The global automated homes market size was valued at $78.7 billion in 2022, according to a new report by GlobalData Plc. Companies operating in the market are focusing on innovations revolving around reducing costs and increasing usability for the consumer. This is expected to help democratize the industry and ensure more consumer segments can acknowledge the automated home market.
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Automated Homes Market FAQs
- What was the automated homes market size in 2022?
The automated homes market size was valued at $78.7 billion in 2022.
- What will be the automated homes market CAGR during 2023-2030?
The automated homes market will grow at a CAGR of 12% during 2023-2030.
- What are the key segments of automated homes market?
The automated homes market is segmented based on device type and region.
- Who are the leading automated homes market players?
Alibaba Group Holding Ltd, Amazon.com Inc, Apple Inc, Baidu Inc, Google LLC, Honeywell International Inc, Koninklijke Philips NV, NETGEAR Inc, Samsung Electronics Co Ltd, Sonos Inc, and Wyze Labs Inc are some of the leading automated homes market players
- Which was the leading regional segment in automated homes market?
North America was the leading regional segment in automated homes market.
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Automated Homes Market Dynamics
Over the past five years, automated home devices have become more pervasive in households worldwide. This was further accelerated by the COVID-19 pandemic. Consumers have been able to derive numerous benefits from installing such devices in their homes, making them more secure, more energy-efficient, and making day-to-day tasks easier.
However, fears around data privacy are widespread and a significant barrier to the widespread adoption of automated home devices. Fueled by fear of high-profile data breaches, individuals are concerned about their automated home devices being hacked. However, as more companies offer products that provide protection to consumer’s personal data, the adoption of smart home devices is anticipated to grow in the coming years.
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Automated Homes Market Report Highlights
- The global automated homes market is projected to witness a CAGR of 12.0% from 2023 to 2030. Increasing popularity of IoT, growing demand for convenience, increased focus on energy efficiency, aging population, and security concerns is expected to drive the automated homes market growth over the forecast period.
- The smart security segment accounted for a market share of 36.8% in 2022. Growing criminal activities such as burglaries has resulted in an increasing demand for smart security devices such as cameras.
- North America captured over 50% of the overall automated homes market revenue in 2022. Higher spending power and affinity towards technology are the major factors influencing the regional market share.
- The leading automated homes companies are Alibaba Group Holding Ltd, Amazon.com Inc, Apple Inc, Baidu Inc, Google LLC, Honeywell International Inc, Koninklijke Philips NV, NETGEAR Inc, Samsung Electronics Co Ltd, Sonos Inc, and Wyze Labs Inc.
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Automated Homes Market Segmentation
Global Automated Homes Device Type Outlook (Revenue, $ Million, 2019-2030)
- Smart Speakers
- Smart Thermostats
- Smart Lighting
- Smart Security
- Smart Appliances
Global Automated Homes Regional Outlook (Revenue, $ Million, 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South & Central America
- Rest of South & Central America
- Middle East & Africa
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