Smart Home Devices Statistics 2024 and Facts

Introduction

Smart Home Devices Statistics: Technology has made our lives too smooth because now, within seconds, we can quickly clear all our doubts. Are you interested in smart devices? Then, you are on the right track because this Smart Home Devices Statistics will guide you in understanding the different segments, facts, and current trends of smart devices. These devices are electronic embedded devices that include the implementation of IoT, AI, and machine learning for enabling effective connecting and communication with other networks and devices for completing every task efficiently.

Editor’s Choice

• The market valuation of global smart homes in 2023 will account for $100.42 billion.
• According to smart home devices statistics, the North American region held the highest share, at 40%, and Asia Pacific was the second highest, with a 30% share, in 2023.
• In the 1^st quarter of 2024, the estimated global shipment of smart home devices will be 186 million units, and the shipment rate will have fallen by 5.6% from 2023.
• According to IDC, the steepest decline has been predicted in the smart speakers and network video entertainment devices market, with a 15.4% and 7.8% fall, respectively.
• The total number of shipments of smart home devices such as Alexa, Google Assistant, Siri, and Google Home will surpass 5.5 million by the end of 2030.
• In the United States, at least one smart home device was implemented within 70% of households by 2023, resulting in over 60.4 million households.
• As of 2024, over 400 million smart homes will be available globally.
• Americans spend up to $1,172 on average to implement smart devices in their homes.
• By 2025, the total number of homes using smart devices in the global market will reach 478.2 million and 672.57 million by 2027.
• Around 74% of Americans are now willing to own a smart home device, and this is because of rapid climate change.

Facts On Smart Home Devices

• 81% of People with experience and knowledge about the benefits of smart devices now prefer to buy a house assembled with intelligent technologies.
• In the United States, at least one smart home device is owned by men (82%) and women (49%) in 2023.
• After using smart home devices, American homeowners have saved around $98 per month, resulting in an annual saving of $1,180.
• Wifi is the most commonly used connectivity, whereas landline and cellular backup are used in intelligent security cameras.
• Around 32% of Indian people have spent over 20 to 50K implementing several smart home devices.

(Reference: assets.site-static.com)

• The global smart home market share by device types is Safety and security (26%), Climate control (17%), Lighting control (13%), and Energy and water control (9%).\
• Smart TVs and intelligent plugins such as Apple TV or Chromecast are currently owned by 70% of Americans.

General Smart Home Devices Statistics

• In the U.S., the usage of smart home devices is at its maximum, and 57% of Americans use them to save 30 minutes daily, which results in 182.5 hours annually.
• Robot vacuums, intelligent washing machines and dryers, and customizable LED lights are the most used devices
• Almost 40% of adults use voice searches daily as of 2024.
• Smart speakers are used by 49% of broadband households in the U.S. for setting reminders on calendars, setting timers and schedules, asking questions, and requesting another device for managing other activities.
• In 2023, the penetration rate of smart speakers will reach 21%, and in the United States, it will be 1%.
• For implementing an intelligent security system by 2024, it is estimated that households will spend approximately $35 billion.
• Intelligent security devices have positively impacted the lives of 60% of households in the U.S., and 63% of homeowners prefer investing in innovative security systems, such as burglar alarms, home monitoring and camera surveillance systems, environmental sensors, and flood, leak, and smoke sensors.
• The smart meter market valuation is supposed to reach $29.8 billion by 2026, with a growth rate of 7.2% CAGR from 2022 to 2026.

Smart Home Devices User Statistics

(10-year analysis from 2018 to 2027)

(Reference: oberlo.com)

• In the United States of America, 63.43 million households were using smart home devices in 2023, which has increased by 10.2% each year from 2018 to 2023.
• In the next four years, the number of smart home device users will increase, expecting 69.91 million by the end of 2024.
• Meanwhile, estimated users of the U.S. in 2025 (77.05 million), 2026 (84.92 million), and 2027 (93.59 million).

Smart Homes User Statistics

(10-year analysis from 2019 to 2028)

(Reference: statista.com)

• According to a report published by Statista Research Department, total users of smart homes accounted for 360.68 million worldwide.
• By the end of 2024, global smart home users are expected to reach 422.119 million, and the indicator is estimated to get higher numbers in the coming years.
• Furthermore, total users in 2025 (493.55 million), 2026 (576.22 million), 2027 672.5 (million), and 2028 (785.16 million).
• The global revenue per user of the smart home market is expected to decrease continuously from 2023 to 2028, resulting in $78.9. Thus, by 2028, the average revenue per smart home will be $294.94.

By Region

• According to a report published by Exploding Topics, in 2023, the Far East and China accounted for the largest market share of smart home devices with 375 million unit shipments.
• Other regions are followed by Europe (219.6 million units), North America (192.5 million units), Latin America (31 million units), and the Rest of the world (121.8 million units).
• As of 2024 and 2025, regional shipments of smart home device units are The Far East and China (521.8 million and 726.7 million), Europe (283.1 million and 384.9 million), North America (250 million and 329.2 million), Latin America (45 million and 68.8 million), and Rest of the world (175.8 million and 260.9 million) respectively.

Consumer Spending on Smart Home Devices (7-year analysis from 2019 to 2025)

(Reference: buttercms.com)

• Consumer spending on smart home devices has increased since 2020 and is expected to reach $173 billion by the end of 2025.
• In the past, the maximum growth was accounted for in 2021 with ($123 billion), which is followed by 2022 ($134 billion) and 2023 ($147 billion).
• By the end of 2024, global consumer spending on smart home devices will reach $159 billion.

By Segments

• Video entertainment holds the largest market share in 2023 with 29.9%, which is followed by home security (22.1%), smart speakers (14.3%), and others (33.7%).
• As of 2024, the expected market share of different will be 31. 3% on video entertainment, 21.1% (home security), 14.1% (smart speaker), and 33.5% (others).
• Similarly, in 2025, segmental market shares of smart home devices are predicted to be video entertainment (27.6%), home security (21.2%), smart speakers (14.4%), and others (36.9%).

Smart Speaker Statistics

• The global sales of smart speakers are estimated to be above 280 million units by the year’s end of 2024 and are expected to gain a market size of up to $30 billion.
• The U.S. will hold the largest market share with 25% fol, lowed by Germany (10%) in 2024.

(Reference: Smit.vub.ac.be)

• The usage frequency of smart speakers most in Germany as of 2023, followed by daily (66.80%), month-to-month (23.50%), and never (9.70%).
• Furthermore, in the United Kingdom, usage share is followed by each day (66.30%), monthly (26.30%), and never (9.70%).
• American usage: daily (50.10%), month-to-month (25.60%), and by no means (24.30%).
• The record additionally stated that 70% of these speaker proprietors use their gadgets day by day.
• Furthermore, the document observed that the maximum standard time of day for smart speaker usage changed into the night, between 6 pm and 9 pm.

Home Security Statistics

(Reference: buttercms.com)

• Home security systems are one of the fastest growing segments in the smart home devices market, and in 2023, total revenue earned resulted in $4.3 billion worldwide.
• Meanwhile, by 2025, the expected global revenue generated by the segment will be $5.05 billion.

Smart Home Security Statistics

(Source: mordorintelligence.com)

• The expected revenue earned by the global smart home security market by the end of 2024 will result in $32.46 billion and $61.97 billion by 2029, with a growth rate of 13.81% (2024 to 2029).

(Reference: assets.site-static.com)

• In the U.S., nearly 72% of households have installed at least one security device. In 2023 51 mi, million households have installed video surveillance systems, and 39 million installed alarm systems.
• The average cost of installing a home security system is around $475.
• As of 2023, types of device usage share are followed by video surveillance (42%), Video doorbells (38%), alarm systems (35%), and access control (10%).

Smart Assistant’s Statistics

• According to a report published by Insider Intelligence’s forecast, in the United States, total voice assistant users will have reached 145.1 million by 2023 end.
• The total number of users is expected to grow by 3% CAGR from 2023 to 2027.
• The top companies of voice assistants are Google Assistant, Apple’s Siri, and Amazon Alexa.
• As of 2023, in the U.S., the total number of users is followed by Google Assistant (85.4 million), Apple’s Siri (81.1 million), and Amazon Alexa (73.7 million)
• Worldwide usage of digital voice assistants by 2024 will reach up to 8.4 billion.

Smart Lighting Statistics

(Source: mordorintelligence.com)

• The market size is expected to reach USD 19.65 billion in 2024, growing at a CAGR of 18.94% to reach USD 46.79 billion by 2029.
• Government regulations, particularly those mandating the use of LEDs, are a major driver for market growth. For example, the US and European Union have set performance standards and directives that favor energy-efficient lighting solutions, significantly impacting the adoption of LED technology.
• The Asia-Pacific region is anticipated to witness the fastest growth due to the increasing adoption of IoT technologies, particularly in China, Japan, and India. These countries are experiencing a surge in smart device usage, which is expected to boost the demand for smart lighting solutions.
• Key market players include Signify Holding, Control4 Corp. (Snap One LLC), Lutron Electronics Co. Inc, Wyze Labs Inc., and Sengled, which are expanding their presence through new contracts and acquisitions.
• Costs of best smart light bulbs of 2024 used in smart homes are Nanoleaf Essential smart lights ($18), intelligent Tapo TP-Link light bulbs ($15), TCP Smart wifi bulbs ($12), Philips Hue White and Color Ambiance Starter Set ($99), and Nanoleaf Canvas lights ($73) all are readily available at Amazon.

Smart Security Camera Statistics

• The smart home security camera market is experiencing significant growth, with projections indicating a Compound Annual Growth Rate (CAGR) of 19.2% from 2023 to 2030. This growth is driven by the rising demand for residential security due to an increase in property crimes, alongside the advancement and integration of smart home technologies​​​.
• The market size is expected to expand notably, reaching USD 30.10 billion by 2030. This expansion is attributed to the increased adoption of smart home automation solutions, such as video doorbells and wireless home security cameras, which enhance intrusion detection and perimeter security​.
• Wired smart home security cameras accounted for the largest revenue share in 2022, favored for their reliability and reduced maintenance requirements. However, wireless technology is anticipated to witness the fastest growth due to its convenience and integration with smart home ecosystems​.
• Indoor cameras have dominated the market, driven by the need for constant monitoring of homes for security, child and pet surveillance, and emergency alerts. Artificial intelligence (AI) enhancements in these cameras have further bolstered their adoption​.
• North America remains the largest market for smart home security cameras, particularly in the U.S., where the adoption of home automation systems and smart home technologies is extensive. The Asia Pacific region, especially China and India, is expected to see rapid growth due to urbanization, increased safety awareness, and technological advancements in smart home devices​​​.
• The market is competitive with several key players like Vivint Smart Home, Inc., ADT Inc., SimpliSafe, Inc., Brinks Home Security, and Xiaomi Inc., among others, driving innovation and market expansion through advanced features like AI, real-time monitoring, and smart home integration​.
• Demand for smart home security cameras is bolstered by their advanced features, such as real-time alerts, integration with other smart devices, and remote access capabilities. The increasing consumer preference for smart homes and the integration of IoT technology are significant factors influencing market dynamics​​​.

5-year Household Analysis From 2023 to 2027

(Reference: statista.com)

• Nearly 98.86 million households worldwide will have installed smart security cameras in 2023.
• By the next four years, smart security cameras in several households in 2024 will be 122.13 million, in 2025 (146.88 million), 2026 (163.73 million), and by the end of 2027, 180.70 million.

Smart TV Statistics

• The global smart TV market was valued at approximately USD 211.42 billion in 2023 and is projected to reach around USD 451.26 billion by 2030, growing at a CAGR of 11.4% during the forecast period​.
• The demand for higher resolution TVs, such as 8K, is rising, with a predicted CAGR of around 17% from 2023 to 2030, due to the demand for super high-resolution picture quality. The 46 to 55-inch screen size segment dominated the market revenue in 2022, with a shift towards even larger screens, above 65 inches, expected to grow at a CAGR of about 16% during the same period​.
• Android TV dominated the market with the largest revenue share in 2022, thanks to its extensive app ecosystem. Meanwhile, the online sales channel for smart TVs is estimated to see the highest growth rate from 2023 to 2030, as consumers increasingly turn to e-commerce platforms for their electronic purchases​.
• The Asia Pacific region held the largest market share, with over 40% of global revenues in 2022. This dominance is attributed to the rising popularity of smart TVs in countries like India and China, driven by the emergence of new market players and increasing consumer spending capacity​.
• The market is competitive with major players like LG Electronics Inc., Samsung Electronics Co. Ltd, TCL Electronics Holdings Limited, Hisense Group, and Xiaomi Corporation leading the space. These companies are continuously innovating and expanding their product lines to cater to the evolving consumer demands​.
• The smart TV market’s growth is fueled by the widespread availability of high-speed internet, the rise of OTT media services, and consumer preference for online streaming platforms. Smart TVs offer a seamless way to access a wide range of online content, including streaming services, social media, and web browsing, directly from the television​.
• One significant challenge to market growth is the high cost associated with the latest smart TV technologies, which can be prohibitive for low-income consumers. This factor may limit market expansion to higher-income segments, slowing adoption rates among lower-income groups​.

6-year Installation Analysis From 2022 to 2027

(Source: spglobal.com)

• The Asia Pacific region will account for the highest Smart TV installment rate by 2027, resulting in 450.8 million.
• In other regions, installment rates in 2027 are going to reach North America (290.2 million), Western Europe (204.9 million), Latin America and the Caribbean (96.1 million), Eastern Europe (81.2 million), and the Middle East and Africa (30.5 million).

Smart Thermostats Statistics

(11-year analysis from 2023 to 2030)

(Reference: statista.com)

• The global smart thermostat market valuation in 2023 will cost $3.9 billion.
• The market size of global smart thermostats will account for $4.9 billion in 2024, and others are followed by 2025 ($6.2 billion), 2026 ($8 billion), 2027 ($10.4 billion), 2028 ($13.8 billion), 2029 ($18.6 billion), and 2030 ($25.5 billion).
• Costs of the top 5 best smart thermostats of January 2024 available at Amazon are Ecobee Smart Thermostat Premium ($249.99), Nest Learning Thermostats ($249), Nest Thermostat ($129.99), Wyze Thermostat ($95.50), and Amazon Smart Thermostat ($79.99).

Smart Plugs Statistics

(Source: technavio.com)

• The North American region has experienced the largest share, and 2027, the market is supposed to grow by 31% by the end of 2027.
• In the United States, in 2023, the adoption of smart plugs has increased across 695 households.
• The market size of Smart Plugin 2023 was $2.69 billion and is expected to reach $9.12 billion by 2028, along with a CAGR of 27.66%.
• The global smart plug market is projected to expand from USD 2.69 billion in 2023 to USD 9.12 billion by 2028, showcasing a Compound Annual Growth Rate (CAGR) of 27.66% during the forecast period​​.
• The market’s growth is substantially driven by the widespread adoption of smart homes and advancements in the Internet of Things (IoT) frameworks. Smart plugs are integral to the smart home ecosystem, allowing users to remotely control and automate the operation of household appliances and devices​​.
• While smart plugs become increasingly commonplace, security concerns arise regarding user privacy and the potential for devices to be compromised. These issues have attracted attention from both academic and industrial sectors, underscoring the need for secure smart home solutions​​.
• Asia-Pacific, led by China and India, is highlighted as a region with significant growth potential, attributed to the rapid adoption of IoT and automation technologies. China, in particular, is noted for its advanced manufacturing capabilities and is a major hub for the production of smart plug components. North America and Europe also show promising growth, with advancements in IoT and smart home adoption driving the market​​.
• The market is characterized by the presence of major companies such as TP-Link, Belkin International, Panasonic, D-Link, and Xiaomi, among others. These companies are continuously innovating and expanding their product lines to include smart plugs that cater to the evolving needs of the smart home industry​​.
• The smart plug market is witnessing a shift towards Wi-Fi and Bluetooth-enabled devices, facilitating easy integration into existing smart home networks. The introduction of products certified by new protocols such as Matter indicates a move towards standardization and interoperability in the smart home devices sector​​.

Smart Security Camera Statistics

• The worldwide market of smart security cameras is increasing continuously, and in 2023, around 82.79% of households will use the device, which is approximately 81.84 million.
• 2027, a new peak record is expected, resulting in 180.7 million households using smart security cameras globally.
• According to KBV Research, by 2026, the global market size of smart home security cameras is expected to reach $10.4 billion.
• The global smart home security camera market was valued at approximately USD 7.37 billion in 2022, indicating a robust foundation in the smart home sector.
• The market is expected to grow at a compound annual growth rate (CAGR) of 19.2% from 2023 to 2030. This growth is driven by an increasing awareness of home security needs and advancements in camera technology.
•  In North America alone, the smart home security cameras market size was valued at around USD 2.99 billion in 2022, with an expected CAGR of 19.8% from 2023 to 2030. This highlights the region’s significant contribution to the market’s overall growth.
• The surge in demand for smart home security cameras can be attributed to a rise in regional thefts and burglaries. These devices have proven effective in preventing such crimes, thereby increasing their adoption among homeowners.
• By 2030, the global smart home security camera market is anticipated to reach a valuation of approximately USD 30.10 billion. This projection underscores the market’s potential for expansion and the growing consumer interest in home security solutions.
• The rapid adoption of the Internet of Things (IoT) in smart homes is a key factor supporting the industry’s growth. Innovations in camera technology, including improved resolution, connectivity, and integration capabilities, are expected to further fuel market expansion.
• Prominent companies in the smart home security camera market include Vivint Smart Home Inc., ADT LLC, Simplisafe Inc., Brink’s Home Security, iSmart Alarm Inc., Live Watch Security LLC, Skylinkhome, Protect America Inc., Samsung Electronics Co., LTD., Frontpoint Security Solutions, LLC, Arlo Technologies Inc., Nest Labs, Wyze Labs Inc., Blink, and Ring LLC. These companies are leading the market with continuous product innovation and strategic market initiatives​​​​​.
• Recent developments in the market include the introduction of dual-camera devices by Eufy Security, smart security cameras with night vision and intercoms by Xiaomi, and the launch of a DIY home security system by Google in collaboration with ADT. These innovations highlight the industry’s focus on enhancing surveillance capabilities and user convenience through technology​.

Smart Curtains and Blinds Statistics

• The global curtains and window blinds market is expected to cross USD 30 billion by 2032, with significant growth driven by technological advancements and increasing demand for motorized and smart window solutions. The market is propelled by a rising preference for housing and commercial infrastructure enhancements, along with advancements in motorized blinds and shades for enhanced safety and convenience​​​.
• Asia Pacific is forecasted to hold the largest market share by 2035, fueled by rising disposable incomes, urbanization, and a booming construction sector. This region is seeing a significant shift towards urban living, with a projected addition of 1.2 billion people in urban areas by 2050. The increase in tourism, particularly in China, has also spurred hotel construction, influencing demand for curtains and window blinds​.
• North America is expected to experience the highest growth rate, attributed to the increasing trend of smart homes and the integration of AI in window coverings. The DIY trend and a substantial presence of companies with established distribution networks further contribute to this growth​.
• The market is seeing a shift towards online distribution channels, with a projected growth rate of 8.8% from 2023 to 2030. The convenience and efficiency of online shopping, along with the rise in home-furnishing transactions, are notable trends. Smart home automation technologies are also becoming increasingly popular, with companies introducing products like smart window blinds that can be controlled wirelessly, offering convenience and integration with home automation systems​.
• The demand for polyester material in curtains and window blinds is projected to cross USD 4 billion by 2032, owing to its durability and insulating properties​.
• Cotton window blinds are experiencing growth in the residential sector, with the market from the cotton material segment surpassing USD 1.2 billion in 2022​.
• Market leaders such as Hunter Douglas N.V., Norman Window Fashions, and Kirsch are focusing on product innovation and smart technology integration to cater to evolving consumer preferences. Recent product launches, such as the Motion Blinds Upgrade Kit for Roller Blinds by Eve, indicate a strong focus on enhancing user convenience and energy efficiency​.

Smart Refrigerator Statistics

(Source: mordorintelligence.com)

• As of 2024, the expected market valuation of smart refrigerators will be $3.61 billion.
• By 2029, the market will reach above $4.22 billion at a CAGR of 3.14% from 2024 to 2028.
• The top three manufacturers of smart refrigerators are Whirlpool, Samsung, and Haier, holding a market share of 30% in 2023.
• Most users of smart fridges belong to metropolitan areas and are aged between 34 and 49 years.
• Families with annual incomes above $100K had a single smart fridge at their homes.
• The most extensive use of smart fridges is French door refrigerators, with a share of 45%, which are used highly in commercial appliances, followed by home appliances.
• China will have the largest market share of over 55%, followed by the North American region (25%) and Europe (25%).

Conclusion

This article on Smart Home Devices Statistics has helped you understand the overall market of smart home, smart devices, and their implementations. The paper includes several current statistical analyses, such as smart speakers,  smart home security, smart cameras,  smart plugins, smart assistants, smart lighting, smart refrigerators, smart TVs, etc. So, the marketplace is predicted to grow gradually in 2024 and the coming years.

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