Smart Home Market Size in the US to Grow by USD 18.18 bn

NEW YORK, March 28, 2022 /PRNewswire/ — The “Smart Home Market In US by Technology (Wireless and Wired) and Application (Home entertainment, Smart appliances, Energy management, Lighting control system and HVAC, and Safety and security system) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has been proudly partnering with more than 100 Fortune 500 companies for over 16 years.

Technavio has announced its latest market research report titled Smart Home Market in US by Technology and Application- Forecast and Analysis 2022-2026

Technavio has announced its latest market research report titled Smart Home Market in US by Technology and Application- Forecast and Analysis 2022-2026

The potential growth difference for the smart home market in US between 2021 and 2026 is USD 18.18 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics:

  • Market Driver

  • Market Challenges

The growing consumer interest in home automation is one of the key market drivers. The smart home market in the US is growing, mainly due to the rising need for a more comfortable and luxurious lifestyle. This can be achieved by implementing home automation across households. Shipments of smart home appliances totaled 2.88 million units in 2017 and are expected to increase to 35.83 million units by 2022, growing at a CAGR of 65.57% during 2017-2022. Professionally installed home automation systems start costing around USD 2,000 and can cost USD 10,000 or more, depending on the size of the system. Hence, as the demand for home automation systems increases across the world, there will be a rise in the demand for smart home devices, which will drive the market growth during the forecast period.

However, factors such as increase in issues related to interoperability will challenge market growth. For instance, in April 2019, August Home announced that it had to stop the sale of its smart home product View, owing to various complaints about its performance. The device was facing issues related to Wi-Fi connectivity, video feed, and video streaming. Smart security cameras can also be integrated with smart home devices, such as the Nest Protect smoke alarm, or platforms such as Amazon Alexa, Apple HomeKit, and Google Assistant. However, some smart security cameras do not support all types of smart devices and platforms. These factors could have a negative impact on the growth of the smart home market in the US during the forecast period.

To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!

The smart home market in US report is segmented by technology (wireless and wired) and application (home entertainment, smart appliances, energy management, lighting control system and HVAC, and safety and security system).

By technology, the wireless segment will have significant market share growth during the forecast period. The high demand for smart home products because of technological innovations will drive the growth of this segment in the coming years in the US. For instance, in January 2019, Samsung announced the launch of smart laundry with a washer and dryer equipped with a Bixby voice assistant.

View our sample report for additional insights into the contribution of all the segments and regional opportunities in the report.

Some Companies Mentioned

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Smart Home Market In US Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of almost 17.90%

Market growth 2022-2026

USD 18.18 billion

Market structure

Fragmented

YoY growth (%)

17.38

Regional analysis

US

Performing market contribution

US at 100%

Key consumer countries

US

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Allegion Plc, Alphabet Inc., Amazon.com Inc., Apple Inc., Honeywell International Inc., Johnson Controls International Plc, Panasonic Corp., Samsung Electronics Co. Ltd., and Schneider Electric SE

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1. Executive Summary

2. Market Landscape

2.1 Market ecosystem

Exhibit 01: Parent market

2.2: Market Characteristics

Exhibit 02: Market Characteristics

Exhibit 03: Value chain analysis: Communications equipment

2.2.1 Input

2.2.2 Inbound logistics

2.2.3 Operations

2.2.4 Outbound logistics

2.2.5 Marketing and sales

2.2.6 Service

2.2.7 Industry innovation

3. Market Sizing

3.1 Market definition

Exhibit 04: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 05: Market segments

3.3 Market size 2020

3.4 Market outlook: Forecast for 2020 – 2025

3.4.1 Estimating growth rates for emerging and high-growth markets

3.4.2 Estimating growth rates for mature markets

Exhibit 06: Global – Market size and forecast 2020 – 2025 ($ million)

Exhibit 07: Global market: Year-over-year growth 2020 – 2025 (%)

4. Five Forces Analysis

4.1 Five Forces Summary

Exhibit 08: Five forces analysis 2020 & 2025

4.2 Bargaining power of buyers

Exhibit 09: Bargaining power of buyers

4.3 Bargaining power of suppliers

Exhibit 10: Bargaining power of suppliers

4.4 Threat of new entrants

Exhibit 11: Threat of new entrants

4.5 Threat of substitutes

Exhibit 12: Threat of substitutes

4.6 Threat of rivalry

Exhibit 13: Threat of rivalry

4.7 Market condition

Exhibit 14: Market condition – Five forces 2020

5. Market Segmentation by Application

5.1 Market segments

The segments covered in this chapter are:

Exhibit 15: Application – Market share 2020-2025 (%)

5.2 Comparison by Application

Exhibit 16: Comparison by Application

5.3 Home entertainment – Market size and forecast 2020-2025

Exhibit 17: Home entertainment – Market size and forecast 2020-2025 ($ million)

Exhibit 18: Home entertainment – Year-over-year growth 2020-2025 (%)

5.4 Smart appliances – Market size and forecast 2020-2025

Exhibit 19: Smart appliances – Market size and forecast 2020-2025 ($ million)

Exhibit 20: Smart appliances – Year-over-year growth 2020-2025 (%)

5.5 Energy management – Market size and forecast 2020-2025

Exhibit 21: Energy management – Market size and forecast 2020-2025 ($ million)

Exhibit 22: Energy management – Year-over-year growth 2020-2025 (%)

5.6 Lighting control and HVAC – Market size and forecast 2020-2025

Exhibit 23: Lighting control and HVAC – Market size and forecast 2020-2025 ($ million)

Exhibit 24: Lighting control and HVAC – Year-over-year growth 2020-2025 (%)

5.7 Safety and security system – Market size and forecast 2020-2025

Exhibit 25: Safety and security system – Market size and forecast 2020-2025 ($ million)

Exhibit 26: Safety and security system – Year-over-year growth 2020-2025 (%)

Market opportunity by Application

Exhibit 27: Market opportunity by Application

6. Market Segmentation by Technology

6.1 Market segments

The segments covered in this chapter are:

Exhibit 28: Technology – Market share 2020-2025 (%)

6.2 Comparison by Technology

Exhibit 29: Comparison by Technology

6.3 Wireless – Market size and forecast 2020-2025

Exhibit 30: Wireless – Market size and forecast 2020-2025 ($ million)

Exhibit 31: Wireless – Year-over-year growth 2020-2025 (%)

6.4 Wired – Market size and forecast 2020-2025

Exhibit 32: Wired – Market size and forecast 2020-2025 ($ million)

Exhibit 33: Wired – Year-over-year growth 2020-2025 (%)

Exhibit 34: Market opportunity by Technology

Exhibit 35: Market opportunity by Technology

7. Customer landscape

Exhibit 35: Customer landscape

Drivers, Challenges, and Trends

8.1 Market drivers

8.1.1 Growing consumer interest in home automation

8.1.2 Availability of a wide range of smart home products

8.1.3 Rising need for energy conservation

8.2 Market challenges

8.2.1 Increase in issues related to interoperability

8.2.2 Privacy issues with respect to data

8.2.3 Challenges associated with media storage

Exhibit 36: Impact of drivers and challenges

8.3 Market trends

8.3.1 Increasing development of technologically advanced products

8.3.2 Evolution of loT

8.3.3 Growing smartphone penetration and increasing Internet speed

9. Vendor Landscape

9.1 Competitive scenario

9.2 Vendor landscape

Exhibit 37: Vendor Landscape

9.3 Landscape disruption

Exhibit 38: Landscape disruption

9.4 Industry risks

Exhibit 39: Industry risks

11. Vendor Analysis

11.1 Vendors covered

Exhibit 40: Vendors covered

10.2 Market positioning of vendors

Exhibit 41: Market positioning of vendors

10.3 ABB Ltd.

Exhibit 42: ABB Ltd. – Overview

Exhibit 43: ABB Ltd. – Business segments

Exhibit 44: ABB Ltd. – Key news

Exhibit 45: ABB Ltd. – Key offerings

Exhibit 46: ABB Ltd. – Segment focus

10.4 Allegion Plc

Exhibit 47: Allegion Plc – Overview

Exhibit 48: Allegion Plc – Business segments

Exhibit 49: Allegion Plc – Key news

Exhibit 50: Allegion Plc – Key offerings

Exhibit 51: Allegion Plc – Segment focus

10.5 Alphabet Inc.

Exhibit 52: Alphabet Inc. – Overview

Exhibit 53: Alphabet Inc. – Business segments

Exhibit 54: Alphabet Inc. – Key offerings

Exhibit 55: Alphabet Inc. – Segment focus

10.6 Amazon.com Inc.

Exhibit 56: Amazon.com Inc. – Overview

Exhibit 57: Amazon.com Inc. – Business segments

Exhibit 58: Amazon.com Inc. – Key news

Exhibit 59: Amazon.com Inc. – Key offerings

Exhibit 60: Amazon.com Inc. – Segment focus

10.7 Apple Inc.

Exhibit 61: Apple Inc. – Overview

Exhibit 62: Apple Inc. – Business segments

Exhibit 63: Apple Inc. – Key news

Exhibit 64: Apple Inc. – Key offerings

Exhibit 65: Apple Inc. – Segment focus

10.8 Honeywell International Inc.

Exhibit 66: Honeywell International Inc. – Overview

Exhibit 67: Honeywell International Inc. – Business segments

Exhibit 68: Honeywell International Inc. – Key news

Exhibit 69: Honeywell International Inc. – Key offerings

Exhibit 70: Honeywell International Inc. – Segment focus

10.9 Johnson Controls International Plc

Exhibit 71: Johnson Controls International Plc – Overview

Exhibit 72: Johnson Controls International Plc – Business segments

Exhibit 73: Johnson Controls International Plc – Key news

Exhibit 74: Johnson Controls International Plc – Key offerings

Exhibit 75: Johnson Controls International Plc – Segment focus

10.10 Panasonic Corp.

Exhibit 76: Panasonic Corp. – Overview

Exhibit 77: Panasonic Corp. – Business segments

Exhibit 78: Panasonic Corp. – Key news

Exhibit 79: Panasonic Corp. – Key offerings

Exhibit 80: Panasonic Corp. – Segment focus

10.11 Samsung Electronics Co. Ltd.

Exhibit 81: Samsung Electronics Co. Ltd. – Overview

Exhibit 82: Samsung Electronics Co. Ltd. – Business segments

Exhibit 83: Samsung Electronics Co. Ltd. – Key news

Exhibit 84: Samsung Electronics Co. Ltd. – Key offerings

Exhibit 85: Samsung Electronics Co. Ltd. – Segment focus

10.12 Schneider Electric SE

Exhibit 86: Schneider Electric SE – Overview

Exhibit 87: Schneider Electric SE – Business segments

Exhibit 88: Schneider Electric SE – Key news

Exhibit 89: Schneider Electric SE – Key offerings

Exhibit 90: Schneider Electric SE – Segment focus

11. Appendix

11.1 Scope of the report

11.1.1 Market definition

11.1.2 Objectives

11.1.3 Notes and caveats

11.2 Currency conversion rates for US$

Exhibit 91: Currency conversion rates for US$

11.3 Research Methodology

Exhibit 92: Research Methodology

Exhibit 93: Validation techniques employed for market sizing

Exhibit 94: Information sources

11.4 List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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