Smart homes are increasingly preferred by the population due to their integration of advanced automated systems. These homes offer convenient control over various aspects, such as temperature, multimedia, entertainment systems, security, thermostats, and window and door operations. With the ability to manage these functions remotely through smartphones or voice commands, smart homes provide enhanced comfort, security, and energy efficiency, making them an attractive choice for modern homeowners seeking a more connected and automated living experience.
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Data Bridge Market Research analyses that the North America Smart Home Market was valued at USD 33,150.75 million in 2021 and is expected to reach USD 1,56,002.13 million by 2029, registering a CAGR of 18.30% during the forecast period of 2022-2029. The increasing adoption of smart devices, like smart speakers, thermostats, and lighting, boosts the demand for smart home technologies in North America. These devices offer convenience, energy efficiency, and enhanced control, encouraging more consumers to embrace smart home solutions, and driving market growth.
Key Findings of the Study
Growing awareness among consumers about the benefits of smart homes is expected to drive the market's growth rate
Growing awareness among consumers about the benefits of smart home automation, including energy efficiency, convenience, and enhanced security, is a key driver of the North America Smart Home Market. As people become more conscious of the potential advantages and ease of managing their homes with smart devices, the demand for these technologies increases. The convenience and ability to control various aspects of the home through mobile devices or voice commands contribute to the market's expansion in the region.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020(Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Entertainment Controls, Security and Access Control, HVAC Control, Home Appliances, Smart Kitchen, Lighting Control, Smart Furniture, Home Healthcare, Others), Technology (Wireless, Wired), Software and Service (Behavioral, Proactive), Sales Channel (Direct, Indirect)
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Countries Covered
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U.S., Canada and Mexico in North America
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Market Players Covered
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Honeywell International Inc. (U.S.), Siemens (Germany), Johnson Controls (Ireland), Axis Communications AB (Sweden), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (U.S.), Apple Inc., (U.S.), ADT (US), ABB (Switzerland), Robert Bosch GmbH (Germany), Sony Corporation (Japan), Samsung (South Korea), Ooma Inc., (U.S.), Delta Controls (Canada), Comcast (U.S.), Crestron Electronics Inc., (U.S.), SimpliSafe Inc., (U.S.), Armorax (U.S.), LG Electronics (South Korea), Lutron Electronics Co., Inc (U.S.) and Legrand (France)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The smart home market is segmented on the basis of product type, technology, software and service, and sales channel.
- On the basis of product type, the smart home market is segmented into entertainment controls, security and access control, HVAC control, home appliances, smart kitchen, lighting control, smart furniture, home healthcare, and others.
- On the basis of technology, the smart home market is segmented into wireless, and wired.
- On the basis of software and service, the smart home market is segmented into behavioral, proactive.
- On the basis of sales channel, the smart home market is segmented into direct, and indirect.
Major Players
Data Bridge Market Research recognizes the following companies as the major North America smart home market players in North America smart home market are Honeywell International Inc. (U.S.), Siemens (Germany), Johnson Controls (Ireland), Axis Communications AB (Sweden), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (U.S.), Apple Inc., (U.S.), ADT (US),
Market Developments
- In January 2023, Schneider Electric launched Schneider Home, an energy management solution with a house battery, solar inverter, smart electrical panel, EV charger, and connected outlets controlled via the Schneider Home app.
- In January 2023, Apple launched HomePod (2nd Generation), a smart speaker enabling temperature and humidity monitoring, Siri-powered smart home automation, and smoke/carbon monoxide alarm notifications.
- In November 2022, Schneider Electric and Smartworld Developers partnered to create sustainable, smart homes using Schneider Electric's Wiser Smart Homes and Modular Switches in India.
- In January 2021, Samsung launched the DVM S Eco series, a big capacity Variable Refrigerant Flow (VRF) air conditioning system for upscale apartments, villas, houses, and commercial businesses in India. The system offers smart features like voice control and a linked home experience through the SmartThings app, enabling independent control of each indoor unit. It provides energy efficiency by tracking energy consumption based on outside equipment use.
- In August 2021, Fifth Wall Acquisition Corp. completed a merger with Smartrent.com LLC, a prominent smart appliance and building automation provider, aiming to expand and go public. The acquisition is set to bolster the company's market position and drive further growth.
Regional Analysis
Geographically, the countries covered in the North America smart home market report U.S., Canada and Mexico in North America.
As per Data Bridge Market Research analysis:
U.S is the dominant North America smart home market during the forecast period 2022 - 2029
The U.S. dominates the North America smart home market due to its well-developed infrastructure, including robust internet connectivity and widespread adoption of IOT technologies. The country also benefits from a strong manufacturing base that supports the production of high-quality smart home devices. Additionally, the U.S. market offers a diverse and extensive range of smart home products, meeting the evolving demands of consumers and driving the overall growth of the smart home industry in North America.
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