Insight - Services Revenue to Drive $190 Billion Smart Home Market by 2030
Explore our forecast for the smart home market, with global spending expected to grow 7% YoY to over $125B in 2024. See how services like pro-monitoring and predictive maintenance will drive the market to $195B by 2030.
TechInsights expects global spending on smart home devices, services and installation fees to grow 7 percent year-on-year (YoY) to exceed $125 billion in 2024, despite persistent inflationary pressure and a challenging global economic backdrop. Looking further ahead, TechInsights predicts spending on smart home services attached to smart home devices, such as pro-monitoring, paid self-monitoring, predictive maintenance and other subscriptions services to play an essential role in driving the smart home market to approach $195 billion by 2030. This forecast includes detailed projections for smart home segments such as interactive security, remote and whole home control, digital health care, whole home and remote entertainment systems, and smart appliances. This forecast provides 18 separate country and 5 regional breakouts.
