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Smart Home Hardware Market Size, Share & Trends Analysis Report By Type (Control & Connectivity Devices, Smart Appliances (HVAC, Smart Kitchen Appliances)), By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 102 Pages
  • May 2023
  • Region: Global
  • Grand View Research
  • ID: 5830891
The global smart home hardware market size is expected to reach USD 180.85 billion by 2030, expanding at a 14.3% CAGR from 2023 to 2030. With the proliferation of smartphones and other mobile devices, homeowners are looking for ways to control their homes remotely and conveniently. Smart home devices provide them with remote access to various home appliances and systems, including lighting, security, temperature control, and entertainment. Another smart home hardware growth driver is the increasing awareness of energy conservation and the need for sustainable living. Smart home devices are designed to be energy-efficient and environmentally friendly, making them attractive to consumers concerned about reducing their maintenance costs, and subsequently, carbon footprint.

Smart appliances such as refrigerators and dishwashers are equipped with features such as Wi-Fi and mobile connectivity, artificial intelligence integration, touchscreen controls, attached cameras inside to scan food types for refrigeration purposes, and more. Additionally, the robust mobile penetration rate and connectivity options such as mobile data or Wi-Fi increase the demand for the segment.

For instance, in May 2022, Samsung Electronics Ltd launched its smart washing machine with artificial intelligence, mobile application connectivity, and support. Besides, in August 2022, Samsung Electronics Ltd. launched its smart refrigerators with an inbuilt Bixby assistant in India. The refrigerators recognize voice commands and offer personalized information. Additionally, it is convenient for customers to monitor the refrigerator remotely via mobile and in-built use camera to digitally label food products with expiry dates.

The COVID-19 pandemic has also contributed to the growth of the smart home industry as more people are spending time at home and looking for ways to make their homes more comfortable and convenient. With the rise of remote work and the need for more connected devices, the demand for smart home hardware is anticipated to grow in the forecast period. Additionally, as people spend more time at home, there has been an increased demand for smart home devices that make life easier, more convenient, and safer.

For instance, the Indian Government’s Smart Cities mission, which aims to transform urban areas into technologically advanced and sustainable cities, also drives the growth of India's smart home hardware market. This initiative has increased homeowners' adoption of smart home devices as they seek to create more efficient and eco-friendly homes.

Smart Home Hardware Market Report Highlights

  • The smart appliances segment led the market in 2022, accounting for over 36% of the global revenue due to the increasing development of IoT technology. The IoT, driven by certain influential technological developments, is on its way to becoming the next technological wave
  • The smart kitchen appliances sub-segment of smart appliances segment led the market in 2022, accounting for over 50% share of the global lighting controls revenue. Several factors are driving the growth of smart kitchen appliances, including advances in electronics, sensor technology, wireless technology, LED adoption, and smart street lighting
  • The HVAC sub-segment of the smart appliances segment is predicted to foresee significant growth in the forecast years. The HVAC market continues to grow due to constructional growth in developing and developed regions
  • The North America region held the largest revenue share of over 38% in 2022. The growing demand for low-carbon-emission-oriented and energy-saving solutions propels the smart home hardware industry in the region

Table of Contents

Chapter 1 Methodology And Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Information Analysis
1.3.2 Market Formulation & Data Visualization
1.3.3 Data Validation & Publishing
1.4 Research Scope And Assumptions
1.4.1 List To Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Smart Home Hardware Market Variables And Trends
3.1 Market Lineage Outlook (Smart Home Market)
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market Driver Impact Analysis
3.4.1.1 Growing Need For Smart Security & Surveillance Systems
3.4.1.2 Increasing Disposable Income And Inclination For Smart And Luxurious Lifestyle In Developing Countries
3.4.2 Market Restraint Impact Analysis
3.4.2.1 High Installation And Maintenance Charges
3.4.2.2 Compatibility Issues Of Smart Devices From Various Manufacturers Or Vendors
3.4.3 Industry Challenges
3.4.4 Industry Opportunities
3.5 Impact Of COVID-19 Pandemic
3.6 Industry Analysis Tools
3.6.1 PORTER’S Analysis
3.6.2 Macroeconomic Analysis
Chapter 4 Consumer Behavior Analysis
4.1 Consumer Trends & Preferences
4.1.1 Voice Control & Integration With Smart Speakers
4.1.2 Customization
4.1.3 Security And Privacy
4.1.4 Energy Efficiency
4.2 Factors Affecting Buying Decision
4.2.1 Price
4.2.2 Ease Of Use
4.2.3 Brand Reputation
4.3 Consumer Application Adoption
4.4 Observations & Recommendations
Chapter 5 Smart Home Hardware Market: Type Estimates & Trend Analysis
5.1 Smart Home Hardware Market, By Type: Key Takeaways
5.2 Type Movement Analysis & Market Share, 2022 & 2030
5.3 Smart Home Hardware Market Estimates & Forecast, By Type (Revenue, USD Million)
5.4 Control & Connectivity Devices
5.4.1 Control & Connectivity
5.4.1.1 Lighting Control
5.5 Security & Surveillance Equipment
5.5.1 Security & Surveillance Equipment
5.6 Smart Appliances
5.6.1 Smart Appliances
5.6.1.1 HVAC
5.6.1.2 Smart Kitchen Appliances
Chapter 6 Smart Home Hardware Market: Regional Estimates & Trend Analysis
6.1 Smart Home Hardware Market: Regional Outlook
6.2 North America
6.2.1 North America Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.2.2 U.S.
6.2.2.1 U.S. Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.2.3 Canada
6.2.3.1 Canada Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.3 Europe
6.3.1 Europe Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.3.2 Uk
6.3.2.1 Uk Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.3.3 Germany
6.3.3.1 Germany Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.3.4 France
6.3.4.1 France Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.4 Asia Pacific
6.4.1 Asia Pacific Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.4.2 China
6.4.2.1 China Smart Home Harware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.4.3 Japan
6.4.3.1 Japan Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.4.4 India
6.4.4.1 India Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.5 Central & South America
6.5.1 Central & South America Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.5.2 Brazil
6.5.2.1 Brazil Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.5.3 Argentina
6.5.3.1 Argentina Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.6 Middle East & Africa
6.6.1 Middle East & Africa Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.6.2 Saudi Arabia
6.6.2.1 Saudi Arabia Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
6.6.3 South Africa
6.6.3.1 South Africa Smart Home Hardware Market Estimates & Forecasts, 2017 - 2030 (Revenue USD Million)
Chapter 7 Smart Home Hardware Market - Competitive Landscape
7.1 Recent Developments & Impact Analysis, By Key Market Participants
7.2 Company Categorization
7.3 Participant’s Overview
7.4 Financial Performance
7.4.1 Appendix
7.5 Product Benchmarking
7.6 Smart Home Hardware Control & Connectivity Devices Market - Company Market Share Analysis, 2022
7.7 Smart Home Hardware Security & Surveillance Equipment Market - Company Market Share Analysis, 2022
7.8 Smart Home Hardware Appliances Market -Company Market Share Analysis, 2022
7.9 Company Heat Map Analysis
7.10 Strategy Mapping
7.10.1 Expansion
7.10.2 Mergers & Acquisition
7.10.3 Collaborations
7.10.4 New Product Launches
7.10.5 Research & Development
List of Tables
Table 1 Global smart home hardware market size estimates & forecasts, 2017 - 2030 (USD Million)
Table 2 Global smart home hardware market, by region, 2017 - 2030 (USD Million)
Table 3 Global Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 4 Control & Connectivity smart home hardware market, by region, 2017 - 2030 (USD Million)
Table 5 Lighting Control smart home hardware market, by region, 2017 - 2030 (USD Million)
Table 6 Security & surveillance equipment smart home hardware market, by region, 2017 - 2030 (USD Million)
Table 7 Smart Appliances smart home hardware market, by region, 2017 - 2030 (USD Million)
Table 8 HVAC smart home hardware market, by region, 2017 - 2030 (USD Million)
Table 9 Smart kitchen appliances smart home hardware market, by region, 2017 - 2030 (USD Million)
Table 10 North America Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 11 U.S. Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 12 Canada Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 13 Europe Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 14 UK Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 15 Germany Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 16 France Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 17 Asia Pacific Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 18 China Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 19 Japan Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 20 India Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 21 Central & South America Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 22 Brazil Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 23 Argentina Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 24 MEA Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 25 Saudi Arabia Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
Table 26 South Africa Smart Home Hardware Market, by Type, 2017 - 2030 (USD Million)
List of Figures
Fig. 1 Smart Home Hardware Market Segmentation
Fig. 2 Information Procurement
Fig. 3 Data Analysis Models
Fig. 4 Market Formulation and Validation
Fig. 5 Data Validating & Publishing
Fig. 6 Market Snapshot
Fig. 7 Segment Snapshot
Fig. 8 Competitive Landscape Snapshot
Fig. 9 Smart Home Hardware Market Value, 2022 (USD Billion)
Fig. 10 Key opportunity analysis
Fig. 11 Smart home hardware - Industry Value Chain Analysis
Fig. 12 Smart Home Hardware Market Dynamics
Fig. 13 Smart Home Hardware Market: PORTER’s Analysis
Fig. 14 Smart Home Hardware Market: PESTEL Analysis
Fig. 15 Smart Home Hardware Market, by Type: Key Takeaways
Fig. 16 Smart Home Hardware Market, by Type: Market Share, 2022 & 2030
Fig. 17 Control & connectivity devices market estimates & forecasts, 2017 - 2030 (Revenue, USD Million)
Fig. 18 Security & Surveillance Equipment market estimates & forecasts, 2017 - 2030 (Revenue, USD Million)
Fig. 19 Smart appliances market estimates & forecasts, 2017 - 2030 (Revenue, USD Million)
Fig. 20 Smart home hardware market revenue, by region, 2022 & 2030 (USD Million)
Fig. 21 Regional marketplace: Key takeaways
Fig. 22 Regional marketplace: Key takeaways
Fig. 23 North America smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 24 U.S. smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 25 Canada smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 26 Europe smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 27 UK smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 28 Germany smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 29 France smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 30 Asia Pacific smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 31 China smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 32 Japan smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 33 India smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 34 Central & South America smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 35 Brazil smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 36 Argentina smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 37 Middle East & Africa smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 38 Saudi Arabia smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 39 South Africa smart home hardware market estimates & forecast, 2017 - 2030 (Revenue USD Million)
Fig. 40 Key Company Categorization
Fig. 41 Company Smart Home Hardware Control & Connectivity Devices Market Share Analysis, 2022
Fig. 42 Company Smart Home Hardware Security & Surveillance Equipment Market Share Analysis, 2022
Fig. 43 Company Smart Home Hardware Appliances Market Share Analysis, 2022
Fig. 44 Strategic framework

Companies Mentioned

  • Google LLC
  • Amazon.Com Inc.
  • Honeywell Corporation Inc.
  • Schneider Electric SE
  • Johnson Control Inc.
  • ABB Ltd.
  • Legrand
  • Panasonic Corporation
  • Samsung Electronics Co. Ltd.
  • General Electric Company

Methodology

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Table Information