Smart Home - G7
G7- The projected revenue in the Smart Home market in the G7 countries is expected to reach US$75.9bn in 2024.
- This forecast indicates a strong growth potential for the Smart Home market, with an estimated annual growth rate (CAGR 2024-2028) of 10.10%.
- As a result, the market volume is projected to amount to US$111.5bn by 2028.
- In terms of the number of active households, it is anticipated that there will be approximately [users_currentlayer_yearend] households in the G7 countries by 2028.
- This signifies a significant increase in household adoption of Smart Home market technology.
- The household penetration rate, which measures the proportion of households using Smart Home market devices, is projected to be 44.5% in 2024.
- However, this is expected to rise to 76.2% by 2028, indicating a growing interest and adoption of Smart Home market technology among households in the G7 countries.
- Currently, the average revenue per installed Smart Home market is estimated to be US$506.20.
- This figure reflects the average amount of revenue generated from each Smart Home market installation in the G7 countries.
- A global comparison reveals that United States is the leading market in terms of revenue generation in the Smart Home market industry.
- In 2024, it is projected that United States will generate US$38.8bn in revenue from the Smart Home market.
- This highlights the dominant position of the United States in this market segment.
- Overall, the Smart Home market in the G7 countries is poised for significant growth, with increasing revenue, household adoption, and market penetration.
- The United States stands out as the primary revenue generator in this market segment.
- In Japan, the smart home market is thriving with innovative and technologically advanced solutions that cater to the needs of the aging population.
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.
In-Scope
- Digitally connected and controlled devices within a house that can be remote controlled
- Sensors, actuators and cloud services that support automation in any way
- Control hubs to connect sensors and actuators with remote controls and to each other
- B2C hardware and software sales as well as subscription fees
Out-Of-Scope
- Smart TVs
- B2B/C2C sales of any kind (e.g. to hotels or office buildings)
