Global smart home market size
The market size and growth rate of global smart home hardware and service market
- Smart home refers to a humanized living space that provides services through integrated sensors, information appliances, and home networks, and interacts with users through multiple interfaces.
- With the global technology giants entering the smart home market, in addition to home appliance manufacturers’ announcing various types of smart terminals, the service providers have also launched service platforms and smart home control centers to drive the growth of smart home business opportunities.
- According to the estimates of Strategy Analytics, the global market for smart home hardware and services will reach $130 billion in 2020, and the compound annual growth rate (CAGR) will be 16% from 2015 to 2020. In which, the North American market still is the major market, whereas Asia and Central and South America markets are the fastest growing markets of smart homes.
Source：Strategy Analytics, ITRI-IEK, organized by SIPO (July 2018)