United States (USA) Smart Home Market Research Report, 2028

The market for smart homes is expanding in the United States, which is renowned for its technological advancements and widespread use of smart technologies. Over the course of the forecast period, it is expected that the need to combat security concerns will become more pressing, driving up demand for smart and connected houses. Furthermore, cutting-edge wireless technologies such as HVAC controllers, entertainment controls, and security and access regulators are anticipated to stimulate market expansion. It is anticipated that manufacturers will be motivated to support automation in the home sector by the recent improvements in the Internet of Things (IoT), which have led to a decrease in the cost of processors and sensors. A greater focus is being placed on residential energy management in an attempt to incorporate more sustainable energy resources. Additionally, because energy prices are rising and demand is rising, households need to become more energy efficient in order to lower their energy expenditures. Energy management services for efficient monitoring and control of electricity generation, power conservation, and energy storage techniques are being developed for smart homes with the aid of the Home Energy Management System (HEMS). The creation and implementation of smart home systems and gadgets have become simpler and more economical due to the rapid growth of technology, particularly in the areas of artificial intelligence (AI), IoT (Internet of Things), and connectivity. The aging of the American population has led to an increase in interest in technology that supports independent living for senior citizens. Health monitoring and fall detection systems are two examples of how smart home technology can help seniors live in their homes longer. Users can now more easily operate their smart devices with voice commands thanks to the rise in popularity of speech-activated smart speakers like Google Assistant and Alexa from Amazon, which has accelerated adoption. According to the research report "United States Smart Home Market Overview, 2028," published by Actual Research, the United States Smart Home market is predicted to grow with more than 15% CAGR from 2023 to 2028. The US has seen a surge in the use of smart household appliances, such as refrigerators, doorbells, and lighting. They are becoming increasingly important to any e-commerce organization nowadays because of consumer usage and the ability to shop via devices like smart speakers. In a recent study, it was found that over 50 million American households use smart home technology. A greater variety of consumers now purchase smart home gadgets because of their declining cost as technology advances and economies of scale are realized. As customers grow increasingly health-conscious, smart home gadgets that track health and wellness, like fitness trackers and health sensors, have become more common. The US enjoys the advantages of a well-developed and dependable internet infrastructure. The ubiquitous accessibility of fast broadband internet has made it possible for smart home gadgets to be seamlessly integrated and controlled remotely. The broad connectivity of smart home systems adds to their overall usefulness and convenience by enabling real-time data interchange, control, and monitoring between people and devices. In addition, the US culture's emphasis on individualism and customization has had an impact on the smart home market. Customers in this area typically value being able to customize their smart home configurations to suit their own tastes and requirements. As a result, a huge ecosystem of compatible devices has developed, with businesses prioritizing interoperability to meet the varied needs and preferences of their customers. This focus on personalization has fueled the growth of the smart home market, allowing consumers to mix and match devices from different manufacturers while maintaining a seamless user experience.

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Based on product market is divided into security and access control, lighting control, entertainment system, HVAC control, smart speakers, smart home appliances, smart kitchen appliances, smart home healthcare systems, smart furniture, and others. Among them security and access control product dominates the United States smart home market. A lot of homeowners in America prioritize security. Smart security systems, such as smart locks, video doorbells, and surveillance cameras, provide reassurance and security. These solutions enable homeowners to monitor and secure their properties remotely, as well as receive real-time notifications in the event of suspected security breaches. Products for smart security and access control can readily interact with other smart home devices and systems. They can, for example, be connected to smart lighting, thermostats, and voice assistants to form a full and integrated smart home environment. This connection improves ease and energy efficiency, which further encourages their use. Based on protocols market is bifurcated into wireless protocols, wired protocols, and hybrid protocols. Wireless protocols are expected to lead the market on United States. Wireless protocols reduce the need for bulky wiring, making it easier for homeowners to install and expand smart home systems. Consumers who wish to add smart devices or alter their installations without the hassle of wired connections will appreciate this convenience and flexibility. Many older homes in the United States were not originally designed with smart technology in mind. Wireless protocols are great for retrofitting existing homes since they do not necessitate substantial remodelling or rewiring, which may be costly and inconvenient. Based on application market includes new construction and retrofit. New construction segment is major application for smart home in United States. New homeowners can modify their smart home elements during the development process. They can collaborate with builders to select the particular devices and technologies that best meet their needs, lifestyle, and tastes. This level of customization is frequently not possible in existing homes, where retrofitting can be more complex and costly. New homes can be wired with advanced infrastructure to accommodate smart devices. This includes the installation of structured cabling, built-in Wi-Fi networks, and power management systems, which make it easier to handle a wide range of smart gadgets and assure reliable communication throughout the home. Based on sales channel market is bifurcated into direct and indirect. Majority of smart home devices are distributed through indirect suppliers and is dominating the market as well. The smart home sector is extremely complex, with numerous products, brands, and technologies. Customers can navigate the complicated ecosystem more easily if indirect suppliers, such as shops, provide a single platform for them to discover and purchase these products. Indirect providers provide convenience via a variety of channels, including physical stores, online purchasing, and mobile apps. Customers may browse for smart home items whenever and wherever they choose. Indirect suppliers have created distribution networks that enable effective product availability and delivery throughout a vast geographical area, making it easier for clients to obtain the products they require. In terms of software and services market is divided into behavioral and proactive. Smart homes learn and adapt to the preferences and routines of their owners thanks to behavioral software and services. These systems can study user activity and alter smart devices like lighting, thermostats, and entertainment systems to provide a more personalized and comfortable home environment. Individual tastes can be catered to using behavioral software. It can, for example, curate music or video content based on previous selections and preferences, resulting in a more engaging and personalized entertainment experience. Considered in this report: • Geography: United States • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Kripa Shah

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Aspects covered in this report: • United States Smart Home market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product: • Security and Access Control • Lighting Control • Entertainment System • HVAC Control • Smart Speakers • Smart Home Appliances • Smart Kitchen Appliances • Smart Home Healthcare Systems • Smart Furniture • Other Controls By Protocols: • Wireless Protocols • Wired Protocols • Hybrid Protocols

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By Application: • New Construction • Retrofit By Sales Channel: • Direct • Indirect By Software & Services: • Behavioral • Proactive The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Smart Home industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.