Smart Home - Asia

  • Asia
  • The Smart Home market in Asia is projected to experience substantial growth in the coming years.
  • According to estimates, the revenue in this market is expected to reach €55.4bn by 2024.
  • Furthermore, it is anticipated that the market will continue to expand at an annual growth rate of 12.20% between 2024 and 2028, resulting in a projected market volume of €87.8bn by 2028.
  • In terms of household adoption, the number of active households in the Smart Home market is predicted to reach [users_currentlayer_yearend] by 2028 in Asia.
  • This indicates a significant increase in the penetration of Smart Home market technology, with household penetration expected to rise from 17.2% in 2024 to 31.4% by 2028.
  • Currently, the average revenue per installed Smart Home market in Asia is estimated to be €259.70.
  • This figure highlights the potential for revenue generation in this market segment.
  • When comparing global performance, United States leads the way in terms of revenue generation in the Smart Home market.
  • In 2024, United States is projected to generate €35,470.0m in revenue, making it the highest revenue-generating country in this market segment.
  • In South Korea, the smart home market is booming, with a focus on integrating AI technology and voice control systems.

Key regions: United States, United Kingdom, Germany, Europe, Norway

 
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Comparación de regiones
 
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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 segment. 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 digital products and services 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 twice a year in case market dynamics change.

Visión general

  • Revenue
  • Smart Homes
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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