Smart home subscription services: market size worldwide 2016-2022

The market revenue of smart home subscription services worldwide is predicted to reach almost 5.5 billion U.S. dollars by the end of 2019. Throughout the next few years, the revenue is expected to almost double and reach almost 10.8 billion U.S. dollars in by 2022.

One subscription, many items

In recent years, there has been a slight shift from a trend of per-device subscription services to more frequent offerings for a flat subscription rate per house, for any number of smart home devices. For example, Google, which is one of the top smart speaker vendors worldwide, introduced a single-tiered pricing model to cover all Nest items in a home.

Into the kitchen

Smart home subscriptions can be paired with items like smart kitchen appliances, for example, purchasing an item with an added subscription that provides access to a digital cookbook of recipes. In addition to subscription-based apps, other prominent high-tech features seen in upgraded kitchen appliances include wireless controls and color touchscreen display. The global market for smart kitchen appliances reached around 13.66 billion U.S. dollars in 2018.