Control & Connectivity - Americas

Revenue in the Control & Connectivity market is projected to reach US$12.1bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.47%, resulting in a projected market volume of US$18.9bn by 2029.
In the Control & Connectivity market, the number of active households is expected to amount to 172.2m users by 2029.
Household penetration will be 25.2% in 2024 and is expected to hit 58.0% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$166.30.

Definition:

The Control & Connectivity market includes the essential equipment (connected and remote-control devices) and services that are part of an intelligent home network. The segment includes smart speakers (Amazon Echo, Google Home, etc.), central control and communication units (hub/gateway), programmable control buttons (e.g. wall switches and adjustable dials), and smart plugs for the control of non-smart devices.

Additional Information:

The market comprises revenue, average revenue per smart home, number of smart homes so as the household penetration rate by smart home, and key players. Figures are generated through both online and offline sales channels and include exclusive spending by consumers (B2C). Market leaders include Amazon and Google, renowned for their innovation, brand recognition, and expansive distribution channels within their respective categories. For more information on the data displayed, use the info button right next to the boxes.

Gateways/hubs that are capable of controlling devices of all segments (e.g., Smart Home Zigbee 3.0 Gateway Smik)
Smart speakers with a primary focus on control and digital assistants (e.g., Sonoro STREAM, Bose Smart Speaker 500)
Control buttons and smart plugs/sockets (e.g., TP-Link KE100 KIT, Aoycocr Wi-Fi Smart Socket)

Connected home appliances (see Smart Appliances)
Multiroom speaker systems with a primary focus on entertainment (see Home Entertainment)
Smartphones and tablets
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Control & Connectivity market in Americas is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory.

Customer preferences in the Control & Connectivity market in Americas are shifting towards more advanced and connected technologies. With the increasing adoption of smart devices and the Internet of Things (IoT), customers are seeking control and connectivity solutions that can seamlessly integrate with their devices and provide a seamless user experience. This has led to a growing demand for products and services that offer enhanced connectivity, such as smart home automation systems and industrial control systems.

Trends in the market indicate a strong focus on innovation and technological advancements. Companies in the Control & Connectivity market are investing heavily in research and development to bring new and improved products to the market. This includes the development of advanced control systems, wireless connectivity solutions, and cloud-based platforms.

Additionally, there is a growing trend towards the integration of artificial intelligence and machine learning technologies into control and connectivity systems, enabling them to learn and adapt to user preferences. Local special circumstances also play a role in the development of the Control & Connectivity market in Americas. The region is known for its strong emphasis on technological innovation and entrepreneurship, which creates a favorable environment for the growth of the market.

Additionally, the increasing urbanization and digitalization of cities in the region are driving the demand for control and connectivity solutions in various sectors, including smart homes, smart cities, and industrial automation. Underlying macroeconomic factors further contribute to the growth of the Control & Connectivity market in Americas. The region has a strong and stable economy, which provides a solid foundation for businesses to invest in new technologies and expand their operations.

Additionally, favorable government policies and initiatives aimed at promoting innovation and digitalization are creating a conducive environment for the market to thrive. In conclusion, the Control & Connectivity market in Americas is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As customers increasingly seek advanced and connected technologies, companies are investing in innovation and technological advancements to meet these demands.

The region's strong emphasis on technological innovation, increasing urbanization, and favorable macroeconomic conditions further contribute to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.