Smart Home - North America
North America- The Smart Home market in North America is projected to see a significant increase in revenue, with estimates suggesting it will reach US$43.7bn by 2024.
- This growth is expected to continue at an annual rate of 9.25% (CAGR 2024-2028), resulting in a projected market volume of US$62.3bn by 2028.
- Furthermore, the number of active households in the Smart Home market is anticipated to reach [users_currentlayer_yearend] by 2028.
- This indicates a steady increase in household penetration, which is expected to rise from 43.5% in 2024 to 63.9% by 2028.
- Currently, the average revenue per installed Smart Home market is estimated to be US$537.30.
- It is worth noting that United States generates the highest revenue in the global Smart Home market, with US$38.8bn expected in 2024.
- In North America, the smart home market is experiencing a surge in demand for voice-controlled devices like Amazon Echo and Google Home.
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)
