Smart Home - Europe

  • Europe
  • Revenue in the Smart Home market is projected to reach €37.2bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 10.26%, resulting in a projected market volume of €54.9bn by 2028.
  • Household penetration will be 24.9% in 2024 and is expected to hit 48.3% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to €413.50.
  • A global comparison reveals that most revenue is generated United States (€35,980.0m in 2024).
Comparación de regiones

Analyst Opinion

The Smart Home market in Europe has been experiencing significant growth and development in recent years.

Customer preferences:
Customers in Europe are increasingly drawn to smart home technologies that offer convenience, energy efficiency, and security. The desire for connected homes that can be controlled remotely via smartphones or voice assistants is driving the demand for smart home devices across the region.

Trends in the market:
In countries like Germany, the focus is on energy-saving solutions, with smart thermostats and lighting systems gaining popularity. In contrast, Scandinavian countries such as Sweden and Norway are more interested in smart security systems to enhance home safety. The United Kingdom is witnessing a trend towards smart entertainment systems and connected appliances.

Local special circumstances:
One of the key factors influencing the Smart Home market in Europe is the regulatory environment. The General Data Protection Regulation (GDPR) has had a significant impact on the collection and use of personal data by smart home devices, leading to a greater emphasis on data security and privacy in the region. Additionally, cultural differences and varying levels of technological adoption across European countries contribute to the diverse preferences and trends in the Smart Home market.

Underlying macroeconomic factors:
The growing urban population, increasing disposable income, and advancements in technology are driving the adoption of smart home devices in Europe. As consumers become more tech-savvy and environmentally conscious, the demand for innovative smart home solutions is expected to continue rising. Moreover, the competitive landscape with a wide range of players offering smart home products and services is fostering innovation and driving market growth in the region.


Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

Visión general

  • Revenue
  • Key Players
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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