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Smart Home Automation Market Trends

Report ID: GMI5685
Published Date: May 2023
Report Format: PDF

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Smart Home Automation Market Trends

Smart home devices are increasingly incorporating sensors and the Internet of Things (IoT) technologies to enable greater automation & intelligence. This includes sensors that detect motion, temperature & humidity and IoT-enabled devices that can be controlled remotely through a smartphone app or voice command. Additionally, with rising energy costs and growing concerns over climate change, the adoption of energy-efficient smart home devices, such as smart thermostats and lighting systems, is increasing.

Smart home devices including smart air purifiers, water filtration systems, and sleep trackers are being developed to promote health & wellness. This trend is attributed to the increasing recognition of the significance of a healthy living environment and the potential of technology to facilitate it.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The market size of smart home automation was over USD 60 billion in 2022 and will witness over 10% CAGR between 2023 and 2032.

The hardware segment will surpass USD 122.5 billion by 2032, driven by increasing adoption of smart home technologies.

North America market will observe over 11.5% CAGR from 2023 to 2032, due to the increasing adoption of voice assistants and smart speakers in the region.

ABB Ltd., Acuity Brands, Control4 Corporation, Crestron Electronics, Inc., Koninklijke Philips N.V, Legrand SA, Resideo Technologies, Samsung Electronics, Savanat Systems LLC, Schneider Electric, Siemens AG, Snap One, LLC.