Global Smart Home Automation Market size and share is currently valued at USD 74.28 billion in 2023 and is anticipated to generate an estimated revenue of USD 268.97 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 15.4% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Market Overview:
The smart home automation market is experiencing rapid expansion as consumers increasingly embrace connected living environments. Smart home automation refers to the use of IoT-enabled devices, artificial intelligence (AI), and cloud computing to control and monitor home functions such as lighting, security, heating, cooling, entertainment, and appliances.
Driven by advancements in wireless communication, voice assistants, and AI-powered automation, smart home solutions offer convenience, energy efficiency, security, and improved quality of life. The integration of smart sensors, cloud-based analytics, and remote-control capabilities has made home automation more accessible and user-friendly, further accelerating market adoption.
Key Trends in the Smart Home Automation Market:
- Growth of AI-Powered Home Assistants
AI-driven voice assistants are enhancing automation through personalized commands, predictive analytics, and machine learning capabilities, making home automation more intuitive. - Increasing Adoption of Smart Security and Surveillance
The demand for AI-based surveillance cameras, facial recognition doorbells, and biometric security systems is growing as homeowners prioritize safety and real-time threat detection. - Integration of Smart Appliances and Kitchen Automation
The rise of IoT-enabled refrigerators, ovens, and coffee makers is revolutionizing kitchen automation, offering remote control and predictive maintenance for household appliances. - Expansion of Smart Lighting and Climate Control Systems
Voice-activated lighting, automated blinds, and smart HVAC systems are gaining popularity, optimizing energy consumption and enhancing home comfort. - Emergence of Home Healthcare Automation
The use of remote health monitoring devices, AI-powered wearables, and smart medical alert systems is expanding, particularly for elderly care and chronic disease management. - Rise of Matter and Unified Smart Home Standards
The introduction of Matter, a universal smart home standard, is improving interoperability across different brands, enabling seamless device integration and user experience.
Major Key Players:
- Google LLC
- Ingersoll Rand
- Johnson Controls
- Legrand
- Leviton Manufacturing Co., Inc.
- Lutron Electronics Co., Inc
- Resideo Technologies, Inc.
- SAMSUNG
- Schneider Electric
- Shelly USA (Allterco Robotics US)
- Siemens
- Snap One, LLC
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/smart-home-automation-market
Recent Developments in the Smart Home Automation Market:
- January 2023 – Shelly Expands Smart Home Automation Portfolio
Shelly, a division of Allterco Robotics, introduced eight new smart home automation devices at the Consumer Electronics Show (CES) 2023. The new products, part of the Shelly Pro series, offer advanced automation features catering to both professional installers and DIY homeowners, enhancing the accessibility and functionality of smart home solutions. - October 2022 – ABB Launches SmartTouch 10” for Home Automation
ABB unveiled SmartTouch 10”, an innovative glass touch panel that seamlessly integrates smart home automation and ABB-Welcome door communication. Designed for a user-friendly experience, this device enhances home control, security, and automation within a single, interactive interface. - March 2023 – Johnson Controls Introduces IQ4 NS Smart Home Security System
Johnson Controls launched IQ4 NS (No Screen), a new smart home security system based on the IQ Panel 4 platform. Designed as an affordable, entry-level solution, IQ4 NS provides enhanced security and automation features, making smart home technology more accessible to a wider consumer base.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
Smart Home Automation Market, Component Outlook (Revenue – USD Billion, 2019-2032)
- Hardware
- Entertainment Control & Others
- HVAC Control
- Lighting Control
- Security & Access
- Smoke Detector
- Others
- Software & Solutions
- Services
Smart Home Automation Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Entertainment
- HVAC & Energy Management
- Lighting
- Security
- Smart Kitchen
- Others
Smart Home Automation Market, Technology Outlook (Revenue – USD Billion, 2019-2032)
- Wired
- Wireless
Smart Home Automation Market, Fitment Outlook (Revenue – USD Billion, 2019-2032)
- New Construction
- Retrofit
The smart home automation market is set for continued growth as technological advancements, affordability, and consumer awareness drive adoption. The integration of AI, IoT, and smart energy management will further enhance automation capabilities, making homes more intelligent and sustainable.
𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Offshore Support Vessels Market Share