Smart Home Market: Overview by Increasing Demands and Sales 2023 to 2028
The global smart home market size is valued at USD 101.7 Billion in 2023 and is anticipated to be USD 163.7 Billion by 2028; growing at a CAGR of 10.0% from 2023 to 2028. The key factors contributing to the growth of the smart home market share include rising number of internet users and the increasing adoption of smart devices. Furthermore, the growth is being fueled by the rise in disposable income in developing economies. Applications Across Smart Homes Market: Home Automation Systems: Smart homes are equipped with automation systems that control lighting, heating, ventilation, air conditioning (HVAC), and security. These systems offer convenience and energy efficiency, contributing to the overall appeal of smart living. Connected Entertainment: Smart TVs, audio systems, and streaming devices create a seamless entertainment experience. Integration with voice-activated assistants enhances user control, providing a personalized and immersive entertainment environment. Smart Security