Connected Homes Market is expected to robust at a CAGR of 10.9% through 2029
The global connected homes market is rising due to
increasing consumer demand for smart home technologies that enhance
convenience, security, and energy efficiency in the forecast period 2025-2029F.
According to TechSci Research report, “Connected Homes Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast 2029F", Global Connected Homes Market was valued at USD 90.4 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 10.9% through 2029. The increased focus on energy efficiency is a significant driver of the global connected homes market. As consumers and businesses aim to reduce energy consumption and lower utility costs, smart home technologies provide effective solutions for optimizing energy use. Devices such as smart thermostats, lighting controls, and energy management systems enable homeowners to monitor and manage their energy consumption more efficiently. For instance, smart thermostats learn user preferences and adjust heating and cooling schedules to maximize efficiency, while smart lighting systems can automatically turn off lights in unoccupied rooms.
The integration of energy management features in smart home systems also helps users track their energy usage patterns and identify opportunities for savings. These systems provide real-time data and insights, allowing users to make informed decisions about their energy consumption. Additionally, government incentives and regulations aimed at promoting energy efficiency further drive the adoption of connected home solutions. Programs offering rebates and tax credits for energy-efficient upgrades make smart home technologies more accessible to a broader audience. As the focus on sustainability and cost savings continues to grow, the demand for energy-efficient smart home technologies is expected to increase. This trend is supported by rising environmental awareness and the need for cost-effective solutions to manage household energy use. Consequently, the emphasis on energy efficiency is propelling the growth of the connected homes market, as more consumers and businesses recognize the benefits of smart home technologies in achieving energy savings and enhancing overall sustainability..
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spread through XX Pages and an in-depth TOC on the "Global Connected Homes Market"
Based on Component,
the Security Solution segment dominated the global connected homes market and
is anticipated to maintain its leading position throughout the forecast period.
This segment includes a comprehensive array of smart security components such
as surveillance cameras, smart locks, motion sensors, and integrated alarm
systems. The significant emphasis on enhancing home security and safety has
driven widespread adoption of these technologies. As consumer concerns about
personal safety and property protection intensify, the demand for advanced
security solutions that offer real-time monitoring, remote access, and
intelligent alerts has surged. The integration of AI and machine learning into
security solutions further enhances their effectiveness by providing features
like facial recognition, predictive threat analysis, and automated emergency
responses, which contribute to their growing popularity. Although components
such as Light Control Solutions, Entertainment Solutions, Home Healthcare
Solutions, and Energy Management Solutions also play important roles in the
connected home ecosystem, the heightened focus on security and safety has positioned
the Security Solution segment as the dominant force. The increased
affordability and accessibility of sophisticated security technologies, along
with their ease of integration into existing home automation systems, have
reinforced their market leadership. With ongoing advancements in smart security
technology and a continual rise in consumer demand for enhanced protection, the
Security Solution segment is expected to sustain its dominance and drive
further innovation in the connected homes market.
Based by region, The Asia-Pacific region is the fastest-growing market for connected homes due to a confluence of rapid urbanization, rising disposable incomes, and technological advancements. Rapid urbanization across countries like China, India, and Southeast Asia is driving the demand for modern living solutions, making smart home technologies increasingly attractive to a growing middle class seeking convenience and enhanced lifestyle features. Additionally, the proliferation of affordable and advanced technology has accelerated the adoption of connected home devices, such as smart thermostats, security systems, and home automation hubs. Major tech companies are expanding their presence in the region, introducing innovative products that cater to local consumer preferences and needs, further fueling market growth. Government initiatives promoting smart cities and infrastructure improvements are also supporting the expansion of connected home technologies, creating a favorable environment for market development. The increasing penetration of high-speed internet and the widespread use of mobile devices in Asia-Pacific countries are pivotal in enabling seamless integration and management of connected home solutions. Moreover, the region's burgeoning tech industry, including leading semiconductor and electronics manufacturers, supports the rapid advancement and deployment of smart home products. As a result, Asia-Pacific is experiencing a surge in demand for integrated home solutions that offer energy efficiency, enhanced security, and greater control. The strong emphasis on innovation and competition among local and international players drives continuous improvements and affordability, making connected home technologies more accessible. With a large and diverse consumer base, coupled with supportive regulatory frameworks and investment in smart infrastructure, the Asia-Pacific region is well-positioned for sustained growth in the connected homes market. This dynamic landscape, characterized by significant technological and economic shifts, underscores why Asia-Pacific is leading the charge in the global connected homes market, with ongoing advancements and increasing consumer adoption propelling it to the forefront of the industry.
Key market players in the global Connected
Homes market are: -
- Amazon Inc.
- Google LLC
- Apple Inc.
- Samsung Electronics Co., Ltd.
- Honeywell International Inc.
- Bosch Security Systems Inc.
- LG Electronics Inc.
- NEST Labs, Inc.
- Xiaomi Corporation
- Arlo Technologies, Inc.
- Ring LLC
- Schneider Electric SE
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“The global connected homes market
presents several lucrative opportunities for growth. The increasing adoption of
smart home technologies, driven by consumer demand for convenience, security,
and energy efficiency, offers substantial market potential. Advancements in
artificial intelligence (AI) and Internet of Things (IoT) technologies enable
the development of more sophisticated and integrated home automation systems.
The rise in smart device affordability and improved connectivity solutions
further enhances market accessibility. Additionally, the growing emphasis on
energy management and sustainability provides avenues for innovative solutions
that optimize home energy consumption. Expansion into emerging markets with
rising urbanization and disposable incomes also presents opportunities for
market penetration. Strategic partnerships, technological advancements, and
increased investment in research and development will drive future growth,
positioning companies to capitalize on evolving consumer needs and
technological trends in the connected homes sector”, said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based global management consulting firm.
“Connected Homes Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Functionality (Energy and Utilities Management, Smart Entertainment, Wellness and Monitoring, Security and Safety, Smart Appliance), By Component (Light Control Solution, Security Solution, Entertainment Solution, Home Healthcare Solution, Energy Management Solution), By Platform (Smartphones, Laptops, Home Gateway, Other), By Region & Competition, 2019-2029F” has evaluated the future
growth potential of Global Connected Homes Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Connected Homes Market.
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