Smart Homes Market, Global, 2024–2030

The global smart homes market is projected to reach $405.94 billion by 2030 at a compound annual growth rate of 9.3% from 2024, fueled by demand for convenience, energy efficiency, security, and comfort, alongside rising disposable incomes, urbanization, and the proliferation of IoT-enabled devices. Falling prices and simplified DIY installation are accelerating adoption across diverse income levels. Frost & Sullivan segments the market into five key areas: home energy management, home automation and control, home safety and security, home entertainment, and health and wellness. Each is treated as a distinct market covering all relevant products, systems, software, and services. Entertainment systems are a primary consumer entry point, followed by energy management and security solutions, while voice assistants with advanced natural language processing enable conversational control, particularly benefiting elderly and disabled users.

The demand for sustainability drives adoption of energy-efficient appliances, such as smart washing machines, air conditioners, lighting, thermostats, and home energy monitors, aligning with eco-conscious consumers. The Matter standard enhances interoperability, fostering industry convergence.

The report provides detailed market sizing and forecasts across four regions, with country-level analyses for the United States, United Kingdom, Germany, France, India, China, Japan, and South Korea, which account for approximately 64.5% of market revenue. Extended insights and granular data are available through Frost & Sullivan’s Growth Generator platform, offering stakeholders a strategic understanding of market trends, growth opportunities, and competitive dynamics shaping the smart home ecosystem.