September 25, 2022

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Europe and North America Smart Homes and Home Automation Market Report 2022: How Should the Mobile Industry Address the Vast Business Opportunity in Connected Smart Homes? – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Smart Homes and Home Automation – 9th Edition” report has been added to ResearchAndMarkets.com’s offering.

How should the mobile industry address the vast business opportunity in connected smart homes?

The analyst estimates that revenues from the home automation system shipments and service fees in Europe and North America will grow at a compound annual growth rate of 13.5 percent from US$ 68.8 billion in 2021 to US$ 129.7billion in 2026. Get a 360-degree perspective on the rapid evolution of the home automation market in this comprehensive 300-page strategy report.

The North American smart home market recorded strong growth in 2021.

The installed base of smart home systems increased by 18.0 percent to reach 223.2 million at the yearend. An estimated 30.0 million of these were multifunction or whole-home systems whereas 193.2 million were point solutions designed for one specific function. As some homes have more than one smart system in use, the installed base totaled an estimated 51.3 million smart homes at the end of the year.

This corresponds to 35.8 percent of all households, placing North America in the most advanced smart home market in the world. Between 2021 and 2026, the number of households that adopt smart home systems is forecasted to grow at a compound annual growth rate (CAGR) of 7.8 percent, resulting in 74.6 million smart homes. Market revenues reached US$ 36.7 billion (€_31.0 billion) in 2021, an increase of 16.4 percent year on year.

The market is expected to grow at a CAGR of 11.7 percent between 2021 and 2026, reaching US$ 63.7 billion (€ 53.9 billion) in yearly revenues at the end of the forecast period. The European market for smart home systems is still behind the North American market in terms of market penetration and maturity. However, the market has now grown to become almost as large as the North American market. At the end of 2021, there was a total of 167.7 million smart home systems in use in the EU27+3 countries, up 22.9 percent year on year.

Around 20.0 million of these systems were multifunction or whole-home systems whereas 147.7 million were point solutions. This corresponds to around 53.7 million smart homes when overlaps are taken into account, meaning that 23.0 percent of all households in Europe were smart at the end of the year.

The number of European households to adopt smart home systems is forecasted to grow at a compound annual growth rate (CAGR) of 13.7 percent during the next five years, resulting in 99.7 million smart homes by 2026. Market revenues grew by 30.9 percent to € 29.7 billion (US$ 35.1 billion) in 2021. The market is forecasted to grow at a CAGR of 15.5 percent between 2021 and 2026 to reach € 61.1 billion (US$ 72.2 billion) at the end of the forecast period.

A point solution will in many cases constitute the consumer’s first smart home purchase. The most popular point solutions to date, in terms of sold units, include smart thermostats, smart light bulbs, smart plugs, connected security cameras, and voice-controlled smart speakers. These products are marketed by incumbent OEMs such as Signify, Resideo, Danfoss, Belkin, Chamberlain, Schlage, and Assa Abloy and newer entrants such as Ecobee, Sonos, Arlo, Nuki, Mysa, IKEA, and Wyze Labs.

In the whole-home system market, traditional home automation vendors such as Crestron Electronics, Control4, Savant Systems, eQ-3, and Loxone are facing new competition as companies from adjacent industries have entered the market. Communications and security service providers such as ADT, Vivint, Comcast, and Brinks Home Security (Monitronics) have established themselves among the largest whole-home solution vendors in North America. Major vendors in Europe include Centrica, Somfy, Deutsche Telekom, and Verisure.

There are a number of factors and trends in today’s society that favor the smart home market. The interest in energy efficiency solutions is growing as energy prices surge and sustainable solutions are part of the daily agenda in media and corporate boardrooms. Smart thermostats and HVAC systems, smart lighting, connected home appliances as well as other connected home systems can all help lower the energy consumption in the home and turn reduce the energy bill.

Consumer interest in these types of solutions is now growing rapidly. Berg Insight also anticipates that working from home will remain common post-Covid-19 and that people that spend more time at home are more willing to invest in smart home products and services as they can provide improved safety, wellbeing, and convenience.

Market Trends and Analysis

  • Will Matter Solve Interoperability Problems In The Smart Home Industry?
  • Surging Energy Prices Create Demand For Smart Energy Efficiency Solutions
  • Connectivity – Soon A Standard Feature In The Home Appliances Segment
  • Greater Consumer Awareness Benefits All Players
  • Lower Price Points Opens The Doors To The Mass Market
  • Cloud-Based Systems and The Integrated Hub Opportunity
  • Cellular IoT In The Smart Home and Home Security Markets
  • Open Versus Closed Smart Home Ecosystems
  • Short Product Lifecycles Damage Consumer Trust
  • Smart Insurance For The Connected Home
  • Mergers and Acquisitions In The Smart Home Industry

Highlights from the report

  • Insights from 30 executive interviews with market-leading companies.
  • 360-degree overview of the smart homes & home automation ecosystem.
  • Summary of industry trends in key vertical market segments.
  • Statistical data on the adoption of smart home systems in Europe and North America.
  • New market forecasts lasting until 2026.
  • Detailed reviews of the latest initiatives launched by industry players.
  • Updated profiles of the key vendors in this market.

The report answers the following questions:

  • Which are the main applications within smart homes and home automation?
  • What are the main drivers behind the growth in Europe and North America?
  • What are the business models and channels to market for smart home solutions?
  • Which are the leading whole-home system vendors in Europe and North America?
  • How are product OEMs and whole-home solution vendors positioning themselves?
  • What home connectivity technologies are smart home system vendors betting on?
  • What is the potential market size for cellular IoT in home automation?
  • How will the smart home market evolve in the next five years?

Networks and Communications Technologies

Smart Home Ecosystems and Hubs

  • Amazon Alexa
  • Apple HomeKit and Siri
  • Google Home and Google Assistant
  • Homey
  • IFTTT
  • Mediola
  • Samsung SmartThings
  • Wink
  • Yonomi (Allegion)

Smart Home Platforms

  • AWS (Amazon)
  • Ayla Networks
  • Google Cloud
  • Microsoft
  • ThroughTek
  • Tuya

Technology Providers and OEMs

Security and Access Control System Vendors

  • Ajax Systems
  • Arlo Technologies
  • Assa Abloy
  • Canary
  • Chamberlain Group
  • Ezviz Network (Hikvision)
  • Frontpoint .
  • Kwikset (Assa Abloy)
  • Logitech
  • Minut
  • Nuki Home Solutions
  • Reolink
  • Ring (Amazon)
  • Schlage
  • Simplisafe
  • Wyze Labs
  • YI Technology

Energy Management and Climate Control System Vendors

  • Danfoss
  • Ecobee (Generac)
  • Eneco
  • Eve Systems
  • Geo
  • Google Nest
  • iDevices (Hubbell)
  • Lux Products (Johnson Controls)
  • Mysa
  • Netatmo (Legrand)
  • Tado

Audio-Visual and Entertainment System Vendors

  • Bose
  • Harman (Samsung Electronics)
  • Kaleidescape
  • Naim Audio
  • Sonos
  • Sony
  • Sound United

Lighting And Window Control System Vendors

  • Acuity Brands
  • Belkin
  • IKEA
  • Ledvance (MLS)
  • Leviton
  • LIFX (Buddy Technologies)
  • Lutron Electronics
  • Plejd
  • Signify
  • Velux

Healthcare and Independent Living Solution Vendors

  • Appello
  • Careium
  • Climax Technology
  • Enovation
  • Just Checking
  • Qorvo
  • Sensio
  • Tunstall Healthcare Group

Home Appliances Vendors

  • BSH Hausgerate (Bosch)
  • Electrolux
  • GE Appliances (Haier)
  • Haier
  • LG Electronics
  • Whirlpool

Service Robotics vendors

  • Ambrogio Robot (Zucchetti Centro Sistemi)
  • Dyson
  • Husqvarna
  • iRobot
  • Labrador Systems
  • Neato Robotics
  • Robomow
  • SharkNinja Operating

Service Providers and Whole-Home System Vendors

Whole-Home System OEMS

  • ABB
  • Alarm.com
  • Bosch
  • Control4 (Snap One)
  • Crestron Electronics
  • Delta Dore
  • D-Link
  • eQ-3
  • Ezlo Innovation
  • Essence Group
  • Fibar Group (Nice Group)
  • Gigaset
  • Gira
  • Grenton
  • Legrand
  • Loxone Electronics
  • myGEKKO (Ekon)
  • Nice Group
  • OBLO Living
  • Resideo Technologies
  • Savant Systems
  • Schneider Electric
  • Shelly (Allterco)
  • Somfy
  • Telldus (Proove)
  • TP-Link
  • Universal Electronics
  • Xiaomi

Smart Home Service Providers

  • ADT
  • Altice France
  • Brinks Home Security (Monitronics)
  • Centrica
  • Comcast
  • Cox Communications
  • Deutsche Telekom
  • Telus
  • Verisure
  • Vivint
  • Vodafone

For more information about this report visit https://www.researchandmarkets.com/r/b4irwk