Smart Home Market Research Report
Smart Home Market GMI Research forecasts that the increasing business potential of AI-enabled smart speakers will lead the market to grow at a compound annual growth rate (CAGR) of 11.6% during the forecast period 2019-2027. According to the smart home market forecast, the market incurred a total revenue of USD 69 billion in 2019 and is predicted to touch USD 166 billion in 2027. Smart Home is a convenient home setup that is fully equipped with lighting, heating, and electronic devices that can be easily controlled via any internet-connected place in the world with the help of smartphone or other networked device. Some of the smart appliances that are used in the home includes Smart locking systems, Smart TVs, Smart security cameras, Smart Entertainment systems, and other systems. The significant factors responsible for the growth of the smart home market size includes the accelerating adoption of smart devices among the end-users, followed by the strong demand for real time h