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Report
Global Connected Home Devices Market Report and Forecast 2023-2028
Market Report I 2023-10-26 I 180 Pages I EMR Inc.
Global Connected Home Devices Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global connected home devices market is projected to grow at a CAGR of 10.7% between 2023 and 2028 to reach a value of USD 47.41 billion by 2028.. Aided by the escalating need for smart homes and the rising penetration of the Internet of Things (IoT) devices worldwide, the market is expected to grow significantly by 2028.
Connected home devices, often referred to as "smart home devices," encompass a variety of products that offer automation or remote control for home functions, including lighting, climate, entertainment, and security. These devices provide homeowners with increased convenience, energy efficiency, and security, transforming regular households into intelligent, interconnected environments.
The prominent factor propelling the connected home devices market growth is the growing aspiration for convenience and efficient home management. With rapid urbanisation and the proliferation of smart technologies, homeowners globally are leaning towards the adoption of technologies that simplify tasks, reduce energy costs, and offer superior security. In addition, the increasing ubiquity of smartphones and voice-controlled smart assistants has made the integration and control of these devices more seamless than ever.
As per the connected home devices market analysis, as safety and security become paramount in the modern world, the use of connected devices such as smart cameras, doorbells, and security systems has witnessed a surge. These devices offer real-time surveillance, notifications, and remote access, ensuring homeowners' peace of mind regardless of their location.
Another pivotal driver for the growth of the market is the environmental concern and the quest for energy efficiency. Devices such as smart thermostats, lighting, and energy monitors enable users to optimise their energy consumption, thereby promoting sustainable living, reducing monthly utility bills and further propelling the connected home devices market demand. With rising global awareness about sustainability and the environment, the adoption of such energy-efficient devices is poised to increase exponentially.
In addition to the individual residential sector, property developers and real estate magnates are incorporating connected home devices as a standard offering in new housing projects, thus amplifying the market's expansion. Such integrations in residential complexes cater to modern homebuyers' expectations, further solidifying the market's position. Furthermore, devices that monitor indoor air quality, and water purity, and even connected health devices like smart scales and sleep trackers, are being integrated into the home ecosystem and further increase the value of the connected home devices market size.
Market Segmentation
The market can be divided based on product, technology, and region.
Market Breakup by Product
- Lighting
- Fixtures
- Entertainment
- Speakers
- Television
- Security System
o Security Cameras
o Locks
o Alarm Systems
o Smart Thermostat
o Others
Market Breakup by Technology
- Device-Based
- Mobile
- Hybrid
- Technology Comparison Matrix
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global connected home devices market. Some of the major players explored in the report by Expert Market Research are as follows:
- Analog Devices, Inc.
- Honeywell International Inc.
- Panasonic Corporation
- SAMSUNG ELECTRONICS Co., Ltd.
- Siemens AG
- Sony Group Corporation
- GE Lighting (Savant Technologies LLC)
- Johnson Controls International plc
- LG Electronics
- Schneider Electric SE
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Connected Home Devices Market Analysis
8.1 Key Industry Highlights
8.2 Global Connected Home Devices Historical Market (2018-2022)
8.3 Global Connected Home Devices Market Forecast (2023-2028)
8.4 Global Connected Home Devices Market by Product
8.4.1 Lighting
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Fixtures
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Entertainment
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Speakers
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Television
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Security System
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.6.4 Breakup by Type
8.4.6.4.1 Security Cameras
8.4.6.4.2 Locks
8.4.6.4.3 Alarm Systems
8.4.6.4.4 Smart Thermostat
8.4.6.4.5 Others
8.5 Global Connected Home Devices Market by Technology
8.5.1 Device-based
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Mobile
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Hybrid
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Technology Comparison Matrix
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.6 Global Connected Home Devices Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyer's Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Analog Devices, Inc.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Honeywell International Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Panasonic Corporation
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 SAMSUNG ELECTRONICS Co., Ltd.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Siemens AG
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 GE Lighting (Savant Technologies LLC)
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Sony Group Corporation
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Johnson Controls International plc
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 LG Electronics
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 Schneider Electric SE
12.2.10.1 Company Overview
12.2.10.2 Product Portfolio
12.2.10.3 Demographic Reach and Achievements
12.2.10.4 Certifications
12.2.11 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Connected Home Devices Market: Key Industry Highlights, 2018 and 2028
2. Global Connected Home Devices Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Connected Home Devices Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Connected Home Devices Historical Market: Breakup by Technology (USD Million), 2018-2022
5. Global Connected Home Devices Market Forecast: Breakup by Technology (USD Million), 2023-2028
6. Global Connected Home Devices Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Connected Home Devices Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Connected Home Devices Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Connected Home Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Connected Home Devices Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Connected Home Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Connected Home Devices Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Connected Home Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Connected Home Devices Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Connected Home Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Connected Home Devices Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Connected Home Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Connected Home Devices Market Structure
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