Learn about the global smart apartments market through The Business Research Company, which provides information on smart apartments market size, smart apartments market drivers and restraints, smart apartments market players, the COVID-19 impact on the smart apartments market, and more.

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The global smart apartments market size is expected to grow from $2.29 billion in 2021 to $2.67 billion in 2022 at a compound annual growth rate (CAGR) of 16.4%. The growth in the smart apartments market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart apartments market is expected to reach $4.71 billion in 2026 at a CAGR of 15.3%.

The increased use of IoT (Internet of Things) devices by people in every aspect of their daily routine is expected to drive innovation in smart apartments manufacturing, thus driving the market during the forecast period.

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The smart apartments market consists of sales of smart apartments and related services. Smart apartments have connectivity to smart amenities such as smart lights, smart locks, integrated services like home cleaning within an apartment. The smart apartment comprises smart devices such as smart locks, smart thermostats, smart lights, smart TVs, blinds, cameras and kitchen appliances. A smart apartment also involves the use of technology that can be reprogrammed frequently based on the resident’s lease agreements.

Global Smart Apartments Market Segments Include:
By Product: Building Management System (BMS), Heating, Ventilating, And Air Conditioning (HVAC), Lighting Control, Security And Access Control, Emergency Alarm And Evacuation System, Audio And Visual Effects

By Application: Residential, Hotel, Other

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the smart apartments market in 2021.

The concept of using an Apartment as a Service (AaaS) is the latest trend driving the smart apartments market. In the apartment as a service concept, fully furnished smart apartments are rented for very short to long periods of stays. It helps to offer a cost-effective solution for tenants to live in a smart apartment. Using apartment as a service enables the rental operators to streamline their operations and costs thus enhancing the resident’s experience and discovering new revenue streams for the owner.

TBRC’s smart apartments market report covers:

Major Market Players: Johnson Controls, ABB Ltd., Siemens AG, Honeywell International Inc., Hitachi, IBM, Schneider Electric, Hewlett-Packard, TYCO International, Siemens, Legrand SA.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Smart Apartments Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides smart apartments market overviews, analyses and forecasts market size, share, smart apartments market players, smart apartments market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s smart apartments market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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