The North America Smart Home Hardware Market would witness market growth of 11.8% CAGR during the forecast period (2022-2028).
Smart houses and home automation are two misleading words that refer to a variety of monitoring, automating, and controlling tasks in a home. Smart home systems, with exception of simple home automation solutions, which could include everything from motorized garage doors to automated security systems, need a smartphone application or web portal to communicate with an automated system. The growing relevance of addressing security issues is expected to fuel significance of smart and connected homes comprehensively. Moreover, the market expansion is likely to be aided by breakthrough wireless technologies such as security and access regulators, HVAC controllers, and entertainment controls.
New product ideas are always being invested in by the companies. Google's Nest smart-home division, for instance, just released a new smart thermostat. The new Nest Thermostat is a less complicated version of the Nest Learning Thermostat or Nest Thermostat E, and it costs USD 129.99, which is USD 40 less than The Nest E costs USD 120 much less than top-of-the-line Nest Learning Thermostat of the third generation. It was instantly available for pre-order. T-Mobile has stated that a 5G-based home network will be available by 2024. The goal is to bring coverage to previously unserved rural areas across the country. T-Mobile is now testing a version of the service on its 4G LTE network with a small number of subscribers.
Smart house popularity figures suggest that Americans prefer home automation gadgets more than other countries, with a substantial penetration rate of and an anticipated total of multiple million smart homes. As people gain a better understanding of technologies and smart home hardware, the regional market would flourish in the coming years. In few years, the comprehensive number of AI-centric homes is predicted to surpass a new record figure. The expanding emphasis on security, along with wireless innovation and improvement in the internet of things (IoT), is benefiting the region.
Naturally, millennial, which grew up with technology, are the most excited about smart home technologies. The majority of people are willing to pay extra for a home with smart devices. Smart home adoption is expected to accelerate when Gen Z reach adulthood and begin purchasing homes. In addition, smart home technology is not just for kids anymore. From smart pillboxes to voice-activated and fall detector appliances, numerous products and services cater to the requirements of the elderly. As home automation systems make healthcare more accessible to elders, it is observed that a substantial share of old age population are eager to spend extra money on smart gadgets for the house and garden. Thus, due to increasing preference of smart home gadgets, the regional smart home hardware market is likely to propel in the forecast period.
The US market dominated the North America Smart Home Hardware Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $9,941.5 Million by 2028. The Canada market is estimated to grow at a CAGR of 14.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 13.3% during (2022 - 2028).
Based on Product, the market is segmented into IoT Hardware for Control & Connectivity Devices, IoT Hardware for Security & Surveillance Equipment, and IoT Hardware for Smart Appliances. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Smart Home Hardware Market is Estimated to reach $48 Billion by 2028, at a CAGR of 12.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, Amazon.com, Inc., Schneider Electric SE, Honeywell International, Inc., ABB (ASEA Brown Boveri) Group, Johnson Controls International PLC, Panasonic Corporation, Legrand S.A., Samsung Electronics Co. Ltd., and General Electric (GE) Co.
Scope of the Study
Market Segments Covered in the Report:
By Product
- IoT Hardware for Control & Connectivity Devices
- IoT Hardware for Security & Surveillance Equipment
- IoT Hardware for Smart Appliances
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Google LLC
- Amazon.com, Inc.
- Schneider Electric SE
- Honeywell International, Inc.
- ABB (ASEA Brown Boveri) Group
- Johnson Controls International PLC
- Panasonic Corporation
- Legrand S.A.
- Samsung Electronics Co. Ltd.
- General Electric (GE) Co.
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 Hardware Market, by Product
1.4.2 North America Smart Home Hardware 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 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2019, Dec – 2022, Apr) Leading Players
Chapter 4. North America Smart Home Hardware Market by Product
4.1 North America IoT Hardware for Control & Connectivity Devices Market by Country
4.2 North America IoT Hardware for Security & Surveillance Equipment Market by Country
4.3 North America IoT Hardware for Smart Appliances Market by Country
Chapter 5. North America Smart Home Hardware Market by Country
5.1 US Smart Home Hardware Market
5.1.1 US Smart Home Hardware Market by Product
5.2 Canada Smart Home Hardware Market
5.2.1 Canada Smart Home Hardware Market by Product
5.3 Mexico Smart Home Hardware Market
5.3.1 Mexico Smart Home Hardware Market by Product
5.4 Rest of North America Smart Home Hardware Market
5.4.1 Rest of North America Smart Home Hardware Market by Product
Chapter 6. Company Profiles
6.1 Google LLC
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Segmental and Regional Analysis
6.1.4 Research & Development Expense
6.1.5 Recent strategies and developments:
6.1.5.1 Partnerships, Collaborations, and Agreements:
6.1.6 SWOT Analysis
6.2 Amazon.com, Inc.
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental Analysis
6.2.4 Recent strategies and developments:
6.2.4.1 Product Launches and Product Expansions:
6.2.4.2 Acquisition and Mergers:
6.2.5 SWOT Analysis
6.3 Schneider Electric SE
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Segmental and Regional Analysis
6.3.4 Research & Development Expenses
6.3.5 Recent strategies and developments:
6.3.5.1 Partnerships, Collaborations, and Agreements:
6.3.5.2 Product Launches and Product Expansions:
6.3.6 SWOT Analysis
6.4 Honeywell International, Inc.
6.4.1 Company Overview
6.4.2 Financial Analysis
6.4.3 Segmental and Regional Analysis
6.4.4 Research & Development Expenses
6.4.5 SWOT Analysis
6.5 ABB Group
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Segmental and Regional Analysis
6.5.4 Research & Development Expenses
6.5.5 Recent strategies and developments:
6.5.5.1 Partnerships, Collaborations, and Agreements:
6.5.5.2 Product Launches and Product Expansions:
6.5.6 SWOT Analysis
6.6 Johnson Controls International PLC
6.6.1 Company Overview
6.6.2 Financial Analysis
6.6.3 Regional Analysis
6.6.4 Research & Development Expenses
6.6.5 Recent strategies and developments:
6.6.5.1 Partnerships, Collaborations, and Agreements:
6.6.5.2 Acquisition and Mergers:
6.7 Panasonic Corporation
6.7.1 Company Overview
6.7.2 Financial Analysis
6.7.3 Segmental and Regional Analysis
6.7.4 Research & Development Expense
6.7.5 Recent Strategies and Development
6.7.5.1 Product Launches and Product Expansions:
6.7.6 SWOT Analysis
6.8 Legrand S.A.
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Regional Analysis
6.8.4 Research & Development Expense
6.8.5 Recent Strategies and Developments
6.8.5.1 Product Launches and Product Expansions:
6.8.5.2 Acquisitions and Mergers:
6.9 Samsung Electronics Co. Ltd.
6.9.1 Company Overview
6.9.2 Financial Analysis
6.9.3 Segmental and Regional Analysis
6.9.4 Research & Development Expenses
6.9.5 Recent strategies and developments:
6.9.5.1 Partnerships, Collaborations, and Agreements:
6.9.6 SWOT Analysis
6.10. General Electric (GE) Co.
6.10.1 Company Overview
6.10.2 Financial Analysis
6.10.3 Segmental and Regional Analysis
6.10.4 Research & Development Expense
6.10.5 Recent Strategies and Developments
6.10.5.1 Partnerships, Collaborations and Agreements:
6.10.6 SWOT Analysis
TABLE 1 North America Smart Home Hardware Market, 2018 - 2021, USD Million
TABLE 2 North America Smart Home Hardware Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Smart Home Hardware Market
TABLE 4 Product Launches And Product Expansions– Smart Home Hardware Market
TABLE 5 Acquisition and Mergers– Smart Home Hardware Market
TABLE 6 North America Smart Home Hardware Market by Product, 2018 - 2021, USD Million
TABLE 7 North America Smart Home Hardware Market by Product, 2022 - 2028, USD Million
TABLE 8 North America IoT Hardware for Control & Connectivity Devices Market by Country, 2018 - 2021, USD Million
TABLE 9 North America IoT Hardware for Control & Connectivity Devices Market by Country, 2022 - 2028, USD Million
TABLE 10 North America IoT Hardware for Security & Surveillance Equipment Market by Country, 2018 - 2021, USD Million
TABLE 11 North America IoT Hardware for Security & Surveillance Equipment Market by Country, 2022 - 2028, USD Million
TABLE 12 North America IoT Hardware for Smart Appliances Market by Country, 2018 - 2021, USD Million
TABLE 13 North America IoT Hardware for Smart Appliances Market by Country, 2022 - 2028, USD Million
TABLE 14 North America Smart Home Hardware Market by Country, 2018 - 2021, USD Million
TABLE 15 North America Smart Home Hardware Market by Country, 2022 - 2028, USD Million
TABLE 16 US Smart Home Hardware Market, 2018 - 2021, USD Million
TABLE 17 US Smart Home Hardware Market, 2022 - 2028, USD Million
TABLE 18 US Smart Home Hardware Market by Product, 2018 - 2021, USD Million
TABLE 19 US Smart Home Hardware Market by Product, 2022 - 2028, USD Million
TABLE 20 Canada Smart Home Hardware Market, 2018 - 2021, USD Million
TABLE 21 Canada Smart Home Hardware Market, 2022 - 2028, USD Million
TABLE 22 Canada Smart Home Hardware Market by Product, 2018 - 2021, USD Million
TABLE 23 Canada Smart Home Hardware Market by Product, 2022 - 2028, USD Million
TABLE 24 Mexico Smart Home Hardware Market, 2018 - 2021, USD Million
TABLE 25 Mexico Smart Home Hardware Market, 2022 - 2028, USD Million
TABLE 26 Mexico Smart Home Hardware Market by Product, 2018 - 2021, USD Million
TABLE 27 Mexico Smart Home Hardware Market by Product, 2022 - 2028, USD Million
TABLE 28 Rest of North America Smart Home Hardware Market, 2018 - 2021, USD Million
TABLE 29 Rest of North America Smart Home Hardware Market, 2022 - 2028, USD Million
TABLE 30 Rest of North America Smart Home Hardware Market by Product, 2018 - 2021, USD Million
TABLE 31 Rest of North America Smart Home Hardware Market by Product, 2022 - 2028, USD Million
TABLE 32 Key Information – Google LLC
TABLE 33 Key Information – Amazon.com, Inc.
TABLE 34 Key Information – SCHNEIDER ELECTRIC SE
TABLE 35 Key Information – Honeywell International, Inc.
TABLE 36 Key Information – ABB Group
TABLE 37 Key Information – JOHNSON CONTROLS INTERNATIONAL PLC
TABLE 38 Key Information – Panasonic Corporation
TABLE 39 key Information – Legrand S.A.
TABLE 40 Key Information – Samsung Electronics Co. Ltd.
TABLE 41 KEY INFORMATION – GENERAL ELECTRIC (GE) CO.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2019, Dec – 2022, Apr) Leading Players
FIG 5 SWOT Analysis: Alphabet Inc. (Google Inc.)
FIG 6 Recent strategies and developments: Amazon.com, Inc.
FIG 7 SWOT analysis: Amazon.com, Inc.
FIG 8 Recent strategies and developments: Schneider Electric SE
FIG 9 Swot analysis: Schneider Electric SE
FIG 10 Swot analysis: Honeywell international, inc.
FIG 11 Recent strategies and developments: ABB Group
FIG 12 SWOT Analysis: ABB Group
FIG 13 Recent strategies and developments: Johnson Controls International PLC
FIG 14 SWOT Analysis: Panasonic Corporation
FIG 15 Recent strategies and developments: Legrand S.A.
FIG 16 SWOT Analysis: Samsung Electronics CO. Ltd.
FIG 17 Swot analysis: General electric (GE) Co.