Global Smart home hardware Market is valued at approximately USD 21.81 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 12.7% over the forecast period 2022-2028. Smart home hardware are the appliances that serve as the hub of the smart home system, analyzing and detecting data and communicating wirelessly. It is an electronic gadget that can communicate with other devices and make judgments on command when linked to smart home systems. The smart home hardware is connected to the network, stores information in the cloud, and operates in accordance with the behavior. Televisions, alarm systems, doorbells, speakers, and other appliances are examples of these gadgets and appliances. The expanding popularity of smart home gadgets, as well as the growing necessity of home monitoring systems, are driving the smart home hardware industry. According to the Statista, smart home invasion rate has risen from 9.25 in 2019 to 10.6 in 2020. Furthermore, the growing growth of internet and the increased use of smartphones to operate smart devices remotely are driving market demand. The COVID-19 epidemic boosted the smart home hardware industry. The market has seen a significant increase, since it was primarily employed for remote patient monitoring during the COVID-19 epidemic. However, issues related to security and privacy breaches impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Smart home hardware Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific had a considerable market revenue share. According to the report, China will be the second largest market for smart home hardware by shipping volume in 2020. Smart house hardware is designed with modern technology and is relatively inexpensive, such as smart refrigerators, household appliances, dishwashers, and more resulting in a large demand for the smart home hardware industry. Furthermore, the Asia Pacific region's economic development, expanding urbanization, and large telecom sector have fueled demand for the smart home hardware market.

Major market players included in this report are:

Google LLC

Amazon.Com Inc.

Honeywell Corporation Inc.

Schneider Electric SE

Johnson Control Inc.

ABB Ltd.

Legrand

Panasonic Corporation

Samsung Electronics Co. Ltd.

General Electric Company

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

IoT Hardware for Control & Connectivity Devices

IoT Hardware for Security & Surveillance Equipment

IoT Hardware for Smart Appliances

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Smart home hardware Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors