How big is the single-family smart homes market today, and what are its future growth expectations?
The single-family smart homes market size has grown rapidly in recent years. It will grow from $116.9 billion in 2024 to $137.99 billion in 2025 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, low interest rate environment, and increase in internet penetration.
The single-family smart homes market size is expected to see rapid growth in the next few years. It will grow to $270.19 billion in 2029 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to urbanization, increasing IoT, and rising geriatric population. Major trends in the forecast period include adopting green construction and energy efficient techniques, investing in integration with voice assistants, investing in security solutions, adopting artificial intelligence and robotics, utilizing predictive analytics techniques, and investing in smart switches and displays.
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What key drivers have fueled the single-family smart homes market’s development over the years?
The increasing number of connected homes and the growing implementation of smart home appliances, including speakers, home healthcare products, lightning systems, smart kitchens, smart furniture, and HVAC control solutions, is projected to contribute to the higher demand for the single-family smart homes market. For instance, in September 2023, according to the Eurostat, a Luxembourg-based government administration, 72% of internet users in the Europe utilized internet-connected devices or systems, including smart home appliances, security systems, and personal health monitoring devices in 2022. Additionally, 64% of internet users engaged with smart home entertainment solutions, internet-connected TVs, game consoles, home audio systems, and smart speakers in 2022. Therefore, the increasing implementation of smart home appliances together with a growing number of connected homes across the globe is anticipated to boost the demand for the single-family smart home market over the forecast period.
What is the segmentation for the single-family smart homes market?
The single-family smart homes market covered in this report is segmented –
1) By Product: Home Monitoring And Security, Smart Lighting, Entertainment, Smart Appliances, Combination, Other Products
2) By Software and Service: Proactive, Behavioral
3) By Technology: Wi-Fi, Bluetooth, GSM/GPRS, RFID, Other Technologies
Subsegments:
1) By Home Monitoring And Security: Smart Cameras And Video Doorbells, Motion Sensors And Alarms, Smart Locks And Access Control Systems
2) By Smart Lighting: Smart Bulbs And Fixtures, Lighting Control Systems, Automated Lighting Schedules And Scenes
3) By Entertainment: Smart Speakers And Audio Systems, Streaming Devices And Smart TVs, Home Theater Systems
4) By Smart Appliances: Smart Refrigerators, Smart Ovens And Cooking Appliances, Smart Thermostats And HVAC Systems
5) By Combination: Integrated Smart Home Systems, Packages That Include Multiple Smart Products
6) By Other Products: Smart Blinds And Shades, Smart Irrigation Systems, Home Health Monitoring Devices
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Who are the most influential companies in the single-family smart homes market?
Major companies operating in the single-family smart homes market include Lennar Corporation, PulteGroup, Inc., Meritage Homes Corporation, KB Smart Home, TRI Pointe Group Inc., Shea Homes, Metricon, McGuyer Homebuilders, Inc., Porter Davis, Henley and home automation, Carlisle and home automation, Plantation homes, Tianjin Quick Smart House Co.Ltd, Larsen & Toubro, Gera Developments Company, Panchshil developers, Daiwa House Industry Co, Ltd, Kier Group plc, ELAN home, Loxone, Belmar Builders, D.R. Horton, Toll Brothers, Taylor Morrison, Ryan Homes, Ashton Woods, Habitat for Humanity, International Cooperative Alliance, Smart home building contracting LLC, Simpletech, Qi Systems
What are the top industry trends projected to impact the single-family smart homes market?
Major companies operating in the single-family smart homes market are focusing on innovative products such as, suite of connected home products, to better meet the needs of their existing consumers. A suite of connected household products is a set of smart appliances and gadgets intended to operate collectively to create a smart home environment. These items are often internet-connected and may be operated remotely via a smartphone or other device. For instance, in April 2023, Resideo Technologies, a US-based manufacturer and distributor of technology-driven products and solutions for homes and buildings, launched the Honeywell Home T10+ Smart Thermostat Kits. Honeywell Home T10+ Smart Thermostat Kits are advanced home climate control systems designed to enhance indoor air quality (IAQ) and overall comfort. Enhancing its previous model with advanced features for indoor air quality (IAQ) management. This new thermostat utilizes Resideo’s proprietary RedLINK 3.0 technology, which allows for simultaneous control of humidification, dehumidification, and ventilation systems.
What are the major regional insights for the single-family smart homes market, and which region holds the top position?
The countries covered in the single-family smart homes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
What Does The Single-Family Smart Homes Market Report 2025 Offer?
The single-family smart homes market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Single-family smart homes are futuristic single-family buildings equipped with advanced electronics and wireless devices. The smart home system requires a web portal or smartphone application to interact with the automated system as a user interface.
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