Smart Home - Italy

  • Italy
  • Revenue in the Smart Home market is projected to reach €1,242.0m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.28%, resulting in a projected market volume of €1,771.0m by 2028.
  • Household penetration will be 17.6% in 2024 and is expected to hit 35.2% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to €265.10.
  • A global comparison reveals that most revenue is generated United States (€35,980.0m in 2024).
 
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Analyst Opinion

The Smart Home market in Italy has been witnessing a steady growth in recent years, reflecting a global trend towards connected and automated living spaces.

Customer preferences:
Italian consumers are increasingly drawn to smart home devices that offer convenience, energy efficiency, and enhanced security. The desire for seamless integration and control of various household functions through mobile apps or voice assistants is driving the demand for smart home products.

Trends in the market:
One notable trend in the Italian Smart Home market is the growing popularity of smart thermostats and lighting systems. These products not only provide energy savings but also offer users the ability to customize their home environment according to their preferences. Additionally, the adoption of smart security systems, including cameras and smart locks, is on the rise as Italians seek to enhance the safety of their homes.

Local special circumstances:
Italy's unique cultural emphasis on home and family life plays a significant role in shaping the Smart Home market. The Italian concept of "La Dolce Vita" or the sweet life, underscores the importance of creating a comfortable and enjoyable living space. As a result, Italian consumers are particularly receptive to smart home solutions that promise to enhance their daily routines and overall quality of life.

Underlying macroeconomic factors:
The economic landscape in Italy, characterized by a growing middle class and increasing urbanization, provides a favorable environment for the expansion of the Smart Home market. As more Italians move into urban areas and embrace modern lifestyles, the demand for innovative home technologies is expected to continue its upward trajectory. Additionally, government initiatives promoting energy efficiency and sustainability are likely to drive the adoption of smart home solutions across the country.

Methodology

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.

Forecasts:

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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