Smart Home Devices Market 2022 | Scope of Current and Future Industry 2031

smart home devices price benchmark key regions by segments, 2021-2031

Global smart home devices sales is expected to grow at a healthy CAGR of over 18% during the study forecast period 2021-2031, despite a period of less growth in 2020, according to a latest study by ESOMAR-certified market research firm, Future Market Insights. The research study tracks smart devices sales in 20+ countries, offering a lucid analysis on how growth trend will unfold.

The smart home devices market is currently exhibiting growth at an impressive pace. Due to the increasing popularity of technological advancements, device and appliance manufacturers now have the focus on fostering smarter homes. Advanced automated systems such as monitor lighting, temperature, multi-media, security shields, entertainment systems, window and door operations, and others, which can be operated by users through smartphones and computers are being launched. Focus on smart home technologies is expected to rise, paving way for the expansion of smart home devices market.

Future Market Insight’s latest edition of the study offers comprehensive insights into the market trends, value (US$ Bn) projections, recent developments, and dynamics. The report tracks the global value of smart home devices market in various high-growth countries across regions such as South Asia & Pacific, Middles East, and Latin America offering the most profitable opportunities to stakeholders. The report also analyzes the impact COVID-19 has had on the economy in general, and thermal printing in particular.

Request a report sample to obtain authentic analysis and comprehensive market insights at-

Expansion of online stores is helping the smart home devices sales to pick up. Besides this, collaboration efforts and strategic tie-ups undertaken by the leading players are likely to create growth opportunities for the market.” says an FMI analyst.

Key Takeaways from the smart home devices Market Study

  • Driven by increasing demand for connected devices, the global smart home devices market is poised to reach US$ 42 Bn by 2021
  • As an early adopter, the U.S. will emerge as a key market, accounting for over 17% of global sales of smart home devices
  • Backed by high spending power of consumers, the U.K. market will exhibit an impressive y-o-y growth at a little above 17%
  • Germany and France will continue exhibiting high demand for smart home devices in Europe
  • Japan will remain a lucrative market in East Asia besides China

Green Building Initiatives Paving Way for Growth

Green building initiatives undertaken by several countries around the world have been creating lucrative growth opportunities.For instance, in India the government is providing certain incentives to IGBC which is a council in India implementing certain initiatives to build sustainable and eco-friendly buildings. These initiatives have played a major role in Kohinoor Hospital in Mumbai, which is a remarkable example of the green building initiative.

Discover more about report analysis with figures and data tables, along with the table of contents. Ask for Customization-

Competitive Landscape

Some of the prominent players in global smart home devices market include Samsung electronics Co. Ltd, LG Electronics, Siemens AG, Samsung electronics Co. Ltd, Honeywell International Inc., Schneider Electric, Koninklijke Philips N. V, Inc., Robert Bosch GmbH, Apple Inc., Nest Labs, UNITED TECHNOLOGIES, Panasonic Corporation, Sony Corporation, and Midea Group.

The players have opportunities to generate sales and improve their position in the smart devices market by implementing latest ideas into their products. They also can widen their distribution methods by collaborating with the industries. There is incredible focus on staying up-to-date with the latest technologies. Therefore, product launches are a common strategy as market players seek to offer state-of-the art technologies to their consumers.

For instance,

  • Apple, one of the pioneers of smart home devices, has been working on combining TV Box and HomePod speakers to revive their smart home efforts.
  • In 2019, Google launched Google Assistant Connect with the intent of wooing smart home device manufacturers. This launch was intended to make it easier for companies to integrate Google Assistant technology into their products.
  • In 2020, Panasonic launched its IoT and artificial intelligence-enabled platform called Miraie in India, through which it plans to introduce a wide range of connected air conditioners, switches, and smart door bells in India.

Smart Home Devices Market by Category

Product Type

  • Security Lighting Control Smart Home Device
    • Dimmers
    • Switches
    • Sensors
  • Access Control Smart Home Device
    • Video Surveillance
    • Access Control
    • Fire and Smoke Detectors
  • HVAC Control Smart Home Device
    • Smart Thermostats
    • Heating and Cooling Coils
  • Entertainment and Other Control Smart Home Device
    • Audio, Volume, & Multimedia Controls
    • Home Theater System Controls
    • Others
  • Kitchen & Home Appliances
    • Smart Refrigerators
    • Smart Vacuum Cleaners
    • Smart Coffee Makers
    • Others
  • Healthcare Smart Devices
    • Fitness Tracker
    • Blood Pressure Monitor System

Price Range

  • Below US$ 25 Smart Home Device
  • US$ 25-35 Smart Home Device
  • Above US$ 35 Smart Home Device

Sales Channel

  • Direct Sales
  • Mono Brands
  • Supermarkets/Hypermarkets
  • Department Stores
  • Specialty Stores
  • Online Retailers
  • Other Sales Channel

Contact Sales for Further Assistance in Purchasing this Report-

Key Questions Answered in the Report

  • What is the Smart Home Devices market size?The global smart home devices market is expected to register a CAGR of 18.7% during the forecast period 2021-2031. As per Future Market Insights, the global smart home devices market valuation is around US$ 42 billion in 2021.
  • Which is the most lucrative market for smart home devices?The U.S. is exhibiting considerably high demand within the global market for smart home devices. Sales in the U.S. is expected to account for a notable share of 72.5% of sales within North America.
  • Which are some of the leading companies in the Smart Home Devices market?Some of the leading companies in Smart Home Devices market are Samsung electronics Co. Ltd, LG Electronics, Siemens AG, Samsung electronics Co. Ltd, Honeywell International Inc., Schneider Electric, Koninklijke Philips N. V, Inc., Robert Bosch GmbH, Apple Inc., Nest Labs, UNITED TECHNOLOGIES, Panasonic Corporation, Sony Corporation, Midea Group and among others.
  • Which is the top-selling smart home device?As per FMI, the demand for entertainment and other control smart home devices is considerably high, accounting for maximum sales in the smart home devices market.

Contact Us:                                                                            

Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries:
For Media Enquiries:

Posted on

Leave a Reply

Your email address will not be published. Required fields are marked *