Smart Home - Asia

  • Asia
  • Revenue in the Smart Home market is projected to reach €56.2bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 12.36%, resulting in a projected market volume of €89.5bn by 2028.
  • Household penetration will be 17.2% in 2024 and is expected to hit 31.4% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to €263.50.
  • A global comparison reveals that most revenue is generated United States (€35,980.0m in 2024).
Comparaison de régions

Analyst Opinion

The Smart Home market in Asia is experiencing significant growth and development, driven by various factors influencing consumer preferences, technological advancements, and local special circumstances.

Customer preferences:
Customers in Asia are increasingly seeking convenience, efficiency, and connectivity in their homes. The rising adoption of smart devices and IoT technologies is driven by the desire for seamless integration and control over various aspects of home management. With the growing middle-class population and urbanization in many Asian countries, there is a greater emphasis on smart solutions that offer security, energy savings, and improved quality of life.

Trends in the market:
In China, the largest market for Smart Home technology in Asia, there is a strong focus on AI-powered devices and systems that can learn and adapt to user behaviors. This trend is fueled by the presence of major tech companies investing heavily in smart home innovation. In Japan, known for its aging population, there is a growing demand for smart home solutions that cater to elderly care and healthcare monitoring. South Korea is seeing a rise in smart appliances and energy management systems as consumers look for ways to reduce electricity consumption and lower utility bills.

Local special circumstances:
One of the key drivers of the Smart Home market in Asia is the rapid urbanization and population density in major cities. This has led to a greater need for efficient use of resources, sustainable living solutions, and innovative technologies to address urban challenges. Additionally, cultural factors play a role in shaping consumer preferences, with emphasis placed on design aesthetics, functionality, and social status associated with owning smart home products.

Underlying macroeconomic factors:
The economic growth and increasing disposable income in many Asian countries have contributed to the expansion of the Smart Home market. As more households have the financial means to invest in smart technologies, the market is expected to continue its upward trajectory. Government initiatives and policies supporting digital infrastructure development and smart city projects also play a significant role in driving the adoption of smart home solutions across the region.


Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

Vue d’ensemble

  • Revenue
  • Key Players
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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