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Connected Homes Market By Functionality (Energy and Utilities Management, Smart Entertainment, Wellness and Monitoring, Security and Safety, Smart Appliance); By Component (Light Control Solution, Security Solution, Entertainment Solution, Home Healthcare Solution, Energy Management Solution); By Platform (Smartphones, Laptops, Home Gateway, Other Platforms); By Type of Homes (Apartment, Villa/Bungalow, Other Homes) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2019-2022
Base Year	2023
Forecast Period	2024-2032
Connected Homes Market Size 2023	USD 80,924.71 Million
Connected Homes Market, CAGR	9.50%
Connected Homes Market Size 2032	USD 183,150.55 Million

Market Overview

The global connected homes market is projected to grow from USD 80,924.71 million in 2023 to USD 183,150.55 million by 2032, at a CAGR of 9.50%.

The global connected homes market is driven by the increasing demand for energy efficiency and enhanced home security. Advancements in IoT and AI technologies enable seamless integration and smarter home automation, fueling market growth. The rise in consumer awareness about the benefits of connected home devices, coupled with the expansion of high-speed internet services, further supports the market’s expansion. Additionally, ongoing innovations in user interface designs are making connected home solutions more accessible and appealing to a broader audience. These factors collectively propel the global connected homes market forward, reflecting a trend towards more interconnected and tech-savvy living environments.

The Global Connected Homes Market exhibits significant growth across North America, Europe, Asia-Pacific, and other regions, driven by varying technological adoption rates and consumer preferences. Key players such as Google, Amazon, and Samsung are pivotal in advancing the market, leveraging their technological expertise and expansive consumer bases. In North America, the market thrives due to high consumer tech-savviness and robust infrastructure. Conversely, Asia-Pacific is witnessing rapid growth due to increasing internet penetration and a rising middle class. These regional dynamics, coupled with the innovations from leading companies, are crucial in shaping the connected homes landscape globally.

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Market Drivers

Increased Consumer Adoption

Consumers are increasingly interested in smart home technology due to its numerous benefits including convenience, security, and energy efficiency. For instance, smart thermostats have the capability to learn a homeowner’s habits and adjust the temperature accordingly, leading to significant energy savings. For instance, the adoption of smart thermostats has led to an average energy savings of 10-12% on heating and 15% on cooling. Smart locks and security cameras have also seen a surge in popularity, with the market growing by 18% annually, as they offer the convenience of remote management and act as a deterrent to crime.

Advancements in IoT and AI Technologies

The Internet of Things (IoT) and Artificial Intelligence (AI) are pivotal in advancing the connected homes market. IoT enables appliances and devices to connect to the internet, enhancing their functionality and utility. In the realm of IoT and AI technologies, there has been a 300% increase in the number of connected devices over the past five years. Smart speakers, for example, have become central to the smart home ecosystem, with 70% of smart home device owners using them to control other devices. This convenience factor has contributed to a 20% year-over-year increase in the smart speaker market. For example, smart speakers equipped with AI assistants can control other smart home devices, respond to queries, and stream music, simplifying the user experience and bolstering market growth.

Emphasis on Energy Efficiency and Sustainability

As awareness of energy efficiency and sustainability grows, more consumers are turning to smart home technology to reduce their environmental impact. Regarding energy efficiency and sustainability, smart lighting systems have been particularly impactful, reducing energy usage by up to 60% compared to traditional lighting. This aligns with the consumer trend towards sustainable living, as 85% of consumers express a preference for energy-efficient products. The emphasis on sustainability is further evidenced by the fact that 45% of new homes are now being equipped with some form of smart energy management system, reflecting the growing demand for eco-friendly living solutions.

Integration, Interoperability, and Smart Home Services

The increasing integration and interoperability of smart home devices make it easier for consumers to manage a fully connected home environment. This seamless connectivity is complemented by a variety of smart home services such as security monitoring, appliance diagnostics, and energy management, which enhance the value and appeal of smart home systems. Furthermore, the proliferation of voice assistants like Amazon Alexa, Google Assistant, and Apple Siri simplifies the management of smart devices through intuitive voice commands, thereby enriching the user experience and facilitating wider adoption.

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Market Trends

Enhanced Security Measures:

As the amount of time spent at home increases, security and safety remain paramount concerns among consumers. For instance, in the past year, the global market for smart home security cameras has seen a 20% increase, with over 30 million units sold worldwide. Video doorbells have become particularly popular, with a 25% rise in sales, indicating a strong consumer preference for visual verification of visitors. Integrated security systems are also on the rise, with a 40% increase in installations, as they offer comprehensive protection by combining various security devices into one networked solution. These systems often include remote control features, which have been used by 60% of homeowners to monitor their homes while away. These technologies offer remote control and monitoring capabilities, providing homeowners with peace of mind and enhanced protection against intrusions.

Dominance of Voice-Enabled Control:

Voice assistants such as Alexa and Google Assistant are revolutionizing the way users interact with their smart home systems. Voice assistants, such as Alexa and Google Assistant, are now present in over 70 million homes, with a 35% year-over-year growth in usage. For instance, 55% of smart home device owners use voice commands daily to interact with their devices. This trend is bolstered by the fact that 65% of users find voice control more convenient than traditional interfaces. As a result, voice commands are becoming the central interface for the smart home, with 80% of new smart home devices being developed with built-in voice control capabilities. This trend is expected to expand further, making voice commands the central interface for navigating the connected home environment.

Market Challenges Analysis

Security Concerns and Economic Barriers

Consumers express legitimate concerns regarding the security of their personal data and the vulnerability of smart home devices to hacking. These anxieties are fueled by incidents of data breaches and unauthorized access, which pose serious threats to personal privacy and security. Such security challenges necessitate robust cybersecurity measures and continuous updates to maintain the integrity and trustworthiness of smart home systems. The initial setup of a smart home system often involves substantial expenses, including the cost of devices and installation fees, which can be prohibitive for many potential users. Moreover, the technical complexity of configuring and operating these systems can discourage those who are not technologically adept. Simplifying these systems and making them more user-friendly, alongside reducing costs, is crucial to expanding market penetration.

Integration Challenges and Market Limitations

Despite advancements, many smart home devices still face significant challenges in achieving seamless communication, particularly across different brands. This lack of interoperability leads to a fragmented user experience and diminishes the overall functionality and appeal of connected homes. Enhancing compatibility across diverse systems remains a critical step toward creating a more cohesive and functional smart home environment. Several external factors also impede the growth of the connected homes market. Limited broadband access in certain areas restricts the functionality of smart home devices, which rely heavily on stable, high-speed internet connections. Additionally, the evolving regulatory landscape poses another challenge, as governments work to establish regulations that ensure data privacy and security without stifling innovation. This regulatory uncertainty can create hesitation among businesses and consumers alike.

Market Segmentation Analysis:

By Functionality:

The Global Connected Homes Market is segmented by functionality into several key areas: Energy and Utilities Management, Smart Entertainment, Wellness and Monitoring, Security and Safety, and Smart Appliance. Each segment caters to specific consumer needs and preferences. Energy and Utilities Management focuses on optimizing energy usage and reducing costs through smart thermostats and automated lighting systems. Smart Entertainment enhances the in-home experience with advanced systems for audio, video, and other multimedia services. Wellness and Monitoring emphasize health-related features, including environment monitoring and emergency notification systems. Security and Safety are paramount, with products like smart locks and surveillance systems providing enhanced protection. Lastly, Smart Appliances integrate IoT technology to streamline kitchen and household operations, making daily tasks simpler and more efficient.

By Component:

In terms of components, the market is divided into Light Control Solutions, Security Solutions, Entertainment Solutions, Home Healthcare Solutions, and Energy Management Solutions. Light Control Solutions offer automated and customizable lighting settings that enhance convenience and energy efficiency. Security Solutions focus on safeguarding homes through alarms, cameras, and integrated security systems. Entertainment Solutions provide seamless integration of home theater and multimedia, enriching the user’s entertainment experience. Home Healthcare Solutions cater to health management with devices that monitor vital signs and offer regular updates to healthcare providers. Energy Management Solutions help manage and reduce energy consumption through smart grids and energy-efficient appliances, aligning with global sustainability goals. Each component is integral to the connected homes ecosystem, driving the overall market growth by meeting diverse consumer demands.

Segments:

Based on Functionality

Energy and Utilities Management
Smart Entertainment
Wellness and Monitoring
Security and Safety
Smart Appliance

Based on Component

Light Control Solution
Security Solution
Entertainment Solution
Home Healthcare Solution
Energy Management Solution

Based on Platform

Smartphones
Laptops
Home Gateway
Other Platforms

Based on Type of Homes

Apartment
Villa/Bungalow
Other Homes

Based on the Geography:

North America
Asia-Pacific
South America
Europe
Middle East and Africa

Regional Analysis

North America, comprising the United States and Canada, holds a dominant market share of approximately 35% in the global connected homes market. This region has been at the forefront of technological innovations and early adoption of smart home technologies. The presence of major technology companies, coupled with consumer awareness and demand for convenience and energy efficiency, has fueled the growth of the connected homes market in North America.

The Asia-Pacific region, including countries like China, Japan, and South Korea, accounts for around 30% of the global connected homes market share. This region has witnessed a rapid adoption of connected home solutions, driven by factors such as urbanization, rising disposable incomes, and the proliferation of smartphones and internet connectivity. Government initiatives and smart city projects in countries like China and Singapore have further accelerated the growth of the connected homes market in the Asia-Pacific region.

Key Player Analysis

Ericsson AB
Companies Co
Schneider Electric Se
Siemens AG
ABB Ltd.
Honeywell International, Inc.
General Electric Company
United Technologies Corporation
Johnson Controls, Inc.
Legrand S.A.
Samsung Electronics Co., Ltd.

Competitive Analysis

The competitive landscape of the Global Connected Homes Market is dynamic, with major players such as Google, Amazon, Samsung, and Apple playing pivotal roles. These companies dominate due to their extensive technological capabilities, brand reputation, and innovative product offerings that integrate seamlessly with various smart home devices. Google and Amazon, for instance, leverage their voice assistant technologies (Google Assistant and Amazon Alexa) to enhance user interaction with connected home systems. Samsung and Apple, on the other hand, utilize their strong presence in consumer electronics to push the boundaries of what connected home devices can achieve, focusing on interoperability and user-friendly interfaces. These companies are engaged in fierce competition, constantly updating their product lines and exploring new market segments to cater to evolving consumer demands. Their strategies typically involve heavy investments in R&D, strategic partnerships, and aggressive marketing, which help them maintain and extend their market dominance.

Recent Developments

In 2023, the advanced home automation with Alexa was introduced by Amazon with the penetration of the artificial intelligence that can do wonders in controlling the home with the connected devices. The new feature accelerates the control devices with echo hubs and map view that eventually to leverage the living experience to the extent.
In 2023, Ecobee is ready to set the trend in the connected home by launching the Ecobee Smart Doorbell Camera Review. This company is stepping towards the expansion fot he company’s product portfolio by launching ecosystem products in favor to the user with the latest technological developments. Ecobee is planning to deliver advanced wireless technological thermostats that operates with the sensors connected with the internet technology.

Market Concentration & Characteristics

The Global Connected Homes Market is characterized by a moderate to high level of market concentration, dominated by a few major technology firms that have leveraged their extensive capabilities in innovation and consumer reach to establish strong market positions. Companies like Google, Amazon, Samsung, and Apple are at the forefront, controlling a significant share of the market due to their established ecosystems of devices and services, which promote user stickiness and brand loyalty. The market features a blend of direct competition and strategic collaborations among these key players, aiming to enhance product interoperability and expand consumer base. Additionally, the market is also witnessing an influx of startups and mid-size enterprises that introduce niche innovations and specialized solutions, contributing to the dynamic and competitive nature of the market. This concentration and the evolving characteristics ensure ongoing advancements and the introduction of more integrated and consumer-friendly smart home solutions.

Report Coverage

The research report offers an in-depth analysis based on Functionality, Component, Platform, Type of Homes and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

Continued growth in IoT and AI integration will enhance the functionality and user-friendliness of connected home devices.
Expansion of voice assistant capabilities will likely become central to the operation of smart home systems.
Increased focus on energy efficiency and sustainability will drive demand for smart utility management solutions.
Advancements in cybersecurity measures to protect user data and prevent unauthorized access will become a priority.
Greater emphasis on interoperability will lead to more seamless communication between devices from different manufacturers.
The development of more intuitive user interfaces will lower the barrier for entry for non-tech-savvy consumers.
Expansion of high-speed internet in developing regions will open new markets for connected home technologies.
Regulatory changes will shape the market, with increased focus on privacy and data security.
Adoption of connected home technologies in rental properties and multi-family units will increase.
Integration of health and wellness features will expand, making connected homes central to personal health management.

Table of Content
CHAPTER NO. 1 : INTRODUCTION 20
1.1.1. Report Description 20
Purpose of the Report 20
USP & Key Offerings 20
1.1.2. Key Benefits for Stakeholders 20
1.1.3. Target Audience 21
1.1.4. Report Scope 21
CHAPTER NO. 2 : EXECUTIVE SUMMARY 22
2.1. Connected Homes Market Snapshot 22
2.1.1. Global Connected Homes Market, 2018 – 2032 (USD Million) 23
CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 24
3.1. Russia-Ukraine and Israel-Palestine War Impacts 24
CHAPTER NO. 4 : CONNECTED HOMES MARKET – INDUSTRY ANALYSIS 25
4.1. Introduction 25
4.2. Market Drivers 26
4.2.1. Driving Factor 1 Analysis 26
4.2.2. Driving Factor 2 Analysis 27
4.3. Market Restraints 28
4.3.1. Restraining Factor Analysis 28
4.4. Market Opportunities 29
4.4.1. Market Opportunity Analysis 29
4.5. Porter’s Five Forces Analysis 30
CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 31
5.1. Company Market Share Analysis – 2023 31
5.1.1. Global Connected Homes Market: Company Market Share, by Volume, 2023 31
5.1.2. Global Connected Homes Market: Company Market Share, by Revenue, 2023 32
5.1.3. Global Connected Homes Market: Top 6 Company Market Share, by Revenue, 2023 32
5.1.4. Global Connected Homes Market: Top 3 Company Market Share, by Revenue, 2023 33
5.2. Global Connected Homes Market Company Revenue Market Share, 2023 34
5.3. Company Assessment Metrics, 2023 35
5.3.1. Stars 35
5.3.2. Emerging Leaders 35
5.3.3. Pervasive Players 35
5.3.4. Participants 35
5.4. Start-ups /SMEs Assessment Metrics, 2023 35
5.4.1. Progressive Companies 35
5.4.2. Responsive Companies 35
5.4.3. Dynamic Companies 35
5.4.4. Starting Blocks 35
5.5. Strategic Developments 36
5.5.1. Acquisitions & Mergers 36
New Product Launch 36
Global Expansion 36
5.6. Key Players Product Matrix 37
CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 38
6.1. PESTEL 38
6.1.1. Political Factors 38
6.1.2. Economic Factors 38
6.1.3. Social Factors 38
6.1.4. Technological Factors 38
6.1.5. Environmental Factors 38
6.1.6. Legal Factors 38
6.2. Adjacent Market Analysis 38
CHAPTER NO. 7 : CONNECTED HOMES MARKET – BY FUNCTIONALITY SEGMENT ANALYSIS 39
7.1. Connected Homes Market Overview, by Functionality Segment 39
7.1.1. Connected Homes Market Revenue Share, By Functionality, 2023 & 2032 40
7.1.2. Connected Homes Market Attractiveness Analysis, By Functionality 41
7.1.3. Incremental Revenue Growth Opportunity, by Functionality, 2024 – 2032 41
7.1.4. Connected Homes Market Revenue, By Functionality, 2018, 2023, 2027 & 2032 42
7.2. Energy and Utilities Management 43
7.3. Smart Entertainment 44
7.4. Wellness and Monitoring 45
7.5. Security and Safety 46
7.6. Smart Appliance 47
CHAPTER NO. 8 : CONNECTED HOMES MARKET – BY COMPONENT SEGMENT ANALYSIS 48
8.1. Connected Homes Market Overview, by Component Segment 48
8.1.1. Connected Homes Market Revenue Share, By Component, 2023 & 2032 49
8.1.2. Connected Homes Market Attractiveness Analysis, By Component 50
8.1.3. Incremental Revenue Growth Opportunity, by Component, 2024 – 2032 50
8.1.4. Connected Homes Market Revenue, By Component, 2018, 2023, 2027 & 2032 51
8.2. Light Control Solution 52
8.3. Security Solution 53
8.4. Entertainment Solution 54
8.5. Homehealthcare Solution 55
8.6. Energy Management Solution 56
CHAPTER NO. 9 : CONNECTED HOMES MARKET – BY PLATFORM SEGMENT ANALYSIS 57
9.1. Connected Homes Market Overview, by Platform Segment 57
9.1.1. Connected Homes Market Revenue Share, By Platform, 2023 & 2032 58
9.1.2. Connected Homes Market Attractiveness Analysis, By Platform 59
9.1.3. Incremental Revenue Growth Opportunity, by Platform, 2024 – 2032 59
9.1.4. Connected Homes Market Revenue, By Platform, 2018, 2023, 2027 & 2032 60
9.2. Smartphones 61
9.3. Laptops 62
9.4. Home Gateway 63
9.5. Other Platforms 64
CHAPTER NO. 10 : CONNECTED HOMES MARKET – BY TYPE OF HOMES SEGMENT ANALYSIS 65
10.1. Connected Homes Market Overview, by Type of Homes Segment 65
10.1.1. Connected Homes Market Revenue Share, By Type of Homes, 2023 & 2032 66
10.1.2. Connected Homes Market Attractiveness Analysis, By Type of Homes 67
10.1.3. Incremental Revenue Growth Opportunity, by Type of Homes, 2024 – 2032 67
10.1.4. Connected Homes Market Revenue, By Type of Homes, 2018, 2023, 2027 & 2032 68
10.2. Apartment 69
10.3. Villa/Bungalow 70
10.4. Other Homes 71
CHAPTER NO. 11 : CONNECTED HOMES MARKET – GLOBAL ANALYSIS 72
11.1. Functionality 72
11.1.1. Global Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 72
11.2. Global Connected Homes Market Revenue, By Functionality, 2024 – 2032 (USD Million) 72
11.3. Component 73
11.3.1. Global Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 73
11.3.2. Global Connected Homes Market Revenue, By Component, 2024 – 2032 (USD Million) 73
11.4. Platform 74
11.4.1. Global Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 74
11.4.2. Global Connected Homes Market Revenue, By Platform, 2024 – 2032 (USD Million) 74
11.5. Type of Homes 75
11.5.1. Global Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 75
11.5.2. Global Connected Homes Market Revenue, By Type of Homes, 2024 – 2032 (USD Million) 75
CHAPTER NO. 12 : CONNECTED HOMES MARKET – NORTH AMERICA 76
12.1. North America 76
12.1.1. Key Highlights 76
12.1.2. North America Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 77
12.1.3. North America Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 78
12.1.4. North America Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 79
12.1.5. North America Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 80
12.1.6. North America Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 81
12.2. U.S. 82
12.3. Canada 82
12.4. Mexico 82
CHAPTER NO. 13 : CONNECTED HOMES MARKET – EUROPE 83
13.1. Europe 83
13.1.1. Key Highlights 83
13.1.2. Europe Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 84
13.1.3. Europe Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 85
13.1.4. Europe Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 86
13.1.5. Europe Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 87
13.1.6. Europe Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 88
13.2. UK 89
13.3. France 89
13.4. Germany 89
13.5. Italy 89
13.6. Spain 89
13.7. Russia 89
13.8. Belgium 89
13.9. Netherland 89
13.10. Austria 89
13.11. Sweden 89
13.12. Poland 89
13.13. Denmark 89
13.14. Switzerland 89
13.15. Rest of Europe 89
CHAPTER NO. 14 : CONNECTED HOMES MARKET – ASIA PACIFIC 90
14.1. Asia Pacific 90
14.1.1. Key Highlights 90
14.1.2. Asia Pacific Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 91
14.1.3. Asia Pacific Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 92
14.1.4. Asia Pacific Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 93
14.1.5. Asia Pacific Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 94
14.1.6. Asia Pacific Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 95
14.2. China 96
14.3. Japan 96
14.4. South Korea 96
14.5. India 96
14.6. Australia 96
14.7. Thailand 96
14.8. Indonesia 96
14.9. Vietnam 96
14.10. Malaysia 96
14.11. Philippines 96
14.12. Taiwan 96
14.13. Rest of Asia Pacific 96
CHAPTER NO. 15 : CONNECTED HOMES MARKET – LATIN AMERICA 97
15.1. Latin America 97
15.1.1. Key Highlights 97
15.1.2. Latin America Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 98
15.1.3. Latin America Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 99
15.1.4. Latin America Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 100
15.1.5. Latin America Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 101
15.1.6. Latin America Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 102
15.2. Brazil 103
15.3. Argentina 103
15.4. Peru 103
15.5. Chile 103
15.6. Colombia 103
15.7. Rest of Latin America 103
CHAPTER NO. 16 : CONNECTED HOMES MARKET – MIDDLE EAST 104
16.1. Middle East 104
16.1.1. Key Highlights 104
16.1.2. Middle East Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 105
16.1.3. Middle East Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 106
16.1.4. Middle East Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 107
16.1.5. Middle East Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 108
16.1.6. Middle East Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 109
16.2. UAE 110
16.3. KSA 110
16.4. Israel 110
16.5. Turkey 110
16.6. Iran 110
16.7. Rest of Middle East 110
CHAPTER NO. 17 : CONNECTED HOMES MARKET – AFRICA 111
17.1. Africa 111
17.1.1. Key Highlights 111
17.1.2. Africa Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 112
17.1.3. Africa Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 113
17.1.4. Africa Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 114
17.1.5. Africa Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 115
17.1.6. Africa Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 116
17.2. Egypt 117
17.3. Nigeria 117
17.4. Algeria 117
17.5. Morocco 117
17.6. Rest of Africa 117
CHAPTER NO. 18 : COMPANY PROFILES 118
18.1. Ericsson AB 118
18.1.1. Company Overview 118
18.1.2. Product Portfolio 118
18.1.3. Swot Analysis 118
18.1.4. Business Strategy 119
18.1.5. Financial Overview 119
18.2. Companies Co 120
18.3. Schneider Electric Se 120
18.4. Siemens AG 120
18.5. ABB Ltd. 120
18.6. Honeywell International, Inc. 120
18.7. General Electric Company 120
18.8. United Technologies Corporation 120
18.9. Johnson Controls, Inc. 120
18.10. Legrand S.A. 120
18.11. Samsung Electronics Co., Ltd. 120
CHAPTER NO. 19 : RESEARCH METHODOLOGY 121
19.1. Research Methodology 121
19.1.1. Phase I – Secondary Research 122
19.1.2. Phase II – Data Modeling 122
Company Share Analysis Model 123
Revenue Based Modeling 123
19.1.3. Phase III – Primary Research 124
19.1.4. Research Limitations 125
Assumptions 125

List of Figures
FIG NO. 1. Global Connected Homes Market Revenue, 2018 – 2032 (USD Million) 25
FIG NO. 2. Porter’s Five Forces Analysis for Global Connected Homes Market 32
FIG NO. 3. Company Share Analysis, 2023 33
FIG NO. 4. Company Share Analysis, 2023 34
FIG NO. 5. Company Share Analysis, 2023 34
FIG NO. 6. Company Share Analysis, 2023 35
FIG NO. 7. Connected Homes Market – Company Revenue Market Share, 2023 36
FIG NO. 8. Connected Homes Market Revenue Share, By Functionality, 2023 & 2032 42
FIG NO. 9. Market Attractiveness Analysis, By Functionality 43
FIG NO. 10. Incremental Revenue Growth Opportunity by Functionality, 2024 – 2032 43
FIG NO. 11. Connected Homes Market Revenue, By Functionality, 2018, 2023, 2027 & 2032 44
FIG NO. 12. Global Connected Homes Market for Energy and Utilities Management, Revenue (USD Million) 2018 – 2032 45
FIG NO. 13. Global Connected Homes Market for Smart Entertainment, Revenue (USD Million) 2018 – 2032 46
FIG NO. 14. Global Connected Homes Market for Wellness and Monitoring, Revenue (USD Million) 2018 – 2032 47
FIG NO. 15. Global Connected Homes Market for Security and Safety, Revenue (USD Million) 2018 – 2032 48
FIG NO. 16. Global Connected Homes Market for Smart Appliance, Revenue (USD Million) 2018 – 2032 49
FIG NO. 17. Connected Homes Market Revenue Share, By Component, 2023 & 2032 51
FIG NO. 18. Market Attractiveness Analysis, By Component 52
FIG NO. 19. Incremental Revenue Growth Opportunity by Component, 2024 – 2032 52
FIG NO. 20. Connected Homes Market Revenue, By Component, 2018, 2023, 2027 & 2032 53
FIG NO. 21. Global Connected Homes Market for Light Control Solution, Revenue (USD Million) 2018 – 2032 54
FIG NO. 22. Global Connected Homes Market for Security Solution, Revenue (USD Million) 2018 – 2032 55
FIG NO. 23. Global Connected Homes Market for Entertainment Solution, Revenue (USD Million) 2018 – 2032 56
FIG NO. 24. Global Connected Homes Market for Homehealthcare Solution, Revenue (USD Million) 2018 – 2032 57
FIG NO. 25. Global Connected Homes Market for Energy Management Solution, Revenue (USD Million) 2018 – 2032 58
FIG NO. 26. Connected Homes Market Revenue Share, By Platform, 2023 & 2032 60
FIG NO. 27. Market Attractiveness Analysis, By Platform 61
FIG NO. 28. Incremental Revenue Growth Opportunity by Platform, 2024 – 2032 61
FIG NO. 29. Connected Homes Market Revenue, By Platform, 2018, 2023, 2027 & 2032 62
FIG NO. 30. Global Connected Homes Market for Smartphones, Revenue (USD Million) 2018 – 2032 63
FIG NO. 31. Global Connected Homes Market for Laptops, Revenue (USD Million) 2018 – 2032 64
FIG NO. 32. Global Connected Homes Market for Home Gateway, Revenue (USD Million) 2018 – 2032 65
FIG NO. 33. Global Connected Homes Market for Other Platforms, Revenue (USD Million) 2018 – 2032 66
FIG NO. 34. Connected Homes Market Revenue Share, By Type of Homes, 2023 & 2032 68
FIG NO. 35. Market Attractiveness Analysis, By Type of Homes 69
FIG NO. 36. Incremental Revenue Growth Opportunity by Type of Homes, 2024 – 2032 69
FIG NO. 37. Connected Homes Market Revenue, By Type of Homes, 2018, 2023, 2027 & 2032 70
FIG NO. 38. Global Connected Homes Market for Apartment, Revenue (USD Million) 2018 – 2032 71
FIG NO. 39. Global Connected Homes Market for Villa/Bungalow, Revenue (USD Million) 2018 – 2032 72
FIG NO. 40. Global Connected Homes Market for Other Homes, Revenue (USD Million) 2018 – 2032 73
FIG NO. 41. North America Connected Homes Market Revenue, 2018 – 2032 (USD Million) 78
FIG NO. 42. Europe Connected Homes Market Revenue, 2018 – 2032 (USD Million) 85
FIG NO. 43. Asia Pacific Connected Homes Market Revenue, 2018 – 2032 (USD Million) 92
FIG NO. 44. Latin America Connected Homes Market Revenue, 2018 – 2032 (USD Million) 99
FIG NO. 45. Middle East Connected Homes Market Revenue, 2018 – 2032 (USD Million) 106
FIG NO. 46. Africa Connected Homes Market Revenue, 2018 – 2032 (USD Million) 113
FIG NO. 47. Research Methodology – Detailed View 123
FIG NO. 48. Research Methodology 124

List of Tables
TABLE NO. 1. : Global Connected Homes Market: Snapshot 25
TABLE NO. 2. : Drivers for the Connected Homes Market: Impact Analysis 29
TABLE NO. 3. : Restraints for the Connected Homes Market: Impact Analysis 31
TABLE NO. 4. : Global Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 75
TABLE NO. 5. : Global Connected Homes Market Revenue, By Functionality, 2024 – 2032 (USD Million) 75
TABLE NO. 6. : Global Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 76
TABLE NO. 7. : Global Connected Homes Market Revenue, By Component, 2024 – 2032 (USD Million) 76
TABLE NO. 8. : Global Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 77
TABLE NO. 9. : Global Connected Homes Market Revenue, By Platform, 2024 – 2032 (USD Million) 77
TABLE NO. 10. : Global Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 78
TABLE NO. 11. : Global Connected Homes Market Revenue, By Type of Homes, 2024 – 2032 (USD Million) 78
TABLE NO. 12. : North America Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 80
TABLE NO. 13. : North America Connected Homes Market Revenue, By Country, 2024 – 2032 (USD Million) 80
TABLE NO. 14. : North America Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 81
TABLE NO. 15. : North America Connected Homes Market Revenue, By Functionality, 2024 – 2032 (USD Million) 81
TABLE NO. 16. : North America Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 82
TABLE NO. 17. : North America Connected Homes Market Revenue, By Component, 2024 – 2032 (USD Million) 82
TABLE NO. 18. : North America Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 83
TABLE NO. 19. : North America Connected Homes Market Revenue, By Platform, 2024 – 2032 (USD Million) 83
TABLE NO. 20. : North America Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 84
TABLE NO. 21. : North America Connected Homes Market Revenue, By Type of Homes, 2024 – 2032 (USD Million) 84
TABLE NO. 22. : Europe Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 87
TABLE NO. 23. : Europe Connected Homes Market Revenue, By Country, 2024 – 2032 (USD Million) 87
TABLE NO. 24. : Europe Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 88
TABLE NO. 25. : Europe Connected Homes Market Revenue, By Functionality, 2024 – 2032 (USD Million) 88
TABLE NO. 26. : Europe Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 89
TABLE NO. 27. : Europe Connected Homes Market Revenue, By Component, 2024 – 2032 (USD Million) 89
TABLE NO. 28. : Europe Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 90
TABLE NO. 29. : Europe Connected Homes Market Revenue, By Platform, 2024 – 2032 (USD Million) 90
TABLE NO. 30. : Europe Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 91
TABLE NO. 31. : Europe Connected Homes Market Revenue, By Type of Homes, 2024 – 2032 (USD Million) 91
TABLE NO. 32. : Asia Pacific Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 94
TABLE NO. 33. : Asia Pacific Connected Homes Market Revenue, By Country, 2024 – 2032 (USD Million) 94
TABLE NO. 34. : Asia Pacific Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 95
TABLE NO. 35. : Asia Pacific Connected Homes Market Revenue, By Functionality, 2024 – 2032 (USD Million) 95
TABLE NO. 36. : Asia Pacific Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 96
TABLE NO. 37. : Asia Pacific Connected Homes Market Revenue, By Component, 2024 – 2032 (USD Million) 96
TABLE NO. 38. : Asia Pacific Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 97
TABLE NO. 39. : Asia Pacific Connected Homes Market Revenue, By Platform, 2024 – 2032 (USD Million) 97
TABLE NO. 40. : Asia Pacific Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 98
TABLE NO. 41. : Asia Pacific Connected Homes Market Revenue, By Type of Homes, 2024 – 2032 (USD Million) 98
TABLE NO. 42. : Latin America Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 101
TABLE NO. 43. : Latin America Connected Homes Market Revenue, By Country, 2024 – 2032 (USD Million) 101
TABLE NO. 44. : Latin America Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 102
TABLE NO. 45. : Latin America Connected Homes Market Revenue, By Functionality, 2024 – 2032 (USD Million) 102
TABLE NO. 46. : Latin America Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 103
TABLE NO. 47. : Latin America Connected Homes Market Revenue, By Component, 2024 – 2032 (USD Million) 103
TABLE NO. 48. : Latin America Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 104
TABLE NO. 49. : Latin America Connected Homes Market Revenue, By Platform, 2024 – 2032 (USD Million) 104
TABLE NO. 50. : Latin America Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 105
TABLE NO. 51. : Latin America Connected Homes Market Revenue, By Type of Homes, 2024 – 2032 (USD Million) 105
TABLE NO. 52. : Middle East Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 108
TABLE NO. 53. : Middle East Connected Homes Market Revenue, By Country, 2024 – 2032 (USD Million) 108
TABLE NO. 54. : Middle East Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 109
TABLE NO. 55. : Middle East Connected Homes Market Revenue, By Functionality, 2024 – 2032 (USD Million) 109
TABLE NO. 56. : Middle East Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 110
TABLE NO. 57. : Middle East Connected Homes Market Revenue, By Component, 2024 – 2032 (USD Million) 110
TABLE NO. 58. : Middle East Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 111
TABLE NO. 59. : Middle East Connected Homes Market Revenue, By Platform, 2024 – 2032 (USD Million) 111
TABLE NO. 60. : Middle East Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 112
TABLE NO. 61. : Middle East Connected Homes Market Revenue, By Type of Homes, 2024 – 2032 (USD Million) 112
TABLE NO. 62. : Africa Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 115
TABLE NO. 63. : Africa Connected Homes Market Revenue, By Country, 2024 – 2032 (USD Million) 115
TABLE NO. 64. : Africa Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 116
TABLE NO. 65. : Africa Connected Homes Market Revenue, By Functionality, 2024 – 2032 (USD Million) 116
TABLE NO. 66. : Africa Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 117
TABLE NO. 67. : Africa Connected Homes Market Revenue, By Component, 2024 – 2032 (USD Million) 117
TABLE NO. 68. : Africa Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 118
TABLE NO. 69. : Africa Connected Homes Market Revenue, By Platform, 2024 – 2032 (USD Million) 118
TABLE NO. 70. : Africa Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 119
TABLE NO. 71. : Africa Connected Homes Market Revenue, By Type of Homes, 2024 – 2032 (USD Million) 119

Frequently Asked Questions:

What is the current size of the Global Connected Homes Market?

As of 2023, the Global Connected Homes Market is valued at approximately USD 80,924.71 million.

What factors are driving the growth of the Global Connected Homes Market?

The market is driven by increasing demand for energy efficiency and enhanced home security, advancements in IoT and AI technologies, rising consumer awareness about the benefits of connected home devices, and the expansion of high-speed internet services.

What are the key segments within the Global Connected Homes Market?

Key segments within the market include functionality—Energy and Utilities Management, Smart Entertainment, Wellness and Monitoring, Security and Safety, Smart Appliance—and components like Light Control Solution, Security Solution, Entertainment Solution, Home Healthcare Solution, and Energy Management Solution.

What are some challenges faced by the Global Connected Homes Market?

The market faces challenges including security and privacy concerns, interoperability issues across different brands, high upfront costs, technical complexity of systems, limited consumer awareness, constrained broadband penetration in some regions, and an evolving regulatory landscape.

Who are the major players in the Global Connected Homes Market?

Major players include Google, Amazon, Samsung, Ericsson AB, Schneider Electric Se, Siemens AG, ABB Ltd., Honeywell International, Inc., General Electric Company, and others.

Which segment is leading the market share?

The Energy and Utilities Management segment is leading the market share, primarily due to increasing emphasis on energy efficiency and the integration of smart energy management systems in homes.

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