Smart Home Market to Grow by USD 255.2 Billion

Technavio has announced its latest market research report titled Global Smart Home Market 2025-2029

NEW YORK, Jan. 30, 2025 /PRNewswire/ — Report with market evolution powered by AI – The global smart home market size is estimated to grow by USD 255.2 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of almost 23.5%  during the forecast period. Growing consumer interest in home automation is driving market growth, with a trend towards rising number of strategic partnerships and alliances. However, increase in issues related to interoperability  poses a challenge. Key market players include ABB Ltd., Allegion Public Ltd. Co., Amazon.com Inc., Apple Inc., ASSA ABLOY AB, Carrier Global Corp., Comcast Corp., Google LLC, Honeywell International Inc., Hubbell Inc., Johnson Controls, Legrand SA, LG Corp., Lutron Electronics Co. Inc., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schneider Electric SE, Snap One LLC, and Vivint Inc..