Global smart home market to exceed 14 billion dollar in 2017


According to “IHS Markit smart home intelligence service”, the smart home market has seen significant growth since 2010, when fewer than 0.5 percent of homes in the Americas region had connected devices such as thermostats, lighting, security and entertainment. By the end of 2017, nearly 7 percent of households in the region will have a connected home, averaging six devices per home. Globally, in 2025, 10 percent of households will have smart homes. The global market for smart home was worth 14.7 billion dollar in 2017, with the Americas region representing 48 percent of global revenues. In 2021, the EMEA region will represent the largest portion of device revenue with a 42 percent global share. Although the EMEA and Americas regions are expected to represent more than 70 percent of revenues for smart devices over the next five years, Asia is expected to dominate in terms of unit shipments. In 2021, the Asia region is expected to represent about 46 percent of unit shipments.