The global smart home market size is expected to grow from USD 78.3 billion in 2020 to USD 135.3 billion by 2025, at a CAGR of 11.6%.

The growth of the smart home industry is driven by various factors, such as the increasing number of internet users, and the growing adoption of smart devices, rising disposable income of people in developing economies.

Moreover, the rising importance of home monitoring in remote locations, increasing need for energy-saving and low carbon emission-oriented solutions, the rapid proliferation of smartphones and smart gadgets, expansion of smart home product portfolio by a large number of players, growing concern about safety, security, and convenience among the general population will drive growth.