United States Smart Home Market to Reach $78.7 Billion by 2027 at a CAGR of 15.8% - ResearchAndMarkets.com

By AP News - Dec 06, 2022, 07:23 AM ET

Last Updated - Jun 23, 2023, 07:58 AM EDT

United States Smart Home Market to Reach $78.7 Billion by 2027 at a CAGR of 15.8% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Dec 6, 2022--

The "United States Smart Home Market, Size, Forecast 2022-2027, Industry Trends, Growth, Share, Impact of COVID-19, Company Analysis" report has been added to ResearchAndMarkets.com's offering.

United States Smart Home Market is expected to grow to US$ 78.7 Billion by 2027. In the United States, smart homes are the domestic face of the Internet of Things (IoT). Home automation is increasingly becoming the go-to method to connect everyday devices in homes to the internet and make living more comfortable, entertaining, and safe. It is an advanced technology that helps make several home appliances' operations more convenient and energy-saving. This technology involves controlling all the electronic devices at home using wireless technology. It offers comfort, energy efficiency, security, and convenience to the end-users by enabling them to handle electronic devices through a smart home app on their mobile phones or other networked appliances. This trend is certainly set to continue into the next decade.

Notwithstanding, as the technology underpinning the smart home revolution continues to get faster and more potent in the United States, expect home automation to offer domestic help in new and innovative ways. Many devices like Smart Light Switch, Smart Light Bulb, Door/Window Sensor, Smart Door Lock, Smart Health and Fitness Devices, Smart TV, and Smart Speakers are also connected to the voice assistant that can control them through voice commands.

United States Smart Homes Industry is expected to expand at a double-digit CAGR of 15.8% from 2021-2027.

Based on Applications, the United States smart home market includes Energy Management, Comfort and Lighting, Home Entertainment, Control and Connectivity, Security, Smart Appliances. The smart home penetration rate in the United States is expected to increase further across all segments in the following years, with home entertainment technologies as the leading segment.

The most commonly owned smart home devices among U.S. Americans were home entertainment like smart TVs, smart speakers, and Games Console and wireless speakers without Voice Assistants. Smart TVs and wireless speakers without voice assistants play a significant role in smart homes due to their features and usability. The smart speaker uses voice commands to control intelligent devices.

United States Smart Home Market Size was US$ 32.7 Billion in 2021

On the basis of Categories Products, control and connectivity has emerged as a high-end novelty across a wide range of home devices in the United States, including Door/Window Sensor, Motion Sensor, Smart Smoke Detector, Water Shutoff System, Home Networking, and Others. Americans demand a massive demand for Door/window detectors to make their residence and family safer when they are gone for a long trip or not around. Furthermore, among other connected devices, Americans are inclined towards Interactive Security System like Smart Door Lock, Video Doorbell, Monitoring Camera, Interactive Security System, Smart Outdoor Gadgets and Other.

Application - Break up into 6 Segments, and each of these segments is further divided into 3 sub-segments

1. Energy Management

A. Energy Management Market

B. Number of Active Households