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Smart Homes Technology Market Share 2022 Global Size, Emerging Trends, Import-Export Scenario, Competitive Landscape, Innovations and Business Outlook till 2030

The global smart home technology market will grow at a CAGR of 19.5% during the forecast period 2021-2027. North America’s smart home technology market size was valued at US$ 27,084.3 million in 2020.

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Home automation is a method of controlling devices, appliances, and systems through the internet, which is connected to a computer or network and can be controlled independently and remotely. Smartphones and tablets both interact with connected devices, and the overall adoption of smart homes is mainly accelerated by an increase in smartphone penetration. Applied innovations including cloud computing, IoT, and artificial intelligence, smartphone penetration, and increased internet access are propelling smart or connected technologies forward at an exponential rate, influencing digital transformation in homes and influencing smart product and service creations.

Factors Affecting the Growth of Global Smart Home Technology Market

The trend of smart home appliances including those related to safety & security, smart home entertainment, and energy management is driven primarily by the growth of consumer convenience, safety & security, and energy consumption.

Mobile communication software market growth has been influenced by factors such as the increasing adoption of smartphones and internet penetration around the globe during the review period.

In the coming years, the growth of the Smart Home Market will be driven largely by consumer interest in video doorbells, voice-assist technology (including Alexa and Google Home), and surveillance systems.

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Smart Homes Technology Market.

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Covid-19 Impact on the Global Smart Home Technology Market

Global smart home development has been severely affected by the Covid-19 pandemic.

Depending on the progression of the virus, it is expected that global sales will decrease in this fiscal year.

In China, supply shortages resulting from the Covid-19 disruption have adversely affected smart home systems demand.

A reduction in new construction projects in China and the temporary closure of factories are some of the factors hampering growth in the market.

Regional Outlook of the Global Smart Home Technology Market

The North American market dominated in 2020 due to first-mover advantages. In the current scenario, North America dominates the smart home market due to the growing demand for smart devices and the high penetration of smartphones & the internet. A rising disposable income coupled with government initiatives is expected to lead to the highest growth for the Asia-Pacific region during the studied period.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

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Key Players in the Global Smart Home Technology Market

Several leading competitors in the global smart home technology market include:

Haier Electronics

Samsung Electronics Ltd

United Technologies Corporation

Acuity Brands, Inc.


ABB Limited

IBM Corporation


Cisco Systems, Inc.

Control4 Corporation

Emerson Electric Co.

General Electric Company

Honeywell International Inc.

Crestron Electronics Inc.

Deutsche Telekom AG

LG Electronics Inc.

Monitronics International Inc.

Schneider Electric S.E.

Siemens AG

Vivint Inc.

Other Prominent Players

Aim of the Report: The Global Smart Home Technology Market

The global smart home technology market is segmented by Product, Technology, End-User, and Regions.

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Segmentation based on Product

Safety and Security

Smart Appliances

Heating Ventilating, Air Conditioning (HVAC)

Home Entertainment

Smart Lighting Systems

Smart Energy Management Safety and Security

Smart Appliances

Heating Ventilating, Air Conditioning (HVAC)

Home Entertainment

Smart Lighting Systems

Smart Energy Management

Segmentation based on Technology

Wireless Smart Home Technology

Wi-Fi Technology

Bluetooth Technology

ZigBee Technology

Z Wave Technology

Other Wireless Technology

Wired Smart Technology

Ethernet Technology

Power Line Communication

Fiber to Home Technology

Other Wired Technology

Segmentation based on End-User

Residential End-User

Luxury Homes

Mid-Range Apartments/Homes

Assisted Homes

Low Energy Homes

Commercial End-User

Smart Hotels

Smart Hospitals

Other Commercial Buildings

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Segmentation based on Regions

North America

The U.S.




Western Europe

The UK





Rest of Western Europe

Eastern Europe



Rest of Eastern Europe

Asia Pacific




Australia & New Zealand


Rest of Asia Pacific

Middle East & Africa (MEA)


Saudi Arabia

South Africa

Rest of MEA

South America



Rest of South America

What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

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