22.3. USA Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Single-Family Smart Homes Market
23.1. South America Single-Family Smart Homes Market Overview
23.2. South America Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23.3. South America Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Single-Family Smart Homes Market
24.1. Brazil Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24.2. Brazil Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Single-Family Smart Homes Market
25.1. Middle East Single-Family Smart Homes Market Overview
25.2. Middle East Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25.3. Middle East Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Single-Family Smart Homes Market
26.1. Africa Single-Family Smart Homes Market Overview
26.2. Africa Single-Family Smart Homes Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26.3. Africa Single-Family Smart Homes Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Single-Family Smart Homes Market Competitive Landscape And Company Profiles
27.1. Single-Family Smart Homes Market Competitive Landscape
27.2. Single-Family Smart Homes Market Company Profiles
27.2.1. Lennar Corporation
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Meritage Homes Corporation
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Metricon
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Porter Davis
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Henley
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Single-Family Smart Homes Market
29. Single-Family Smart Homes Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer
Executive Summary
Single-Family Smart Homes Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on single-family smart homes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered
1) By Product: Smart Lighting; Entertainment; Smart Appliances; Other Products2) By Technology: Wi-Fi; Bluetooth; GSM/GPRS; RFID; Other Technologies
3) By Software and Service: Proactive; Behavioral
Companies Mentioned: Lennar Corporation; Meritage Homes Corporation; Metricon; Porter Davis; Henley
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Lennar Corporation
- Meritage Homes Corporation
- Metricon
- Porter Davis
- Henley
- Carlisle
- ELAN Homes (Nortek Security & Control, LLC)
- PULTEGROUP, INC.
- KB Smart Home
- TRI Pointe Group
- D. R. Horton
- Belmar Builders Inc.
- Loxone
- Plantation Homes
Methodology
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