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Smart Home Market Size, Share & Industry Analysis, By Device Type (Safety & Security Access Control, Home Appliances, HVAC, Lighting Control, Smart Entertainment Devices, Smart Kitchen Appliances, and Others), By Application (Retrofit and New Construction), By Protocol (Wired and Wireless), and Regional Forecast, 2024-2032
Report Format: PDF | Latest Update: Oct, 2024 | Published Date: Jun, 2024 | Report ID: FBI101900. | Status : PublishedFrequently Asked Questions
How much is the global smart home market expected to be worth by 2032?
According to Fortune Business Insights, the global market is projected to reach USD 633.20 billion by 2032.
What was the value of the global smart home market in 2023?
In 2023, the market value stood at USD 101.07 billion.
At what CAGR is the market projected to grow during the forecast period of 2024 – 2032?
The market is projected to grow at a CAGR of 22.9% during the forecast period of 2024 – 2032.
Which is the leading device type segment in the market?
By device type, the smart entertainment devices segment held the largest market share in 2023.
What is the critical factor driving the market growth?
The increased adoption of Internet of Things (IoT) solutions is poised to boost market expansion.
Who are the top players in the market?
Some of the top players in the market are Amazon Inc., Johnson Controls, Apple Inc., and Honeywell International Inc.
Which region is expected to hold the largest market share during the forecast period?
North America is poised to capture the largest share in the market due to higher IoT implementation, thereby fueling the adoption of smart home appliances.
Which device type segment is expected to record the highest CAGR during the forecast period?
By device type, the safety & security access control segment is expected to display the highest CAGR during the forecast period.
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