Smart Home - Hong Kong

  • Hong Kong
  • Revenue in the Smart Home market is projected to reach €169.0m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.63%, resulting in a projected market volume of €244.1m by 2028.
  • Household penetration will be 11.3% in 2024 and is expected to hit 16.3% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to €516.30.
  • 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 Hong Kong is experiencing a significant growth trajectory.

Customer preferences:
Customers in Hong Kong are increasingly leaning towards smart home devices that offer convenience, energy efficiency, and security. The demand for smart home assistants, smart lighting systems, and smart security cameras is on the rise as residents seek to streamline their daily routines and enhance home security measures.

Trends in the market:
One notable trend in the Smart Home market in Hong Kong is the integration of smart home technology in new residential developments. Property developers are incorporating smart home features into their projects to attract tech-savvy buyers and enhance the overall value proposition of the properties. This trend is reshaping the real estate landscape in Hong Kong and driving the adoption of smart home solutions across the city.

Local special circumstances:
Hong Kong's compact urban environment and high population density create unique challenges and opportunities for the Smart Home market. The limited living space in many Hong Kong homes has led to a growing interest in smart home devices that can maximize efficiency and functionality within constrained areas. Additionally, the city's focus on sustainability and energy conservation is driving the demand for smart home solutions that promote eco-friendly practices.

Underlying macroeconomic factors:
The robust technological infrastructure in Hong Kong, coupled with high disposable incomes and a tech-savvy population, is fueling the growth of the Smart Home market. The city's status as a global financial hub and its reputation for innovation and connectivity make it a prime market for smart home technology companies looking to expand their presence in the Asia-Pacific region. As Hong Kong continues to embrace digitalization and smart city initiatives, the Smart Home market is poised for further expansion in the coming years.


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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