Smart Home Hardware Market by Type (Smart Appliances, Security & Surveillance Equipment, Control & Connectivity Devices), and Geography - Global Industry Analysis, Opportunities and Forecast up to 2029

Smart Home Hardware Market Size

The Smart Home Hardware market size was valued at $70.99 billion in 2023 and is projected to reach $164.20 billion by 2029, growing at a CAGR of 15.0% during the forecast period.

Smart Home Hardware Market Overview

Smart home hardware refers to a range of interconnected electronic devices and gadgets designed to enhance the automation, control, and efficiency of various aspects within a household. These devices are equipped with sensors, processors, and communication modules that enable them to connect to a central hub or network, allowing users to remotely monitor and manage their homes through smartphones, tablets, or other smart devices. Examples of smart home hardware include smart thermostats, lighting systems, security cameras, door locks, and appliances, among others. The integration of these devices allows for centralized and programmable control, enabling homeowners to customize and optimize their living spaces for energy efficiency, security, and convenience. As part of the broader Internet of Things (IoT) ecosystem, smart home hardware contributes to the creation of intelligent and responsive living environments, transforming traditional houses into interconnected, automated, and user-friendly spaces.

Smart Home Hardware Market Dynamics

The market dynamics analyzed in this market research report encapsulate a multifaceted interplay of drivers and constraints that significantly shape the landscape of the Smart Home Hardware market. The comprehensive analysis of both drivers and constraints enables a nuanced understanding of the market's dynamics, empowering businesses and stakeholders to make informed decisions in navigating the complexities of the market.

Smart Home Hardware Market Scope

The report “Global Smart Home Hardware Market: Industry Analysis, Opportunities and Forecast up to 2029” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2021, 2022 and offers revenue estimations for 2023, and project forecasts spanning from 2024 to 2029. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Global Smart Home Hardware Market by, Type

·        Smart Appliances

·        Security & Surveillance Equipment

·        Control & Connectivity Devices

Global Smart Home Hardware Market by, Geography

·        North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis.

·        Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis

·        Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis

·        South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis

·        Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis.

Key Players Profiled in this Research Report include:

·        ABB Ltd.

·        Amazon.Com Inc.

·        General Electric Company 

·        Google LLC

·        Honeywell Corporation Inc.

·        Johnson Control Inc.

·        Legrand

·        Panasonic Corporation

·        Samsung Electronics Co. Ltd.

·        Schneider Electric SE

What can be explored with this research report?

·        Understand global Smart Home Hardware market analysis, trends, and forecast to 2029.

·        Understand analysis of the Smart Home Hardware market structure by identifying various segments and sub-segments of the market.

·        Understand revenue forecast and strategic analysis concerning industry trends and contribution to the overall Smart Home Hardware market.

·        Understand the revenue forecast of the Smart Home Hardware market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

·        Identification of major market trends, factors driving, restraining, threatening, and providing opportunities for the Smart Home Hardware market growth.

·        Analyzing opportunities by identification of high-growth segments/revenue pockets in the Smart Home Hardware market.

·        Understand major player profiles in the Smart Home Hardware market and analyze their business strategies.

·        Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the Smart Home Hardware market.

Table Of Content

1 Market Introduction 
 1.1 Market Definition 
 1.2 Research Scope and Segmentation 
 1.3 Stakeholders 
 1.4 List of Abbreviations 
 
2 Executive Summary 
 
3 Research Methodology 
 3.1 Identification of Data 
 3.2 Evaluation of Market Dynamics 
 3.3 Collaboration of Data 
 3.4 Verification and Analysis 
 3.5 Research Approach 
 3.6 Data Sources and Assumptions 
 
4 Market Dynamics 
 4.1 Market Drivers 
 4.2 Market Restraints 
 4.3 Market Opportunities 
 4.4 Market Challenges 
 4.5 Impact of COVID-19 on the Smart Home Hardware Market 
 
5 Porter's Five Force Analysis 
 5.1 Bargaining Power of Suppliers 
 5.2 Bargaining Power of Buyers 
 5.3 Threat of New Entrants 
 5.4 Threat of Substitutes 
 5.5 Competitive Rivalry in the Market 
 
6 Global Smart Home Hardware Market by, Type 
 6.1 Overview 
 6.2 Smart Appliances 
 6.2.1 Heating, Ventilation and Air Conditioning (HVAC) 
 6.2.2 Smart Kitchen Appliances 
 6.3 Security & Surveillance Equipment 
 6.3.1 Video Door Phones 
 6.3.2 Security Cameras 
 6.3.3 Smart Locks 
 6.3.4 Other Security & Surveillance Equipments 
 6.4 Control & Connectivity Devices 
 6.4.1 Lighting Controls 
 6.4.2 Entertainment Devices 
 
7 Global Smart Home Hardware Market by, Geography 
 7.1 Overview 
 7.2 North America 
 7.2.1 US
 7.2.2 Canada
 7.2.3 Mexico
 7.3 Europe 
 7.3.1 Germany
 7.3.2 France
 7.3.3 UK
 7.3.4 Italy
 7.3.5 Spain
 7.3.6 Rest of Europe
 7.4 Asia Pacific 
 7.4.1 China
 7.4.2 Japan
 7.4.3 India
 7.4.4 South Korea
 7.4.5 Australia
 7.4.6 New Zealand
 7.4.7 Rest of Asia Pacific
 7.5 South America 
 7.5.1 Brazil
 7.5.2 Argentina
 7.5.3 Chile
 7.5.4 Rest of South America
 7.6 Middle East & Africa 
 7.6.1 UAE
 7.6.2 Saudi Arabia
 7.6.3 Qatar
 7.6.4 Iran
 7.6.5 South Africa
 7.6.6 Rest of Middle East & Africa
 
8 Key Developments 
 
9 Company Profiling 
 9.1 ABB Ltd. 
 9.1.1 Business Overview
 9.1.2 Product/Service Offering
 9.1.3 Financial Overview
 9.1.4 SWOT Analysis
 9.1.5 Key Activities
 9.2 Amazon.Com Inc. 
 9.3 General Electric Company   
 9.4 Google LLC 
 9.5 Honeywell Corporation Inc. 
 9.6 Johnson Control Inc. 
 9.7 Legrand 
 9.8 Panasonic Corporation 
 9.9 Samsung Electronics Co. Ltd. 
 9.10 Schneider Electric SE