The North America Smart Home Automation Market would witness market growth of 14.6% CAGR during the forecast period (2022-2028).
Flexibility for novel appliances and technologies. When it comes to accommodating new appliances, gadgets, and other forms of technology, smart home systems typically have a remarkable degree of flexibility. No matter how cutting-edge connected appliances appear to be right now, newer and more complex versions would be created over time. In addition, when an outdated appliance or technology is replaced or a user learns about new technologies to complement their indoor and outdoor environments, they would probably add to the collection of gadgets.
Integrating these new devices can make it significantly simpler to use complex technologies. A smart home uses an internet-connected device to provide remote monitoring and administration of systems and appliances, such as lighting and heating. Through the use of a smart home application on a smartphone or other device on the network, smart home technology, also known as smart home automation, offers homeowners protection, comfort, convenience, and energy efficiency.
Leveraging sensor data on consumer activities in the home to predict consumer requirements and balance them with energy consumption can aid users in majorly reducing energy consumption. Additionally, there are a lot of possibilities for family safety and security with home automation.
The disposable income of the regional population is rapidly increasing. Despite income rising by just 1.1%, personal disposable income increased by 5.6%, according to the Bureau of Energy Analysis, mostly because of an increase in transfer payments. The government stimulus money amid the pandemic increased transfer payments by 32.7% and by an extra 5.4% in 2021. Personal income has increased by $113.4 billion, or 0.5%, on a monthly basis in 2021, while consumer spending increased by $32.7 billion, or 0.2%.
The US market dominated the North America Smart Home Automation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $46,878 million by 2028.The Canada market is poised to grow at a CAGR of 17.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 16.2% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Application, the market is segmented into Entertainment, Lighting, Security, HVAC & Energy Management, and Smart Kitchen. Based on Technology, the market is segmented into Wireless, Cellular and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Smart Home Automation Market is Estimated to reach $187.8 Billion by 2028, at a CAGR of 15.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Schneider Electric SE, Johnson Controls International PLC, Honeywell International, Inc., Leviton Manufacturing Co., Inc., Legrand S.A., Crestron Electronics, Inc., Ingersoll Rand, Inc., and Lutron Electronics Co., Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Hardware
- Software
- Services
By Application
- Entertainment
- Lighting
- Security
- HVAC & Energy Management
- Smart Kitchen
By Technology
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- Siemens AG
- Schneider Electric SE
- Johnson Controls International PLC
- Honeywell International, Inc.
- Leviton Manufacturing Co., Inc.
- Legrand S.A.
- Crestron Electronics, Inc.
- Ingersoll Rand, Inc.
- Lutron Electronics Co., Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Smart Home Automation Market, by Component
1.4.2 North America Smart Home Automation Market, by Application
1.4.3 North America Smart Home Automation Market, by Technology
1.4.4 North America Smart Home Automation Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Acquisition and Mergers: 2018, Apr – 2022, Jul) Leading Players
Chapter 4. North America Smart Home Automation Market by Component
4.1 North America Hardware Market by Country
4.2 North America Software Market by Country
4.3 North America Services Market by Country
Chapter 5. North America Smart Home Automation Market by Application
5.1 North America Entertainment Market by Country
5.2 North America Lighting Market by Country
5.3 North America Security Market by Country
5.4 North America HVAC & Energy Management Market by Country
5.5 North America Smart Kitchen Market by Country
Chapter 6. North America Smart Home Automation Market by Technology
6.1 North America Wireless Market by Country
6.2 North America Cellular Market by Country
6.3 North America Others Market by Country
Chapter 7. North America Smart Home Automation Market by Country
7.1 US Smart Home Automation Market
7.1.1 US Smart Home Automation Market by Component
7.1.2 US Smart Home Automation Market by Application
7.1.3 US Smart Home Automation Market by Technology
7.2 Canada Smart Home Automation Market
7.2.1 Canada Smart Home Automation Market by Component
7.2.2 Canada Smart Home Automation Market by Application
7.2.3 Canada Smart Home Automation Market by Technology
7.3 Mexico Smart Home Automation Market
7.3.1 Mexico Smart Home Automation Market by Component
7.3.2 Mexico Smart Home Automation Market by Application
7.3.3 Mexico Smart Home Automation Market by Technology
7.4 Rest of North America Smart Home Automation Market
7.4.1 Rest of North America Smart Home Automation Market by Component
7.4.2 Rest of North America Smart Home Automation Market by Application
7.4.3 Rest of North America Smart Home Automation Market by Technology
Chapter 8. Company Profiles
8.1 ABB Group
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.1.5.3 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Siemens AG
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Product Launches and Product Expansions:
8.2.6 SWOT Analysis
8.3 Schneider Electric SE
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.6 SWOT Analysis
8.4 Johnson Controls International PLC
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental & Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Acquisition and Mergers:
8.5 Honeywell International, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Product Launches and Product Expansions:
8.5.5.2 Acquisition and Mergers:
8.5.6 SWOT Analysis
8.6 Leviton Manufacturing Co., Inc.
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Product Launches and Product Expansions:
8.6.2.2 Acquisition and Mergers:
8.7 Legrand S.A.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional Analysis
8.7.4 Research & Development Expense
8.7.5 Recent strategies and developments:
8.7.5.1 Acquisition and Mergers:
8.8 Crestron Electronics, Inc.
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Partnerships, Collaborations, and Agreements:
8.8.2.2 Product Launches and Product Expansions:
8.9 Ingersoll Rand, Inc.
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expenses
8.10. Lutron Electronics Co., Inc.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Acquisition and Mergers:
TABLE 1 North America Smart Home Automation Market, 2018 - 2021, USD Million
TABLE 2 North America Smart Home Automation Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Smart Home Automation Market
TABLE 4 Product Launches And Product Expansions– Smart Home Automation Market
TABLE 5 Acquisition and Mergers– Smart Home Automation Market
TABLE 6 North America Smart Home Automation Market by Component, 2018 - 2021, USD Million
TABLE 7 North America Smart Home Automation Market by Component, 2022 - 2028, USD Million
TABLE 8 North America Hardware Market by Country, 2018 - 2021, USD Million
TABLE 9 North America Hardware Market by Country, 2022 - 2028, USD Million
TABLE 10 North America Software Market by Country, 2018 - 2021, USD Million
TABLE 11 North America Software Market by Country, 2022 - 2028, USD Million
TABLE 12 North America Services Market by Country, 2018 - 2021, USD Million
TABLE 13 North America Services Market by Country, 2022 - 2028, USD Million
TABLE 14 North America Smart Home Automation Market by Application, 2018 - 2021, USD Million
TABLE 15 North America Smart Home Automation Market by Application, 2022 - 2028, USD Million
TABLE 16 North America Entertainment Market by Country, 2018 - 2021, USD Million
TABLE 17 North America Entertainment Market by Country, 2022 - 2028, USD Million
TABLE 18 North America Lighting Market by Country, 2018 - 2021, USD Million
TABLE 19 North America Lighting Market by Country, 2022 - 2028, USD Million
TABLE 20 North America Security Market by Country, 2018 - 2021, USD Million
TABLE 21 North America Security Market by Country, 2022 - 2028, USD Million
TABLE 22 North America HVAC & Energy Management Market by Country, 2018 - 2021, USD Million
TABLE 23 North America HVAC & Energy Management Market by Country, 2022 - 2028, USD Million
TABLE 24 North America Smart Kitchen Market by Country, 2018 - 2021, USD Million
TABLE 25 North America Smart Kitchen Market by Country, 2022 - 2028, USD Million
TABLE 26 North America Smart Home Automation Market by Technology, 2018 - 2021, USD Million
TABLE 27 North America Smart Home Automation Market by Technology, 2022 - 2028, USD Million
TABLE 28 North America Wireless Market by Country, 2018 - 2021, USD Million
TABLE 29 North America Wireless Market by Country, 2022 - 2028, USD Million
TABLE 30 North America Cellular Market by Country, 2018 - 2021, USD Million
TABLE 31 North America Cellular Market by Country, 2022 - 2028, USD Million
TABLE 32 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 33 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 34 North America Smart Home Automation Market by Country, 2018 - 2021, USD Million
TABLE 35 North America Smart Home Automation Market by Country, 2022 - 2028, USD Million
TABLE 36 US Smart Home Automation Market, 2018 - 2021, USD Million
TABLE 37 US Smart Home Automation Market, 2022 - 2028, USD Million
TABLE 38 US Smart Home Automation Market by Component, 2018 - 2021, USD Million
TABLE 39 US Smart Home Automation Market by Component, 2022 - 2028, USD Million
TABLE 40 US Smart Home Automation Market by Application, 2018 - 2021, USD Million
TABLE 41 US Smart Home Automation Market by Application, 2022 - 2028, USD Million
TABLE 42 US Smart Home Automation Market by Technology, 2018 - 2021, USD Million
TABLE 43 US Smart Home Automation Market by Technology, 2022 - 2028, USD Million
TABLE 44 Canada Smart Home Automation Market, 2018 - 2021, USD Million
TABLE 45 Canada Smart Home Automation Market, 2022 - 2028, USD Million
TABLE 46 Canada Smart Home Automation Market by Component, 2018 - 2021, USD Million
TABLE 47 Canada Smart Home Automation Market by Component, 2022 - 2028, USD Million
TABLE 48 Canada Smart Home Automation Market by Application, 2018 - 2021, USD Million
TABLE 49 Canada Smart Home Automation Market by Application, 2022 - 2028, USD Million
TABLE 50 Canada Smart Home Automation Market by Technology, 2018 - 2021, USD Million
TABLE 51 Canada Smart Home Automation Market by Technology, 2022 - 2028, USD Million
TABLE 52 Mexico Smart Home Automation Market, 2018 - 2021, USD Million
TABLE 53 Mexico Smart Home Automation Market, 2022 - 2028, USD Million
TABLE 54 Mexico Smart Home Automation Market by Component, 2018 - 2021, USD Million
TABLE 55 Mexico Smart Home Automation Market by Component, 2022 - 2028, USD Million
TABLE 56 Mexico Smart Home Automation Market by Application, 2018 - 2021, USD Million
TABLE 57 Mexico Smart Home Automation Market by Application, 2022 - 2028, USD Million
TABLE 58 Mexico Smart Home Automation Market by Technology, 2018 - 2021, USD Million
TABLE 59 Mexico Smart Home Automation Market by Technology, 2022 - 2028, USD Million
TABLE 60 Rest of North America Smart Home Automation Market, 2018 - 2021, USD Million
TABLE 61 Rest of North America Smart Home Automation Market, 2022 - 2028, USD Million
TABLE 62 Rest of North America Smart Home Automation Market by Component, 2018 - 2021, USD Million
TABLE 63 Rest of North America Smart Home Automation Market by Component, 2022 - 2028, USD Million
TABLE 64 Rest of North America Smart Home Automation Market by Application, 2018 - 2021, USD Million
TABLE 65 Rest of North America Smart Home Automation Market by Application, 2022 - 2028, USD Million
TABLE 66 Rest of North America Smart Home Automation Market by Technology, 2018 - 2021, USD Million
TABLE 67 Rest of North America Smart Home Automation Market by Technology, 2022 - 2028, USD Million
TABLE 68 Key Information – ABB Group
TABLE 69 Key Information – Siemens AG
TABLE 70 Key information – Schneider Electric SE
TABLE 71 Key Information – Johnson Controls International PLC
TABLE 72 Key Information – Honeywell International, Inc.
TABLE 73 Key Information – Leviton Manufacturing Co., Inc.
TABLE 74 key Information – Legrand S.A.
TABLE 75 KEY INFORMATION – Crestron Electronics, Inc.
TABLE 76 Key Information – Ingersoll Rand, Inc.
TABLE 77 Key information- Lutron Electronics Co., Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Market Share Analysis, 2021
FIG 4 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 5 Key Strategic Move: (Acquisition and Mergers: 2018, Apr – 2022, Jul) Leading Players
FIG 6 Recent strategies and developments: ABB Group
FIG 7 SWOT Analysis: ABB Group
FIG 8 Swot analysis: Siemens AG
FIG 9 Swot analysis: Schneider Electric SE
FIG 10 Recent strategies and developments: Johnson Controls International PLC
FIG 11 Swot analysis: Honeywell international, inc.
FIG 12 Recent strategies and developments: Leviton Manufacturing Co., Inc.