Smart Home Market

Smart Home Market Size, Share, Statistics & Industry Growth Analysis Report by Product (Lighting Control, Security & Access Control, HVAC Control, Smart Speaker, Smart Kitchen and Smart Furniture), Software and Services, Sales Channel and Region - Global Forecast to 2028

Report Code: SE 3172 Mar, 2023, by marketsandmarkets.com

Updated on : January 5, 2024

Global Smart Home Market report size is projected to grow from USD 101.7 billion in 2023 and is anticipated to USD 163.7 billion by 2028; growing at compound annual growth rate (CAGR) of 10.0% from 2023 to 2028.

The importance of home monitoring in remote locations, and Growing need for energy-saving and low carbon emission-oriented solutions are responsible to drive market growth during the forecast period. Factors such as integration of power line communication technology in smart homes provides market growth opportunities for smart home industry.

Smart Home Market

Smart Home Market Statistics and Forecast to 2028

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Smart Home Market Report Dynamics

Driver: Growing concerns about safety, security, and convenience among general population

Smart homes are designed to automate various household appliances and electronics using an in-built monitoring system, thereby offering convenience, safety, efficiency, and security to the residents. The single interface system can monitor and control lighting, security, temperature, and audio/video systems. Security is a major focus of smart homes, and advanced security systems can notify homeowners of intrusions and provide room-by-room surveillance even when they are away. Access control systems play a crucial role in ensuring the security of residential areas. As a result of their high efficiency and sophistication, home automation and control systems are being increasingly used in smart homes to enhance security.

Restraint: More convenience-driven rather than necessity-driven market

Smart homes offer convenience and sophisticated measures to operate various electronic products within the household. These products are usually assumed to simplify daily activities rather than solving energy-efficiency issues. Several concerns are associated with the exclusivity of smart home technology, such as the technology being perceived as a luxury that is only affordable to a certain affluent stratum of society. Moreover, many homeowners are not yet aware of the benefits offered by these systems in terms of cost and energy savings. Buyers also need to invest in additional tools such as displays, software, sensors, and analytical solutions to adopt complete home automation.

An average homeowner is often reluctant to learn the information and processes necessary for the installation and operation of hardware devices. Thus, factors such as perceived usefulness and ease of use of the system by homeowners may negatively affect the market. Apart from do-it-yourself (DIY) home automation solutions, homeowners appointing service providers to monitor and control their smart home products on a contract basis have to pay a maintenance cost every month or year, which may not be affordable for an average homeowner. This acts as a restraining factor for the growth of market, especially in regions such as the Asia Pacific and the RoW (Middle East, South America, and Africa), wherein the economies are still in the developing stage.

Opportunity: Integration of data-connectivity technology into lighting controllers.

The lighting control market has experienced significant growth in recent years, with a variety of products available, including dimmers, timers, occupancy sensors, daylight sensors, and relays, which can be used independently or integrated into home automation systems. Typically, external communication protocols are required for lighting controllers to be automated. However, lighting control manufacturers are now producing products with in-built data connectivity, eliminating the need for external protocols and connectivity.

This development is expected to generate a substantial demand for such products, presenting opportunities for smart home market players. With loT serving as the foundation for connected lighting systems, communication between devices is seamless, enabling data sharing and contextual services. Additionally, LED-based systems offer increased control capabilities and reduced energy consumption and operational costs. The integration of loT and connectivity into lighting systems is set to revolutionize the smart home industry, opening new opportunities and value propositions.

Challenge:Compatibility issues between devices of different companies

The Smart Home Market statistics is highly fragmented in nature. At present, many players are developing different systems with multiple technologies. It is easy to integrate and connect devices made by the same manufacturer or vendor; however, it is a tedious task to link systems developed by different manufacturers or vendors; this could result in limited functionalities and unreliable services apart from incompatibility issues. Therefore, compatibility issues between various devices are a challenge for the growth of this Industry . As a result, end users regularly install units that can only be controlled by the manufacturer’s app.

This means that after installing several devices, the end user’s smartphone can be swamped with multiple apps, all controlling different devices and all dedicated to controlling the home under normal living conditions. Moreover, another problem that arises in a smart home space that combines isolated household devices is multiple control spots, be it smartphone apps of display panels. Manifold touch points complicate control among various IoT systems, even though one of the keys to efficient user experience with IoT products is creating a smooth, one-space experience across all the elements in a connected environment.

Smart Home Market Ecosystem

The smart home market growth is highly competitive. It is marked by the presence of a few tier-1 companies, such as Johnson Controls (Ireland), Honeywell (US), Siemens (Germany), Schneider Electric (France), and ASSA ABLOY (Sweden). These smart home companies have created a competitive ecosystem by investing in research and development activities to launch highly efficient and reliable smart home solutions.

Smart Home Market by Ecosystem

Proactive software and services to register highest CAGR during forecast period

Proactive software and services facilitate the transmission of energy consumption data to end users, along with the best possible solutions to be implemented. The market growth for proactive software is projected to grow at a higher CAGR during the forecast period. Proactive software enables the transfer of a higher volume of data than the behavioral versions; it can provide end users with inputs on effective energy usage and actions on the physical parameters, such as ambient humidity and temperature, to reduce energy consumption.

Smart kitchen segment is expected to grow at the highest CAGR Smart home market during the forecast period

The smart kitchen segment is expected to grow at the highest CAGR during the forecast period, owing to the growing preference for modular kitchens and the rise in disposable income among consumers in developing economies. Due to changes in lifestyles and increased time spent outside the home, the significance of a smart kitchen has risen. Additionally, the growing number of internet, smartphone, and tablet users has made it easier for users to monitor their appliances using their mobile devices, which is particularly appealing to those with busy lifestyles. Kitchen renovation activities have also increased substantially, particularly in developing economies, with a growing preference for modular kitchens.

Indirect sales channels to grow at highest CAGR during the forecast period

Indirect sales channels or third-party service providers hold a major share of the smart home market. E-commerce platforms offer a one-stop-shop experience that gives more convenience to customers by allowing them to browse and purchase multiple products in one place. Customers can easily review the product with specifications and designs and can order online. Setup and installation services for smart home products and systems are usually provided when customers purchase products online. Apart from this, individual distributors procure devices from a variety of suppliers for sale to end users within their geographic areas

North America by region to hold the larger share during the forecast period

North America is expected to capture the largest share of the global smart home market share by 2028. It is home to some of the prominent market players, including Honeywell (US), Amazon (US), and Apple (US). Factors such as the increased demand for reliable home energy management systems, enhanced home security levels, improved device standards, and the growth in popularity of integration of smart devices, such as tablets, smartphones, and standalone voice assistants, in homes are driving the market for smart homes in North America. The number of smart homes in North America, especially in the US, is higher than that of any other region in the world. Thus, the market share in this region is expected to grow at a steady pace during the forecast period.

In 2028, Asia Pacific is projected to hold the largest share of the overall grow lighst market

Smart Home Market by Region

Smart Home Market by Region

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Top Smart Home Companies - Key Market Players

The smart home companies are dominated by globally established players such as Johnson Controls (Ireland), Honeywell (US), Siemens (Germany), Schneider Electric (France), and ASSA ABLOY (Sweden). These players have adopted product launches/developments, contracts, collaborations, agreements, and acquisitions for the growth in the market.

Smart Home Market Report Scope :

Report Metric

Details

Estimated Market Size USD 101.7 Billion in 2023
Projected Market Size USD 163.7 Billion by 2028
CAGR (2023-2028)  10.0%

Forecast Period

2023–2028

On Demand Data Available

2030

Years Considered

2019–2028

Forecast Units

Value (USD Million/USD Billion)

Segments Covered

Product, Software and Services, Sales Channel and Region and Geography

Geographies Covered

North America, Europe, Asia Pacific, and RoW

 

Companies Covered

  • Honeywell (US),
  • Siemens (Germany),
  • Johnson Controls (Ireland),
  • Schneider Electric (France),
  • ASSA ABLOY (Sweden),
  • Amazon (US),
  • Apple (US),

    ADT (US), ABB (Switzerland), Robert Bosch (Germany), Sony (Japan), Samsung Electronics (South Korea), Ooma (US), Delta Controls (Canada), Control4 (US), Axis Communications (Sweden), Comcast (US), Crestron Electronics (US), SimpliSafe (US), Savant (US), Ecobee (Canada), Canary (US), LG Electronics (South Korea), Lutron (US) and Legrand (France).

Other players include in Smart Home Market Report.

Total 26 Major Players are covered.

 

Smart Home Market Highlights

The study categorizes the smart home market based sales channel, products, software & services, and region

Segment

Subsegment

By Sales Channel

  • Direct
  • Indirect

By Products

  • Lighting Control
    • Relays
    • Occupancy Sensors
    • Daylight Sensors
    • Timers
    • Dimmers
    • Switches
    • Accessories and Other Products
  • Security and Access Control
    • Video Surveillance
    • Hardware
      • Cameras.
      • Storage Devices
      • Monitors
      • Other Accessories
    • Software/Video Analytics
    • Services
  • Access Control
    • Hardware
      • Card-based Readers
      • Biometric Readers
      • Multi-technology Readers
      • Electronic Locks
      • Controllers
      • Others
    • Software
    • Services
  • HVAC Control
    • Smart Thermostats
    • Sensors
    • Control Valves
    • Heating & Cooling Coils
    • Dampers
    • Actuators
    • Pumps & Fans
    • Smart Vents
  • Entertainment and Other Controls
    • Entertainment Control
      • Audio & Volume Controls
      • Home Theatre System Controls
      • Touch Screen & Keypads
    • Other Controls
      • Smart Meters
      • Smart Plugs
      • Smart Hubs
      • Smart Locks
      • Smoke Detectors
  • Smart Speaker
  • Home Healthcare
    • Health Status Monitors
    • Physical Activity Monitors
  • Smart Kitchen
    • Smart Refrigerators
    • Smart Coffee Makers
    • Smart Kettles
    • Smart Dish Washers
    • Smart Ovens
    • Smart Cooktops
    • Smart Cookers
  • Home Appliances
    • Smart Washers
    • Smart Dryers
    • Smart Water Heaters
    • Smart Vacuum Cleaners
  • Smart Furniture
    • Smart Tables
    • Smart Desks
    • Smart Stools & Benches
    • Smart Sofas
    • Smart Chairs

By Software & Services

  • Behavioral
  • Proactive

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Middle East
    • Africa
    • South America

Recent Developments in Smart Home Industry :

  • In January 2023, Schneider Electric (France) launched Schneider Home which is an energy management solution that includes a house battery for sustainable energy storage, a high-power solar inverter, a smart electrical panel, an EV charger, and connected electrical outlets and light switches. It is all controlled by the user-friendly Schneider Home app.
  • In January 2023, Apple (US) launched HomePod (2nd Generation) which is a smart speakers that allows users to monitor the temperature and humidity in a room hands-free, establish smart home automation with Siri, and get notifications when a smoke or carbon monoxide alarm is detected in their house.
  • In November 2022, Schneider Electric (France) and Smartworld Developers (India) partnered on home automation solutions. Smartworld Developers will develop positive impact homes with lower waste and healthier interiors by utilizing smart product lines from Schneider Electric, such as Wiser Smart Homes, Modular Switches, etc.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 60)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 MARKET SEGMENTATION
           1.3.2 PRODUCTS COVERED UNDER EACH MAJOR CATEGORY
    1.4 YEARS CONSIDERED 
    1.5 CURRENCY 
    1.6 STAKEHOLDERS 
    1.7 SUMMARY OF CHANGES 
           1.7.1 RECESSION IMPACT
 
2 RESEARCH METHODOLOGY (Page No. - 66)
    2.1 RESEARCH DATA 
           FIGURE 2 SMART HOME MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Major secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primaries
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key smart home industry insights
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 3 RESEARCH FLOW FOR MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: REVENUE GENERATED FROM SMART HOME PRODUCTS RELATED TO HOME AUTOMATION
                    FIGURE 6 MARKET: TOP-DOWN APPROACH
           2.2.3 MARKET PROJECTIONS
                    TABLE 1 MARKET GROWTH ASSUMPTIONS
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 7 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
    2.5 LIMITATIONS 
    2.6 APPROACH TO ANALYZE IMPACT OF RECESSION 
    2.7 RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 78)
    FIGURE 8 ANNUAL AVERAGE GROWTH RATES OF ELECTRICITY DEMAND IN KEY REGIONS, 2018–2020
    FIGURE 9 TOTAL ENERGY CONSUMPTION BREAKDOWN, BY REGION, 2019–2021
    FIGURE 10 GLOBAL SHARE OF ENERGY AND EMISSIONS IN BUILDINGS AND CONSTRUCTION, 2021
    TABLE 2 US: NEW RESIDENTIAL CONSTRUCTION (AS OF JANUARY 2023)
    TABLE 3 US: CONSTRUCTION SPENDING (AS OF DECEMBER 2022)
    3.1 SMART HOME MARKET: RECESSION IMPACT 
           FIGURE 11 GDP GROWTH PROJECTIONS FOR MAJOR ECONOMIES, 2021–2023
           FIGURE 12 RECESSION IMPACT ON MARKET, 2019–2028 (USD BILLION)
           FIGURE 13 ENTERTAINMENT & OTHER CONTROLS TO DOMINATE MARKET IN 2023
           FIGURE 14 BEHAVIORAL SEGMENT TO CONTINUE TO DOMINATE MARKET IN 2028
           FIGURE 15 INDIRECT SALES CHANNEL TO REGISTER HIGHER GROWTH RATE DURING FORECAST PERIOD
           FIGURE 16 SMART KITCHEN SEGMENT TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD
           FIGURE 17 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE OF MARKET IN 2023
 
4 PREMIUM INSIGHTS (Page No. - 87)
    4.1 ATTRACTIVE OPPORTUNITIES IN SMART HOME MARKET 
           FIGURE 18 INCREASING NUMBER OF INTERNET USERS AND GROWING ADOPTION OF SMART DEVICES TO DRIVE MARKET
    4.2 MARKET, BY PRODUCT, 2023 VS. 2028 (USD MILLION) 
           FIGURE 19 SMART KITCHEN SEGMENT TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
    4.3 MARKET SHARE FOR SOFTWARE & SERVICES, BY TYPE (2023) 
           FIGURE 20 PROACTIVE SEGMENT TO HOLD LARGER SHARE OF MARKET IN 2023
    4.4 MARKET SHARE, BY SALES CHANNEL (2023) 
           FIGURE 21 INDIRECT SALES CHANNEL TO HOLD LARGER SHARE OF MARKET IN 2023
    4.5 NORTH AMERICA: MARKET, BY PRODUCT AND COUNTRY (2023) 
           FIGURE 22 ENTERTAINMENT & OTHER CONTROLS SEGMENT TO ACCOUNT FOR LARGEST SHARE OF NORTH AMERICAN SMART HOME MARKET IN 2023
    4.6 SMART HOME MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES 
           FIGURE 23 CHINA TO REGISTER HIGHEST GROWTH IN MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 91)
    5.1 INTRODUCTION 
    5.2 EVOLUTION 
           FIGURE 24 EVOLUTION OF SMART HOMES
    5.3 MARKET DYNAMICS 
           FIGURE 25 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.3.1 DRIVERS
                    FIGURE 26 DRIVERS FOR MARKET AND THEIR IMPACT
                    5.3.1.1 Increasing number of internet users and growing adoption of smart devices
                               FIGURE 27 INTERNET USERS, BY REGION (MILLION)
                    5.3.1.2 Increasing disposable income of people in developing economies
                               FIGURE 28 GDP PER CAPITA IN INDIA AND CHINA, 2017–2021 (USD THOUSAND)
                    5.3.1.3 Increasing importance of home monitoring in remote locations
                    5.3.1.4 Growing need for energy-saving and low carbon emission-oriented solutions
                               TABLE 4 ENERGY-SAVING POTENTIAL OF LIGHTING CONTROLS
                    5.3.1.5 Expansion of smart home product portfolios by large number of players
                    5.3.1.6 Growing concerns about safety, security, and convenience among general population
           5.3.2 RESTRAINTS
                    FIGURE 29 RESTRAINTS FOR SMART HOME MARKET AND THEIR IMPACT
                    5.3.2.1 More convenience-driven rather than necessity-driven market
                    5.3.2.2 High cost of switching for existing smart device consumers
                    5.3.2.3 Issues related to security and privacy breaches
           5.3.3 OPPORTUNITIES
                    FIGURE 30 OPPORTUNITIES FOR MARKET AND THEIR IMPACT
                    5.3.3.1 Favorable government regulations to promote green buildings
                    5.3.3.2 Incorporation of lighting controllers with in-built data-connectivity technology
                    5.3.3.3 Integration of power line communication technology in smart homes
           5.3.4 CHALLENGES
                    FIGURE 31 CHALLENGES FOR MARKET AND THEIR IMPACT
                    5.3.4.1 Difficulties linking disparate systems, limited functionality, and lack of open standards
                    5.3.4.2 Risk of device malfunctioning
                    5.3.4.3 Compatibility issues between devices of different companies
    5.4 SUPPLY CHAIN ANALYSIS 
           FIGURE 32 SUPPLY CHAIN ANALYSIS OF SMART HOME MARKET: MANUFACTURING AND DISTRIBUTION PHASES ADD MAXIMUM VALUE
           5.4.1 PLANNING AND REVISING FUNDS
           5.4.2 RESEARCH & DEVELOPMENT (R&D)
           5.4.3 MANUFACTURING
           5.4.4 ASSEMBLY, DISTRIBUTION, AND AFTER-SALES SERVICES
    5.5 ECOSYSTEM ANALYSIS 
           FIGURE 33 ECOSYSTEM ANALYSIS OF MARKET
           TABLE 5 KEY PLAYERS AND THEIR ROLE IN SMART HOME ECOSYSTEM
           5.5.1 HOME AUTOMATION OEMS
           5.5.2 SUPPLIERS
           5.5.3 SMART HOME SYSTEM INTEGRATORS
           5.5.4 DISTRIBUTORS
    5.6 SMART HOME MARKET TRENDS IMPACTING CUSTOMER BUSINESS 
           FIGURE 34 AI IN HOME APPLIANCES AND ROBOTICS TO IMPACT REVENUE OF SMART HOME PRODUCT MANUFACTURERS DURING FORECAST PERIOD
    5.7 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 6 MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 35 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.7.1 INTENSITY OF COMPETITIVE RIVALRY
           5.7.2 BARGAINING POWER OF SUPPLIERS
           5.7.3 BARGAINING POWER OF BUYERS
           5.7.4 THREAT OF SUBSTITUTES
           5.7.5 THREAT OF NEW ENTRANTS
    5.8 CASE STUDIES 
           5.8.1 ASSA ABLOY’S REMOTE ACCESS DELEGATION TO BUILDINGS TRANSFORMS WAY EMERGENCY SERVICES OPERATE WORLDWIDE
           5.8.2 JOHNSON CONTROLS’ COOLING SOLUTION HELPS FISERV TACKLE MAINTENANCE CONSTRAINTS AND ACHIEVE ENERGY SAVINGS
           5.8.3 HONEYWELL’S SECURITY SOLUTION HELPS GATEWAY BUILDING IMPROVE ITS SECURITY AND VISITOR ACCESS SYSTEM
           5.8.4 SIEMENS BUILDING TECHNOLOGIES PROVIDES INTEGRATED SOLUTIONS FOR FONDATION LOUIS VUITTON MUSEUM IN PARIS
           5.8.5 ADT RENDERS ADVANCED ACCESS CONTROL SYSTEMS TO PORT OF CORK
    5.9 TECHNOLOGY ANALYSIS 
           5.9.1 KEY TECHNOLOGIES
                    5.9.1.1 Integration of IoT and cloud connectivity with smart home devices
                    5.9.1.2 Integration of Artificial Intelligence (AI) with smart home systems
           5.9.2 COMPLEMENTARY TECHNOLOGIES
                    5.9.2.1 Adoption of adaptive learning technology to enhance capabilities of HVAC control devices
                    5.9.2.2 Integration of IoT with smart wearable devices
           5.9.3 ADJACENT TECHNOLOGY
                    5.9.3.1 Penetration of 5G in industrial manufacturing
    5.10 TRADE ANALYSIS 
           5.10.1 IMPORT SCENARIO
                    5.10.1.1 Import scenario for thermostats
                                TABLE 7 IMPORT DATA FOR THERMOSTATS (HS CODE 903210), BY COUNTRY, 2017–2021 (USD MILLION)
                    5.10.1.2 Import scenario for burglar/fire alarms
                                TABLE 8 IMPORT DATA FOR BURGLAR/FIRE ALARMS (HS CODE 853110), BY COUNTRY, 2017–2021 (USD MILLION)
           5.10.2 EXPORT SCENARIO
                    5.10.2.1 Export scenario for thermostats
                                TABLE 9 EXPORT DATA FOR THERMOSTATS (HS CODE 903210), BY COUNTRY, 2017–2021 (USD MILLION)
                    5.10.2.2 Export scenario for burglar/fire alarms
                                TABLE 10 EXPORT DATA FOR BURGLAR/FIRE ALARMS (HS CODE 853110), BY COUNTRY, 2017–2021 (USD MILLION)
    5.11 PATENT ANALYSIS 
           TABLE 11 PATENTS IN SMART HOME MARKET, 2019–2022
           FIGURE 36 PATENTS PUBLISHED FOR MARKET FROM 2013 TO 2022
           TABLE 12 NUMBER OF PATENTS REGISTERED IN MARKET, 2013–2022
           FIGURE 37 TOP 10 SMART HOME COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS, 2013–2022
    5.12 TARIFF AND REGULATIONS 
           TABLE 13 MFN TARIFFS FOR THERMOSTATS EXPORTED BY US
           TABLE 14 MFN TARIFFS FOR THERMOSTATS EXPORTED BY CHINA
           TABLE 15 MFN TARIFFS FOR BURGLAR/FIRE ALARMS EXPORTED BY US
           TABLE 16 MFN TARIFFS FOR BURGLAR/FIRE ALARMS EXPORTED BY CHINA
           5.12.1 POSITIVE IMPACT OF TARIFF ON SMART HOME PRODUCTS
           5.12.2 NEGATIVE IMPACT OF TARIFF ON SMART HOME PRODUCTS
           5.12.3 REGULATIONS AND STANDARDS
                    5.12.3.1 Standards
                    5.12.3.2 Regulations
                    5.12.3.3 Regulatory framework for IoT and connected appliances in Europe, US, and Latin America
    5.13 AVERAGE SELLING PRICE (ASP) OF VARIOUS COMPONENTS OF SMART HOME SYSTEMS 
           TABLE 17 AVERAGE SELLING PRICE OF VARIOUS COMPONENTS OF SMART HOME SYSTEMS
           FIGURE 38 AVERAGE SELLING PRICE TREND FOR VIDEO SURVEILLANCE CAMERAS
           FIGURE 39 AVERAGE SELLING PRICE OF SMART KITCHEN AND HOME APPLIANCES
 
6 MARKET FOR SOFTWARE & SERVICES, BY TYPE (Page No. - 139)
    6.1 INTRODUCTION 
           FIGURE 40 MARKET FOR SOFTWARE & SERVICES, BY TYPE
           TABLE 18 MARKET FOR SOFTWARE & SERVICES, BY TYPE, 2019–2022 (USD BILLION)
           FIGURE 41 PROACTIVE SOFTWARE & SERVICES SEGMENT TO REGISTER HIGHER GROWTH DURING FORECAST PERIOD
           TABLE 19 MARKET FOR SOFTWARE & SERVICES, BY TYPE, 2023–2028 (USD BILLION)
    6.2 BEHAVIORAL SOFTWARE & SERVICES 
           6.2.1 LEARNS FROM USER BEHAVIOR AND RECOMMENDS NECESSARY ACTION
    6.3 PROACTIVE SOFTWARE & SERVICES 
           6.3.1 AUTOMATICALLY IMPLEMENTS NECESSARY ACTION BASED ON USER BEHAVIOR
 
7 SMART HOME MARKET, BY PRODUCT (Page No. - 144)
    7.1 INTRODUCTION 
           FIGURE 42 SMART HOME MARKET , BY PRODUCT
           TABLE 20 MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
           FIGURE 43 SMART KITCHEN SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 21 MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
    7.2 LIGHTING CONTROLS 
           7.2.1 MARKET DYNAMICS
                    7.2.1.1 Drivers
                               7.2.1.1.1 Growing demand for energy-efficient lighting solutions
                               7.2.1.1.2 Intensifying need for energy conservation and increasing efficiency of lighting products
                               7.2.1.1.3 Increasing smart city lighting initiatives worldwide
                    7.2.1.2 Restraints
                               7.2.1.2.1 Compatibility issues associated with lighting controls
                               7.2.1.2.2 Limited awareness about benefits of lighting controls
                               7.2.1.2.3 High installation cost
                               7.2.1.2.4 Security and privacy issues associated with smart lighting control systems
                    7.2.1.3 Opportunities
                               7.2.1.3.1 Consumer perception undergoing paradigm shift
                               7.2.1.3.2 Expanding mood lighting segment
                               7.2.1.3.3 Increasing demand for daylight sensors
           7.2.2 PRODUCTS CONSIDERED UNDER LIGHTING CONTROLS
                    FIGURE 44 SMART HOME MARKET FOR LIGHTING CONTROL PRODUCTS
                    TABLE 22 MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    FIGURE 45 OCCUPANCY SENSORS TO HOLD LARGEST SHARE OF MARKET FOR LIGHTING CONTROLS IN 2023
                    TABLE 23 MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 24 MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 25 MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 26 MARKET FOR LIGHTING CONTROLS, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 27 MARKET FOR LIGHTING CONTROLS, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 28 MARKET FOR LIGHTING CONTROLS, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 29 MARKET FOR LIGHTING CONTROLS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.2.2.1 Relays
                               7.2.2.1.1 Work as on/off switches in lighting control systems
                                            TABLE 30 MARKET FOR RELAYS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 31 MARKET FOR RELAYS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 32 SMART HOME MARKET FOR RELAYS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 33 MARKET FOR RELAYS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.2.2.2 Occupancy sensors
                               7.2.2.2.1 Detect presence of individuals to switch lights on/off
                                            TABLE 34 MARKET FOR OCCUPANCY SENSORS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 35 MARKET FOR OCCUPANCY SENSORS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 36 MARKET FOR OCCUPANCY SENSORS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 37 MARKET FOR OCCUPANCY SENSORS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.2.2.3 Daylight sensors
                               7.2.2.3.1 Function as photosensors to measure intensity of natural light and accordingly adjust amount of artificial light
                                            TABLE 38 SMART HOME MARKET FOR DAYLIGHT SENSORS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 39 MARKET FOR DAYLIGHT SENSORS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 40 MARKET FOR DAYLIGHT SENSORS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 41 SMART HOME MARKET FOR DAYLIGHT SENSORS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.2.2.4 Timers
                               7.2.2.4.1 Used to turn lights on/off automatically after pre-specified time
                                            TABLE 42 SMART HOME MARKET FOR TIMERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 43 MARKET FOR TIMERS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 44 MARKET FOR TIMERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 45 MARKET FOR TIMERS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.2.2.5 Dimmers
                               7.2.2.5.1 Used to adjust brightness in lighting control systems by means of voltage variation
                                            TABLE 46 MARKET FOR DIMMERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 47 MARKET FOR DIMMERS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 48 MARKET FOR DIMMERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 49 MARKET FOR DIMMERS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.2.2.6 Switches
                               7.2.2.6.1 Switches can be categorized as manual and remote controlled
                                            TABLE 50 SMART HOME MARKET FOR SWITCHES, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 51 SMART HOME MARKET FOR SWITCHES, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 52 MARKET FOR SWITCHES, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 53 MARKET FOR SWITCHES, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.2.2.7 Accessories & other products
                               TABLE 54 MARKET FOR ACCESSORIES & OTHER PRODUCTS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 55 MARKET FOR ACCESSORIES & OTHER PRODUCTS, BY REGION, 2023–2028 (USD MILLION)
                               TABLE 56 SMART HOME MARKET FOR ACCESSORIES & OTHER PRODUCTS, BY REGION, 2019–2022 (THOUSAND UNITS)
                               TABLE 57 MARKET FOR ACCESSORIES & OTHER PRODUCTS, BY REGION, 2023–2028 (THOUSAND UNITS)
    7.3 SECURITY & ACCESS CONTROLS 
           7.3.1 MARKET DYNAMICS
                    7.3.1.1 Drivers
                               7.3.1.1.1 Increasing crime rate leading to adoption of home security systems
                               7.3.1.1.2 Development of mobile interfaces
                               7.3.1.1.3 Development of multi-level/multifactor biometric access controls that enhance authentication processes
                               7.3.1.1.4 Rising adoption of IoT-based security systems
                    7.3.1.2 Restraints
                               7.3.1.2.1 Growing concerns with regard to privacy
                               7.3.1.2.2 High initial setup cost to hinder market growth
                               7.3.1.2.3 Limited adoption of access control as a service
                    7.3.1.3 Opportunities
                               7.3.1.3.1 Significant prospects of biometric technologies in home security applications
           7.3.2 PRODUCTS COVERED UNDER SECURITY & ACCESS CONTROLS
                    FIGURE 46 SMART HOME MARKET FOR SECURITY & ACCESS CONTROL PRODUCTS
                    TABLE 58 MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    FIGURE 47 VIDEO SURVEILLANCE SYSTEMS SEGMENT TO HOLD LARGER SHARE OF SECURITY & ACCESS CONTROLS MARKET IN 2028
                    TABLE 59 MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 60 MARKET FOR SECURITY & ACCESS CONTROLS, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 61 MARKET FOR SECURITY & ACCESS CONTROLS, BY REGION, 2023–2028 (USD MILLION)
                    7.3.2.1 Video surveillance systems
                               TABLE 62 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY OFFERING, 2019–2022 (USD MILLION)
                               FIGURE 48 SOFTWARE SEGMENT TO REGISTER HIGHEST CAGR IN VIDEO SURVEILLANCE SYSTEMS MARKET DURING FORECAST PERIOD
                               TABLE 63 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY OFFERING, 2023–2028 (USD MILLION)
                               TABLE 64 SMART HOME MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 65 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
                               7.3.2.1.1 Hardware
                                             TABLE 66 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY HARDWARE, 2019–2022 (USD MILLION)
                                             FIGURE 49 CAMERAS TO HOLD LARGEST SHARE OF MARKET FOR VIDEO SURVEILLANCE HARDWARE IN 2022
                                             TABLE 67 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY HARDWARE, 2023–2028 (USD MILLION)
                                             7.3.2.1.1.1 Cameras
                                                            7.3.2.1.1.1.1 IP cameras
                                                                             7.3.2.1.1.1.1.1 Can be accessed and controlled over IP networks
                                                            7.3.2.1.1.1.2 Analog cameras
                                                                             7.3.2.1.1.1.2.1 Require lesser technical maintenance compared to IP cameras
                                                                                                TABLE 68 MARKET FOR VIDEO SURVEILLANCE CAMERAS, BY TYPE, 2019–2022 (USD MILLION)
                                                                                                TABLE 69 MARKET FOR VIDEO SURVEILLANCE CAMERAS, BY TYPE, 2023–2028 (USD MILLION)
                                                                                                TABLE 70 SMART HOME MARKET FOR VIDEO SURVEILLANCE CAMERAS, BY TYPE, 2019–2022 (THOUSAND UNITS)
                                                                                                TABLE 71 MARKET FOR VIDEO SURVEILLANCE CAMERAS, BY TYPE, 2023–2028 (THOUSAND UNITS)
                                             7.3.2.1.1.2 Storage devices
                                                            7.3.2.1.1.2.1 Introduction of IP cameras to boost demand for IP-based surveillance storage systems and technologies
                                             7.3.2.1.1.3 Monitors
                                                            7.3.2.1.1.3.1 Project data obtained by cameras as output of video surveillance systems
                                             7.3.2.1.1.4 Other accessories
                               7.3.2.1.2 Software
                                             7.3.2.1.2.1 Video analytics software
                                                            7.3.2.1.2.1.1 Automatically monitors cameras and alerts users about unusual or suspicious events
                                             7.3.2.1.2.2 Video management software
                                                            7.3.2.1.2.2.1 Platform for video monitoring, recording, and analysis
                                             7.3.2.1.2.3 Neural networks and algorithms
                                                            7.3.2.1.2.3.1 Used to extract patterns or coded data to identify behavioral smart home market statistics
                               7.3.2.1.3 Services
                                             7.3.2.1.3.1 Ensures effective working of video surveillance systems
                    7.3.2.2 Access control systems
                               TABLE 72 MARKET FOR ACCESS CONTROL SYSTEMS, BY OFFERING, 2019–2022 (USD MILLION)
                               FIGURE 50 HARDWARE SEGMENT TO HOLD LARGEST SHARE OF MARKET FOR ACCESS CONTROL SYSTEMS IN 2023
                               TABLE 73 MARKET FOR ACCESS CONTROL SYSTEMS, BY OFFERING, 2023–2028 (USD MILLION)
                               TABLE 74 MARKET FOR ACCESS CONTROL SYSTEMS, BY REGION, 2019–2022 (USD MILLION)
                               TABLE 75 MARKET FOR ACCESS CONTROL SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
                               7.3.2.2.1 Hardware
                                             TABLE 76 MARKET FOR ACCESS CONTROL HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
                                             FIGURE 51 CARD-BASED READERS SEGMENT TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
                                             TABLE 77 MARKET FOR ACCESS CONTROL HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
                                             7.3.2.2.1.1 Card-based readers
                                                            7.3.2.2.1.1.1 Used to authenticate user identity
                                             7.3.2.2.1.2 Multi-technology readers
                                                            7.3.2.2.1.2.1 Employ combination of card and biometrics
                                             7.3.2.2.1.3 Electronic locks
                                                            7.3.2.2.1.3.1 Cannot be tampered with and provide better security than mechanical locks
                                             7.3.2.2.1.4 Controllers
                                                            7.3.2.2.1.4.1 Control panels transmit data between readers and software through various types of communication interfaces
                                             7.3.2.2.1.5 Biometric readers
                                                            TABLE 78 MARKET FOR BIOMETRIC READERS, BY TYPE, 2019–2022 (USD MILLION)
                                                            TABLE 79 MARKET FOR BIOMETRIC READERS, BY TYPE, 2023–2028 (USD MILLION)
                                                            TABLE 80 MARKET FOR BIOMETRIC READERS, BY TYPE, 2019–2022 (THOUSAND UNITS)
                                                            TABLE 81 MARKET FOR BIOMETRIC READERS, BY TYPE, 2023–2028 (THOUSAND UNITS)
                                             7.3.2.2.1.6 Facial recognition
                                                            7.3.2.2.1.6.1 Uses numeric codes called face prints
                                             7.3.2.2.1.7 Iris recognition
                                                            7.3.2.2.1.7.1 More detail-oriented and provides high level of security
                                             7.3.2.2.1.8 Fingerprint recognition
                                                            7.3.2.2.1.8.1 Used in police investigations, defense-related purposes, and immigration applications
                                             7.3.2.2.1.9 Palm recognition
                                                            7.3.2.2.1.9.1 Many unique advantages, including high recognition rate, low cost of acquisition equipment, and good user acceptance
                                             7.3.2.2.1.10 Voice recognition
                                                             7.3.2.2.1.10.1 Enables hands-free control of devices
                                             7.3.2.2.1.11 Others
                    7.3.2.3 Software
                               7.3.2.3.1 Often integrated with other security management platforms, such as video surveillance, intrusion, and visitor management systems
                    7.3.2.4 Services
                               7.3.2.4.1 Majorly include installation, support, and maintenance services
    7.4 HVAC CONTROLS 
           7.4.1 MARKET DYNAMICS
                    7.4.1.1 Drivers
                               7.4.1.1.1 Flexibility and ease of accessing HVAC systems
                               7.4.1.1.2 Reduction in long-term energy costs through enhanced hardware, integrated control systems, and management services
                               7.4.1.1.3 Boom in construction sector
                               7.4.1.1.4 Emergence of IoT-enabled HVAC systems
                    7.4.1.2 Restraints
                               7.4.1.2.1 Lack of interoperability and standardization
                               7.4.1.2.2 Lack of awareness about benefits of HVAC control systems
                               7.4.1.2.3 High cost and technical complexities associated with installation of HVAC control systems
                    7.4.1.3 Opportunities
                               7.4.1.3.1 Innovations in sensors and controls
                               7.4.1.3.2 Growing demand for cloud computing in HVAC systems
                               7.4.1.3.3 Integration of smart devices with HVAC systems
           7.4.2 PRODUCTS COVERED UNDER HVAC CONTROLS
                    FIGURE 52 MARKET FOR HVAC CONTROL PRODUCTS
                    TABLE 82 MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    FIGURE 53 DAMPERS SEGMENT TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
                    TABLE 83 MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 84 MARKET FOR HVAC CONTROLS, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 85 MARKET FOR HVAC CONTROLS, BY REGION, 2023–2028 (USD MILLION)
                    7.4.2.1 Smart thermostats
                               7.4.2.1.1 Maintain temperature at required levels
                                            TABLE 86 SMART HOME MARKET FOR SMART THERMOSTATS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 87 MARKET FOR SMART THERMOSTATS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 88 MARKET FOR SMART THERMOSTATS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 89 MARKET FOR SMART THERMOSTATS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.4.2.2 Sensors
                               7.4.2.2.1 Perform logical functions such as making decisions and communicating with other systems
                                            TABLE 90 MARKET FOR SENSORS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 91 MARKET FOR SENSORS, BY REGION, 2023–2028 (USD MILLION)
                    7.4.2.3 Control valves
                               7.4.2.3.1 Regulate flow of fluids in various processes
                                            TABLE 92 MARKET FOR CONTROL VALVES, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 93 MARKET FOR CONTROL VALVES, BY REGION, 2023–2028 (USD MILLION)
                    7.4.2.4 Heating & cooling coils
                               7.4.2.4.1 HVAC systems use coils to maintain temperature
                                            TABLE 94 MARKET FOR HEATING & COOLING COILS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 95 MARKET FOR HEATING & COOLING COILS, BY REGION, 2023–2028 (USD MILLION)
                    7.4.2.5 Dampers
                               7.4.2.5.1 Regulate flow of hot/cold air in rooms
                                            TABLE 96 SMART HOME MARKET FOR DAMPERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 97 MARKET FOR DAMPERS, BY REGION, 2023–2028 (USD MILLION)
                    7.4.2.6 Actuators
                               7.4.2.6.1 Control dampers and valves in HVAC systems
                                            TABLE 98 MARKET FOR ACTUATORS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 99 MARKET FOR ACTUATORS, BY REGION, 2023–2028 (USD MILLION)
                    7.4.2.7 Pumps & fans
                               7.4.2.7.1 Essential components of HVAC control systems
                                            TABLE 100 MARKET FOR PUMPS & FANS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 101 MARKET FOR PUMPS & FANS, BY REGION, 2023–2028 (USD MILLION)
                    7.4.2.8 Smart vents
                               7.4.2.8.1 Can be programmed to open and close according to temperature conditions
                                            TABLE 102 MARKET FOR SMART VENTS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 103 MARKET FOR SMART VENTS, BY REGION, 2023–2028 (USD MILLION)
    7.5 ENTERTAINMENT & OTHER CONTROLS 
           TABLE 104 SMART HOME MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
           FIGURE 54 MARKET FOR ENTERTAINMENT CONTROLS TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
           TABLE 105 MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
           TABLE 106 MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY REGION, 2019–2022 (USD MILLION)
           TABLE 107 MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY REGION, 2023–2028 (USD MILLION)
           7.5.1 MARKET DYNAMICS
                    7.5.1.1 Drivers
                               7.5.1.1.1 Changing lifestyle of consumers
                               7.5.1.1.2 Enhanced level of comfort offered
                               7.5.1.1.3 Growing consumer inclination toward entertainment products
                    7.5.1.2 Restraints
                               7.5.1.2.1 High cost of entertainment control systems
                               7.5.1.2.2 Consumer apprehensions due to adverse effects on health from audio equipment and wireless entertainment devices
                    7.5.1.3 Opportunities
                               7.5.1.3.1 Development of 3D gesture-based remote entertainment controls
                               7.5.1.3.2 Integration of AI with entertainment devices
           7.5.2 PRODUCTS COVERED UNDER ENTERTAINMENT CONTROL
                    FIGURE 55 MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT
                    TABLE 108 MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    FIGURE 56 AUDIO & VOLUME CONTROLS SEGMENT TO COMMAND LARGEST MARKET SHARE IN 2028
                    TABLE 109 MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 110 MARKET FOR ENTERTAINMENT CONTROLS, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 111 SMART HOME MARKET FOR ENTERTAINMENT CONTROLS, BY REGION, 2023–2028 (USD MILLION)
                    7.5.2.1 Audio & volume controls
                               7.5.2.1.1 Enable playback and music control in homes
                                            TABLE 112 MARKET FOR AUDIO & VOLUME CONTROLS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 113 MARKET FOR AUDIO & VOLUME CONTROLS, BY REGION, 2023–2028 (USD MILLION)
                    7.5.2.2 Home theater system controls
                               7.5.2.2.1 Designed to provide ultimate movie-viewing experience
                                            TABLE 114 MARKET FOR HOME THEATER SYSTEM CONTROLS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 115 MARKET FOR HOME THEATER SYSTEM CONTROLS, BY REGION, 2023–2028 (USD MILLION)
                    7.5.2.3 Touchscreens & keypads
                               7.5.2.3.1 Control audio-video distribution at homes
                                            TABLE 116 MARKET FOR TOUCHSCREENS & KEYPADS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 117 MARKET FOR TOUCHSCREENS & KEYPADS, BY REGION, 2023–2028 (USD MILLION)
           7.5.3 OTHER CONTROL PRODUCTS
                    FIGURE 57 MARKET FOR OTHER CONTROLS, BY PRODUCT
                    TABLE 118 SMART HOME MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    FIGURE 58 SMART HUBS SEGMENT TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD
                    TABLE 119 MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 120 MARKET FOR OTHER CONTROLS, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 121 MARKET FOR OTHER CONTROLS, BY REGION, 2023–2028 (USD MILLION)
                    7.5.3.1 Smart meters
                               7.5.3.1.1 Measure energy consumption and enable communication between users and utilities
                                            TABLE 122 MARKET FOR SMART METERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 123 MARKET FOR SMART METERS, BY REGION, 2023–2028 (USD MILLION)
                    7.5.3.2 Smart plugs
                               7.5.3.2.1 Help in managing and saving energy
                                            TABLE 124 MARKET FOR SMART PLUGS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 125 MARKET FOR SMART PLUGS, BY REGION, 2023–2028 (USD MILLION)
                    7.5.3.3 Smart hubs
                               7.5.3.3.1 Control connected gadgets in smart homes
                                            TABLE 126 MARKET FOR SMART HUBS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 127 MARKET FOR SMART HUBS, BY REGION, 2023–2028 (USD MILLION)
                    7.5.3.4 Smart locks
                               7.5.3.4.1 Enabled with wireless technologies such as Z-Wave, Zigbee, and NFC
                                            TABLE 128 MARKET FOR SMART LOCKS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 129 MARKET FOR SMART LOCKS, BY REGION, 2023–2028 (USD MILLION)
                    7.5.3.5 Smoke detectors
                               7.5.3.5.1 Detect smoke faster than flame and heat detectors
                                            TABLE 130 MARKET FOR SMOKE DETECTORS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 131 MARKET FOR SMOKE DETECTORS, BY REGION, 2023–2028 (USD MILLION)
    7.6 SMART SPEAKERS 
           7.6.1 ENABLE CONTROL OF SMART DEVICES THROUGH USER VOICE CONTROL
                    TABLE 132 SMART HOME MARKET FOR SMART SPEAKERS, BY REGION, 2019–2022 (USD MILLION)
                    FIGURE 59 SMART SPEAKERS MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 133 MARKET FOR SMART SPEAKERS, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 134 MARKET FOR SMART SPEAKERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 135 MARKET FOR SMART SPEAKERS, BY REGION, 2023–2028 (THOUSAND UNITS)
           7.6.2 MARKET DYNAMICS
                    7.6.2.1 Drivers
                               7.6.2.1.1 Increasing number of smart homes
                                            TABLE 136 REVENUE CONTRIBUTION FROM MARKET IN SMART CITIES
                               7.6.2.1.2 Rising disposable income
                               7.6.2.1.3 Proliferation of multifunctional devices
                               7.6.2.1.4 Growing MARKET trends of personalization
                               7.6.2.1.5 Entry of large internet/technology companies into smart speakers market
                               7.6.2.1.6 Growing popularity of smart speakers with displays
                    7.6.2.2 Restraints
                               7.6.2.2.1 Issues related to connectivity range, compatibility, and power
                               7.6.2.2.2 Concerns related to data security
                    7.6.2.3 Opportunities
                               7.6.2.3.1 Increasing consumer preference for technologically advanced products
                                            FIGURE 60 CONCEPTUAL FRAMEWORK ON CONSUMER ACCEPTANCE OF NEW TECHNOLOGIES
                               7.6.2.3.2 Increasing focus of smart home companies on enhancing customer experience
                                            FIGURE 61 TIMELINE OF SMART SPEAKERS OFFERED BY KEY PLAYERS
    7.7 HOME HEALTHCARE 
           7.7.1 MARKET DYNAMICS
                    7.7.1.1 Drivers
                               7.7.1.1.1 Increasing awareness about fitness and rise in disposable income
                               7.7.1.1.2 Changing demographics to positively affect home health systems
                               7.7.1.1.3 Rising aging population, high incidence of chronic diseases, and need to expand home healthcare access
                               7.7.1.1.4 Aids provided by governments for home healthcare services
                    7.7.1.2 Restraints
                               7.7.1.2.1 Limited awareness and number of general healthcare facilities
                               7.7.1.2.2 Patient safety concerns
                    7.7.1.3 Opportunities
                               7.7.1.3.1 Emerging market for smart wearables to drive home healthcare market
           7.7.2 PRODUCTS COVERED UNDER HOME HEALTHCARE
                    FIGURE 62 SMART HOME MARKET FOR HOME HEALTHCARE PRODUCTS
                    TABLE 137 MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
                    FIGURE 63 PHYSICAL ACTIVITY MONITORS SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
                    TABLE 138 MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 139 MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 140 MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 141 MARKET FOR HOME HEALTHCARE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 142 MARKET FOR HOME HEALTHCARE, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 143 MARKET FOR HOME HEALTHCARE, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 144 MARKET FOR HOME HEALTHCARE, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.7.2.1 Health status monitors
                               7.7.2.1.1 Fitness and heart rate monitors
                                             7.7.2.1.1.1 Growing health consciousness among people driving adoption of fitness and heart rate monitors
                               7.7.2.1.2 Blood pressure monitors
                                             7.7.2.1.2.1 Growing emphasis on treatment and control of diseases contributing to demand for blood pressure monitors
                               7.7.2.1.3 Blood glucose meters
                                             7.7.2.1.3.1 Increasing diabetic population to boost adoption of blood glucose meters
                               7.7.2.1.4 Continuous glucose monitors
                                             7.7.2.1.4.1 Offer better results than conventional glucose monitoring systems
                               7.7.2.1.5 Pulse oximeters
                                             7.7.2.1.5.1 Used to monitor oxygen level present in user’s blood
                    7.7.2.2 Fall detectors
                               7.7.2.2.1 Detects and notifies monitoring personnel if users collapse
                                            TABLE 145 SMART HOME MARKET FOR HEALTH STATUS MONITORS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 146 MARKET FOR HEALTH STATUS MONITORS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 147 MARKET FOR HEALTH STATUS MONITORS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 148 MARKET FOR HEALTH STATUS MONITORS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.7.2.3 Physical activity monitors
                               7.7.2.3.1 Smart wearable devices used to track physical activity levels of users
                                            TABLE 149 MARKET FOR PHYSICAL ACTIVITY MONITORS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 150 MARKET FOR PHYSICAL ACTIVITY MONITORS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 151 MARKET FOR PHYSICAL ACTIVITY MONITORS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 152 MARKET FOR PHYSICAL ACTIVITY MONITORS, BY REGION, 2023–2028 (THOUSAND UNITS)
    7.8 SMART KITCHEN 
           7.8.1 MARKET DYNAMICS
                    7.8.1.1 Drivers
                               7.8.1.1.1 Changing lifestyles and preferences of consumers
                               7.8.1.1.2 Rising importance of energy conservation
                    7.8.1.2 Restraints
                               7.8.1.2.1 High cost of smart kitchen appliances
                    7.8.1.3 Opportunities
                               7.8.1.3.1 Rising adoption of smart appliances in developing countries
                               7.8.1.3.2 Incorporation of IoT in kitchen appliances
           7.8.2 PRODUCTS COVERED UNDER SMART KITCHEN
                    FIGURE 64 MARKET FOR SMART KITCHEN, BY PRODUCT
                    TABLE 153 MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
                    FIGURE 65 SMART DISHWASHERS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 154 MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 155 MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 156 MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 157 MARKET FOR SMART KITCHEN, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 158 SMART HOME MARKET FOR SMART KITCHEN, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 159 MARKET FOR SMART KITCHEN, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 160 MARKET FOR SMART KITCHEN, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.8.2.1 Smart refrigerators
                               7.8.2.1.1 Keep track of how often doors have been opened
                                            TABLE 161 MARKET FOR SMART REFRIGERATORS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 162 MARKET FOR SMART REFRIGERATORS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 163 MARKET FOR SMART REFRIGERATORS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 164 MARKET FOR SMART REFRIGERATORS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.8.2.2 Smart coffee makers
                               7.8.2.2.1 Wi-Fi- or Bluetooth-enabled devices that are fully automatic
                                            TABLE 165 MARKET FOR SMART COFFEE MAKERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 166 MARKET FOR SMART COFFEE MAKERS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 167 MARKET FOR SMART COFFEE MAKERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 168 MARKET FOR SMART COFFEE MARKERS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.8.2.3 Smart kettles
                               7.8.2.3.1 Maintain temperature of water depending on user’s choice
                                            TABLE 169 SMART HOME MARKET FOR SMART KETTLES, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 170 MARKET FOR SMART KETTLES, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 171 MARKET FOR SMART KETTLES, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 172 MARKET FOR SMART KETTLES, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.8.2.4 Smart dishwashers
                               7.8.2.4.1 Innovative features in smart dishwashers reduce human intervention
                                            TABLE 173 MARKET FOR SMART DISHWASHERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 174 MARKET FOR SMART DISHWASHERS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 175 MARKET FOR SMART DISHWASHERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 176 MARKET FOR SMART DISHWASHERS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.8.2.5 Smart ovens
                               7.8.2.5.1 Help users reduce time required for cooking
                                            TABLE 177 MARKET FOR SMART OVENS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 178 MARKET FOR SMART OVENS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 179 SMART HOME MARKET FOR SMART OVENS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 180 MARKET FOR SMART OVENS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.8.2.6 Smart cooktops
                               7.8.2.6.1 Ensure accurate heat circulation
                                            TABLE 181 MARKET FOR SMART COOKTOPS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 182 MARKET FOR SMART COOKTOPS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 183 MARKET FOR SMART COOKTOPS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 184 MARKET FOR SMART COOKTOPS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.8.2.7 Smart cookers
                               7.8.2.7.1 Can be accessed and controlled through apps on smartphones or tablets
                                            TABLE 185 MARKET FOR SMART COOKERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 186 MARKET FOR SMART COOKERS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 187 MARKET FOR SMART COOKERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 188 MARKET FOR SMART COOKERS, BY REGION, 2023–2028 (THOUSAND UNITS)
    7.9 HOME APPLIANCES 
           7.9.1 MARKET DYNAMICS
                    7.9.1.1 Drivers
                               7.9.1.1.1 Availability of wireless solutions
                               7.9.1.1.2 Rising energy prices to increase adoption of smart appliances
                               7.9.1.1.3 Increasing penetration of internet and smartphones worldwide
                    7.9.1.2 Restraints
                               7.9.1.2.1 Privacy concerns among end users
           FIGURE 66 US: NUMBER OF DATA COMPROMISES, 2015–2021
                               7.9.1.2.2 Lack of awareness about smart appliances
                    7.9.1.3 Opportunities
                               7.9.1.3.1 Machine-to-machine (M2M) communication to provide new growth avenues
                               7.9.1.3.2 Integration of new technologies, such as AI, with smart appliances
           7.9.2 PRODUCTS COVERED UNDER HOME APPLIANCES
                    FIGURE 67 SMART HOME MARKET FOR HOME APPLIANCE PRODUCTS
                    TABLE 189 MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
                    FIGURE 68 SMART WASHERS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023
                    TABLE 190 MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 191 MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 192 MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 193 MARKET FOR HOME APPLIANCES, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 194 MARKET FOR HOME APPLIANCES, BY REGION, 2023–2028 (USD MILLION)
                    TABLE 195 MARKET FOR HOME APPLIANCES, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 196 MARKET FOR HOME APPLIANCES, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.9.2.1 Smart washers
                               7.9.2.1.1 Innovative features in smart washers reduce human intervention
                                            TABLE 197 MARKET FOR SMART WASHERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 198 MARKET FOR SMART WASHERS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 199 MARKET FOR SMART WASHERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 200 MARKET FOR SMART WASHERS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.9.2.2 Smart dryers
                               7.9.2.2.1 Help to increase energy efficiency and reduce human intervention
                                            TABLE 201 MARKET FOR SMART DRYERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 202 MARKET FOR SMART DRYERS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 203 SMART HOME MARKET FOR SMART DRYERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 204 MARKET FOR SMART DRYERS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.9.2.3 Smart water heaters
                               7.9.2.3.1 Can turn off automatically when hot water demands are low
                                            TABLE 205 MARKET FOR SMART WATER HEATERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 206 MARKET FOR SMART WATER HEATERS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 207 MARKET FOR SMART WATER HEATERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 208 MARKET FOR SMART WATER HEATERS, BY REGION, 2023–2028 (THOUSAND UNITS)
                    7.9.2.4 Smart vacuum cleaners
                               7.9.2.4.1 Integration with robotic technology to fuel demand for smart vacuum cleaners
                                            TABLE 209 MARKET FOR SMART VACUUM CLEANERS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 210 MARKET FOR SMART VACUUM CLEANERS, BY REGION, 2023–2028 (USD MILLION)
                                            TABLE 211 MARKET FOR SMART VACUUM CLEANERS, BY REGION, 2019–2022 (THOUSAND UNITS)
                                            TABLE 212 MARKET FOR SMART VACUUM CLEANERS, BY REGION, 2023–2028 (THOUSAND UNITS)
    7.1 SMART FURNITURE 
           7.10.1 MARKET DYNAMICS
                    7.10.1.1 Drivers
                               7.10.1.1.1 Changing consumer lifestyles
                               7.10.1.1.2 Growing MARKET trends toward adoption of space-saving furniture
                    7.10.1.2 Restraints
                               7.10.1.2.1 Reluctance toward adopting new technologies
                               7.10.1.2.2 High price of smart furniture
                    7.10.1.3 Opportunities
                               7.10.1.3.1 Incorporation of robotics into smart furniture
           7.10.2 PRODUCTS COVERED UNDER SMART FURNITURE
                    FIGURE 69 MARKET FOR SMART FURNITURE PRODUCTS
                    TABLE 213 SMART HOME MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
                    FIGURE 70 SMART SOFAS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 214 MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 215 MARKET FOR SMART FURNITURE, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 216 MARKET FOR SMART FURNITURE, BY REGION, 2023–2028 (USD MILLION)
                    7.10.2.1 Smart tables
                               7.10.2.1.1 Feature integrated induction-based drink warmer to maintain temperature of beverage
                                            TABLE 217 MARKET FOR SMART TABLES, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 218 MARKET FOR SMART TABLES, BY REGION, 2023–2028 (USD MILLION)
                    7.10.2.2 Smart desks
                               7.10.2.2.1 Provides multiple health benefits to users
                                            TABLE 219 MARKET FOR SMART DESKS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 220 MARKET FOR SMART DESKS, BY REGION, 2023–2028 (USD MILLION)
                    7.10.2.3 Smart stools & benches
                               7.10.2.3.1 Help in reducing energy costs
                                            TABLE 221 MARKET FOR SMART STOOLS & BENCHES, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 222 MARKET FOR SMART STOOLS & BENCHES, BY REGION, 2023–2028 (USD MILLION)
                    7.10.2.4 Smart sofas
                               7.10.2.4.1 Equipped with sensors to help adjust shape as per user’s requirement
                                            TABLE 223 MARKET FOR SMART SOFAS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 224 MARKET FOR SMART SOFAS, BY REGION, 2023–2028 (USD MILLION)
                    7.10.2.5 Smart chairs
                               7.10.2.5.1 Help in promoting healthy sitting posture
                                            TABLE 225 MARKET FOR SMART CHAIRS, BY REGION, 2019–2022 (USD MILLION)
                                            TABLE 226 MARKET FOR SMART CHAIRS, BY REGION, 2023–2028 (USD MILLION)
 
8 MARKET, BY SALES CHANNEL (Page No. - 272)
    8.1 INTRODUCTION 
           FIGURE 71 MARKET SEGMENTATION, BY SALES CHANNEL
           TABLE 227 SMART HOME MARKET, BY SALES CHANNEL, 2019–2022 (USD BILLION)
           FIGURE 72 INDIRECT SALES CHANNEL TO HOLD LARGER MARKET SHARE IN 2028
           TABLE 228 MARKET, BY SALES CHANNEL, 2023–2028 (USD BILLION)
    8.2 DIRECT SALES CHANNEL 
           8.2.1 PLAYERS WITH LIMITED SALES CHANNELS AND DISTRIBUTION NETWORKS TO OPT FOR DIRECT SALES
                    TABLE 229 MARKET FOR DIRECT SALES, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 230 MARKET FOR DIRECT SALES, BY REGION, 2023–2028 (USD BILLION)
    8.3 INDIRECT SALES CHANNEL 
           8.3.1 INCREASED CONVENIENCE TO ENHANCE CUSTOMER EXPERIENCE
                    TABLE 231 MARKET FOR INDIRECT SALES, BY REGION, 2019–2022 (USD BILLION)
                    TABLE 232 MARKET FOR INDIRECT SALES, BY REGION, 2023–2028 (USD BILLION)
 
9 MARKET, BY REGION (Page No. - 277)
    9.1 INTRODUCTION 
           FIGURE 73 CHINA TO WITNESS HIGHEST GROWTH IN MARKET DURING FORECAST PERIOD
           TABLE 233 MARKET, BY REGION, 2019–2022 (USD BILLION)
           FIGURE 74 ASIA PACIFIC FASTEST-GROWING REGION IN MARKET FROM 2023 TO 2028
           TABLE 234 MARKET, BY REGION, 2023–2028 (USD BILLION)
    9.2 NORTH AMERICA 
           9.2.1 REGULATORY FRAMEWORKS
                    9.2.1.1 Associations
                    9.2.1.2 Regulations and acts
                               FIGURE 75 NORTH AMERICA: MARKET SNAPSHOT
                               TABLE 235 NORTH AMERICA: SMART HOME MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                               TABLE 236 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2028 (USD BILLION)
                               TABLE 237 NORTH AMERICA: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 238 NORTH AMERICA: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                               TABLE 239 NORTH AMERICA: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                               TABLE 240 NORTH AMERICA: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                               TABLE 241 NORTH AMERICA: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 242 NORTH AMERICA: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                               TABLE 243 NORTH AMERICA: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 244 NORTH AMERICA: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                               TABLE 245 NORTH AMERICA: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 246 NORTH AMERICA: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                               TABLE 247 NORTH AMERICA: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 248 NORTH AMERICA: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                               TABLE 249 NORTH AMERICA: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 250 NORTH AMERICA: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                               TABLE 251 NORTH AMERICA: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 252 NORTH AMERICA: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
                               TABLE 253 NORTH AMERICA: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                               TABLE 254 NORTH AMERICA: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                               TABLE 255 NORTH AMERICA: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 256 NORTH AMERICA: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
                               TABLE 257 NORTH AMERICA: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                               TABLE 258 NORTH AMERICA: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                               TABLE 259 NORTH AMERICA: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 260 NORTH AMERICA: SMART HOME MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
                               TABLE 261 NORTH AMERICA: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                               TABLE 262 NORTH AMERICA: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                               TABLE 263 NORTH AMERICA: MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 264 NORTH AMERICA: MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
           9.2.2 US
                    9.2.2.1 Presence of various key players to support market growth
           9.2.3 CANADA
                    9.2.3.1 Growing economy to result in increased focus on transitioning toward smart homes
           9.2.4 MEXICO
                    9.2.4.1 Growing economy and increasing use of consumer electronics to favor market growth
           9.2.5 RANKING OF SMART CONTROL ECOSYSTEMS IN NORTH AMERICA
                    TABLE 265 RANKING IN NORTH AMERICA
                    TABLE 266 IMPACTFUL SMART CONTROLS/HUBS/PLATFORMS IN NORTH AMERICA
    9.3 EUROPE 
           9.3.1 REGULATORY FRAMEWORKS
                    FIGURE 76 EUROPE: MARKET SNAPSHOT
                    TABLE 267 EUROPE: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                    TABLE 268 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD BILLION)
                    TABLE 269 EUROPE: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 270 EUROPE: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 271 EUROPE: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 272 EUROPE: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 273 EUROPE: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 274 EUROPE: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 275 EUROPE: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 276 EUROPE: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 277 EUROPE: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 278 EUROPE: SMART HOME MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 279 EUROPE: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 280 EUROPE: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 281 EUROPE: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 282 EUROPE: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 283 EUROPE: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 284 EUROPE: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 285 EUROPE: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 286 EUROPE: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 287 EUROPE: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 288 EUROPE: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 289 EUROPE: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 290 EUROPE: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 291 EUROPE: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 292 EUROPE: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 293 EUROPE: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 294 EUROPE: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 295 EUROPE: MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 296 EUROPE: MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
           9.3.2 UK
                    9.3.2.1 Initiatives to prevent fire accidents to support market growth
           9.3.3 GERMANY
                    9.3.3.1 Adoption of zero-energy systems and development of smart cities to drive market
           9.3.4 FRANCE
                    9.3.4.1 Initiatives to promote adoption of energy-saving products to propel market
           9.3.5 ITALY
                    9.3.5.1 Government activities to promote minimum energy consumption products to boost market growth
           9.3.6 REST OF EUROPE
           9.3.7 RANKING OF SMART CONTROL ECOSYSTEMS IN EUROPE
                    TABLE 297 RANKING IN EUROPE
                    TABLE 298 FEW IMPACTFUL SMART CONTROLS/HUBS/PLATFORMS IN EUROPE
    9.4 ASIA PACIFIC 
           9.4.1 REGULATORY FRAMEWORKS
                    FIGURE 77 ASIA PACIFIC: SMART HOME MARKET SNAPSHOT
                    TABLE 299 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
                    TABLE 300 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD BILLION)
                    TABLE 301 ASIA PACIFIC: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 302 ASIA PACIFIC: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 303 ASIA PACIFIC: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 304 ASIA PACIFIC: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 305 ASIA PACIFIC: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 306 ASIA PACIFIC: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 307 ASIA PACIFIC: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 308 ASIA PACIFIC: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 309 ASIA PACIFIC: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 310 ASIA PACIFIC: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 311 ASIA PACIFIC: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 312 ASIA PACIFIC: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 313 ASIA PACIFIC: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 314 ASIA PACIFIC: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 315 ASIA PACIFIC: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 316 ASIA PACIFIC: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 317 ASIA PACIFIC: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 318 ASIA PACIFIC: SMART HOME MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 319 ASIA PACIFIC: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 320 ASIA PACIFIC: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 321 ASIA PACIFIC: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 322 ASIA PACIFIC: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 323 ASIA PACIFIC: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 324 ASIA PACIFIC: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 325 ASIA PACIFIC: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 326 ASIA PACIFIC: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 327 ASIA PACIFIC: MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 328 ASIA PACIFIC: MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
           9.4.2 JAPAN
                    9.4.2.1 High penetration rate of internet in households to favor market
           9.4.3 SOUTH KOREA
                    9.4.3.1 High demand for advanced security due to growing security concerns to propel market
           9.4.4 CHINA
                    9.4.4.1 Government initiatives for development of smart homes to drive market
           9.4.5 AUSTRALIA
                    9.4.5.1 High demand for entertainment controls and security & access controls to boost market
           9.4.6 REST OF ASIA PACIFIC
           9.4.7 RANKING OF SMART CONTROL ECOSYSTEMS IN ASIA PACIFIC
                    TABLE 329 RANKING IN ASIA PACIFIC
                    TABLE 330 IMPACTFUL SMART CONTROLS/HUBS/PLATFORMS IN ASIA PACIFIC
    9.5 REST OF THE WORLD 
           9.5.1 REGULATORY FRAMEWORKS
                    TABLE 331 REST OF THE WORLD: MARKET, BY REGION, 2019–2022 (USD BILLION)
                    FIGURE 78 SOUTH AMERICA TO HOLD LARGEST SHARE OF MARKET IN 2023
                    TABLE 332 REST OF THE WORLD: SMART HOME MARKET, BY REGION, 2023–2028 (USD BILLION)
                    TABLE 333 REST OF THE WORLD: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 334 REST OF THE WORLD: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 335 REST OF THE WORLD: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 336 REST OF THE WORLD: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028(THOUSAND UNITS)
                    TABLE 337 REST OF THE WORLD: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 338 REST OF THE WORLD: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 339 REST OF THE WORLD: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 340 REST OF THE WORLD: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 341 REST OF THE WORLD: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 342 REST OF THE WORLD: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 343 REST OF THE WORLD: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 344 REST OF THE WORLD: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 345 REST OF THE WORLD: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 346 REST OF THE WORLD: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 347 REST OF THE WORLD: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 348 REST OF THE WORLD: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 349 REST OF THE WORLD: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 350 REST OF THE WORLD: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 351 REST OF THE WORLD: SMART HOME MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 352 REST OF THE WORLD: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 353 REST OF THE WORLD: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 354 REST OF THE WORLD: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 355 REST OF THE WORLD: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 356 REST OF THE WORLD: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
                    TABLE 357 REST OF THE WORLD: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
                    TABLE 358 REST OF THE WORLD: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
                    TABLE 359 REST OF THE WORLD: MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
                    TABLE 360 REST OF THE WORLD: MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
           9.5.2 SOUTH AMERICA
                    9.5.2.1 Government initiatives to support infrastructural development to boost market
           9.5.3 MIDDLE EAST
                    9.5.3.1 Growing consumer awareness regarding benefits of smart appliances to fuel market
           9.5.4 AFRICA
                    9.5.4.1 Growing security concerns coupled with rising awareness of energy conservation to support market
           9.5.5 RANKING OF SMART CONTROL ECOSYSTEMS IN REST OF THE WORLD
                    TABLE 361 RANKING IN MIDDLE EAST
 
10 PROTOCOLS AND TECHNOLOGIES USED IN SMART HOMES (Page No. - 342)
     10.1 INTRODUCTION 
           FIGURE 79 SMART HOME PROTOCOLS AND TECHNOLOGIES
     10.2 CELLULAR NETWORK TECHNOLOGIES 
             10.2.1 CDMA NETWORK
                        10.2.1.1 Helps control smart home appliances and systems using channel access method
             10.2.2 GSM/HSPA NETWORK
                        10.2.2.1 GSM modems control home appliances via short message services
                                     FIGURE 80 GSM/HSPA NETWORK SETUP
             10.2.3 LTE NETWORK
                        10.2.3.1 Enables real-time transfer of data across networks to remotely control smart home applications
     10.3 PROTOCOLS AND STANDARDS 
             10.3.1 DALI
                        10.3.1.1 Full-duplex system that brings digital technology to lighting sector
                                     FIGURE 81 WIRING FOR DALI FLUORESCENT DIMMING
             10.3.2 NEMA
                        10.3.2.1 Standardizes necessary control devices needed to build complete lighting systems
             10.3.3 KNX
                        10.3.3.1 Open standard supporting five communication media, making it versatile to use
             10.3.4 DMX
                        10.3.4.1 Used in communication networks that control lights and effects
             10.3.5 LONWORKS
                        10.3.5.1 Helps in building automation applications designed on low bandwidth for networking devices
                                     FIGURE 82 LONWORKS NETWORK SETUP
             10.3.6 ETHERNET
                        10.3.6.1 Ethernet-based systems used in home entertainment systems or whole-house automation solutions
             10.3.7 MODBUS
                        10.3.7.1 Modbus transmits information between electronic devices over serial lines or via Ethernet
             10.3.8 BACNET
                        10.3.8.1 BACnet protocol commonly used in building automation applications such as HVAC control, lighting control, and smart elevators
             10.3.9 BLACK BOX
                        10.3.9.1 Helps in home automation and integration of home devices into a single console
             10.3.10 PLC
                        10.3.10.1 Uses electric power for data transmission
     10.4 WIRELESS COMMUNICATION TECHNOLOGIES 
             FIGURE 83 WIRELESS COMMUNICATION TECHNOLOGIES
             10.4.1 ZIGBEE
                        10.4.1.1 Used in smart homes to carry small amounts of data over mid-range
             10.4.2 Z-WAVE
                        10.4.2.1 Used in wireless residential control products and services
             10.4.3 WI-FI
                        10.4.3.1 Ideal for data transmission across short distances in small and medium home automation systems
             10.4.4 BLUETOOTH
                        10.4.4.1 Ensures interoperability, minimal interference, and energy efficiency in areas like automation, control, security, and energy management
             10.4.5 ENOCEAN
                        10.4.5.1 Designed for smart home solutions dependent on energy-producing technologies
             10.4.6 THREAD
                        10.4.6.1 Common standard used in smart home applications to connect them over internet and with cloud
             10.4.7 INFRARED
                        10.4.7.1 Used in smart home applications for short- and medium-range communications and control
             10.4.8 MESSAGE QUEUING TELEMETRY TRANSPORT (MQTT)
                        10.4.8.1 Used to send messages between devices in a distributed network
 
11 COMPETITIVE LANDSCAPE (Page No. - 355)
     11.1 OVERVIEW 
     11.2 STRATEGIES ADOPTED BY KEY PLAYERS 
             TABLE 362 OVERVIEW OF STRATEGIES DEPLOYED BY SMART HOME COMPANIES
             11.2.1 PRODUCT PORTFOLIO
             11.2.2 REGIONAL FOCUS
             11.2.3 MANUFACTURING FOOTPRINT
             11.2.4 ORGANIC/INORGANIC PLAY
     11.3 REVENUE ANALYSIS 
             FIGURE 84 FIVE-YEAR REVENUE ANALYSIS OF TOP FIVE PLAYERS IN MARKET FOR HOME AUTOMATION SYSTEMS
     11.4 MARKET SHARE ANALYSIS 
             TABLE 363 DEGREE OF COMPETITION: MARKET FOR HOME AUTOMATION SYSTEMS, 2022
             FIGURE 85 SMART HOME MARKET SHARE ANALYSIS, BY KEY PLAYER, 2022
     11.5 COMPANY EVALUATION QUADRANT 
             11.5.1 STARS
             11.5.2 EMERGING LEADERS
             11.5.3 PERVASIVE PLAYERS
             11.5.4 PARTICIPANTS
                        FIGURE 86 SMART HOME MARKET: COMPANY EVALUATION QUADRANT, 2022
     11.6 STARTUP/SME EVALUATION MATRIX 
             TABLE 364 STARTUPS/SMES IN MARKET
             11.6.1 PROGRESSIVE COMPANIES
             11.6.2 RESPONSIVE COMPANIES
             11.6.3 DYNAMIC COMPANIES
             11.6.4 STARTING BLOCKS
                        FIGURE 87 SMART HOME MARKET: STARTUP/SME EVALUATION MATRIX, 2022
                        TABLE 365 STARTUP PRODUCT MAPPING
     11.7 FOOTPRINT ANALYSIS OF COMPANIES 
             TABLE 366 OVERALL FOOTPRINT ANALYSIS OF COMPANIES
             TABLE 367 PRODUCT FOOTPRINT ANALYSIS OF COMPANIES
             TABLE 368 SALES FOOTPRINT ANALYSIS OF COMPANIES
             TABLE 369 REGIONAL FOOTPRINT ANALYSIS OF COMPANIES
     11.8 COMPETITIVE SITUATIONS AND STATISTICS
             11.8.1 PRODUCT LAUNCHES
                        TABLE 370 PRODUCT LAUNCHES, JANUARY 2019–JANUARY 2023
             11.8.2 DEALS
                        TABLE 371 DEALS, JANUARY 2019–JANUARY 2023
             11.8.3 OTHER DEVELOPMENTS
                        TABLE 372 OTHER DEVELOPMENTS, JANUARY 2019–JANUARY 2023
 
12 COMPANY PROFILES (Page No. - 407)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*  
     12.1 KEY PLAYERS 
             12.1.1 HONEYWELL
                        TABLE 373 HONEYWELL: BUSINESS OVERVIEW
                        FIGURE 88 HONEYWELL: COMPANY SNAPSHOT
             12.1.2 SIEMENS
                        TABLE 374 SIEMENS: BUSINESS OVERVIEW
                        FIGURE 89 SIEMENS: COMPANY SNAPSHOT
             12.1.3 JOHNSON CONTROLS
                        TABLE 375 JOHNSON CONTROLS: BUSINESS OVERVIEW
                        FIGURE 90 JOHNSON CONTROLS: COMPANY SNAPSHOT
             12.1.4 SCHNEIDER ELECTRIC
                        TABLE 376 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
                        FIGURE 91 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
             12.1.5 ASSA ABLOY
                        TABLE 377 ASSA ABLOY: BUSINESS OVERVIEW
                        FIGURE 92 ASSA ABLOY: COMPANY SNAPSHOT
             12.1.6 AMAZON
                        TABLE 378 AMAZON: BUSINESS OVERVIEW
                        FIGURE 93 AMAZON: COMPANY SNAPSHOT
             12.1.7 APPLE
                        TABLE 379 APPLE: BUSINESS OVERVIEW
                        FIGURE 94 APPLE: COMPANY SNAPSHOT
             12.1.8 ADT
                        TABLE 380 ADT: BUSINESS OVERVIEW
                        FIGURE 95 ADT: COMPANY SNAPSHOT
             12.1.9 ROBERT BOSCH
                        TABLE 381 ROBERT BOSCH: BUSINESS OVERVIEW
                        FIGURE 96 ROBERT BOSCH: COMPANY SNAPSHOT
             12.1.10 ABB
                        TABLE 382 ABB: BUSINESS OVERVIEW
                        FIGURE 97 ABB: COMPANY SNAPSHOT
     12.2 OTHER PLAYERS 
             12.2.1 SAMSUNG ELECTRONICS
             12.2.2 SONY
             12.2.3 OOMA
             12.2.4 DELTA CONTROLS
             12.2.5 CONTROL4
             12.2.6 AXIS COMMUNICATIONS
             12.2.7 COMCAST
             12.2.8 ECOBEE
             12.2.9 CRESTRON ELECTRONICS
             12.2.10 SIMPLISAFE
             12.2.11 SAVANT
             12.2.12 CANARY
             12.2.13 LG ELECTRONICS
             12.2.14 LUTRON
             12.2.15 LEGRAND
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.  
 
13 ADJACENT AND RELATED MARKETS (Page No. - 496)
     13.1 INTRODUCTION 
     13.2 LIMITATIONS 
     13.3 CLEANING ROBOT MARKET 
             13.3.1 MARKET DEFINITION
             13.3.2 MARKET OVERVIEW
             13.3.3 CLEANING ROBOT MARKET, BY PRODUCT
                        FIGURE 98 FLOOR-CLEANING ROBOTS TO HOLD LARGEST SIZE OF CLEANING ROBOT MARKET BETWEEN 2022 AND 2027
                        TABLE 383 CLEANING ROBOT MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
                        TABLE 384 CLEANING ROBOT MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
             13.3.4 CLEANING ROBOT MARKET, BY APPLICATION
                        FIGURE 99 CLEANING ROBOT MARKET FOR RESIDENTIAL APPLICATIONS TO HOLD MAJORITY SHARE BETWEEN 2022 AND 2027
                        TABLE 385 CLEANING ROBOT MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                        TABLE 386 CLEANING ROBOT MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
             13.3.5 CLEANING ROBOT MARKET, BY REGION
                        FIGURE 100 CLEANING ROBOT MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR BETWEEN 2022 AND 2027
                        TABLE 387 CLEANING ROBOT MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 388 CLEANING ROBOT MARKET, BY REGION, 2022–2027 (USD MILLION)
     13.4 BUILDING AUTOMATION SYSTEM MARKET 
             13.4.1 MARKET DEFINITION
             13.4.2 MARKET OVERVIEW
             13.4.3 BUILDING AUTOMATION SYSTEM MARKET, BY OFFERING
                        FIGURE 101 SECURITY & ACCESS CONTROLS SEGMENT HELD LARGEST MARKET SHARE IN 2022
                        TABLE 389 BUILDING AUTOMATION SYSTEM MARKET, BY OFFERING, 2018–2021 (USD MILLION)
                        TABLE 390 BUILDING AUTOMATION SYSTEM MARKET, BY OFFERING, 2022–2027 (USD MILLION)
             13.4.4 BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION
                        FIGURE 102 COMMERCIAL APPLICATIONS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2027
                        TABLE 391 BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
                        TABLE 392 BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
             13.4.5 BUILDING AUTOMATION SYSTEM MARKET, BY REGION
                        FIGURE 103 BUILDING AUTOMATION SYSTEM MARKET IN ASIA PACIFIC TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
                        TABLE 393 BUILDING AUTOMATION SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION)
                        TABLE 394 BUILDING AUTOMATION SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION)
 
14 APPENDIX (Page No. - 508)
     14.1 DISCUSSION GUIDE 
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.3 CUSTOMIZATION OPTIONS 
     14.4 RELATED REPORTS 
     14.5 AUTHOR DETAILS 
 

The study involved four major activities in estimating the size of the smart home market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with smart home industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources were referred to for identifying and collecting information important for this study. The secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements), trade shows, professional associations, white papers, process and communication-related journals, websites, and certified publications. They also include articles from recognized authors, gold- and silver-standard websites, directories, and databases. The secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments from both market- and technology-oriented perspectives. The secondary data was collected and analyzed to arrive at the overall market size, which was further validated through primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative information for this report. The primary sources from the supply side include smart home industry experts such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the major smart home companies and organizations operating in the smart home market.

After the complete market engineering (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at in this process. Primary research was conducted to identify segmentation types, industry trends, key players, competitive landscape, and key market dynamics, such as drivers, restraints, opportunities, and challenges, along with the key strategies adopted by the players operating in the smart home market.

Extensive primary research was conducted after acquiring knowledge about the smart home market through secondary research. Several primary interviews were conducted with market experts from the demand and supply sides across four major regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). RoW comprises the Middle East and Africa. Approximately 60% and 40% of primary interviews were conducted with both the demand and supply sides, respectively. This primary data was collected through questionnaires, emails, and telephonic interviews.

Smart Home Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the smart home market . These methods have also been extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:

  • Identifying various applications that use or are expected to use smart homes market.
  • Analyzing historical and current data pertaining to the size of the smart homes market for each application
  • Analyzing the average selling prices of smart homes based on different technologies
  • Studying various paid and unpaid sources, such as annual reports, press releases, white papers, and databases
  • Identifying leading providers of smart homes, studying their portfolios, and understanding features of their products and their underlying technologies, as well as the types of smart homes products offered
  • Tracking ongoing and identifying upcoming developments in the market through investments, research and development activities, product launches, expansions, and partnerships, and forecasting the market size based on these developments and other critical parameters
  • Carrying out multiple discussions with key opinion leaders to understand the technologies used in smart homes, and products wherein they are deployed, and analyze the break-up of the scope of work carried out by key manufacturers of smart homes providers
  • Verifying and crosschecking estimates at every level through discussions with key opinion leaders, such as CXOs, directors, and operations managers, and finally with domain experts at MarketsandMarkets

Market Size Estimation Methodology-Bottom-Up Approach

Smart Home Market Size, and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes explained above-the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.

The main objectives of this study are as follows:

  • To define, describe, segment, and forecast the smart home market, in terms of volume & value, based on Sales Channel, Products, Software and Services, and Region.
  • To forecast the size of the market and its segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with their key countries
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
  • To provide detailed information regarding the key factors influencing market growth, such as drivers, restraints, opportunities, and challenges
  • To provide a detailed smart home market analysis of the smart home value chain
  • To analyze the opportunities in the market for stakeholders and provide a detailed competitive landscape of the market leaders
  • To strategically profile the key players and comprehensively analyze their market ranking and core competencies2
  • To analyze key growth strategies such as expansions, contracts, joint ventures, acquisitions, product launches and developments, and research and development activities undertaken by players operating in the smart home market.

Market Definition

A smart home is incorporated with advanced automation systems that enable inhabitants to monitor and control the functions of the house. Smart home systems enable owners to control lights; heating, ventilation, and air conditioning (HVAC); security alarms; and other household devices remotely through their smartphones, tablets, or computers. Smart homes are equipped with wired and wireless communication technologies such as Wi-Fi, Bluetooth, universal powerline bus (UPB), INSTEON, Z-Wave, and Zigbee to offer intelligent insights and details to homeowners by continuously monitoring various aspects of the homes. As part of the Internet of Things (IoT), smart home systems and devices often operate together, sharing consumer usage data and automating actions based on homeowners’ preferences. According to Smart Home Energy, an association in the UK, smart homes use home automation technologies to provide homeowners with intelligent feedback and information by monitoring many aspects of a home. For example, a smart home’s refrigerator may be able to catalog its contents, suggest menus, recommend healthy alternatives, and order replacements as food is used up.

Key Stakeholders

  • Raw Material and Manufacturing Equipment Suppliers
  • Automation and Control Vendors
  • Automation and Control Networking Technology Vendors
  • Real Estate Builders
  • System Integrators
  • Homeowners
  • Project Consultants
  • Designers/Consultants (HVAC, Security, and Fire and Safety)
  • Component Manufacturers (Sensors and Controls)
  • Home Management System (Products and Servers) Providers
  • Smart Home-related Associations, Organizations, Forums, and Alliances
  • Government Bodies Associated with Green Buildings

Report Objectives

  • To define, describe, and forecast the smart home market size, by software & service, product, sales channel, and region, in terms of value
  • To forecast the smart home market size for lighting control products, video surveillance cameras, biometric readers, smart thermostats, smart speakers, home healthcare products, smart kitchen appliances, and home appliances in terms of volume
  • To define and describe the technologies and protocols used in smart homes
  • To forecast the market size, in terms of value, for various segments with respect to four main regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW)
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To identify the drivers, restraints, opportunities, and challenges impacting the growth of the market and submarkets
  • To analyze the smart home supply chain and identify opportunities for the supply chain participants
  • To provide key technology trends and patent analysis related to the smart home market
  • To provide information regarding trade data related to the smart home market
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the smart home ecosystem
  • To strategically profile the key players in the smart home market and comprehensively analyze their market shares and core competencies in each segment
  • To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market ranking/share and product portfolio
  • To analyze competitive developments such as product launches, alliances and partnerships, joint ventures, and mergers and acquisitions in the smart home market

Available Customizations:

MarketsandMarkets offers the following customizations for this market report:

  • Further breakdown of the market in different regions to the country-level
  • Detailed smart home market analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
SE 3172
Published ON
Mar, 2023
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