The global smart home market size is estimated to reach USD 537.27 billion by 2030, expanding at a CAGR of 27.0% from 2025 to 2030, according to a new report by Grand View Research, Inc.
The smart home, according to the report findings, is driven by computing devices and information technology that link smart home instruments and gadgets to provide convenience, entertainment, and enhanced comfort to residents in a sustainable way. The market growth is attributed to the rising penetration of the Internet of Things (IoT) and Internet connectivity in homes. Moreover, the trend of modern technologies, such as Artificial Intelligence (AI), being integrated with smart homes has enabled more advanced and digitally smart devices for better living.
In addition, the growing penetration of smartphones is driving the market as smart home devices can be controlled through a smartphone, thereby enabling ease of access and usage. Furthermore, the trend of automation in daily mundane tasks is expected to support market growth significantly. The rising need for home security has prompted the use of AI-powered smart home devices. Facial recognition and threat analysis are among the features included in these gadgets that are expected to drive the demand for smart home solutions.
Analysts suggest the Asia Pacific region is experiencing continually improved standards of living and increased consumer disposable income levels making it the fastest growing market for this type of technology. The rapid penetration of the internet, smartphones, and other digitally advanced equipment in the region is also expected to drive market growth.
Furthermore, the increased demand for smart speakers, such as Siri and Alexa, significantly impacts the region’s growth. In addition, the trend of luxurious lifestyles in developing nations in the region, due to increased disposable income and personal choice among consumers for smart devices, is propelling the market growth.
Some of the key statistics
● Security and access control dominates the market with the largest share of over 29% in 2024 according to the research, due to the increased demand for advanced security solutions and the necessity to restrict access to rooms or safes with valuable items and goods.
● The wireless protocols segment is expected to witness the highest CAGR from 2025 to 2030 as wireless technology is continuously undergoing extreme developments in terms of connectivity and latency.
● The new construction segment is expected to witness the highest CAGR from 2025 to 2030 period as product installations are easier in new constructions with prior knowledge of wall placements and wire/power outlets.
● The smart home market in Asia Pacific is expected to grow at the highest CAGR of over 28% from 2025 to 2030 due to the increasing internet and IoT devices penetration.
Some of the key players mentioned in the report include, LG Electronics, Siemens, Amazon, Google Nest, Samsung Electronics, Schneider Electric, Legrand, Robert Bosch, Assa Abloy, Sony, ABB, Philips Lighting, and Honeywell International.
