The Residential IoT Devices Market is expected to register a CAGR of 22.3% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Component [Hardware, Software, Services(Professional Services,Managed Services)]; Device Type (Smart Meters, Smart Appliances, Smart Lighting, Smart Home Gateways, Smart Thermostats, Others); Geography (North America, Europe, Asia-Pacific, Middle East & Africa, South and Central America).
The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
The report Residential IoT Devices Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Residential IoT Devices Market Segmentation
Component- Hardware
- Software
- Services
- Smart Meters
- Smart Appliances
- Smart Lighting
- Smart Home Gateways
- Smart Thermostats
- Others
Strategic Insights
Residential IoT Devices Market Growth Drivers- Increasing Demand for Smart Home Solutions: Growing consumer interest in smart home technologies is one of the major driving forces behind the residential IoT devices market. Convenience, security, and energy efficiency at home have been fueling consumer demand for smart home solutions. Smart thermostats, lighting systems, and security cameras are fast becoming integrated components of modern homes. This is fueled by the demand for better home environment management and the capability to remotely control devices via smartphones and voice assistants, which has positively influenced the rising uptake of IoT in residential applications.
- Advancements in Connectivity Technologies: The advancements in connectivity technologies such as Wi-Fi 6, Zigbee, and Z-Wave are equipping residential IoT devices. All these technologies enable equipment to work in a harmonious manner, ensuring greater functionality and usability on behalf of users. Better connectivity integrates more than one device into the smart home environment, and thus makes better management of the house for consumers. Reliability and ubiquity come with an expectation of increased penetration by IoT devices.
- Increased Adoption of Voice-Activated Devices: It is increasingly adopted, because of the growing trend on virtual assistants like Amazon Alexa, Google Assistant, and Apple Siri. Devices like these offer an added advantage of convenience and usability because they allow the user to manipulate their smart home systems through voice commands. The increased demand of voice-activated IoT devices is also due to rapid development in speech recognition technology; soon, this will increase as people become accustomed to voice commands every day.
- Interoperability and Standardization: As the number of IoT devices in residential settings grows, interoperability between different devices and platforms is becoming a key trend. Consumers want devices from different manufacturers to work together seamlessly, enabling a cohesive smart home experience. Companies are focusing on developing IoT devices that adhere to common standards and protocols, such as Zigbee, Z-Wave, and Matter (formerly Project Connected Home over IP). The standardization of IoT systems enables devices from various manufacturers to communicate with one another, enhancing user experience and driving further adoption of IoT technologies in homes.
- More attention on energy efficiency and sustainability: With soaring costs of energy and growing environmental issues, the need for energy efficiency and sustainability in residential areas is the highest it has ever been. IoT devices such as smart meters and energy management systems enable customers to track and then optimize their energy consumption. The devices offer real-time data and insights to the user so that they can make better decisions in reference to current energy consumption levels, thereby saving them money while reducing carbon footprint. This technology has therefore sparked a demand for home IoT solutions that support sustainable living.
- Integration with Artificial Intelligence (AI): Huge scope for innovation and functional enhancement exists with AI in residential IoT devices. Through AI, devices can learn preferences of the user, automate routines, and provide personalized recommendations for enhanced user experience. In a scenario where smart and intuitive home solutions are in demand by consumers, companies can separate themselves from competition with AI-based IoT offerings.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Residential IoT Devices Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Residential IoT Devices Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Increased Adoption of Voice-Activated Devices is anticipated to play a significant role in the global Residential IoT Devices Market in the coming years
Increasing Demand for Smart Home Solutions and Advancements in Connectivity Technologies are the major factors driving the Residential IoT Devices Market
The Residential IoT Devices Market is estimated to witness a CAGR of 22.3% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Residential IoT Devices Market - By Component
1.3.2 Residential IoT Devices Market - By Device Type
1.3.3 Residential IoT Devices Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RESIDENTIAL IOT DEVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. RESIDENTIAL IOT DEVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. RESIDENTIAL IOT DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. RESIDENTIAL IOT DEVICES - GLOBAL MARKET OVERVIEW
6.2. RESIDENTIAL IOT DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RESIDENTIAL IOT DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
7.5.3. Professional Services Market
7.5.3.1. Overview
7.5.3.2. Professional Services Market Forecast and Analysis
7.5.4. Managed Services Market
7.5.4.1. Overview
7.5.4.2. Managed Services Market Forecast and Analysis
8. RESIDENTIAL IOT DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - DEVICE TYPE
8.1. OVERVIEW
8.2. DEVICE TYPE MARKET FORECASTS AND ANALYSIS
8.3. SMART METERS
8.3.1. Overview
8.3.2. Smart Meters Market Forecast and Analysis
8.4. SMART APPLIANCES
8.4.1. Overview
8.4.2. Smart Appliances Market Forecast and Analysis
8.5. SMART LIGHTING
8.5.1. Overview
8.5.2. Smart Lighting Market Forecast and Analysis
8.6. SMART HOME GATEWAYS
8.6.1. Overview
8.6.2. Smart Home Gateways Market Forecast and Analysis
8.7. SMART THERMOSTATS
8.7.1. Overview
8.7.2. Smart Thermostats Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. RESIDENTIAL IOT DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Residential IoT Devices Market Overview
9.1.2 North America Residential IoT Devices Market Forecasts and Analysis
9.1.3 North America Residential IoT Devices Market Forecasts and Analysis - By Component
9.1.4 North America Residential IoT Devices Market Forecasts and Analysis - By Device Type
9.1.5 North America Residential IoT Devices Market Forecasts and Analysis - By Countries
9.1.5.1 United States Residential IoT Devices Market
9.1.5.1.1 United States Residential IoT Devices Market by Component
9.1.5.1.2 United States Residential IoT Devices Market by Device Type
9.1.5.2 Canada Residential IoT Devices Market
9.1.5.2.1 Canada Residential IoT Devices Market by Component
9.1.5.2.2 Canada Residential IoT Devices Market by Device Type
9.1.5.3 Mexico Residential IoT Devices Market
9.1.5.3.1 Mexico Residential IoT Devices Market by Component
9.1.5.3.2 Mexico Residential IoT Devices Market by Device Type
9.2. EUROPE
9.2.1 Europe Residential IoT Devices Market Overview
9.2.2 Europe Residential IoT Devices Market Forecasts and Analysis
9.2.3 Europe Residential IoT Devices Market Forecasts and Analysis - By Component
9.2.4 Europe Residential IoT Devices Market Forecasts and Analysis - By Device Type
9.2.5 Europe Residential IoT Devices Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Residential IoT Devices Market
9.2.5.1.1 Germany Residential IoT Devices Market by Component
9.2.5.1.2 Germany Residential IoT Devices Market by Device Type
9.2.5.2 France Residential IoT Devices Market
9.2.5.2.1 France Residential IoT Devices Market by Component
9.2.5.2.2 France Residential IoT Devices Market by Device Type
9.2.5.3 Italy Residential IoT Devices Market
9.2.5.3.1 Italy Residential IoT Devices Market by Component
9.2.5.3.2 Italy Residential IoT Devices Market by Device Type
9.2.5.4 United Kingdom Residential IoT Devices Market
9.2.5.4.1 United Kingdom Residential IoT Devices Market by Component
9.2.5.4.2 United Kingdom Residential IoT Devices Market by Device Type
9.2.5.5 Russia Residential IoT Devices Market
9.2.5.5.1 Russia Residential IoT Devices Market by Component
9.2.5.5.2 Russia Residential IoT Devices Market by Device Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Residential IoT Devices Market Overview
9.3.2 Asia-Pacific Residential IoT Devices Market Forecasts and Analysis
9.3.3 Asia-Pacific Residential IoT Devices Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific Residential IoT Devices Market Forecasts and Analysis - By Device Type
9.3.5 Asia-Pacific Residential IoT Devices Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Residential IoT Devices Market
9.3.5.1.1 Australia Residential IoT Devices Market by Component
9.3.5.1.2 Australia Residential IoT Devices Market by Device Type
9.3.5.2 China Residential IoT Devices Market
9.3.5.2.1 China Residential IoT Devices Market by Component
9.3.5.2.2 China Residential IoT Devices Market by Device Type
9.3.5.3 India Residential IoT Devices Market
9.3.5.3.1 India Residential IoT Devices Market by Component
9.3.5.3.2 India Residential IoT Devices Market by Device Type
9.3.5.4 Japan Residential IoT Devices Market
9.3.5.4.1 Japan Residential IoT Devices Market by Component
9.3.5.4.2 Japan Residential IoT Devices Market by Device Type
9.3.5.5 South Korea Residential IoT Devices Market
9.3.5.5.1 South Korea Residential IoT Devices Market by Component
9.3.5.5.2 South Korea Residential IoT Devices Market by Device Type
9.3.5.6 Rest of Asia-Pacific Residential IoT Devices Market
9.3.5.6.1 Rest of Asia-Pacific Residential IoT Devices Market by Component
9.3.5.6.2 Rest of Asia-Pacific Residential IoT Devices Market by Device Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Residential IoT Devices Market Overview
9.4.2 Middle East and Africa Residential IoT Devices Market Forecasts and Analysis
9.4.3 Middle East and Africa Residential IoT Devices Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa Residential IoT Devices Market Forecasts and Analysis - By Device Type
9.4.5 Middle East and Africa Residential IoT Devices Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Residential IoT Devices Market
9.4.5.1.1 South Africa Residential IoT Devices Market by Component
9.4.5.1.2 South Africa Residential IoT Devices Market by Device Type
9.4.5.2 Saudi Arabia Residential IoT Devices Market
9.4.5.2.1 Saudi Arabia Residential IoT Devices Market by Component
9.4.5.2.2 Saudi Arabia Residential IoT Devices Market by Device Type
9.4.5.3 U.A.E Residential IoT Devices Market
9.4.5.3.1 U.A.E Residential IoT Devices Market by Component
9.4.5.3.2 U.A.E Residential IoT Devices Market by Device Type
9.4.5.4 Rest of Middle East and Africa Residential IoT Devices Market
9.4.5.4.1 Rest of Middle East and Africa Residential IoT Devices Market by Component
9.4.5.4.2 Rest of Middle East and Africa Residential IoT Devices Market by Device Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Residential IoT Devices Market Overview
9.5.2 South and Central America Residential IoT Devices Market Forecasts and Analysis
9.5.3 South and Central America Residential IoT Devices Market Forecasts and Analysis - By Component
9.5.4 South and Central America Residential IoT Devices Market Forecasts and Analysis - By Device Type
9.5.5 South and Central America Residential IoT Devices Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Residential IoT Devices Market
9.5.5.1.1 Brazil Residential IoT Devices Market by Component
9.5.5.1.2 Brazil Residential IoT Devices Market by Device Type
9.5.5.2 Argentina Residential IoT Devices Market
9.5.5.2.1 Argentina Residential IoT Devices Market by Component
9.5.5.2.2 Argentina Residential IoT Devices Market by Device Type
9.5.5.3 Rest of South and Central America Residential IoT Devices Market
9.5.5.3.1 Rest of South and Central America Residential IoT Devices Market by Component
9.5.5.3.2 Rest of South and Central America Residential IoT Devices Market by Device Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. RESIDENTIAL IOT DEVICES MARKET, KEY COMPANY PROFILES
11.1. AMAZON.COM, INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BOSCH.IO GMBH (ROBERT BOSCH GMBH)
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ECOBEE
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GOOGLE, LLC
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. HONEYWELL INTERNATIONAL INC.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. LG ELECTRONICS
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. QUALCOMM TECHNOLOGIES, INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. RADIO THERMOSTAT COMPANY OF AMERICA
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SAMSUNG
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SIGNIFY HOLDING
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Amazon.com, Inc.
2.Bosch.IO GmbH (Robert Bosch GmbH)
3.ecobee
4.Google, LLC
5.Honeywell International Inc.
6.LG Electronics
7.Qualcomm Technologies, Inc.
8.Radio Thermostat Company of America
9.Samsung
10.Signify Holding
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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