CHICAGO, May 19, 2025 /PRNewswire/ -- The global Smart Home Market is projected to be valued at USD 100.42 billion in 2023 and reach USD 537.01 billion by 2030, growing at a CAGR of 27.07% according to a new report by The Research Insights. The rise in internet users and smart device adoption alongside more disposable income in emerging markets as well as general safety and security concerns drive the growing demand for smart home systems.
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Convergence of Smart Platforms, Hardware, and Services Driving an Integrated Smart Home Ecosystem
A major shift is occurring in the Global Smart Home Market because consumers are seeking seamless connectivity along with automated and centralized control throughout their homes. The transformation of smart home ecosystems emerges from combining smart platforms with devices and services into cohesive systems. As highlighted in the Smart Home Platforms Market, interoperable platforms now allow users to manage lighting systems and HVAC alongside security and appliances via a unified control platform that typically incorporates voice command capabilities and AI-based automation features.
Smart sensors and controllers alongside professional installation services are rapidly expanding connected living according to the Smart Home Hardware Market, the integrated approach extends application areas to include energy management alongside predictive maintenance and elderly care beyond basic convenience functions. The Ambient Assisted Living and Smart Home Market Report further illustrates how changing demographics and aging populations create increased demand for smart home technologies that enable independent living through fall detection systems, remote health monitoring services, and emergency alert capabilities which elevate smart homes from lifestyle amenities to essential daily support systems.
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Escalating Demand for Smart Home Security and AI-Enabled Surveillance Accelerates Market Growth
The adoption of smart home solutions depends heavily on security which consumers value because it provides peace of mind through remote monitoring capabilities and automated emergency responses aided by AI detection systems. The Smart Home Security Camera Market Report reveals that technological advancements in connected cameras along with motion sensors and video analytics promote extensive use among both urban and suburban homes.
The UK Smart Home Security Camera Market Report together with the other reports indicate significant growth in demand for both DIY and professionally installed security systems due to heightened crime awareness and smart city developments. According to the North America Smart Home Security Camera Market Report privacy-conscious consumers in North America are choosing encrypted cloud-connected cameras because they offer AI-based object recognition and real-time alerts.
Smart Home Automation Market Report reveals how home security systems are merging with broader automation to create integrated solutions that enable lights, locks and alarms to adapt dynamically to security events. This combined effect boosts home safety while encouraging customers to repurchase and stay loyal to platforms which enhances the business potential of fully integrated smart home systems.
By Based on Product, the market is divided into Security & Access Controls, Lighting Control, Entertainment Devices, HVAC, Smart Kitchen Appliances, Home Appliances, Smart Furniture, Home Healthcare, and Other Devices. In the previous year the security and access control segment demonstrated industry dominance by generating more than 30.40% of total revenue. The Security & Access Controls segment leads the smart home product category because people need more advanced home security solutions like smart locks, surveillance cameras, and alarm systems. The safety-focused consumer market has expanded thanks to new technologies in AI-driven video analysis and remote monitoring systems. The home healthcare market segment will experience substantial growth throughout the forecast period. Devices for home healthcare enable both emergency support and remote health observation for chronically ill and elderly people which shows the growing emphasis on wellness and telehealth practices.
By Based on Protocols, the market is divided into Wireless Protocols, Wired Protocols, and Hybrid. The Wireless Protocols Segment demonstrates strong growth potential and holds a dominant market position because these protocols provide easy installation and flexible usage. Wi-Fi, Zigbee, Z-Wave, and Bluetooth protocols provide strong connectivity and compatibility between various smart devices which makes smart home systems both scalable and user-friendly.
By Based on Application, the market is divided into New Construction, and Retrofit. The report predicts rapid expansion in the new construction segment for the upcoming forecast period. Smart home device integration at construction sites has become simpler which directly improves the building experience. The expanding quantity of residential construction projects across the globe will push the need for smart homes because advanced security systems and access solutions which focus on user convenience and safety are becoming more popular.
More homeowners are selecting smart home systems with multiple devices because these installations improve logistical convenience. The retrofit market segment maintained the predominant position in the global market with most of the revenue originating from this segment. The majority of homeowners decide to enhance their current residences by adding one or multiple smart products influenced by product availability and financial limitations. This increasing preference for smart home technology is fueling expansion within the market.
By Geography, the Asia Pacific smart home market shows potential for substantial development with a predicted compound annual growth rate (CAGR) of 32.21% in the upcoming years. The increase in regional living standards alongside growing personal disposable incomes explains the exceptional market expansion. Markets experience increased traction because of the widespread use of smartphones and high-speed internet along with other advanced digital devices. The market expansion is seeing significant impacts from the widespread use of AI-driven digital assistants which perform daily tasks through voice commands like those found in Siri and Alexa.
European smart home market shows potential for consistent expansion. Major players including ABB, Legrand, Schneider Electric SE, Siemens, Robert Bosch GmbH alongside other contributors have driven the region's success. The regional market advances because of the combination of rising living standards and high GDP figures along with a technology-aware population and government-supported programs that boost smart home device demand.
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The key players in the Smart Home Market include, LG Electronics, Inc. (South Korea), Siemens AG (Germany), Amazon.com, Inc. (United States), Google Nest (Google LLC) (United States), Samsung Electronics Co., Ltd. (South Korea), Schneider Electric SE (France), Legrand SA (France), Robert Bosch GmbH (Germany), Assa Abloy AB (Sweden), Sony Group Corp. (Japan), ABB Ltd. (Switzerland), Signify N.V. (Netherlands), Honeywell International, Inc. (United States).
Amazon.com, Inc. (United States):
The global smart home market sees Amazon as a top competitor thanks to its wide Echo product range which works with the Alexa voice assistant. Amazon has become a leading ecosystem provider because Alexa delivers powerful voice recognition technology while supporting numerous third-party smart home devices. Amazon maintains its industry-leading position in consumer smart home technology through its ongoing development of smart speakers and displays alongside security cameras and home automation systems. Amazon allows users to effortlessly manage their connected homes through collaborations with device manufacturers and its rapidly expanding skills library. Amazon stands at the heart of smart home technology development and market growth through its cloud infrastructure and AI capabilities that improve device responsiveness and user experience.
Google LLC (United States):
The smart home market recognizes Google as a major player because of its successful Nest products and Google Assistant technology. Nest delivers a full suite of smart thermostats and security devices such as cameras, doorbells, and smoke detectors which stand out due to their attractive design and integrated systems. The core advantage of Google resides in its AI-based Google Assistant platform which utilizes natural language processing to provide intuitive voice control functionality for smart home devices. Google utilizes its extensive cloud computing capabilities and machine learning prowess to enhance smart home automation along with predictive functionalities. The Android ecosystem developed by Google together with its dedicated developer community supports rapid adoption and innovative progress in smart home technology. The company's dedication to maintaining privacy and security standards helps build trust among consumers who use its smart home products.
Samsung Electronics Co., Ltd. (South Korea):
The SmartThings platform from Samsung stands out in the smart home market as a compelling IoT hub that links multiple devices across distinct brands and standards. Samsung provides users complete control over their home settings through its range of smart home products including connected appliances smart TVs sensors and lighting solutions. Through AI and IoT technology integration the company achieves better automation and customization capabilities along with extensive market penetration from its global reach. Samsung combines its software and hardware skills to build an ecosystem where devices communicate and operate together effectively. SmartThings platform development advances to meet the increasing consumer need for home solutions that offer smart technologies and interoperability.
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Smart Home Market Recent Developments and Innovations:
- In February 2025, Amazon.com, Inc. introduced Alexa+, a new generation of its AI-powered virtual assistant. The upgraded Alexa+ virtual assistant uses Amazon Bedrock models such as Nova and Anthropic's Claude AI to integrate generative AI capabilities which enable more natural conversations along with improved contextual understanding and multi-command handling. The platform delivers customized experiences by storing user preferences and functions as a self-operating "agent" to manage tasks such as reservations and repairs.
- In September 2024, The Wiser Home app from Schneider Electric SE now includes an AI-enabled energy management function that optimizes energy use specifically for water heaters and EV chargers. The company developed this in-house feature which utilizes AI to analyse user habits together with weather forecasts and tariff data to control energy loads while minimizing electricity bills.
- In August 2024, During IFA 2024 LG Electronics introduced the ThinQ AI Home Hub as a revolutionary advancement in connected home technology. The hub serves as the main management centre for operating and supervising all smart home devices while improving home convenience and connectivity. The ThinQ AI Home Hub stands out with sophisticated AI technology that adapts to user preferences to deliver custom services while optimizing daily activities which represents LG's significant advancement towards smart home solutions.
- In August 2023, Yale Assure Smart Deadbolts provide multiple choices to suit your specific requirements. These locks provide keyless entry and touchscreen interfaces alongside compatibility with smart home systems including Amazon Alexa, Google Assistant, or Apple HomeKit. The range of Yale models includes features spanning from the Yale Assure Lock SL to the Yale Assure Lock Touchscreen Deadbolt.
- In July 2023, SAMRIDHI GROUP entered into a memorandum of understanding (MoU) with Schneider Electric. They will deliver sustainable smart home options with technological advancements. The partnership enables SAMRIDHI GROUP to develop residential developments that prioritize energy conservation and environmental benefits through Schneider Electric's Wiser Smart Home Solution, Unica Pure wiring devices, and low-voltage switchgear.
- In January 2023, the acquisition of AVEVA plc by Schneider Electric provided access to advanced software capabilities that enabled the company to develop modern automation solutions for residential buildings and commercial complexes. This acquisition will help Schneider Electric expand its range of home automation products.
- In April 2022, ABB Ltd. announced a partnership with Samsung Electronics Co., Ltd. to develop its range of home automation products. The partnership allows new clients to save money while producing environmental benefits.
- In September 2022, Lutron Electronics Co., Inc. introduced its Diva Smart Dimmer and Claro Smart Switch which enable smart lighting automation throughout homes with the added benefit of wireless connectivity.
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Conclusion:
The smart home market keeps expanding strongly as consumer demand rises for features like convenience, energy efficiency, security, and digital integration. The market showcases quick development through smart lighting and HVAC systems to advanced security solutions while covering entertainment and voice-controlled assistants for application in residential buildings and multi-unit housing. North America exhibits the highest adoption rates due to advanced consumer knowledge and infrastructure preparedness while the Asia Pacific region sees swift expansion driven by urbanization trends alongside increased consumer incomes and governmental smart city projects.
Advancements in AI, IoT, machine learning, interoperability protocols and wireless communication technologies demonstrate the sector's shift to smarter adaptive interconnected living environments. The market struggles with persistent issues including data privacy concerns along with high installation costs and interoperability problems between devices from various manufacturers.
The Research Insights report presents essential strategic recommendations for various stakeholders such as device manufacturers, software developers, service providers, and investors to maximize opportunities while addressing potential risks within the smart home ecosystem.
The Smart Home Market will surpass US$ 537.01 billion in value by 2030 creating vast possibilities for innovative products and business expansion. Businesses that focus on meeting consumer demands while prioritizing cybersecurity and creating scalable user-friendly solutions hold a competitive advantage in this rapidly evolving market.
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