Smart Home Market 2030 Revenue, Top Key Drivers by Manufacturers and Outlook

Thu, 05 Dec 2024 09:28:55 +0000

The global smart home market size was valued at USD 79.16 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 27.07% from 2023 to 2030. Smart home products are available in the form of cameras, smart lights, streaming devices, dishwashers, and more. Growing trend of integrating Artificial Intelligence (AI) in smart home products for smart features is expected to increase product demand. Moreover, high penetration rate of smartphones and the internet globally is driving the demand for connected smart home products. Digital assistance integrated with AI is offering users a hands-free and more user-friendly deployment of smart devices, significantly impacting the buyers’ preferences.