Smart Home Automation Market Size to Hit USD 417.97 Billion

Austin, July 01, 2025 (GLOBE NEWSWIRE) — Smart Home Automation Market Size & Growth Insights:

According to the SNS Insider,“The Smart Home Automation Market Size was valued at USD 78.01 Billion in 2023 and is expected to reach USD 417.97 Billion by 2032 and grow at a CAGR of 20.53% over the forecast period 2024-2032.”

Driving Forces Behind the Expansion of the Smart Home Automation Market

The Smart Home Automation market is witnessing robust growth due to its demand in the consumer market in order to improve the security, convenience, and the energy efficiency of these energy based automated systems. The practice of connecting IoT-compatible devices allows users to remotely control their homes, like turning on lights, adjusting the thermostat and much, much more. Government regulations to drive energy saving, and smart infrastructure in particular, are helping to expand the market.

The U.S. Smart Home Automation Market is expected to be USD 19.90 Billion in 2023 and is further expected to increase at a CAGR of 20.08%. The addition of AI with voice assistants like Alexa, Google Assistant, and Siri have made smart home systems more human-centric and easier to integrate for consumers. Furthermore, wireless technology progress, such as 5G, is making it possible to implement real-time automation more quickly. All of which, as well as increased awareness around living sustainably, are driving the adoption of smart home systems worldwide.

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Leading Market Players with their Product Listed in this Report are:

• Amazon (Echo)
• Google (Nest Thermostat)
• Apple (HomePod)
• Samsung (SmartThings Hub)
• Philips (Hue Smart Bulbs)
• Honeywell (T9 Smart Thermostat)
• Bosch (Smart Home Controller)
• LG (ThinQ)
• Schneider Electric (Wiser Energy)
• Xiaomi (Mi Smart Home Kit)
• Ecobee (SmartThermostat with Voice Control)
• August (Smart Lock Pro)
• Ring (Video Doorbell)
• TP-Link (Kasa Smart Plug)
• Leviton (Decora Smart Switches)

Smart Home Automation Market Report Scope:

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Key Industry Segmentation

By Component

In 2023, the hardware segment dominated the Smart Home Automation market with a 56.6% share, and is mainly influenced by the growing adoption of smart sensors, locks, thermostats, and security devices required in automation systems. Nevertheless, with more and more shoppers emphasizing performance and security, demand for hardware in mature markets may start to focus more on upgrades than new installs.

From 2024 to 2032, the services segment is projected to grow at the highest CAGR, owing to increasing demand for professional installation, integration, maintenance, and customized support in advanced smart home solutions.

By Technology

In 2023, wireless technology led the Smart Home Automation market with a 61.8% share, and is expected to remain the dominant force. It is fantastic for new construction or retrofit applications because of its ease to install, versatility and affordability.

From 2024 to 2032, cellular technology is expected to grow at the fastest CAGR, supported by expanding 5G networks and the need for always-connected systems. It enables direct cloud communication, enhancing reliability and access in areas with limited broadband connectivity.

By Application

In 2023, the security segment led the Smart Home Automation market with a 29.3% share, and is driven by growing deployment of smart locks, video doorbells and motion sensors, as well as real-time surveillance capabilities. Global adoption is being fueled by AI-powered tools such as facial recognition and anomaly detection.

The smart kitchen segment is expected to grow at the fastest CAGR from 2024 to 2032, due to increasing demand for convenience, energy saving appliances, and voice-enabled cooking solutions.

By Fitment

In 2023, the retrofit segment dominated the Smart Home Automation market with a 63.3% share, due to the fact that smart lighting, security, and energy systems can be easily integrated in an already constructed home. Its appeal is strongest in urban regions, where the shift from old to new is easier than virgin construction.

From 2024 to 2032, the new construction segment is projected to grow fastest, as smart-home features are installed in more newly constructed homes to improve efficiency and connecticity.

Regional Trends Shaping the Smart Home Automation Market

In 2023, North America led the Smart Home Automation market with a 34.8% share, during the forecast period owing to the high disposable income among individuals, and existence of developed home automation infrastructure.

Asia Pacific is expected to witness the fastest CAGR from 2024 to 2032 driven by urbanization, increasing use of smart phone and investments in smart city, with companies like Xiaomi and Panasonic growing availability of localized automation solutions.

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Recent Developments:

• In Jul 2024, Samsung releases SmartThings Energy Flex Connect in NY & CA, to enable users to use rewards by automating devices during peak energy demand. It also comes with AI Energy Mode which helps optimize energy consumption and create a more sustainable grid.
• In June 2025, Ecobee to partner with Airzone on the integration of Inverter HVAC units allowing for smart automation of VRF and Mini Split systems with energy saving capabilities. The partnership enables demand response and green home management in the ecobee ecosystem.

Table of Contents – Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6.  Competitive Landscape

7. Smart Home Automation Market Segmentation, by Component

8. Smart Home Automation Market Segmentation, by Technology

9. Smart Home Automation Market Segmentation, by Application

10. Smart Home Automation Market Segmentation, by Fitment

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.