The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increasing number of connected homes and the growing implementation of smart home appliances, including speakers, home healthcare products, lightning systems, smart kitchens, smart furniture, and HVAC control solutions are expected to drive innovation in single family smart homes manufacturing, thus driving the market during the forecast period.

The global single family smart homes market is expected to grow from $83.78 billion in 2022 to $99.14 billion in 2023 at a compound annual growth rate (CAGR) of 18.3%. The global single-family smart homes market size is expected to grow to $191.83 billion in 2027 at a CAGR of 17.9%.

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Global Single Family Smart Homes Market Segments Include:

• By Product: Smart Lighting, Entertainment, Smart Appliances, Other Products
• By Technology: Wi-Fi, Bluetooth, GSM/GPRS, RFID, Other Technologies
• By Software and Service: Proactive, Behavioural
• 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 global single family smart homes market in 2021.

Major Market Players in the single family smart homes market include  Lennar Corporation, Meritage Homes Corporation, Metricon, Porter Davis, Henley, Carlisle, Elan Homes (Nortek Security & Control.

Technological advancements related to the internet of things (IoT) and smart home devices are a major trend in the industry. According to a Forbes, US-based business magazine, the number of cellular IoT connections is expected to reach 3.5 billion in the year 2023. Similarly, in 2020, the number of connected IoT devices used was 11.3 billion. According to IoT Analytics, the global number of linked IoT devices will reach 27 billion by 2025. The newly launched smart speakers by Google Assistant and Amazon Alexa are shaping the growth of smart devices. For instance, in September 2021, Amazon, an American e-commerce company, launched a new home security and smart home devices including smart doorbells and smart thermostats. Therefore, technological advancement in IoT and smart home devices is expected to remain a key trend and boost the revenue for the single-family smart home market.

The Single Family Smart Homes Global Market Report 2023  provides a single family smart homes market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032).  The single family smart homes market forecast analyzes single family smart homes market size, single family smart homes market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Single-family smart homes are futuristic single-family buildings equipped with advanced electronics and wireless devices. The smart home system requires a web portal or smartphone application to interact with the automated system as a user interface.

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