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Smart Home Market Share

Report ID: GMI10013
Published Date: Jun 2024
Report Format: PDF

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Smart Home Market Share

Key players involve in the smart home industry are Apple Inc., Emerson Electric Co., Google LLC, Haier Group, Samsung accounting market share of 30-35% in 2023. Established smart home manufacturers have often been in the market for longer and have established a reputation for dependability and quality. They frequently have a track record of providing consistent products and services.

They also provide a complete selection of Smart Home Automation solutions and customer assistance due to their partnerships and integrations with a variety of third-party products and services. This improves compatibility across various smart devices and platforms, giving users greater freedom and trustworthy alternatives. In contrast, well-known smart home companies tend to be more expensive than upstart alternatives. The higher price may be attributed to their established reputation, numerous features, and broader product offering.

Smart Home Market Companies

Major companies operating in the smart home industry include:

ABB
Apple Inc.
Crestron Electronics, Inc.
Emerson Electric Co.
Gira
Google LLC
Haier Group
Honeywell International Inc.
Johnson Control
Nice Polska Sp. z o.o.
Panasonic Corporation
Robert Bosch Smart Home GmbH
Samsung
Schneider Electric
Xiaomi

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The smart home market was valued at around USD 168.9 Billion in 2023 and is anticipated to register a 10.3% CAGR between 2024 to 2032, owing to the security and efficiency offered by smart home solutions.

The security & access controls segment of the market will reach around USD 110.1 Billion by 2032, owing to the escalating installations of conventional CCTVs by property owners to protect their families and employees.

North America smart home market was worth around USD 64.1 Billion in 2023 and expected to reach around USD 132.8 Billion by 2032., attributed to the growing consumer interest in smart home devices.

ABB, Apple Inc, Crestron Electronics, Inc, Emerson Electric Co, Gira, Google LLC, Haier Group, Honeywell International Inc, Johnson Control on among others.