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Europe Smart Home Market
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
Report ID:MRICT - 104918 Pages: 228 Jan-2025 Formats*: PDF Category: Information and Communications Technology Delivery: 2 to 4 HoursThe Europe Smart Home market was valued at $24.1 billion in 2023. This market is expected to reach $67.6 billion by 2031 from an estimated $27.1 billion in 2024, at a CAGR of 13.9% during the forecast period from 2024 to 2031.
Europe Smart Home Market Size & Forecast
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. Furthermore, consumers’ need for complete flexibility & customization is expected to generate growth opportunities for market stakeholders.
Europe Smart Home Market Growth Drivers
Rising Need for Home Safety & Security Driving Market Growth
The rising need for home safety and security is driven by a combination of evolving consumer concerns, technological advancements, and increasing awareness regarding the need for protection in the modern world. With safety becoming a top priority for homeowners, smart home technologies are providing innovative solutions that offer both convenience and enhanced security. Also, with statistics showing a steady rise in break-ins and property crimes, people are turning to smart home technologies as an effective deterrent. Smart security systems, including cameras, motion sensors, doorbell cameras, and smart locks, give homeowners the ability to monitor their properties remotely, significantly enhancing their sense of security.
One of the key factors driving the adoption of smart home security systems is the convenience they provide. Through smartphone apps, homeowners can access real-time video footage, lock & unlock doors, and receive instant alerts about potential security breaches, no matter where they are. This level of control is highly appealing, as it allows individuals to respond to security concerns promptly. Moreover, the integration of voice assistants like Amazon Alexa and Google Assistant further simplifies managing home security systems, allowing for hands-free control. This convenience adds significant appeal for consumers who want to ensure their homes are safe while managing everyday activities.
Europe Smart Home Market Growth Opportunities
Consumers’ Need for Complete Flexibility & Customization Expected to Generate Growth Opportunities for Market Stakeholders
The rising need for complete flexibility and customization in smart home solutions stems from changing consumer expectations and technological advancements. With more people adopting smart home technology, there is an increasing demand for systems that can adapt to individual preferences, lifestyles, and specific needs. Consumers want to have control over every aspect of their home environment, from lighting and temperature to security and entertainment. Smart devices that learn and adjust to users’ habits—such as thermostats that automatically adjust the temperature based on user preference or lighting systems that change color depending on the time of day are becoming essential. This level of customization allows homeowners to create a living space that feels tailored to them, enhancing comfort and convenience.
Additionally, the need for privacy and security has significantly increased as more connected devices enter homes. With the rise of IoT (Internet of Things), there is a growing concern over the security of personal data. Consumers want systems that offer customizable security features, like personalized alerts, remote monitoring, and even advanced facial recognition, which provide peace of mind and greater control over home security. Thus, consumers’ need for complete flexibility and customization in smart home solutions reflects consumers' increasing demand for control, comfort, security, and convenience in their connected homes, which is expected to generate growth opportunities for market stakeholders during the forecast period.
Europe Smart Home Market Analysis: Key Findings
The Smart Security & Monitoring Systems Segment to Dominate the Europe Smart Home Market in 2024
Based on product type, the Europe smart home market is segmented into smart security & monitoring systems, smart speakers, smart lighting systems, smart HVAC control, smart entertainment systems, smart home appliances, smart home healthcare systems, smart kitchen appliances, and smart furniture. In 2024, the smart security & monitoring systems segment is expected to account for the largest share of around 29% of the Europe smart home market. The large market share of this segment is attributed to the rising need for home safety and security. Smart security systems integrate various technologies like video surveillance, access control, and intrusion detection to provide comprehensive security coverage. They help prevent crimes, detect unauthorized access, and respond promptly to security breaches. In Europe, where security and privacy concerns are significant, smart security and monitoring systems can be designed to adhere to strict data protection regulations like the General Data Protection Regulation (GDPR). This ensures that the benefits of these systems are realized without compromising individual rights and privacy.
However, the smart speaker’s segment is expected to register the highest CAGR of 18.7% during the forecast period. This segment's high growth is driven by the increasing penetration of voice-controlled assistants, the rising demand for home automation, the growing integration of multi-functional capabilities into smart speakers, the popularity of music streaming services, and advancements in AI-powered virtual assistants.
The Wireless Protocol Segment to Dominate the Europe Smart Home Market in 2024
Based on protocol & standard, the Europe smart home market is segmented into wireless protocols, wired protocols, and hybrid protocols. In 2024, the wireless protocols segment is expected to account for the largest share of the Europe smart home market. The segment’s large market share is 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. Also, this segment is expected to register the highest CAGR of 14.7% during the forecast period.
Country/Region Analysis
In 2024, Germany to Dominate the Europe Smart Home Market
In 2024, Germany accounted for the largest share of the Europe smart home market. 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. In addition, the presence of prominent players supports the Europe smart home market growth. For instance, in In June 2024, Bosch Smart Home (a subsidiary of Robert Bosch GmbH (Germany) introduced a pioneering update for the Bosch Smart Home Controller II. This update enables Bosch Smart Home devices to be seamlessly integrated into a universal, cross-brand smart home network. The standard developed by the Connectivity Standards Alliance (CSA) offers compatibility with devices from various manufacturers, thus supporting an individually customized smart home setup.
However, the Norway is projected to register the highest CAGR during the forecast period. The growth of this market is attributed to the increasing consumer awareness, rising Norwegian government supporting the development of smart grids, and regulatory support, financial incentives, and strategic investments in digital infrastructure.
Europe Smart Home Market: Key Companies
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of 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.).
Europe Smart Home Industry Overview: Latest Developments from Key Industry Players
- In November 2024, Schneider Electric SE (France) and Smartworld Developers Pvt. Ltd. (India) signed a Memorandum of Understanding (MoU) to implement 360-degree home automation in upcoming projects. The collaboration will focus on creating energyefficient, healthier homes using Schneider Electric's smart products, including Wiser Smart Homes and Modular Switches.
- In October 2024, Johnson Controls launched the PENN® System 550, a modular electronic control solution for HVAC systems, providing temperature, humidity, and pressure control with A2L refrigerant leak detection and mitigation technology.
- In August 2024, LG launched its ThinQ ON smart home hub, featuring an AI voice assistant that controls LG appliances and other smart devices. The hub includes a built-in speaker for voice commands, allowing users to set preferences, such as thermostat temperature or washer cycle.
Europe Smart Home Market Research Summary
|
Particulars |
Details |
|
Number of Pages |
227 |
|
Format |
|
|
Forecast Period |
2024–2031 |
|
Base Year |
2023 |
|
CAGR (Value) |
13.9% |
|
Market Size (Value) |
$67.5 Billion by 2031 |
|
Segments Covered |
By Product Type
By Protocol & Standard
|
|
Key Companies Profiled |
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.). |
Key questions answered in the europe smart home market report:
The Europe Smart Home market study focuses on market assessment and opportunity analysis based on the sales of smart home products across the region and market segments. the study includes a competitive analysis based on an extensive assessment of the leading players’ product portfolios and key growth strategies adopted in the last 3–4 years.
The Europe smart home market is projected to reach $67.5 billion by 2031, at a CAGR of 13.9% during the forecast period 2024–2031.
- Which product type segment is expected to hold the major share of this market in 2024?
In 2024, the smart home security & monitoring segment is expected to account for the largest share of 29.1% of the Europe smart home market. 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.
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. Furthermore, consumers’ need for complete flexibility & customization is expected to generate growth opportunities for market stakeholders.
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.).
1. Introduction
1.1. Market Definition & Scope
1.2. Currency & Limitations
1.2.1. Currency
1.2.2. Limitations
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation Process
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.2. Bottom-Up Approach
2.3.3. Top-Down Approach
2.3.4. Growth Forecast
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Market Analysis, by Product Type
3.3. Market Analysis, by Protocol & Standard
3.4. Market Analysis, by Country/Region
3.5. Competitive Analysis
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Wider Proliferation of Internet of Things (IoT) Technologies
4.2.2. Increasing Government Initiatives Promoting the Adoption of Smart Technologies
4.2.3. Rising Need for Home Safety & Security
4.2.4. High Procurement Costs
4.2.5. Consumers’ Need for Complete Flexibility & Customization
4.2.6. Data Privacy & Security Concerns
4.2.7. Smart Home Solutions’ Compatibility with Existing Infrastructure
4.3. Key Trends
4.3.1. Increasing Adoption of AI-driven IoT Solutions
4.3.2. Growing Demand for Energy-Efficient Solutions
4.4. Case Studies
4.4.1. Case Study A
4.4.2. Case Study B
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of Substitutes
4.5.4. Threat of New Entrants
4.5.5. Degree of Competition
5. Europe Smart Home Market Assessment—by Product Type
5.1. Overview
5.2. Smart Security & Monitoring Systems
5.2.1. Smart Locks & Access Control
5.2.2. Smart Home Interfaces
5.2.3. Smart Security Cameras
5.3. Smart Speakers
5.4. Smart Lighting Systems
5.5. Smart HVAC Control
5.5.1. Smart Thermostats
5.5.2. Smart Air Conditioning
5.5.3. Smart Vents
5.6. Smart Entertainment Systems
5.7. Smart Home Appliances
5.7.1. Smart Washing Machines
5.7.2. Robotic Vacuum Cleaners
5.7.3. Smart Water Heaters
5.8. Smart Kitchen Appliances
5.8.1. Smart Refrigerators
5.8.2. Smart Dishwashers
5.8.3. Smart Coffee Makers
5.8.4. Smart Ovens
5.9. Smart Home Healthcare Systems
5.10. Smart Furniture
5.10.1. Smart Tables & Desks
5.10.2. Smart Sofas & Recliners
6. Europe Smart Home Market Assessment—by Protocol & Standard
6.1. Overview
6.2. Wireless Protocols
6.2.1. Wi-Fi
6.2.2. Bluetooth
6.2.3. ZigBee
6.2.4. Z-Wave
6.2.5. Thread
6.2.6. EnOcean
6.3. Wired Protocols
6.3.1. DALI
6.3.2. Ethernet
6.3.3. Modbus
6.3.4. UPB
6.3.5. X10
6.3.6. LonWorks
6.3.7. KNX
6.3.8. BACnet
6.4. Hybrid Protocols
6.4.1. C-Bus
6.4.2. Insteon
7. Europe Smart Home Market Assessment—by Country/Region
7.1. Overview
7.2. Europe
7.2.1. Germany
7.2.2. U.K.
7.2.3. France
7.2.4. Italy
7.2.5. Spain
7.2.6. Netherlands
7.2.7. Switzerland
7.2.8. Sweden
7.2.9. Denmark
7.2.10. Russia
7.2.11. Norway
7.2.12. Rest of Europe
8. Competition Analysis
8.1. Overview
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.4. Competitive Dashboard
8.4.1. Industry Leaders
8.4.2. Differentiators
8.4.3. Vanguards
8.4.4. Emerging Companies
8.5. Market Share Analysis
9. Company Profiles
9.1. Siemens AG
9.2. Google LLC (A Subsidiary of Alphabet Inc.)
9.3. Amazon Web Services, Inc. (A Subsidiary of Amazon.com, Inc.)
9.4. Samsung Electronics Co., Ltd.
9.5. Apple, Inc.
9.6. Schneider Electric SE
9.7. LG Electronics, Inc.
9.8. Legrand SA
9.9. Johnson Controls International plc
9.10. Honeywell International Inc.
9.11. ecobee Technologies ULC (A Subsidiary of Generac Power Systems, Inc.)
9.12. Robert Bosch GmbH
9.13. ABB Ltd.
9.14. Axis Communications AB (A Subsidiary of Canon Inc.)
9.15. ASSA ABLOY AB
10. Appendix
10.1. Available Customization
10.2. Related Reports
List of Tables
Table 1 Currency conversion rates (2019–2023)
Table 2 Europe Smart home Market, by product Type, 2022–2031 (USD Million)
Table 3 Europe Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 4 Europe Smart Security & Monitoring Systems Market, by Country/Region, 2022–2031 (USD Million)
Table 5 Europe Smart Locks & Access Control Market, by Country/Region, 2022–2031 (USD Million)
Table 6 Europe Smart Home Interfaces Market, by Country/Region, 2022–2031 (USD Million)
Table 7 Europe Smart Security Cameras Market, by Country/Region, 2022–2031 (USD Million)
Table 8 Europe Smart Speakers Market, by Country/Region, 2022–2031 (USD Million)
Table 9 Europe Smart Lighting Systems Market, by Country/Region, 2022–2031 (USD Million)
Table 10 Europe Smart HVAC control Market, by Type, 2022–2031 (USD Million)
Table 11 Europe Smart HVAC Control Market, by Country/Region, 2022–2031 (USD Million)
Table 12 Europe Smart thermostats Market, by Country/Region, 2022–2031 (USD Million)
Table 13 Europe Smart Air Conditioning Market, by Country/Region, 2022–2031 (USD Million)
Table 14 Europe Smart Vents Market, by Country/Region, 2022–2031 (USD Million)
Table 15 Europe Smart Entertainment Systems Market, by Country/Region, 2022–2031 (USD Million)
Table 16 Europe Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 17 Europe Smart Home Appliances Market, by Country/Region, 2022–2031 (USD Million)
Table 18 Europe Smart Washing Machines Market, by Country/Region, 2022–2031 (USD Million)
Table 19 Europe Robotic Vacuum Cleaners Market, by Country/Region, 2022–2031 (USD Million)
Table 20 Europe Smart Water Heaters Market, by Country/Region, 2022–2031 (USD Million)
Table 21 Europe Smart kitchen appliances Market, by Type, 2022–2031 (USD Million)
Table 22 Europe Smart Kitchen Appliances Market, by Country/Region, 2022–2031 (USD Million)
Table 23 Europe Smart Refrigerators Market, by Country/Region, 2022–2031 (USD Million)
Table 24 Europe Smart Dishwashers Market, by Country/Region, 2022–2031 (USD Million)
Table 25 Europe Smart Coffee Makers Market, by Country/Region, 2022–2031 (USD Million)
Table 26 Europe Smart Ovens Market, by Country/Region, 2022–2031 (USD Million)
Table 27 Europe Smart Home Healthcare Systems Market, by Country/Region, 2022–2031 (USD Million)
Table 28 Europe Smart furniture Market, by Type, 2022–2031 (USD Million)
Table 29 Europe Smart Furniture Market, by Country/Region, 2022–2031 (USD Million)
Table 30 Europe Smart Tables & Desks Market, by Country/Region, 2022–2031 (USD Million)
Table 31 Europe Smart Sofas & Recliners Market, by Country/Region, 2022–2031 (USD Million)
Table 32 Europe Smart home Market, by Protocol & Standard, 2022–2031 (USD Million)
Table 33 Europe Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 34 Europe Wireless Protocol-enabled Smart Home MARKET, BY COUNTRY/ REGION, 2022–2031 (USD Million)
Table 35 Europe Wi-Fi-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 36 Europe Bluetooth-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 37 Europe ZigBee-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 38 Europe Z-Wave-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 39 Europe Thread-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 40 Europe EnOcean-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 41 Europe Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 42 Europe Wired Protocol-enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 43 Europe DALI-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 44 Europe ETHERNET-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 45 Europe MODBUS-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 46 Europe UPB-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 47 Europe X10-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 48 Europe LONWORKS-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 49 Europe KNX-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 5 Europe BACNET-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 51 Europe Hybrid Protocol-Enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 52 Europe Hybrid Protocol-Enabled Smart Home Market, by Country/ Region,2022–2031 (USD Million)
Table 53 Europe C-Bus-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 54 Europe Insteon-Enabled Smart Home Market, by Country/Region, 2022–2031 (USD Million)
Table 55 Europe Smart home Market, by country/region, 2022–2031 (USD Million)
Table 56 Europe: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 57 Europe: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 58 Europe: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 59 Europe: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 60 Europe: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 61 Europe: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 62 Europe: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 63 Europe: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 64 Europe: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 65 Europe: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 66 Germany: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 67 Germany: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 68 Germany: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 69 Germany: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 70 Germany: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 71 Germany: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 72 Germany: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 73 Germany: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 74 Germany: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 75 Germany: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 76 U.K.: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 77 U.K.: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 78 U.K.: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 79 U.K.: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 80 U.K.: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 81 U.K.: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 82 U.K.: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 83 U.K.: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 84 U.K.: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 85 U.K.: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 86 France: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 87 France: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 88 France: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 89 France: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 90 France: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 91 France: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 92 France: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 93 France: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 94 France: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 95 France: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 96 Italy: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 97 Italy: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 98 Italy: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 99 Italy: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 100 Italy: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 101 Italy: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 102 Italy: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 103 Italy: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 104 Italy: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 105 Italy: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 106 Spain: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 107 Spain: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 108 Spain: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 109 Spain: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 110 Spain: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 111 Spain: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 112 Spain: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 113 Spain: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 114 Spain: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 115 Spain: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 116 Netherlands: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 117 Netherlands: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 118 Netherlands: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 119 Netherlands: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 120 Netherlands: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 121 Netherlands: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 122 Netherlands: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 123 Netherlands: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 124 Netherlands: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 125 Netherlands: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 126 Switzerland: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 127 Switzerland: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 128 Switzerland: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 129 Switzerland: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 130 Switzerland: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 131 Switzerland: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 132 Switzerland: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 133 Switzerland: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 134 Switzerland: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 135 Switzerland: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 136 Sweden: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 137 Sweden: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 138 Sweden: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 139 Sweden: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 140 Sweden: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 141 Sweden: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 142 Sweden: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 143 Sweden: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 144 Sweden: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 145 Sweden: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 146 Denmark: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 147 Denmark: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 148 Denmark: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 149 Denmark: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 150 Denmark: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 151 Denmark: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 152 Denmark: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 153 Denmark: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 154 Denmark: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 155 Denmark: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 156 Russia: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 157 Russia: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 158 Russia: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 159 Russia: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 160 Russia: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 161 Russia: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 162 Russia: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 163 Russia: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 164 Russia: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 165 Russia: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 166 Norway: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 167 Norway: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 168 Norway: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 169 Norway: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 170 Norway: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 171 Norway: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 172 Norway: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 173 Norway: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 174 Norway: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 175 Norway: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 176 Rest of Europe: Smart Home Market, by Product Type, 2022–2031 (USD Million)
Table 177 Rest of Europe: Smart HVAC Control Market, by Type, 2022–2031 (USD Million)
Table 178 Rest of Europe: Smart Security & Monitoring Systems Market, by Type, 2022–2031 (USD Million)
Table 179 Rest of Europe: Smart Home Appliances Market, by Type, 2022–2031 (USD Million)
Table 180 Rest of Europe: Smart Kitchen Appliances Market, by Type, 2022–2031 (USD Million)
Table 181 Rest of Europe: Smart Furniture Market, by Type, 2022–2031 (USD Million)
Table 182 Rest of Europe: Smart home Market, by Protocols & Standards, 2022–2031 (USD Million)
Table 183 Rest of Europe: Wireless Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 184 Rest of Europe: Wired Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
Table 185 Rest of Europe: Hybrid Protocol-enabled Smart Home Market, by Type, 2022–2031 (USD Million)
List of Figures
Figure 1 Market Ecosystem
Figure 2 Key Stakeholders
Figure 3 Research Process
Figure 4 Key Secondary Sources
Figure 5 Primary Research Techniques
Figure 6 Key Executives Interviewed
Figure 7 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 8 Market Sizing and Growth forecast Approach
Figure 9 Key Insights
Figure 10 The Smart Security & Monitoring Systems Segment to Account for the Largest Market Share In 2024
Figure 11 the Wireless Protocols Segment to Account for the Largest Market Share In 2024
Figure 12 Impact Analysis of Market Dynamics
Figure 13 Porter's Five forces Analysis
Figure 14 Europe Smart Home Market, by Product Type, 2024 Vs. 2031 (USD Million)
Figure 15 Europe Smart Home Market, by Protocol & Standard, 2024 Vs. 2031 (USD Million)
Figure 16 Europe Smart Home Market, by Country/Region, 2024 Vs. 2031 (USD Million)
Figure 17 Growth Strategies Adopted by Leading Market Players (2021–2024)
Figure 18 Competitive Benchmarking Analysis (2021–2024)
Figure 19 Competitive Dashboard: Europe Smart Home Market
Figure 20 Market Share Analysis: Europe Smart Home Market (2023)
Figure 21 Siemens AG: Financial Overview (2023)
Figure 22 Alphabet Inc.: Financial Overview (2023)
Figure 23 Amazon.com, Inc.: Financial Overview (2023)
Figure 24 Samsung Electronics Co., Ltd: Financial Overview (2023)
Figure 25 Apple, Inc: Financial Overview (2023)
Figure 26 Schneider Electric SE: Financial Overview (2023)
Figure 27 LG Electronics, Inc.: Financial Overview (2023)
Figure 28 Legrand SA: Financial Overview (2023)
Figure 29 Johnson Controls International plc: Financial Overview (2023)
Figure 30 Honeywell International Inc.: Financial Overview (2023)
Figure 31 Robert Bosch GmbH: Financial Overview (2023)
Figure 32 ABB Ltd: Financial Overview (2023)
Figure 33 Canon Inc.: Financial Overview (2023)
Figure 34 ASSA ABLOY AB: Financial Overview (2023)
Author Name:
The Europe smart home market is expected to reach USD 67.6 billion by 2031 from an estimated USD 27.1 billion in 2024, at a CAGR of 13.9% during the forecast period (2024–2031). 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.
LG Electronics, Inc.
Founded in 1958 and headquartered in Seoul, South Korea, LG Electronics, Inc. is a global innovator in consumer electronics, home appliances, and cutting-edge technology solutions. The company is renowned for its advanced home entertainment systems, energy-efficient appliances, and pioneering developments in vehicle component solutions and business technologies. LG Electronics operates across diverse business segments, catering to residential, commercial, and industrial sectors, with products designed to enhance quality of life and meet evolving customer needs.
The company’s Home Appliance & Air Solution (H&A) division offers state-of-the-art refrigerators, washing machines, and air conditioners, emphasizing sustainability and energy efficiency. Its Home Entertainment (HE) segment is known for premium TVs, sound systems, and digital signage solutions. Its comprehensive product portfolio and extensive distribution network ensure a robust presence in key regions, including Korea, North America, Asia, and Europe. The company’s focus on integrating sustainability with cutting-edge technology positions it as a trusted partner in shaping the future of smart living.
Google LLC. (A Subsidary of Alphabet, Inc.)
Founded in 1998 and headquartered in California, U.S., Google LLC is a provider of online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, consumer electronics, and Artificial Intelligence (AI). The company offers a wide range of AI solutions such as generative AI, machine learning, speech, text and language API, image and video API, AI assistance and conversational AI, and consulting services.
Google LLC is a leading player in the smart home solutions market, leveraging its vast ecosystem of technology products, artificial intelligence, and data services to create a seamless, user-friendly experience for customers. Google offers a variety of products in the smart home space under the Google Nest brand, including smart thermostats, cameras, doorbells, speakers, and smoke alarms.
Amazon Web Services, Inc. (A Subsidary of Amazon.com, Inc.)
Founded in 2006 and headquartered in Washington, U.S., Amazon Web Services, Inc. offers cloud computing services. Amazon Web Services (AWS) is a cloud platform that offers a suite of powerful tools and services that are integral to the development, deployment, and scaling of smart home solutions. While Amazon’s Alexa ecosystem is widely known for driving smart home solutions, AWS plays a crucial, behind-the-scenes role in powering infrastructure and providing cloud-based services to support smart home applications.
Samsung Electronics Co., Ltd.
Founded in 1969 and headquartered in Suwon-si, South Korea, Samsung Electronics is a global technology company that operates in various areas of the electronics industry, including consumer electronics, information technology, mobile communications, and device solutions. The company is involved in the development, manufacturing, and sale of a wide range of consumer products, such as mobile phones, tablets, smart TVs, home theatre systems, smart digital cameras, and smart home appliances like refrigerators, air conditioners, washing machines, and ovens.
Additionally, the company offers PCs, peripherals, printers, memory and storage products, healthcare and medical equipment, telecommunications infrastructure, and LED lighting solutions. The company is also involved in semiconductor manufacturing, cyber game match hosting, venture capital investments, sponsoring sports teams and games, credit management, and logistics services.
ASSA ABLOY AB
Founded in 1994 and headquartered in Stockholm, Sweden, ASSA ABLOY AB is a global leader in access solutions. The company specializes in providing innovative products and services that ensure security, safety, and convenience across residential, commercial, and institutional markets. ASSA ABLOY offers a wide range of solutions, including mechanical locks, lock systems, and fittings, as well as advanced electromechanical and electronic locks. Its product portfolio extends to security doors, hardware, and entrance automation solutions, catering to the growing demand for smart and connected security systems. The company’s offerings serve diverse industries, including healthcare, education, retail, and transportation.
Operating in over 70 countries, ASSA ABLOY maintains a robust global presence supported by a strong distribution network. With a commitment to sustainability and innovation, the company continuously invests in research and development to deliver cutting-edge technologies that address the evolving security needs of its customers.
Siemens AG
Founded in 1847 and headquartered in Berlin, Germany, Siemens AG offers power and energy services & solutions for applications such as building technology, drive technology, industrial automation, mobility, financing, and consumer products. The company provides a wide range of smart home products, such as smart control systems, home automation with building technologies, smart lighting solutions, advanced heating solutions, and smart security solutions. The company operates through four business segments, namely Siemens Healthineers Digital Industries, Smart Infrastructure, and Mobility.
Siemens is a global technology company that provides a wide range of smart home solutions, focusing on automation, energy management, security, and comfort. The company's smart home offerings make homes more efficient, secure, and convenient through intelligent, connected technologies. Siemens combines its deep expertise in automation, electrification, and digitalization to provide innovative products for residential users.
Apple Inc.
Founded in 1976 and headquartered in California, U.S., Apple designs and manufactures mobile communication and media devices, personal computers, and portable digital music players and sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The company offers products and services, including iPhone, iPad, iPod, Mac, Apple TV, a portfolio of consumer and professional software apps, the iOS and OS X operating systems, iCloud, accessories, service, and support.
In addition, the company provides smart home entertainment devices with a strategic focus on ecosystem integration, premium user experiences, and cutting-edge innovation. By leveraging technologies such as spatial audio, AI-driven recommendations, and enhanced connectivity, Apple is setting new standards for home entertainment.
Schneider Electric SE
Founded in 1871 and headquartered in Rueil-Malmaison, France, Schneider Electric SE is a global leader in digital automation and energy management. The company provides a wide range of products and solutions for various applications, including residential and small businesses, industrial operations, and data centers. Schneider Electric continues to prioritize innovation and technological advancements to maintain its competitive edge. The company caters to diverse end-use industries, such as automotive and eMobility, energy and utilities, and healthcare. In the smart home automation sector, the company offers innovative solutions that enhance energy efficiency, security, and convenience.
Schneider Electric operates through two reportable business segments: Energy Management and Industrial Automation. With its subsidiaries and a robust distribution network, the company maintains a strong geographic presence across North America, Western Europe, Asia-Pacific, and the Rest of the World.
Legrand SA
Founded in 1860 and headquartered in Limoges, France, Legrand SA is a global specialist in electrical and digital building infrastructure. The company provides innovative solutions that improve the efficiency, comfort, and security of residential, commercial, and industrial spaces. Legrand's product portfolio encompasses switches, sockets, home automation systems, energy distribution, and data center infrastructure, offering seamless integration for modern buildings. Legrand’s dedication to providing sustainable and user-centric solutions positions the company as a key player in the global smart building ecosystem.
With a strong commitment to innovation, sustainability, and digital transformation, Legrand continues to lead in the electrical and digital building sectors. The company operates through an extensive distribution network, with a robust geographic presence across Europe, North and Central America, and other regions worldwide.
Johnson Controls International plc
Founded in 1885 and headquartered in Cork, Ireland, Johnson Controls International plc is a global leader in building solutions, energy efficiency, and sustainability. The company specializes in smart buildings, HVAC systems, fire safety, security, and building automation technologies, enabling its clients to optimize energy usage and improve operational efficiency. Johnson Controls also plays a significant role in advancing smart city initiatives and enabling the transition toward net-zero energy buildings.
The company serves diverse industries, including the residential, commercial, healthcare, and industrial sectors. Operating through multiple business segments—Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia-Pacific, and Global Products—the company maintains a strong geographic presence in the United States, Europe, Asia-Pacific, and other regions.
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