Connected Home Devices Market Size, Share, Trends & Forecast

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Connected Home Devices Market Outlook

According to the report by Expert Market Research (EMR), the global connected home devices market size is expected to grow at a robust CAGR of 10.7% between 2025 and 2034.

Connected home devices, commonly referred to as smart home devices, encompass a wide range of internet-enabled products that allow homeowners to remotely monitor, control, and automate various systems in their homes. These devices include smart thermostats, security cameras, smart lighting, voice assistants, home automation hubs, and other IoT (Internet of Things) powered products. The integration of these devices into daily life offers improved convenience, cost savings, energy efficiency, and enhanced security, making them increasingly popular among consumers worldwide.

The Connected Home Devices Market is being driven by several key factors, including the rapid digital transformation of the consumer electronics industry, increased internet penetration, and growing consumer awareness about the benefits of smart homes. Furthermore, the rising demand for energy-efficient solutions and the growing trend of home automation are propelling the market forward.

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Key Drivers of Market Growth

Increasing Consumer Demand for Convenience and Automation: One of the primary drivers of the connected home devices market is the increasing consumer demand for convenience and automation in everyday life. Smart home technologies allow users to automate and control various systems within their homes, such as lighting, heating, cooling, and security, all through a centralized mobile app or voice assistant. This ability to control home functions remotely, through a smartphone or voice-enabled device like Amazon Alexa or Google Assistant, provides homeowners with greater comfort, convenience, and ease of use.

Automation offers a level of convenience that traditional home appliances cannot match. For instance, smart thermostats can adjust the temperature based on user preferences or schedules, ensuring a comfortable environment while optimizing energy usage. Similarly, smart lighting systems allow users to control the lighting in their home remotely, set timers, or adjust brightness levels according to their needs. These features contribute to a more streamlined, user-friendly living experience, which continues to drive the demand for connected home devices.

Rising Focus on Energy Efficiency and Sustainability: Growing awareness of environmental sustainability and the need for energy efficiency is another significant factor driving the global connected home devices market. As energy costs rise, consumers are increasingly looking for ways to reduce their energy consumption, and connected home devices offer a convenient solution. Devices like smart thermostats, lighting systems, and energy meters can be programmed to minimize energy use, turning off devices when they are not needed or adjusting settings to optimize energy efficiency.

Additionally, the integration of Connected Home Devices Market with renewable energy sources such as solar panels is becoming more common, further boosting market growth. Smart home systems that monitor energy usage, optimize consumption, and integrate with green energy solutions provide consumers with the ability to reduce their carbon footprint while saving on utility bills. As governments and organizations around the world continue to push for more sustainable practices, the demand for energy-efficient Connected Home Devices Market is expected to rise significantly.

Advancements in IoT Technology and Connectivity: The continuous advancement of the Internet of Things (IoT) and connectivity infrastructure is helping propel the Connected Home Devices Market. IoT technology enables various devices to communicate with one another, facilitating the creation of smart home ecosystems where different devices work seamlessly together. This connectivity allows homeowners to control and monitor multiple devices from a single interface, enhancing user experience and promoting further adoption.

Additionally, the rise of 5G technology, with its improved speeds, low latency, and reliable connectivity, is expected to further support the growth of the Connected Home Devices Market. With faster and more reliable internet connections, consumers will be able to control and monitor their devices more efficiently, even from remote locations. The continued evolution of IoT technology ensures that smart home devices will become even more sophisticated, feature-rich, and integral to daily life, fueling continued market expansion.

Growing Security Concerns and Enhanced Safety Features: The increasing concern over home security is another critical factor driving the adoption of Connected Home Devices Market. Consumers are becoming more aware of the potential risks associated with traditional home security systems, and as a result, they are turning to smart security solutions that offer better monitoring and control. Connected security cameras, doorbell cameras, motion sensors, and smart locks provide homeowners with real-time video feeds, alerts, and remote access to their home security systems.

These devices enhance the safety of homes by providing continuous monitoring and the ability to respond to security threats instantly. Additionally, many smart security systems feature advanced capabilities such as facial recognition, geofencing, and automated emergency responses. These advanced features offer a higher level of security than traditional systems, contributing to the growing demand for Connected Home Devices Market, particularly in regions where safety concerns are a top priority.

Integration with Virtual Assistants and Voice Control: Virtual assistants, such as Amazon Alexa, Google Assistant, and Apple Siri, have become integral to the connected home ecosystem. These voice-activated assistants enable users to control various smart devices within their home using simple voice commands. The convenience of voice control has made smart home devices more accessible and user-friendly, further driving market growth.

The growing popularity of voice-controlled virtual assistants, combined with their integration into smart home devices, has helped boost the adoption of Connected Home Devices Market. For instance, users can use voice commands to adjust the thermostat, turn on lights, lock doors, or play music without the need for physical interaction with the devices. This seamless integration of voice control with smart home systems has made connected devices more desirable for tech-savvy consumers, leading to increased demand in the market.

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Connected Home Devices Market Segmentation

The Connected Home Devices Market can be divided based on product, technology, and region.

Breakup by Product

Lighting
Fixtures
Entertainment
Speakers
Television
Security System

Breakup by Technology

Device-based
Mobile
Hybrid
Technology Comparison Matrix

Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

Some of the major players explored in the report by Expert Market Research are as follows:

Analog Devices, Inc.
• Honeywell International Inc.
• Panasonic Corporation
• SAMSUNG ELECTRONICS Co., Ltd.
• Siemens AG
• Sony Group Corporation
• GE Lighting (Savant Technologies LLC)
• Johnson Controls International plc
• LG Electronics
• Schneider Electric SE
• Others

Challenges in the Global Connected Home Devices Market

Privacy and Security Concerns: Despite the numerous benefits of Connected Home Devices Market, privacy and security remain significant challenges. As these devices collect and transmit vast amounts of personal data, there is a risk of unauthorized access or cyberattacks. Smart home devices that collect sensitive data, such as security cameras, microphones, and voice assistants, can potentially be vulnerable to hacking, putting consumers’ privacy at risk.

To address these concerns, manufacturers must prioritize data encryption, user authentication, and robust cybersecurity measures to ensure the safety of personal information. Governments and regulatory bodies may also introduce stricter regulations around the data protection of connected devices, encouraging industry players to adopt more secure practices.

High Initial Costs and Complex Installation: The initial cost of purchasing and installing smart home devices can be a barrier for some consumers. While prices for Connected Home Devices Market have been decreasing over the years, the overall cost of building a comprehensive smart home system can still be prohibitive for some individuals. In addition, the installation of certain devices may require professional assistance, further adding to the upfront cost.

However, as the technology matures and becomes more affordable, it is expected that the cost of smart home devices will continue to decrease, making them more accessible to a broader range of consumers.