United States Smart Homes Market Set to Reach $69.97 Billion by 2030, Driven by Growing Adoption of Smart Domestic Devices

Dublin, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The "United States Smart Home Market, Size, Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

The United States Smart Homes market is poised for significant growth, with an expected worth of US$ 69.97 Billion by 2030, according to this report.

Smart homes and home automation encompass a broad range of monitoring methods, from complex systems to motorized garage doors. These connected homes facilitate remote control of various operations, including heating and lighting, through web portals or mobile apps, ensuring security, comfort, and energy efficiency.

Growing Adoption of Smart Domestic Devices

The adoption of smart domestic devices in the United States has been steadily rising, driven by consumers' increasing utilization of these devices. The convenience and cost-saving opportunities offered by products like smart speakers make them relevant to today's e-commerce businesses. While smart homes have historically been associated with luxury projects, the trend is shifting towards making these technologies accessible to all types of housing. As the population increasingly moves to urban areas in search of employment, many urban dwellers aspire to own homes that are in line with current technological trends, leading to significant expansion in the sector.

Key Drivers of Smart Homes Market

Voice assistants such as Google Assistant and Amazon Alexa are democratizing smart home technology, making it more accessible to a wider audience. The convenience of task automation, including weather-based temperature adjustments and keyless entry through smart locks, has contributed to the popularity of smart homes. Consumers are becoming increasingly aware of the benefits of smart homes, including comfort, security, and energy efficiency. The growing Internet of Things (IoT) ecosystem is making smart home products easier to use and more accessible by enabling remote control. Advancements in AI and machine learning, such as AI-powered thermostats, are also contributing to the development of smarter devices.

Smart Appliances Leading the Way

Smart appliances represent the largest segment in the United States smart home market. Changes in lifestyle have transformed the kitchen into a multifunctional space connected to entertainment, socializing, dining, and work. Technology has adapted to these changes, offering solutions such as geofencing technology that can prevent accidents, such as house fires caused by leaving the oven on unintentionally. Unattended cooking is a common cause of house fires, accounting for approximately 33% of incidents, often due to food or grease left in the oven or the proximity of flammable items.

Rapid Expansion of Monitoring Cameras

Monitoring cameras are experiencing robust adoption in the United States smart home market. These cameras provide real-time surveillance, enhancing property and family security. Their easy installation and integration into existing smart home systems have made them accessible to a wide range of consumers. The ability to remotely monitor homes via smartphones or computers is a compelling feature, particularly for those seeking continuous property surveillance. Competitive pricing, customizable capabilities, coverage advantages, and increasing awareness of the benefits of smart home technology are contributing to the popularity of monitoring cameras.

Regional Expansion in North Carolina

North Carolina stands out as a region where the smart home market has witnessed considerable growth. Its tech-savvy population, strong research institutions, business-friendly environment, growing real estate market, and the rise of remote work trends have fueled the demand for smart homes in the state.

Key Players in the Market

Prominent companies operating in the United States smart home market include Apple Inc, Schneider Electric, Panasonic, Sony, Honeywell International Inc, and Amazon.Com Inc. In June 2022, Siemens AG announced Siemens Xcelerator, an open digital enterprise platform aimed at facilitating digital transformation and value creation across various sectors, including homes. Siemens acquired Brightly Software, an American provider of asset and maintenance management software, to strengthen its digital and software expertise in the home sector, laying the foundation for the SiemensXcelerator for Buildings portfolio.

Market Segmentation

Application - United States Smart Home Market has been covered from six viewpoints.

1. Comfort & Lighting
2. Control & Connectivity
3. Energy Management
4. Home Entertainment
5. Security
6. Smart Appliances

Product - United States Smart Home Market has been covered from nineteen viewpoints.

1. Smart Speaker
2. Interactive Security System
3. Smart Thermostat
4. Monitoring Camera
5. Video Doorbell
6. Smart Light Bulb
7. Motion Sensor
8. Smart Light Switch
9. Door/Video Sensor
10. Smart Door Lock
11. Smart Plug
12. Smart Smoke Detector
13. Garage Door Opener
14. Smart Electrical Socket
15. Smart Oven
16. Smart Window Shade/Blind
17. Leak/Moisture Detector
18. Irrigation Control System
19. Water Shutoff System

States - United States Smart Home Market has been covered from eleven viewpoints.

1. Florida
2. Texas
3. South Carolina
4. North Carolina
5. California
6. Iowa
7. New York
8. Illinois
9. Arizona
10. Wisconsin
11. Others

Key Attributes:

Report AttributeDetails
No. of Pages200
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$28.56 Billion
Forecasted Market Value (USD) by 2030$69.97 Billion
Compound Annual Growth Rate11.8%
Regions CoveredUnited States

For more information about this report visit https://www.researchandmarkets.com/r/tk4ilr

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U.S. Smart Home Market

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