Smart Home and Smart Building Market was valued at USD 80 Billion in 2022 and is projected to reach USD 120 Billion by 2030, growing at a CAGR of 6% from 2024 to 2030.
The global smart home and smart building market was valued at approximately USD 80 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of around 24% from 2023 to 2028. This growth is driven by increasing consumer demand for energy-efficient solutions, enhanced security features, and the growing adoption of IoT (Internet of Things) technologies. The smart home sector, encompassing devices such as smart thermostats, lighting, and security systems, is expected to reach USD 120 billion by 2025, while the smart building segment, which includes advanced building management systems and automation technologies, is anticipated to surpass USD 150 billion by the same year. These segments reflect significant investment opportunities as technology advancements and consumer preferences evolve.
Emerging markets are playing a crucial role in the expansion of the smart home and smart building sectors. Regions such as Asia-Pacific and Latin America are experiencing rapid urbanization and infrastructure development, contributing to increased demand for smart solutions. The Asia-Pacific smart home market alone is estimated to grow at a CAGR of 26% from 2023 to 2028, driven by rising disposable incomes and technological advancements. Similarly, the smart building market in Latin America is gaining momentum due to the implementation of new construction projects and government incentives promoting smart technologies. The combination of technological innovation and favorable economic conditions in these emerging markets presents substantial growth prospects and investment opportunities in the smart home and smart building industry.
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Honeywell
ADT
Johnson Controls
Siemens
UTC
Schneider
Ingersoll Rand
Azbil
General Electric
Eaton
Legrand
ABB
Nortek
Crestron
Lutron
Leviton
Comcast
Acuity Brands
Alarm.com
Control4
Sonos
Savant
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Smart Home and Smart Building Market
Commercial Buildings
Residential Buildings
Government Buildings
Based on Types the Market is categorized into Below types that held the largest Smart Home and Smart Building market share In 2023.
Energy Management Systems
Security & Access Control
Lighting Control
Home Appliances Control
Entertainment Control
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Smart Home and Smart Building Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Smart Home and Smart Building Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Smart Home and Smart Building Market, By Type
6. Global Smart Home and Smart Building Market, By Application
7. Global Smart Home and Smart Building Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Smart Home and Smart Building Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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