HomePress-release

Redding, California - January 10, 2025

Europe Smart Home Market to be Worth $67.6 Billion by 2031

Europe Smart Home Market by Product Type (Smart Lighting Systems, Smart Speakers, Smart Security & Monitoring Systems, Smart HVAC Control), Protocol Standard (Wireless Protocols, Wired Protocols, Hybrid Protocols) - Forecast to 2031.

Meticulous Research^®—a leading global market research company, published a research report titled ‘Europe Smart Home Market—Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research^®, the Europe smart home market is expected to reach $67.6 billion by 2031, at a CAGR of 13.9% from 2024 to 2031.

The growth of the Europe smart home market is driven by the rising need for home safety & security, increasing government initiatives promoting the adoption of smart technologies, and the wider proliferation of Internet of Things (IoT) technologies. However, High procurement costs restrain the growth of this market.

Furthermore, consumers’ need for complete flexibility & customization is expected to generate growth opportunities for market stakeholders. However, data privacy & security concerns and smart home solutions’ compatibility with existing infrastructure are major challenges in the Europe smart home market.

The Europe smart home market is segmented by product type and protocol & standard. The report evaluates industry competitors and analyzes the market at the regional and country levels.

Based on product type, the smart security & monitoring systems segment is anticipated to hold the dominant position, with over 29% of the market share in 2024. The segment’s large market share is attributed to the rising need for home safety and security, the rising adoption of AI-enabled surveillance, the growing popularity of connected home ecosystems, advancements in wireless security technologies, and the growing need for real-time monitoring.

Based on protocol & standard, the wireless protocols segment is anticipated to hold the dominant position in 2024. The segment’s large market share is primarily attributed to the rising investments in smart home automation, increasing advancements in wireless communication standards, and the increasing demand for seamless connectivity, interoperability, and energy-efficient communication solutions for smart home applications.

Based on country/region, in 2024, Germany is expected to account for the largest share of the Europe smart home market. The presence of prominent smart home players is expected to contribute to the high revenue share of this country. Germany’s major market share can be attributed to the increasing incorporation of smart technologies and increasing government initiatives to support the adoption of smart gadgets in residential infrastructure.

Key Players

The key players operating in the Europe smart home market are LG Electronics, Inc. (South Korea), ASSA ABLOY AB (Sweden), Amazon Web Services, Inc. (U.S) (a subsidiary of Amazon.com, Inc.), Samsung Electronics Co., Ltd. (South Korea), Schneider Electric SE (France), Siemens AG (Germany), Google LLC (U.S.) (a subsidiary of Alphabet Inc.), Apple, Inc. (U.S.), Legrand SA (France), Johnson Controls International plc (Ireland), Honeywell International Inc. (U.S.), ecobee Technologies ULC (Canada) (a subsidiary of Generac Power Systems, Inc.), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), and Axis Communications AB (Sweden) (a subsidiary of Canon Inc.).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5601

Key Questions Answered in the Report-

What is the value of revenue generated by the sale of Europe smart home?
At what rate is the l demand for Europe smart home projected to grow for the next five to seven years?
What is the historical market size and growth rate for the Europe smart home market?
What are the major factors impacting the growth of this market at regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which product type and protocol and standards segments create major traction in this market?
What are the key regional trends in this market? Which countries are expected to offer significant growth opportunities for the manufacturers operating in the Europe smart home market?
Who are the major players in the Europe smart home market? What are their specific product offerings in this market?
What recent developments have taken place in the Europe smart home market? What impact have these strategic developments created on the market?

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

3D Printing

5G Technology

Advanced Chemical & Materials

Agrochemicals

Algae Products

Alternative Proteins

Animal Health

Artificial Intelligence

Automotive Technologies

Big Data Analytics

Climate Technologies

Edible Insects

Electric Vehicle

Food & Agriculture Technologies

Hydrogen Technologies

Internet Of Things

In Vitro Diagnostics

Laboratory Instrumentation

Language Learning Technologies

Medical Technologies

Next Generation Technologies

Processing & Packaging Technologies

Robotics & Automation

Smart Technologies

Water & Wastewater Technologies

Miscellaneous / Others

Redding, California - January 10, 2025

Europe Smart Home Market to be Worth $67.6 Billion by 2031

Europe Smart Home Market by Product Type (Smart Lighting Systems, Smart Speakers, Smart Security & Monitoring Systems, Smart HVAC Control), Protocol Standard (Wireless Protocols, Wired Protocols, Hybrid Protocols) - Forecast to 2031.

Recommended Readings

Advanced Chemical &
Materials

Food & Agriculture
Technologies

Next Generation
Technologies

Processing & Packaging
Technologies

Water & Wastewater
Technologies