Smart Home - Mexico

  • Mexico
  • Revenue in the Smart Home market is projected to reach €1,626.0m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 11.73%, resulting in a projected market volume of €2,534.0m by 2028.
  • Household penetration will be 12.5% in 2024 and is expected to hit 23.3% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to €347.90.
  • A global comparison reveals that most revenue is generated United States (€35,470.0m in 2024).
Comparación de regiones

Analyst Opinion

Mexico is experiencing a significant growth in the Smart Home market, with an increasing number of households opting for connected devices and automation solutions.

Customer preferences:
Mexican consumers are showing a growing interest in smart home technologies that offer convenience, security, and energy efficiency. This trend aligns with the global shift towards connected living spaces, where individuals seek to streamline daily tasks and enhance their overall quality of life through technology.

Trends in the market:
One notable trend in the Mexican Smart Home market is the adoption of affordable smart devices that cater to a wider range of income levels. This democratization of smart technology allows more households to participate in the connected home ecosystem, driving market expansion. Additionally, the integration of voice assistants and smart speakers is gaining popularity among Mexican consumers, indicating a preference for hands-free control and seamless connectivity within the home.

Local special circumstances:
Mexico's Smart Home market is also influenced by unique cultural factors and lifestyle preferences. The concept of "familismo," which emphasizes strong family ties and communal living, shapes the demand for smart home solutions that promote communication and shared experiences among family members. Moreover, the country's focus on home security due to safety concerns has led to an increased adoption of smart security systems and surveillance cameras in residential settings.

Underlying macroeconomic factors:
The growth of the Smart Home market in Mexico is further supported by favorable macroeconomic conditions, including rising disposable incomes, urbanization, and technological advancements. As more Mexican households become digitally connected and tech-savvy, the demand for smart home devices is expected to continue on an upward trajectory. Additionally, government initiatives promoting sustainable living and energy conservation are driving the adoption of smart home solutions that offer eco-friendly features and energy-saving benefits.


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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