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North America Smart Home Market
North America Smart Home Market by Product Type (Smart Lightning Systems, Smart Speakers, Smart Security & Monitoring Systems, Smart Home Appliances), Protocols & Standards (Wireless Protocols, Wired Protocols, Hybrid Protocols) - Forecast to 2030
Report ID:MRICT - 104953 Pages: 150 Jul-2024 Formats*: PDF Category: Information and Communications Technology Delivery: 24 to 72 HoursThe North America Smart Home Market is projected to reach $93.1 billion by 2030, at a CAGR of 9.6% from 2024 to 2030.
The growth of the smart home market in North America is driven by the increased emphasis on home safety and security and the need for better energy efficiency. However, consumer reluctance toward technology adoption and the high procurement costs of smart home solutions may restrain the market’s growth.
Moreover, the demand for complete flexibility and customization of home is expected to present significant opportunities for the market’s growth. However, compatibility issues with older infrastructure may hinder the market’s growth.
Demand for Complete Flexibility and Customization of Home to Offer Growth Opportunities for the North America Smart Home Market
Smart home technology encompasses various devices, applications, services, and interfaces, all designed to cater to a diverse consumer base. While certain categories like smart safety and security devices have mass appeal, individual consumers often possess distinct preferences regarding smart home applications and devices. This poses a challenge for smart home device manufacturers who struggle to meet the unique demands of each consumer through pre-packaged solutions from a single brand. To address this challenge, smart home device providers can offer open platforms capable of hosting third-party systems and devices. This approach would allow users to customize their smart home ecosystem according to their requirements, providing a more personalized and tailored experience.
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Many leading smart home device providers have already started collaborating with other companies to provide complete personalization and customization to customers. For instance, devices such as Amazon Echo from Amazon Web Services, Inc. (U.S.) and Google Home from Google LLC (U.S.) work on the platform compatible with several other home automation systems, such as Phillips Hue lightbulbs and Belkin’s WeMo product line.
Furthermore, many smart TV manufacturers are positioning their products as the central control hub for seamlessly managing other smart devices. While achieving complete customization remains challenging, companies are increasingly collaborating to provide consumers with a higher degree of personalization and customization. This cooperative approach is opening up growth opportunities for smart home device providers in North America.
Key Findings in the North America Smart Home Market Study
In 2024, the Smart Security & Monitoring Systems Segment is Expected to Dominate the North America Smart Home Market
Based on product type, in 2024, the smart security & monitoring systems segment is expected to account for the largest share of the North America smart home market. The large market share of this segment is attributed to the rising concerns about home safety and security, continuous advances in smartphones and remote monitoring technologies, and the growing need for IoT security solutions in the residential sector.
Furthermore, new product launches by major market players also contribute to the growth of this segment. For instance, in March 2024, Google LLC (U.S.) and ADT (U.S.) launched smart home security system to offer internet-connected security features with their existing smart home ecosystem for consumers. Additionally, in May 2024, Masimo (U.S.) launched Stork, a home baby monitoring system.
The Hybrid Protocols Segment to Register the Highest CAGR During the Forecast Period
Based on protocol & standard, the hybrid protocols segment is slated to register the highest CAGR during the forecast period. Hybrid protocols leverage both wired and wireless capabilities, combining them for enhanced outcome. This approach involves segmenting the network into zones and utilizing different protocols within these zones. Hybrid protocols offer several advantages compared to traditional wired and wireless protocols and other hybrid alternatives like C-Bus. They do not interfere with existing Wi-Fi networks and can easily integrate with other smart devices. Moreover, they can function via power lines, eliminating the need for routers. This combination of wireless protocol flexibility and wired protocol reliability makes hybrid protocols appealing to consumers.
In 2024, the U.S. is Expected to Dominate the North America Smart Home Market
Based on country, in 2024, the U.S. is expected to account for the largest share of the North America smart home market. The large share of the U.S. market is attributed to the rising adoption of smart home devices and appliances in the country due to higher acceptance among the U.S. population. Furthermore, in recent years, the U.S. market has attracted numerous start-ups, many of which have secured substantial investments for the design and development of smart home devices or components of smart home systems.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by major market players in the last three to four years. The key players profiled in the North America smart home market study are Google LLC (U.S.), Apple, Inc. (U.S.), Amazon.com, Inc. (U.S.), Siemens AG (Germany), United Technologies Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Honeywell International, Inc. (U.S.), Johnson Controls International plc (Ireland), Schneider Electric SE (France), LG Electronics, Inc. (South Korea), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), ASSA ABLOY AB (Sweden), General Electric Company (U.S.), Legrand SA (France), and Sony Corporation (Japan).
Scope of the Report:
North America Smart Home Market Assessment, by Product Type
- Smart Lightning Systems
- Smart Speakers
- Smart HVAC Control
- Smart Thermostats
- Smart Vents
- Smart Air Conditioning
- Smart Security & Monitoring Systems
- Security Cameras
- Interface
- Smart Locks & Access Control
- Smart Entertainment Systems
- Smart Home Appliances
- Smart Washing Machines
- Smart Water Heaters
- Robotic Vacuum Cleaners
- Smart Kitchen Appliances
- Smart Refrigerators
- Smart Coffee Makers
- Smart Dishwashers
- Smart Ovens
- Smart Home Healthcare Systems
- Smart Furniture
- Smart Sofas and Recliners
- Smart Tables & Desks
North America Smart Home Market Assessment, by Protocols & Standards
- Wireless Protocols
- ZigBe
- Wi-Fi
- Bluetooth
- Z-Wave
- Thread
- Enocean
- Wired Protocols
- KNX
- UPB
- X10
- BACNET
- LONWORKS
- DALI
- MODBUS
- ETHERNET
- Hybrid Protocols
- Insteon
- C-Bus
North America Smart Home Market Assessment, by Geography
- U.S.
- Canada
Key questions answered in the report:
The North America smart home market is projected to reach $93.1 billion by 2030, at a CAGR of 9.6% during the forecast period.
The growth of the smart home market in North America is driven by the increased emphasis on home safety and security, the proliferation of the Internet of Things (IoT), and the need for better energy efficiency.
Moreover, the demand for complete flexibility and customization of homes is expected to present significant opportunities for the market’s growth.
The key players operating in the North America smart home market are Google LLC (U.S.), Apple, Inc. (U.S.), Amazon.com, Inc. (U.S.), Siemens AG (Germany), United Technologies Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Honeywell International, Inc. (U.S.), Johnson Controls International plc (Ireland), Schneider Electric SE (France), LG Electronics, Inc. (South Korea), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), ASSA ABLOY AB (Sweden), General Electric Company (U.S.), Legrand SA (France), and Sony Corporation (Japan).
Currently, the U.S. dominates the North America smart home market. However, the market in Canada is projected to register the highest CAGR during the forecast period.
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 Approach
2.2. Process of Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Rising Concerns about Home Safety and Security
4.2.1.2. Proliferation of the Internet of Things (IoT)
4.2.1.3. Need for Better Energy Efficiency Across Home
4.2.2. Restraints
4.2.2.1. Consumer Reluctance Towards Technology Adoption
4.2.2.2. High Procurement Costs of Smart Home Solutions
4.2.3. Opportunities
4.2.3.1. Need for Complete Flexibility & Customization of Home
4.2.4. Challenges
4.2.4.1. Data Privacy and Security Concerns
4.2.4.2. Compatibility Concerns with Old Infrastructure
4.3. Market Trends
4.4. Case Studies
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Buyers
4.5.2. Bargaining Power of Suppliers
4.5.3. Threat of Substitutes
4.5.4. Threat of New Entrants
4.5.5. Degree of Competition
5. North America Smart Home Market Assessment, by Product Type
5.1. Overview
5.2. Smart Lightning Systems
5.3. Smart Speakers
5.4. Smart HVAC Control
5.4.1. Smart Thermostats
5.4.2. Smart Vents
5.4.3. Smart Air Conditioning
5.5. Smart Security & Monitoring Systems
5.5.1. Security Cameras
5.5.2. Interface
5.5.3. Smart Locks & Access Control
5.6. Smart Entertainment Systems
5.7. Smart Home Appliances
5.7.1. Smart Washing Machines
5.7.2. Smart Water Heaters
5.7.3. Robotic Vacuum Cleaners
5.8. Smart Kitchen Appliances
5.8.1. Smart Refrigerators
5.8.2. Smart Coffee Makers
5.8.3. Smart Dishwashers
5.8.4. Smart Ovens
5.9. Smart Home Healthcare Systems
5.10. Smart Furniture
5.10.1. Smart Sofas and Recliners
5.10.2. Smart Tables & Desks
6. North America Smart Home Market Assessment, by Protocols & Standards
6.1. Overview
6.2. Wireless Protocols
6.2.1. ZigBee
6.2.2. Wi-Fi
6.2.3. Bluetooth
6.2.4. Z-Wave
6.2.5. Thread
6.2.6. Enocean
6.3. Wired Protocols
6.3.1. KNX
6.3.2. UPB
6.3.3. X10
6.3.4. BACNET
6.3.5. LONWORKS
6.3.6. DALI
6.3.7. MODBUS
6.3.8. ETHERNET
6.4. Hybrid Protocols
6.4.1. Insteon
6.4.2. C-Bus
7. North America Smart Home Market Assessment, by Geography
7.1. Overview
7.2. North America
7.2.1. U.S.
7.2.2. Canada
8. Competition Analysis
8.1. Overview
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.3.1. Industry Leaders
8.3.2. Market Differentiators
8.3.3. Vanguards
8.3.4. Emerging Companies
8.4. Vendor Dashboard
8.5. Market Share Analysis
9. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
9.1. Google LLC
9.2. Apple, Inc.
9.3. Amazon.com, Inc.
9.4. Siemens AG
9.5. Samsung Electronics Co., Ltd.
9.6. Honeywell International, Inc.
9.7. Johnson Controls International plc
9.8. Schneider Electric SE
9.9. LG Electronics, Inc.
9.10. Robert Bosch GmbH
9.11. ABB Ltd.
9.12. ASSA ABLOY AB
9.13. General Electric Company
9.14. Legrand SA
9.15. United Technologies Corporation
9.16. Sony Corporation
(Note: SWOT Analysis of Top 5 Companies Will Be Provided.)
10. Appendix
10.1. Available Customization
10.2. Related Reports
List of Tables
Table 1 Currency Conversion Rate (2018–2022)
Table 2 North America Smart Home Market, by Product Type, 2021–2030 (USD Million)
Table 3 North America Smart Lighting Systems Market, by Country, 2021–2030 (USD Million)
Table 4 North America Smart Speakers Market, by Country, 2021–2030 (USD Million)
Table 5 North America Smart HVAC Control Market, by Type, 2021–2030 (USD Million)
Table 6 North America Smart HVAC Control Market, by Country, 2021–2030 (USD Million)
Table 7 North America Smart Thermostats Market, by Country, 2021–2030 (USD Million)
Table 8 North America Smart Vents Market, by Country, 2021–2030 (USD Million)
Table 9 North America Smart Air Conditioning Market, by Country, 2021–2030 (USD Million)
Table 10 North America Smart Security & Monitoring Systems Market, by Type, 2021–2030 (USD Million)
Table 11 North America Smart Security & Monitoring Systems Market, by Country, 2021–2030 (USD Million)
Table 12 North America Security Cameras Market, by Country, 2021–2030 (USD Million)
Table 13 North America Interface Market, by Country, 2021–2030 (USD Million)
Table 14 North America Smart Locks & Access Control Market, by Country, 2021–2030 (USD Million)
Table 15 North America Smart Entertainment Systems Market, by Country, 2021–2030 (USD Million)
Table 16 North America Smart Home Appliances Market, by Type, 2021–2030 (USD Million)
Table 17 North America Smart Home Appliances Market, by Country, 2021–2030 (USD Million)
Table 18 North America Smart Washing Machines Market, by Country, 2021–2030 (USD Million)
Table 19 North America Smart Water Heaters Market, by Country, 2021–2030 (USD Million)
Table 20 North America Robotic Vacuum Cleaners Market, by Country, 2021–2030 (USD Million)
Table 21 North America Smart Kitchen Appliances Market, by Type, 2021–2030 (USD Million)
Table 22 North America Smart Kitchen Appliances Market, by Country, 2021–2030 (USD Million)
Table 23 North America Smart Refrigerators Market, by Country, 2021–2030 (USD Million)
Table 24 North America Smart Coffee Makers Market, by Country, 2021–2030 (USD Million)
Table 25 North America Smart Dishwashers Market, by Country, 2021–2030 (USD Million)
Table 26 North America Smart Ovens Market, by Country, 2021–2030 (USD Million)
Table 27 North America Smart Home Healthcare Systems Market, by Country, 2021–2030 (USD Million)
Table 28 North America Smart Furniture Market, by Type, 2021–2030 (USD Million)
Table 29 North America Smart Furniture Market, by Country, 2021–2030 (USD Million)
Table 30 North America Smart Sofas and Recliners Market, by Country, 2021–2030 (USD Million)
Table 31 North America Smart Tables & Desks Market, by Country, 2021–2030 (USD Million)
Table 32 North America Smart Home Market, by Protocol & Standard, 2021–2030 (USD Million)
Table 33 North America Wireless Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 34 North America Wireless Protocol-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 35 North America ZigBee Enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 36 North America Wi-Fi Enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 37 North America Bluetooth Enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 38 North America Z-wave Enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 39 North America Thread Enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 40 North America Enocean-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 41 North America Wired Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 42 North America Wired Protocol-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 43 North America KNX-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 44 North America UPB-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 45 North America X10-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 46 North America BACNET-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 47 North America LONWORKS-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 48 North America DALI-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 49 North America MODBUS-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 50 North America ETHERNET-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 51 North America Hybrid Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 52 North America Hybrid Protocol-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 53 North America Insteon-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 54 North America C-BUS-enabled Smart Home Market, by Country, 2021–2030 (USD Million)
Table 55 North America: Smart Home Market, by Country, 2021–2030 (USD Million)
Table 56 North America: Smart Home Market, by Product Type, 2021–2030 (USD Million)
Table 57 North America: Smart HVAC Control Market, by Type, 2021–2030 (USD Million)
Table 58 North America: Smart Security & Monitoring Systems Market, by Type, 2021–2030 (USD Million)
Table 59 North America: Smart Home Appliances Market, by Type, 2021–2030 (USD Million)
Table 60 North America: Smart Kitchen Appliances Market, by Type, 2021–2030 (USD Million)
Table 61 North America: Smart Furniture Market, by Type, 2021–2030 (USD Million)
Table 62 North America: Smart Home Market, by Protocol & Standard, 2021–2030 (USD Million)
Table 63 North America: Wireless Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 64 North America: Wired Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 65 North America: Hybrid Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 66 U.S.: Smart Home Market, by Product Type, 2021–2030 (USD Million)
Table 67 U.S.: Smart HVAC Control Market, by Type, 2021–2030 (USD Million)
Table 68 U.S.: Smart Security & Monitoring Systems Market, by Type, 2021–2030 (USD Million)
Table 69 U.S.: Smart Home Appliances Market, by Type, 2021–2030 (USD Million)
Table 70 U.S.: Smart Kitchen Appliances Market, by Type, 2021–2030 (USD Million)
Table 71 U.S.: Smart Furniture Market, by Type, 2021–2030 (USD Million)
Table 72 U.S.: Smart Home Market, by Protocol & Standard, 2021–2030 (USD Million)
Table 73 U.S.: Wireless Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 74 U.S.: Wired Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 75 U.S.: Hybrid Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 76 Canada: Smart Home Market, by Product Type, 2021–2030 (USD Million)
Table 77 Canada: Smart HVAC Control Market, by Type, 2021–2030 (USD Million)
Table 78 Canada: Smart Security & Monitoring Systems Market, by Type, 2021–2030 (USD Million)
Table 79 Canada: Smart Home Appliances Market, by Type, 2021–2030 (USD Million)
Table 80 Canada: Smart Kitchen Appliances Market, by Type, 2021–2030 (USD Million)
Table 81 Canada: Smart Furniture Market, by Type, 2021–2030 (USD Million)
Table 82 Canada: Smart Home Market, by Protocol & Standard, 2021–2030 (USD Million)
Table 83 Canada: Wireless Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 84 Canada: Wired Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 85 Canada: Hybrid Protocol-enabled Smart Home Market, by Type, 2021–2030 (USD Million)
Table 86 Recent Developments, by Company, 2020–2024
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 North America Smart Home Market, by Product Type, 2021–2030 (USD Million)
Figure 11 North America Smart Home Market, by Protocol & Standard, 2021–2030 (USD Million)
Figure 12 North America Smart Home Market, by Country, 2024 Vs. 2030 (USD Million)
Figure 13 Impact Analysis: North America Smart Home Market
Figure 14 North America Smart Home Market, by Product Type, 2024 Vs. 2030 (USD Million)
Figure 15 North America Smart Home Market, by Protocol & Standard, 2024 Vs. 2030 (USD Million)
Figure 16 North America Smart Home Market, by Country, 2021–2030 (USD Million)
Figure 17 Growth Strategies Adopted by Leading Market Players (2020–2024)
Figure 18 Vendor Market Positioning Analysis (2021–2024)
Figure 19 Competitive Dashboard: North America Smart Home Market
Figure 20 Google LLC: Financial Overview (2022)
Figure 21 Apple, Inc.: Financial Overview (2022)
Figure 22 Amazon.com, Inc.: Financial Overview (2022)
Figure 23 Siemens AG: Financial Overview (2022)
Figure 24 Samsung Electronics Co., Ltd.: Financial Overview (2022)
Figure 25 Honeywell International, Inc.: Financial Overview (2022)
Figure 26 Johnson Controls International plc: Financial Overview (2022)
Figure 27 Schneider Electric SE: Financial Overview (2022)
Figure 28 LG Electronics, Inc.: Financial Overview (2022)
Figure 29 Robert Bosch GmbH: Financial Overview (2022)
Figure 30 ABB Ltd.: Financial Overview (2022)
Figure 31 ASSA ABLOY AB: Financial Overview (2022)
Figure 32 General Electric Company: Financial Overview (2022)
Figure 33 Legrand SA: Financial Overview (2022)
Figure 34 United Technologies Corporation: Financial Overview (2022)
Figure 35 Sony Corporation: Financial Overview (2022)
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