Homes are now built with smart technology as a central interior design element. With this technology, everyday devices and smart home furniture can be connected to the internet, voice-activated, and remotely controlled via an application.
Such convenience and user control prompted millions of homeowners to switch to this technology and transform their abodes into smart homes.
Global Smart Home Technology Statistics
- As of 2024, there are about 411 million smart homes worldwide. By this year, the number is estimated to be about 470 million.
- In 2023, it was estimated that global spending on the Internet of Things (IoT), aka the network of devices connected to the Internet, reached USD 805.7 billion.
- The estimated market value of smart home technology back in 2023 was USD 102.3 billion. With an annual growth rate of 10.3%, it is forecasted to reach USD 166.7 billion by 2028.
- The global market size for smart home technology was valued at USD 84.5 billion and is expected to rise to USD 116.4 billion by 2029.
- In 2022, the global market revenue for smart home technology was a total of USD 30.9 billion for different device types such as smart appliances, energy management, and home entertainment. By 2026, it is projected that the revenue will skyrocket to USD 47.1 billion.
- More than 5.5 billion Matter-compliant smart home gadgets will be shipped between 2022 to 2030. This wireless tech allows for seamless navigation between various voice assistants and applications.
The growth of smart home technology reflects rising demand for convenience and automation, driven by advancements in IoT and Matter-compliant devices.
However, data privacy concerns remain a major barrier, influencing consumer trust and adoption. To sustain growth, companies must focus on transparency and stronger security measures.
Sources: Statista, Next Move Strategy Consulting, Business Wire, Markets and Markets, PR Newswire
U.S. Smart Home Statistics
- In 2024, 69.91 million of U.S. households were actively using smart home devices. This number is projected to rise to 103 million by 2028.
- 57% of U.S. consumers are expected to adopt smart home technology by 2025.
- Revenue from the smart home market is projected to reach USD 43 billion by 2025 and USD 59 billion by 2029, with an annual growth rate of 8.25%.
- 67% of Americans with smart home technology believe the devices are too expensive, while over 50% are worried about data security and face frequent connectivity issues.
- A 2023 survey found that Connecticut has the smartest homes, with 28.2% of households using smart home devices, followed by Utah, at 27.8%, and Maryland, at 27.6%.
- In 2024, the most popular smart home device brand used was Samsung with 22% of the respondents saying they owned at least one device from the company.
- 72% of American respondents have adopted smart entertainment devices such as TVs, speakers, and virtual reality headsets.
- The average American spent an average of $1,200 on smart home devices in the year 2022.
- 45% of American households own at least one smart home device while 18% have six or more.
Smart home technology is becoming increasingly common in U.S. households, with rising adoption driven by convenience and entertainment-focused devices. While brands like Samsung lead the market, several issues remain key challenges for many users.
Despite these barriers, the market shows steady growth, supported by expanding consumer interest and the integration of smart technology into everyday life.
Sources: Statista, Secure Data Recovery, Safe Wise, Parks Associates
Smart Home Device Statistics
Voice Assistants
- In 2022, approximately 142 million people in the United States used voice assistants, representing nearly half of the population. This number is projected to grow to 157.1 million by 2026.
- Voicebot’s 2022 report found that 57% of the users give at least one voice command every day.
- The global speech and voice recognition market is projected to be valued at USD 83 billion by 2032, with a compound annual growth rate (CAGR) of 20%.
- Google Assistant is at the forefront, with over 85 million users in the U.S. last 2023. Its user base is projected to grow further, nearing 92 million by 2025. This positions it ahead of Siri, which has 86.5 million users, and Alexa, with 77.2 million.
- The global transaction value in eCommerce through voice assistants is estimated at $19.4 billion, reflecting a 400% growth over two years.
Voice assistants are becoming an integral part of daily life, with nearly half of the American population using them regularly and global markets expanding rapidly.
Google Assistant leads in popularity, surpassing Siri and Alexa, while voice-enabled eCommerce is experiencing unprecedented growth. As adoption rises, voice recognition technology continues to transform how users interact with devices and make transactions.
Sources: Statista, Voicebot, Market US, EMarketer, Master of Code
Home Entertainment
- Global revenue for the smart speakers market is projected to rise steadily from 2024 to 2029, with an overall increase of $9.5 billion, representing a 47.08% growth.
- The smart speaker market size is expected to be worth around USD 105.5 Billion by 2033.
- The global market for smart TV was valued at $144.1 billion in 2023 and is expected to grow at a CAGR of 8.9%, reaching $261.9 billion by 2030.
- In 2024, Samsung’s Tizen OS led the global smart TV operating system market with a 12.8% share, powering 120 million smart TV sets. Hisense’s VIDAA OS followed it with 7.8% and LG’s Web OS with 7.4% shares.
- In 2023, Amazon Alexa holds the top spot in the virtual personal assistant market with a 37.1% share, driven by its strong user engagement.
- Home automation statistics show that 44% of smart homes feature smart entertainment systems like Google Chromecast, Apple TV, or Amazon Fire TV.
The smart speaker market continues to expand significantly, with Alexa leading due to its extensive integration and user-friendly features. Smart entertainment systems, including streaming devices and smart TVs, are also becoming foundational elements of connected homes.
Sources: Statista, Market US, GM Insights, Global News Wire, Connected TV Marketing Association
Security
- The Smart Doorbell Market grew from USD 5.06 billion in 2023 to USD 5.92 billion in 2024 and is projected to continue expanding at a CAGR of 18.18%, reaching USD 16.29 billion by 2030.
- Smart home camera adoption saw a notable 55% increase from 2021 to 2022, underscoring the growing emphasis on home surveillance.
- The global number of households with smart security cameras is projected to grow from 77.4 million in 2022 to 163.7 million by 2026, an increase of 86.3 million households, representing a growth rate of 111.5%.
- Consumers spend between $700 and $5,000 on smart home security devices, with an average of $2,850. Setups vary from intruder alarms and doorbell cameras to full home systems with automated sensors and locks.
- One in three Americans worries about smart devices in their homes being hacked. The most concerning devices for consumers include the Amazon Echo, security cameras, Google Nest thermostats, smart doorbells, and smart TVs.
The rapid growth of smart security devices highlights the increasing priority placed on home safety and surveillance. Consumers are investing heavily in diverse systems, from simple alarms to fully integrated setups, reflecting a desire for both convenience and protection.
However, concerns about hacking and data security persist, underscoring the need for manufacturers to prioritize cybersecurity measures. As adoption accelerates, the industry has an opportunity to build trust by addressing these vulnerabilities while continuing to innovate in smart home security solutions.
Source: Research and Markets, Global News Wire, Home Advisor, Tech News World, Statista
Energy management
- In 2021, 19.6 million smart thermostats were installed in the U.S., reducing energy consumption for heating and cooling by 1.4%. This number is projected to reach 38.3 million by 2026, potentially saving 15.5 TWh of electricity.
- The global smart thermostat market, valued at USD 4.99 billion in 2024, is projected to grow at a CAGR of 18.5% from 2025 to 2030.
- As of 2024, smart thermostats are priced between $150 and $320, offering features such as remote control via smartphone apps, automatic learning of household routines, and energy-saving adjustments.
- EnergyStar smart thermostats save an average of 8% on heating and cooling bills, roughly $50 annually. Amounts may vary based on climate, personal comfort preferences, occupancy, and HVAC equipment.
- Smart thermostats use machine learning to adjust settings based on household routines, reducing energy use by 10-15%. Unlike traditional models, they adapt to actual usage, lowering costs and cutting carbon emissions.
Smart thermostats are gaining popularity as more households adopt them for energy efficiency and cost savings. These devices, which use machine learning to adjust settings based on routines, help reduce energy consumption and lower heating and cooling bills.
With ongoing advancements and more affordable options, these devices offer an attractive solution for environmentally conscious consumers seeking both convenience and savings.
Sources: Utility Dive, Grand View Research, Home Guide, Energy Star, One Hour Air Conditioning and Heating
Smart Furniture and Appliances
- The Global Smart Appliances market is projected to generate $68.7 billion in revenue by 2025, growing at a CAGR of 9.81% to reach $99.9 billion by 2029. By then, the number of active households is expected to reach 643.9 million.
- The Global Smart Furniture Market is projected to grow from USD 2.2 billion in 2022 to USD 3.3 billion by 2026, with a CAGR of 10%. Smart furniture connects to the internet, allowing control via voice commands or apps.
- The global smart bed market was valued at USD 3.27 billion in 2023 and is expected to reach USD 6.05 billion by 2032 at a CAGR of 7.3%. North America led the market, holding a 31.8% share.
- A Consumer Reports survey from October 2022 found that 21% of Americans owned at least one large smart appliance, such as a washer, dryer, refrigerator, or dishwasher. These also included ranges, built-in microwaves, and wall ovens.
- The same survey revealed that 39% of respondents cited convenience as a key reason for using or considering smart appliances, while 31% highlighted energy efficiency.
- Approximately 34% of Americans are concerned about data privacy, while 33% worry about hacking when using smart appliances.
The rapid growth across smart furniture and appliances markets reflects a shift toward more integrated, tech-enabled living spaces. The push for energy-efficient appliances, alongside convenience, is driving their widespread adoption.
However, challenges around security and privacy concerns persist, pointing to the importance of building consumer trust and improving device protection as these markets evolve.
Sources: Market US, Statista, Fortune Business Insights, Consumer Reports, You Gov
Smart Lighting
- The global smart lighting market is projected to grow from USD 15.5 billion in 2023 to approximately USD 35.3 billion by 2028, with a compound annual growth rate (CAGR) of 17.9%.
- Active households that use smart lighting are expected to reach 714.4 million by 2029, with household penetration growing from 14.9% in 2025 to 34.1% by 2029.
- Smart lighting systems deliver significant energy savings, cutting lighting costs by 35% to 70%. Leveraging IoT technologies, these systems enable efficient monitoring and control, supporting real-time energy management.
- Smart lights cost an average of $42 each, with prices ranging from as low as $2.24 for the Cree 60W Bulb to $90.35 for the premium Philips Hue Decorative Candle.
As smart lighting systems become more affordable and accessible, they offer significant cost savings while also enabling smarter energy use. With more households set to integrate these systems, we are seeing a shift toward smarter, more sustainable homes.
The affordability of smart lighting, paired with its energy-saving potential, is likely to accelerate this transition, making it a key part of the smart home ecosystem.
Sources: Market US, GDS Lighting, Security
Smart Home Technology is Rapidly Transforming How We Live
More and more households are embracing devices that offer convenience, energy efficiency, and automation. From voice assistants and smart lighting to advanced security systems and energy management, the integration of these technologies is reshaping modern homes.
While the benefits are clear, the future of the smart home market will depend on the market players’ ability to address ongoing concerns like security and affordability, ensuring these innovations reach a broader audience and become an essential part of modern living.
