The European smart home market was valued at USD 22.11 billion in 2024 and is projected to reach USD 29.24 billion by 2029; it is expected to register a CAGR of 5.7% during the forecast period. Concerns about safety, security, and convenience among general population is driving the growth of the European smart home market. Whereas the switching cost of the present smart home devices is restraining the growth of the European smart home market.
Smart home lighting controls can allow a lighting system to perform checks on occupancy as well as natural lighting in an area. It can detect these factors and, therefore, it can regulate its illumination with regard to the amount of natural light, or switch off if the room is empty. Lighting control is a foundation of lighting for energy conservation.
The lighting control segment is expected to grow at the second highest CAGR during the forecast period.
The lighting control segment is projected to grow at the second highest CAGR during the forecast. A smart lighting control system is an automated device that allows the control of lighting in a residential building through acquiring information from the input devices and transmitting it through one or more central computation devices which transform the received information into signals to the output devices.Smart home lighting controls can allow a lighting system to perform checks on occupancy as well as natural lighting in an area. It can detect these factors and, therefore, it can regulate its illumination with regard to the amount of natural light, or switch off if the room is empty. Lighting control is a foundation of lighting for energy conservation.
The behavioral system type is likely to grow at the second higher CAGR during the forecast period
The behavioral system type is expected to grow at second higher CAGR during the forecast period. The behavioral system type applies Al and machine learning algorithms to study from the behaviors of persons in a smart house. It activates and controls routines and preferences of the home and implements them using data acquired from the sensors, cameras and other smart devices. The behavioral system type aims to offer consumers a tailored and comfort approach where various processes are conducted based on the occupant response.Germany is likely to grow at the second highest CAGR during the forecast period.
The market in Germany is expected to witness the second highest CAGR during the forecast period. The growth in the country is attributed to the initiatives undertaken by the government to adopt smart solutions thereby enhancing building sustainability. For instance, in Germany, the smart home is promoted through Next Generation Media Programme supported by the Federal Ministry for Economic Affairs and Climate Action (BMWK). Smart home technologies are considered as one of the pathways to enhance the quality of life and energy efficiency thus contributing to general objectives of the Digital Agenda for Germany. Implementing smart home projects with the assistance of Next Generation Media Programme, there is quite integrated approach to foster digital communications networks and services across many industries.Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type - Tier 1 - 35%, Tier 2 - 45%, Tier 3 - 20%
- By Designation - C-level Executives - 40%, Directors - 30%, Others - 30%
Research Coverage:
The report segments the European smart home market and forecasts its size by product, system type, sales channel, protocol, residence type, installation type, country. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across a main region - Europe. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the smart home ecosystem.Key Benefits to Buy the Report:
- Analysis of key drivers (Rising need for energy saving and low carbon emission-oriented solutions, Ongoing proliferation of smartphones and smart gadgets are driving need for them). Restraint (High switching cost for existing smart device consumers, More convenience driven market than being necessity driven market, High up front cost, Complexity and glitches in setting up of smart homes), Opportunity (Favorable government regulations, Expected incorporation of lighting controllers with inbuild data connectivity technology, Use of Smart Home product for geriatric applications), Challenges (Linking disparate systems, limited functionalities, and lack of open standards, Cybersecurity concerns of smart homes, Retrofitting existing homes, Compatibility Issues of smart home products)
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the European smart home market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the European smart home market across varied countries.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the European smart home market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and system types of leading players like Johnson Controls Inc. (Ireland), Honeywell International Inc. (US), Schneider Electric (France), Siemens (Germany), ASSA ABLOY (Sweden), Amazon.com, Inc. (US), Apple Inc. (US), Resideo Technologies Inc. (US), Robert Bosch (Germany), ABB (Switzerland) among others in the European smart home market.
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 European Smart Home Market, by Protocol
7 European Smart Home Market, by Sales Channel
8 European Smart Home Market, by Product
9 European Smart Home Market, by System Type
10 European Smart Home Market, by Installation Type
11 European Smart Home Market, by Residence Type
12 European Smart Home Market, by Country
13 Competitive Landscape
14 Company Profiles
15 Appendix
List of Tables
List of Figures
Companies Mentioned
- Johnson Controls
- Schneider Electric
- Honeywell International Inc.
- Assa Abloy
- Siemens
- Amazon.com, Inc.
- Apple Inc.
- Resideo Technologies Inc.
- Robert Bosch GmbH
- ABB
- Samsung
- Sony Corporation
- Trane Technologies PLC
- Gira
- Airthings
- Loxone Electronics GmbH
- Delta Intelligent Building Technologies (Canada) Inc.
- Snap One, LLC.
- Axis Communications Ab
- Comcast
- Alarm.com
- Vivint, Inc.
- Simplisafe, Inc.
- General Electric Company
- Nuki Home Solutions
- Lg Electronics
- Lutron Electronics Co. Inc
- Legrand
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 303 |
Published | October 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 22.11 Billion |
Forecasted Market Value ( USD | $ 29.24 Billion |
Compound Annual Growth Rate | 5.7% |
Regions Covered | Europe, Global |
No. of Companies Mentioned | 28 |