The Italian smart home market grew by 5% in 2023

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Image by Gerd Altmann from Pixabay.

According to the Internet of Things Observatory (School of Management of Polytechnic Milan), in 2023 the Italian smart home market continued to increase: it reached 810 million euros (+5% compared to 2022), highlighting a growth rate higher than the European average. Despite this, Italy’s distance from other countries in terms of per capita spending remains relevant, with 13.7 euros per inhabitant compared to 28.8 euros on average in Europe. The security solutions drive the market with sales equal to 195 million euros (24% of the total). The smart appliances follow with 151 million euros (19%) and a significant growth (+8% compared to 2022). In the third place are smart heating and air conditioning systems, with 148 million euros (18% of the market, -5%). Although the reduction of the incentives has contributed to the slowdown in sales, the solutions “closer” to energy saving, such as boilers, heat pumps, thermostats, thermostatic valves and connected air conditioners, retain a significant weight. Users are increasingly attentive to this issue, both due to the costs associated with consumption and the growing attention to sustainability: 17% of consumers associate the concept of smart home with the consumption management and 24% of users identify the real-time analysis of energy consumption as the service of greatest interest for the future. Finally, in the fourth place are smart speakers (130 million euros, 16% of the market). “2023 brought great news on the supply and demand front for smart home solutions – says Giulio Salvadori, Director of the Internet of Things Observatory -. On the demand side, we are witnessing an increasingly strong consolidation of the app as the main interface between the smart home and the user. On the supply side, the number of companies offering innovative services is growing, integrating Artificial Intelligence algorithms into their solutions. The goal is to retain the customers, focusing on an increasingly personalized experience and creating value thanks to the data collected”.