Global: smart home market revenue 2019-2028

The global revenue in the smart home market was forecast to continuously increase between 2023 and 2028 by in total 96.7 billion U.S. dollars (+71.74 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 231.6 billion U.S. dollars and therefore a new peak in 2028. Notably, the revenue of the smart home market was continuously increasing over the past years.

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Revenue of the smart home market worldwide from 2019 to 2028 (in million U.S. dollars)

Characteristic	Revenue in million U.S. dollars
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Supplementary notes

Data provided by Statista Market Insights are estimates.

The Smart Home market constitutes the sale of networked devices and related services that enable home automation for private end users (B2C). Considered are devices that are connected directly or indirectly via a so-called gateway to the Internet. Their main purposes are the control, monitoring and regulation of functions in a private household.

The remote control and monitoring of individual devices and, if applicable, their direct communication with one another (Internet of Things), is an essential component of intelligent home automation. Therefore, services which are necessary for the maintenance or control of the household network are also considered, e.g. subscription fees for control apps or external monitoring services.

Devices whose primary function is not the automation or remote control of household equipment, e.g. smartphones and tablets, are not included here. Similarly, devices that relate to household connection and remote control only to a limited extent, such as smart TVs, are not included either.

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