Single-Family Smart Homes Global Market Sees Growth Rate Of 19% Through 2022

11 Jan, 2022

The global single-family smart homes market size is expected to grow from $70.15 billion in 2021 to $83.78 billion in 2022 at a compound annual growth rate (CAGR) of 19.4%. The growth in the single-family smart homes market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The single-family smart homes market is expected to reach $162.87 billion in 2026 at a CAGR of 18.1%.

What is the Global Single-Family Smart Homes Market?

The single-family smart homes market consists of sales of smart appliances and their related services used in single-family homes. Smart homes are futuristic buildings equipped with advanced electronics and wireless devices. The smart home system requires a web portal or smartphone application to interact with the automated system as a user interface. The smart home appliances include smart entertainment, smart lighting, home security and smart appliances, which are controlled by sensors, timers, switches and remote controllers.

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What drives the Global Single-Family Smart Homes Market?

The increasing number of connected homes and growing implementation of smart home appliances including speakers, home healthcare products, lightning systems, smart kitchen, smart furniture, and HVAC control solutions is projected to contribute to the higher demand for single-family smart homes market. According to the smart home statistics 2021, 57% of homes in Britain contain a smart device, and 23% of Britain, i.e., 66.44 million people have a smart item. In addition, in the UK, there are 2.22 million smart homes. Therefore, the increasing implementation of smart home appliances together with a growing number of connected homes across the globe is anticipated to boost the demand for single-family smart homes market over the forecast period.

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Global Single-Family Smart Homes Market Segments
The global single-family smart homes market is segmented:
By Product: Smart Lighting, Entertainment, Smart Appliances, Others
By Technology: Wi-Fi, Bluetooth, GSM/GPRS, RFID, Others
By Software And Service: Proactive, Behavioral
By Geography: The regions covered in the single-family smart homes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia Pacific accounts for the largest share in the global single-family smart homes market.

Single-Family Smart Homes Global Market Report 2022provides market size and growth forecasts for the global single-family smart homes market, global single-family smart homes market share, single-family smart homes market segments and geographies, single-family smart homes market competitive landscape including leading competitors’ revenues, profiles and market shares. The single-family smart homes market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Single-Family Smart Homes Industry Playersinclude Lennar Corporation, Meritage Homes Corporation, Metricon, Porter Davis, Henley, Carlisle, Elan Homes (Nortek Security & Control, LLC), PulteGroup Inc., KB Smart Home, TRI Pointe Group. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.