37+ Smart Home Statistics and Facts (2023 Updated Data)
Leaving your door open while you go out is not a good practice. You could return to the house and see some of your belongings stolen. Some other people have experienced the tragedy of returning home to a burnt-down place. As a result, they're now very cautious. Before leaving their homes, many people double-check if they locked their doors or turned off their stoves.
These practices are all okay, but there are ways to handle them easily by owning a smart home. The number of smart homes worldwide is estimated to be 300 million. A smart home automatically works some of those things for you. However, there are more things to know about smart homes besides the essential help they render. This article has key smart home statistics in 2023 to tell you how far it has gone, the number of people using it, and its prospects in the future. Read on to learn more.
- Smart Thermostats have grown a great deal in the smart device industry.
- In 2020, 46% of Americans said they spent more on home technology.
- During the pandemic, spending on smart TVs reached 55%.
- During the pandemic, security systems grew by 23%.
- Experts expect the smart home technology market to grow to about $138 billion in 2026.
- There were 22.5 million smart homes in Europe in 2017.
- Analysts say 20% of households worldwide will own smart home technologies by 2025.
- The biggest smart home automation market share belongs to the US.
- Experts say families will spend $19.4 billion on security systems.
- In 2022, the worth of the smart home market size was $80.21 billion, and in the smart device industry, Amazon holds the largest market share.
- Experts have predicted that the smart home tech market size will reach $195.73 in 2030.
- The United States produced the highest global smart home automation market revenue 2020.
- With an innovative security system, you can save up to 20% on your insurance premiums.
- More than 54% of house owners believe installing smart home techs makes them sell faster.
- Investing in an innovative HVAC system can save 50% on energy usage.
- Over half of the smart home tech users say they are saving time.
- Millennials are more likely to pay 20% or more for smart home technologies.
- In the US, 23% of broadband households have three or more smart gadgets.
- Twice every day or more, people use two out of every five types of smart home devices.
- 31% of households with broadband internet also own smart speakers with voice assistants.
- Over 50% of the households in the US have at least one smart home device.
- More men are interested in smart home devices than women.
- 8.2 million baby boomers had smart speakers in 2018.
- About 35% of US smart home tech users who also used broadband complained about the data security issue.
- About 40.8% of smart homes worldwide have one or more amenable connected devices that can risk the home.
- Printers are the most amenable connected devices.
- There is a prediction that 5G technology will revolutionize the Internet of Things services.
- Experts have predicted that smart home techs will become smarter over time.
- About 56% of adults in the US are comfortable with smart home devices.
- Some people who trust smart home techs think it has opposite extremes.
- Smart homeowners will spend about $35.6 billion on smart security systems in 2024.
- In smart home tech, smart kitchen techs are becoming more popular.
- 44% of smart homes have connected entertainment systems.
- About 63% of people from a survey want smart security systems in their smart homes.
- Smart security systems achieved 22.6% of the smart home tech market share 2023.
- Analysts predict intelligent home energy monitoring devices will generate about $12.4 billion in three years.
In 2015, a few households in the US appreciated the smart home tech experience and were willing to move to a smart home.The better part of the smart home evolution started in 2019 through 2020 during the pandemic. The insecurity was on the high side. Many people wanted to protect what they had left of their property and lives.During the pandemic, the number increased, and analysts predicted it would reach 54% in 2023. This rate has yet to be actualized, but it is near.
1. How Many Smart Homes Are There in 2023?There were 258.54 million smart homes worldwide in 2021. This number has increased by a few million since then. In 2023, there are over 300 million smart homes worldwide. Also, 60.4 million active households in the US use smart home gadgets.
Home Automation Device Statistics for 2023
Smart thermostats have, over the years, beaten their previous growth rate. In 2 years, it has bought more than it had in the years before.US citizens can save about 15% of their cooling and 12% of their heating bills with this device.
3. In 2020, 46% of Americans Said They Spent More on Home Technology.Although smart home appliances have existed long before 2020, this was the year some Americans spent more on them. The number was close to half at 46%.
4. During the Pandemic, Spending on Smart TVs Reached 55%.In 2020, when the pandemic was on, most Americans bought smart TVs. About 55% of them probably got bored of certain TV operating routines and decided to try smart TV.The smart TV market was worth about a few million dollars then. However, the pandemic left a long-lasting effect on the market. It is predicted to reach about $2.55 billion in 2030.
5. During the Pandemic, Security Systems Grew by 23%.Smart security systems are one of the most sought-after smart devices currently. It wasn't so until during the pandemic. More people wanted to protect their lives and properties while they stayed safe inside. Since then, the growth has been epic. Experts say it will grow larger with the awareness it has created in the coming years.
Smart Technology Market on the World Stage
The global smart home technology market has witnessed fast growth over the years. In 2021, after the pandemic, the market worth was about $85.6 billion. This was its all-time high for the year, and the progress was due to the effect of the pandemic. The market worth has increased since then and plans to grow by 2026. Experts predict the rise in the smart home technology global market to hit a peak sum of $138 billion in 2026.
7. There Were 22.5 Million Smart Homes in Europe in 2017.Europe has always been a place where people love technology. So, it is no surprise that this country had about 22.5 million smart homes in 2017.In 2022, the number of smart homes in Europe will increase to 84 million, and the further increment is promising. Although France is leading the global smart home technologies market, Europe has a good spot at the top.
8. Analysts Say 20% of Households Worldwide Will Own Smart Home Technologies by 2025.Even though many individuals are aware of smart home technology, many still don't use it. Currently, less than 10% of households have smart home technology. However, it is anticipated to increase to 20% by 2025. By 2025, more than 1.5 billion households will utilize smart home technologies. Despite being a long shot, the projection has a chance because of how well-liked the current market is.
9. The US Owns the Biggest Smart Home Technology Market Shares.Even though hardly everyone in the US uses it, broadband internet is nevertheless widely used. 23% of the numerous homes with broadband internet have more than three smart home appliances. With broadband, connecting to smart devices is quicker and simpler. One of the reasons you will typically find both together is because of this.
Smart Home Statistics of the Automation Market
Smart security systems are among the world's most needed smart home techs. The market worth of smart security systems will rapidly increase in a few years. Market analysts have predicted that households will spend $19.4 billion on this tech in years to come. This excludes firms that spend on it, too.
11. In 2022, the Smart Home Market Size Worth was $80.21 Billion.In 2022, the worth of the smart home was about $80.21 billion. The market size is a lot weightier than most industries in the world and is rapidly increasing. 2023, it will be over $90 billion and grow even more in a few years.
12. Amazon Holds the Largest Market Share in the Smart Device Industry.There are many shopping sites and companies in the world. A few of them have some smart home techs on display, but the highest share belongs to Amazon. Even if Amazon's share dropped to 69.7% from 72.9% in 2019, it still holds the highest percentage. Google follows it, with 31.3% of the smart home market share.
13. They Have Predicted the Smart Home Tech Market Size to Value $195.73 in 2030.The smart home market is doing well, even if not up to 10% of the world population has it. Experts in this market have predicted a humongous growth in the work in 2030. They said it would reach $195.73 billion in 2030 and cross that benchmark a few years later.
14. The United States Produced the Highest Global Smart Home Automation Market Revenue in 2020.The United States has the biggest share in the smart home tech industry. This means they produce the highest revenue from the market, more than every other nation globally. The US market's revenue is about $27.6 billion, followed by China with $20 billion. This revenue amount data is from 2020. From 2021 until date, these countries have seen more growth in revenue. However, the US is still the highest.
Advantages of Smart Home-Connected Devices
People with smart security systems have lower insurance rates, and those without are made to pay a fixed amount. The reduction rate of your insurance if you have a smart home appliance will be about 20% or more. Now, you can save money and still stay safe with your properties.
16. More Than 54% of House Owners Believe Installing Smart Home Techs Makes Them Sell Faster.Everyone wants smart home technologies in their homes because they are excellent. Only a select few individuals will relish the burden of installing these technologies in their houses, though. So they acquire homes that already have smart home technology installed and working. According to research, 81% of Americans expressed interest in purchasing smart homes.
17. Investing in a Smart HVAC System Can Save 50% on Energy Usage.You can control smart home techs like Smart TVs, smart lighting, smart thermostats, and others that use electricity. A function in them allows you to manage them in a way that saves electricity usage in your home. You can save 50% of your energy usage, saving money, too. The percentage of energy usage you can save with this depends on the number of electrical appliances you have.
18. Over Half of the Smart Home Tech Users Say They Are Saving Time.According to a survey, nearly 60% of people who use smart home technology claim that the gadgets save them time. You can utilize smart home technology from anywhere; you don't have to approach the devices directly to use them. Even though security is the primary benefit of smart home technology, some individuals adore its simplicity.
2023 Demographics of Smart Home Technology
Most millennials lack the physical strength to defend themselves or their possessions. Because smart home security technology helps them feel secure, they frequently invest more in it. Thanks to smart home technology, they can control things while sleeping. For this reason, they will spend more to ensure that they have smart houses.
20. In the US, 23% of Broadband Households Have Three or More Smart Home Devices.Even though hardly everyone in the US uses it, broadband internet is nevertheless widely used. 23% of the homes with broadband internet have more than three smart home appliances. With broadband, connecting to smart devices is quicker and simpler. One of the reasons you will typically find both together is this.
21. Twice Every Day or More, People Use Two Out of Every Five Types of Smart Home Devices.It is more surprising that more people have a smart home device and don't use it for whatever reason. These devices are made to withstand the test of time and carry out their functions regardless of how many times you use them. But out of every 5 types of smart home devices, people only use two daily, leaving the others to rest. This practice is not right.
22. 31% of Households With Broadband Internet Also Hold Smart Speakers With Voice Assistants.Since broadband internet makes running smart home devices easier, people use smart speakers with voice assistants. This makes it easy to control the speakers with your voice. The smooth connection of broadband allows the voice assistant to pick up your voice fast and deliver your request.
23. Over 50% of the Households in the US Have At Least One Smart Home Device.The United States is currently leading the smart home tech market in the world. Even the families in the US that use at least one smart home device is over 50%, which is more than the number in other countries globally.
24. More Men Are Interested in Smart Home Devices Than Women.From research, men are more likely to own smart home devices than women. Whether for security, to make life easy and enjoyable, or for other things, men are the leading owners of smart home techs.82% of men own smart home devices, and 49% of women do. Mostly, women like this tech, but they usually don't buy it. Records show that about 71% of men plan to update their smart home techs or buy more, while only 34% of women do.
25. 8.2 Million Baby Boomers Ad Smart Speakers in 2018.Smart speakers are one of the most commonly used smart home appliances. It is easy to own, install, and use. It is also not as expensive as many other smart home techs that cost a fortune. Records show that over 8.2 million baby boomers worldwide owned smart speakers in 2018. This number has increased and will hike again in the coming years.
The Risks of Smart Home Technologies
Reports have filled the media and the internet that people's security and privacy are breached without permission. These people facing these issues are smart home tech users who run their devices alongside broadband. Over the years, the level of this privacy breach in the US has hiked.
27. About 40.8% of Smart Homes Worldwide Have One or More amenable connected devices that can risk the home.Smart home appliances are not self-destructive; other connected devices can alter their functions. The entire house is at risk when the parts change, so care needs to be taken. The house's security could be breached, leaving it open to anyone. Such amenable devices are in the places of 40.8% of smart home device owners worldwide.
28. Printers are the most amenable connected devices.Many connected devices are smart homes, but printers are the most common and even more dangerous.Aside from printers, other devices can make your smart home appliances vulnerable to attacks-devices like storage devices, security cameras, and others. The report has shown that IoT devices stand higher hacking risks.
More Surprising Smart Home Statistics and Facts About Technologies
Smart homes are of different grades. Some have smart home techs to help you live with ease. Others just have the techs at spots where necessary, like the door for security, the speakers for music, and a few more. So, the pricing is different. The pricing range also depends on the size of the house, too. You can make your home smart from $970 to $3,310. The extra cash won't be big if it gets more expensive and manageable.
30. There is a Prediction That 5G Technology Will Revolutionize the Services of the Internet of Things.The Internet of Things runs the inner work of smart home tech. Almost everything that affects this IoT also affects the smart home's effectiveness. The smart home tech will not exist without the IoT. With this, it is safe to say that the prediction of the 5G revolutionization of IoT will greatly affect smart homes. The smart home tech market will grow faster because more people will sign into the 5G network in the coming months and years.
31. Experts Have Predicted That Smart Home Techs Will Become Smarter.With the rate at which smart home tech is going, there is no doubt that they will become smarter as the years go by. From inception, a series of upgrades have been tested and applied to these devices. Also, with the implementation of AI, smart tech can be even smarter. Although AI uses machine learning for its functions, the future might see the fusion of it in smart homes.
32. About 56% of Adults in the US are Comfortable With Smart Home Devices.When the smart home tech was established, many adults were uncomfortable using it. They also didn't find being around it comfortable. But now, it has grown on many of them, and about 56% of adults are satisfied. This rate will increase even more with time.
33. Some People Who Trust Completely in Smart Home Techs Think it has Opposite Extremes.Although the number of people who trust smart home devices is increasing, some still don't. The latter think big companies and the government use them to monitor people's day-to-day activities and collect their data. Some people trust this tech enough to leave and let them watch over their babies.
More Smart Home Statistics and Facts About the Market
In 2020, smart homeowners worldwide spent about $19 billion on smart home security systems. This amount went for maintenance and to buy new sets to replace or add to the old ones. It has been predicted that this figure will increase in 2024 to about $35.6 billion. Most of this money will go to security cameras and smart locks.
35. Smart Kitchen Techs are Becoming More Popular in Smart Home Tech.Kitchen duties are not the most fun for some people, especially men. With this, many people will patronize the smart kitchen tech to ease the stress in the kitchen. It is gradually getting popular. Smart kitchen devices like smart refrigerators, smart ovens, and others are doing well in the market lately.
36. 44% of Smart Homes Have Connected Entertainment Systems.Smart homes typically include smart entertainment systems. The freedom to intelligently regulate music and other entertainment technology is something that home owners always want.
37. About 63% of People From a Survey Want Smart Security Systems in Their Smart Homes.A smart security system is not present in every smart house. In a survey, some savvy home owners claimed they don't want smart security systems, while 63% said they want. They consider it to be essential.
38. Smart Security Systems Achieved 22.6% of the Smart Home Tech Market Share in 2023.The smart security system has already eclipsed its previous high, and 2023 hasn't even begun. It now controls 22.6% of the smart home technology market. It may take longer until the end of the year.
39. Analysts Predict Intelligent Home Energy Monitoring Devices Will Generate About $12.4 Billion in Three Years.The intelligent home device is working properly across the board. The demand for smart home energy monitoring equipment is also high. People are inquisitive about how much energy they use in their homes. They also want the capacity to control the rate of consumption. The device is expected to generate $12.4 billion in revenue over the next three years.
What is New in the Smart Home Tech World?
Moen has released a new smart home device. It is a water product suite that is linked. Its primary function is to monitor the water in the house. This innovation includes a smart shower, tap, sump pump monitor, water monitor and shutdown and leak detector.
ConclusionSmart home technology is a method to simplify living and save energy and time. People are progressively accepting it over the world, changing their lifestyles for the better. Despite having a global market, the United States welcomes it more than other countries. Over half of all Americans own one or more smart home devices.Furthermore, the United States has the biggest market share for intelligent home technology. Following the United States are China, Europe, and a few more countries.
FAQsWhy is it called a smart home?In smart homes, smart devices have systems that automatically respond to certain controls. These devices do this with the help of ICT and the Internet of Things.
What is the smart home technology?Smart home technologies allow users to operate easily by voice or app. Some obey certain sounds, too, or censors. As long as it is easier to operate than the conventional ones and doesn't require you to operate with your hands manually, it is a smart home device.
What is an example of smart home technology?Smart home technologies include smart TVs, smart lights, and smart security systems that help lock your house even when you are not home. There are a lot more than this on the list.
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