Single-Family Smart Homes Market Report 2025

The single-family smart homes market size has grown rapidly in recent years. It will grow from $116.9 billion in 2024 to $137.99 billion in 2025 at a compound annual growth rate (CAGR) of 18%. The growth in the historic period can be attributed to strong economic growth in emerging markets, low interest rate environment, and increase in internet penetration.

The single-family smart homes market size is expected to see rapid growth in the next few years. It will grow to $270.19 billion in 2029 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to urbanization, increasing IoT, and rising geriatric population. Major trends in the forecast period include adopting green construction and energy efficient techniques, investing in integration with voice assistants, investing in security solutions, adopting artificial intelligence and robotics, utilizing predictive analytics techniques, and investing in smart switches and displays.

The rise in connected homes and the growing adoption of smart home appliances - such as speakers, home healthcare products, lighting systems, smart kitchens, smart furniture, and HVAC control solutions - are expected to drive higher demand in the single-family smart homes market. For instance, in September 2023, Eurostat, a Luxembourg-based government administration, reported that 72% of internet users in Europe utilized internet-connected devices or systems, including smart home appliances, security systems, and personal health monitoring devices in 2022. Additionally, 64% of internet users engaged with smart home entertainment solutions, including internet-connected TVs, game consoles, home audio systems, and smart speakers in 2022. Therefore, the increasing adoption of smart home appliances, coupled with a growing number of connected homes worldwide, is projected to significantly boost demand for the single-family smart home market in the coming years.

The increasing embrace of the Internet of Things (IoT) is anticipated to drive the expansion of the single-family smart home market in the forthcoming years. IoT-enabled smart homes, also referred to as connected homes, leverage internet-connected devices for remote monitoring and management of various appliances and systems. IoT is a pivotal element in smart homes as it facilitates the connection, interaction, and data exchange among objects and systems. Homeowners derive numerous benefits from this communication and data-sharing paradigm, enhancing the comfort, efficiency, and security of their daily activities. For instance, in May 2023, as reported by IoT Analytics GmbH, a Germany-based information analysis platform, the global count of connected IoT devices is expected to surge by 16% to reach 16.7 billion in 2023. Hence, the increasing adoption of IoT is propelling the growth of the single-family smart home market.

Major companies in the single-family smart homes market are focusing on innovative products, such as suites of connected home products, to better meet the needs of their existing consumers. A suite of connected household products includes a range of smart appliances and gadgets designed to work together to create a cohesive smart home environment. These devices are typically internet-connected and can be operated remotely via a smartphone or other devices. For example, in April 2023, Resideo Technologies, a U.S.-based manufacturer and distributor of technology-driven products for homes and buildings, launched the Honeywell Home T10+ Smart Thermostat Kits. These advanced home climate control systems are designed to improve indoor air quality (IAQ) and overall comfort, enhancing the features of the previous model. The new thermostat utilizes Resideo's proprietary RedLINK 3 technology, enabling simultaneous control of humidification, dehumidification, and ventilation systems.

Technological advancements in the Internet of Things (IoT) and smart home devices are major trends shaping the industry. According to Forbes, the number of cellular IoT connections is projected to reach 3.5 billion in 2023. IoT Analytics predicts that the global number of connected IoT devices will rise to 27 billion by 2025. Newly launched smart speakers by Google Assistant and Amazon Alexa are driving the growth of smart devices. For example, in January 2023, Schlage, a U.S.-based company specializing in security products for homes and commercial buildings, introduced the Schlage Encode Smart WiFi Lever. This smart lever is designed to provide secure and convenient access to various doors in a home, including garage, side, and interior doors. Thus, advancements in IoT and smart home devices are expected to continue being a key trend, boosting revenue in the single-family smart home market.

Major companies operating in the single-family smart homes market include Lennar Corporation, PulteGroup, Inc., Meritage Homes Corporation, KB Smart Home, TRI Pointe Group Inc., Shea Homes, Metricon, McGuyer Homebuilders, Inc., Porter Davis, Henley and home automation, Carlisle and home automation, Plantation homes, Tianjin Quick Smart House Co.Ltd, Larsen & Toubro, Gera Developments Company, Panchshil developers, Daiwa House Industry Co, Ltd, Kier Group plc, ELAN home, Loxone, Belmar Builders, D.R. Horton, Toll Brothers, Taylor Morrison, Ryan Homes, Ashton Woods, Habitat for Humanity, International Cooperative Alliance, Smart home building contracting LLC, Simpletech, Qi Systems.

Asia-Pacific was the largest region in the single-family smart homes market in 2024. Eastern Europe is expected to be the fastest-growing region in the global single-family smart homes market during the forecast period. The regions covered in the single-family smart homes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the single-family smart homes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The single-family smart homes market consists of sales of smart appliances such as smart lighting, entertainment, smart appliances, and others and their related services used in single-family homes. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Single-family smart homes represent futuristic residential buildings equipped with advanced electronics and wireless devices. Utilizing a web portal or smartphone application as a user interface, the smart home system enables interaction with the automated features.

The primary product categories within single-family smart homes encompass smart lighting, entertainment systems, smart appliances, and other related devices. Smart lighting is specifically designed to optimize energy efficiency while enhancing security and convenience. This involves the integration of energy-saving fixtures and automated controls that adapt based on factors such as occupancy or daylight availability. Various technologies, including Wi-Fi, Bluetooth, GSM/GPRS, RFID, among others, are employed, and the software and services utilized encompass both proactive and behavioral aspects. These services are offered by a range of providers, including both large and small contractors.

The single-family smart homes market research report is one of a series of new reports that provides single-family smart homes market statistics, including single-family smart homes industry global market size, regional shares, competitors with a single-family smart homes market share, detailed single-family smart homes market segments, market trends and opportunities, and any further data you may need to thrive in the single-family smart homes industry. This single-family smart homes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.