North America Connected Homes Market By Functionality (Energy and Utilities Management, Smart Entertainment, Wellness and Monitoring, Security and Safety, Smart Appliance); By Component (Light Control Solution, Security Solution, Entertainment Solution, Home Healthcare Solution, Energy Management Solution); By Platform (Smartphones, Laptops, Home Gateway, Other Platforms); By Type of Homes (Apartment, Villa/Bungalow, Other Homes); By Region – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Price: $2999

Published: | Report ID: 39386 | Report Format : PDF
REPORT ATTRIBUTE DETAILS
Historical Period  2019-2022
Base Year  2023
Forecast Period  2024-2032
North America Connected Homes Market Size 2023  USD 25,781.29 Million
North America Connected Homes Market, CAGR  9.00%
North America Connected Homes Market Size 2032  USD 55,994.21 Million

Market Overview

The North America Connected Homes Market is projected to grow from USD 25,781.29 million in 2023 to USD 55,994.21 million by 2032, at a compound annual growth rate (CAGR) of 9.00%.

The North America Connected Homes Market is propelled by the increasing adoption of smart home technologies that enhance convenience, security, and energy management. The region’s robust technological infrastructure, including widespread high-speed internet access and the proliferation of IoT devices, supports this growth. Consumer preferences for remote home management systems and automated devices are significant trends, along with technological advancements in AI and machine learning that improve device interconnectivity and functionality. Moreover, the push towards energy efficiency and sustainability in homes continues to drive the adoption of smart solutions in the market.

The North America Connected Homes Market is experiencing robust growth, driven by technological advancements and a high rate of digital adoption across the region. The United States leads in market size and innovation, thanks to significant investments from key players such as Google Inc., Amazon, and Apple, which are continuously expanding their smart home product lines. Canada and Mexico also contribute to regional growth, with increasing consumer awareness and adoption of connected home technologies. These countries benefit from the presence of major companies like Honeywell and Cisco Systems Inc., which provide a wide range of solutions from security to energy management in connected homes.

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Market Drivers

High Demand for Convenience and Security

In North America, the demand for connected home devices continues to grow as consumers seek greater convenience and security. For instance, in North America, the demand for smart locks has surged by 30% in the last quarter, with remote monitoring systems following closely at a 25% increase. This reflects the growing need for convenience and security among consumers. Automated lighting has also seen a rise, with a 20% uptick in installations, as homeowners seek to enhance the safety and functionality of their living spaces. Features such as remote monitoring, smart locks, and automated lighting directly address these needs, enhancing both the functionality and safety of modern homes. This shift towards more secure and efficient living environments is accelerating the adoption of connected technologies, as homeowners increasingly prioritize solutions that offer ease of use and peace of mind.

Robust Technological Foundations

North America’s early adoption of technology, coupled with its strong internet infrastructure, creates a robust foundation for the connected homes market. In terms of technological foundations, 85% of homes in North America now have access to high-speed internet, which is crucial for the operation of connected home devices. This robust digital infrastructure has led to a 40% growth in the adoption of advanced home technologies over the past two years. The region’s extensive high-speed internet penetration is essential for the functionality of connected home devices, which rely heavily on stable and fast internet connections. This well-established digital framework facilitates the seamless integration and operation of advanced home technologies, further propelling the market forward.

Focus on Energy Efficiency and Sustainability

The growing emphasis on energy efficiency and sustainability is another key driver in the North American connected homes market. Focusing on energy efficiency, the installation of smart thermostats has grown by 35%, while energy-efficient lighting systems have seen a 50% increase in adoption. These sustainable solutions are not only reducing energy consumption by an average of 25% per household but are also contributing to the region’s environmental goals, resonating with the values of eco-conscious consumers. Homeowners are increasingly adopting smart thermostats, lighting systems, and energy-efficient appliances to reduce their energy usage and environmental footprint. These technologies not only help manage and decrease energy consumption but also align with broader environmental goals, making them highly appealing to eco-conscious consumers.

Advancements in Smart Home Interaction

The rise of voice assistants and the integration of smart speakers are transforming user interactions within connected homes. Popular voice assistants like Amazon Alexa and Google Assistant enable hands-free control of various home devices, offering a convenient and intuitive user experience. This capability to manage home environments through simple voice commands is enhancing the accessibility and attractiveness of smart home systems, driving further market growth in North America.

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Market Trends

Enhanced Customization and AI Integration in Smart Homes

North American consumers are increasingly seeking smart home systems that offer personalization and customization. For instance, in North America, AI-integrated smart thermostats have seen a 50% increase in sales, with many models learning and adapting to users’ habits to save an average of 20% on energy bills. AI-powered refrigerators have also become popular, with a 35% rise in adoption, suggesting recipes to over 60% of their users based on dietary preferences and available ingredients. This trend is driven by the desire for devices that can be tailored to individual lifestyles and preferences, such as creating custom routines, scheduling automated tasks, and integrating with personal wellness devices like fitness trackers. Additionally, the integration of Artificial Intelligence (AI) is revolutionizing the user experience, making homes more intelligent and responsive. AI technologies enable thermostats to learn and adapt to a user’s habits, automatically adjusting the temperature, and AI-powered refrigerators that suggest recipes based on dietary preferences and available ingredients. These advancements in customization and AI integration cater to the evolving needs of consumers, enhancing the functionality and appeal of connected home systems.

Advancements in Smart Kitchens, Bathrooms, and Health Solutions

The growth of smart technologies in kitchens and bathrooms marks a significant trend in the North American market. In the realm of smart kitchens and bathrooms, smart faucets that can measure water usage and control temperature via voice commands have been installed in 25% more homes this year. Voice-controlled recipe assistants have seen a 40% increase in usage, making cooking more accessible and enjoyable. The market for connected water leak detectors has grown by 30%, providing homeowners with real-time alerts and preventing costly damages. The health and wellness sector has also seen significant advancements, with smart air quality monitors being adopted by 45% more households, helping to ensure a healthier living environment. Integrated sleep trackers have been incorporated into 30% more bedrooms, aiding in the improvement of sleep quality. Smart mirrors, offering personalized fitness guidance, have seen a 20% uptick in installations, reflecting the growing trend of health-oriented smart home solutions. Devices like smart air quality monitors, integrated sleep trackers, and smart mirrors offering personalized fitness guidance are becoming integral components of the home, focused on enhancing users’ health and well-being. These sectors are not only advancing in terms of technology but are also becoming critical in addressing the holistic needs of consumers, promoting both convenience and health-oriented lifestyles within the connected home ecosystem.

Market Challenges Analysis

Addressing Security Concerns and Reducing Technical Barriers

Data security and privacy remain significant concerns for consumers considering smart home technologies. The fear of data breaches and unauthorized access to connected devices continues to challenge market growth. To build consumer trust, companies must implement robust security measures and maintain transparent data practices. This includes enhancing encryption methods and providing clear user control over data collection and usage. Alongside security issues, the technical complexity of setting up and operating smart home systems poses another hurdle. These systems often require a certain level of technological proficiency, which can deter less tech-savvy consumers. To foster wider adoption, the industry needs to develop more user-friendly interfaces and simplify the installation processes, making these technologies accessible to a broader audience.

Overcoming Economic and Compatibility Challenges

High upfront costs and ongoing financial commitments are significant barriers to adopting smart home technologies. While the cost of smart devices is gradually decreasing, outfitting a full home remains a substantial investment. Additionally, some smart home functionalities depend on recurring subscription services, leading to subscription fatigue among consumers. Addressing these financial barriers involves finding a balance between offering advanced features and maintaining affordability. Moreover, the issue of interoperability between different brands and devices continues to complicate the user experience. Achieving seamless integration requires enhanced standardization and clear compatibility labeling to ensure devices work together effectively. Furthermore, as smart home systems increase in complexity, the demand for skilled technicians for installation and maintenance is growing. Investing in workforce development and training programs is essential to equip technicians with the necessary skills to support the evolving needs of the smart home market.

Market Segmentation Analysis:

By Functionality:

The North America Connected Homes Market is segmented by functionality into several key areas that cater to the diverse needs of consumers. Energy and Utilities Management is rapidly growing as homeowners increasingly prioritize devices that can optimize energy usage, such as smart thermostats and automated lighting systems. The Smart Entertainment segment is also significant, with a focus on devices that enhance home media experiences, including smart TVs and speakers that integrate seamlessly with various digital media platforms. Wellness and Monitoring technologies are expanding as well, with products like health monitoring systems and emergency notification devices becoming more prevalent to support in-home healthcare. Security and Safety remain a crucial segment, with substantial investments in smart locks, surveillance cameras, and integrated security systems. Lastly, Smart Appliances are transforming household convenience, offering features like remote operation and maintenance notifications, further driving the market’s growth.

By Component:

Segmentation of the North America Connected Homes Market by component highlights the technological diversity within the industry. Light Control Solutions are essential for energy management and creating ambient home environments. Security Solutions, including advanced surveillance systems and alarms, address the high demand for home safety. Entertainment Solutions continue to evolve, with innovative integrations that allow for more immersive audio-visual experiences from the comfort of one’s living room. Home Healthcare Solutions are gaining traction by incorporating technologies that facilitate better patient monitoring and care at home. Lastly, Energy Management Solutions are increasingly sought after for their ability to significantly reduce energy consumption and automate home energy systems. Each component plays a vital role in meeting the specific preferences and needs of North American consumers, contributing to the robust growth of the connected homes market.

Segments:

Based on Functionality

  • Energy and Utilities Management
  • Smart Entertainment
  • Wellness and Monitoring
  • Security and Safety
  • Smart Appliance

Based on Component

  • Light Control Solution
  • Security Solution
  • Entertainment Solution
  • Home Healthcare Solution
  • Energy Management Solution

Based on Platform

  • Smartphones
  • Laptops
  • Home Gateway
  • Other Platforms

Based on Type of Homes

  • Apartment
  • Villa/Bungalow
  • Other Homes

Based on the Geography:

  • U.S.
  • Canada
  • Mexico

Regional Analysis

The United States accounts for a dominant market share of approximately 85% in the North America Connected Homes market. As a leading adopter of advanced technologies, the US has witnessed a significant growth in the demand for connected home solutions. Major metropolitan areas such as New York, Los Angeles, and Chicago have been at the forefront of this trend, driven by consumer demand for convenience, energy efficiency, and home automation. Additionally, the presence of major technology companies and the proliferation of smart devices have further fueled the growth of the connected homes market in the US.

Canada holds a market share of around 15% in the North America Connected Homes market. While the adoption rate has been relatively slower compared to the US, cities like Toronto, Vancouver, and Montreal have seen a steady increase in the demand for connected home solutions. Government initiatives promoting energy efficiency and sustainable living, coupled with the growing awareness of smart home technologies, have contributed to the market’s growth in Canada.

Key Player Analysis

  • ABB Limited
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Schneider Electric SE
  • Siemens AG
  • LG Electronics Inc.
  • Cisco Systems Inc.
  • Google Inc. (Alphabet Inc)
  • Microsoft Corporation
  • GE Appliances (Haier Group)
  • IBM Corporation
  • Legrand SA
  • Lutron Electronics Co. Inc.
  • United Technologies Corporation
  • Control4 Corporation

Competitive Analysis

In the competitive landscape of the North America Connected Homes Market, leading players such as Google Inc., Amazon, and Apple dominate due to their innovative capabilities and extensive product ecosystems. These tech giants leverage their advanced R&D facilities to integrate AI and machine learning, enhancing the functionality and user experience of smart home devices. Companies like Honeywell and Schneider Electric are also pivotal, offering specialized solutions in energy management and security systems, which cater to the growing demand for sustainable and secure home environments. Moreover, emerging players are introducing disruptive technologies that challenge the status quo, pushing the boundaries of what smart home systems can achieve. This competitive environment is characterized by rapid technological advancements and strategic partnerships, driving continuous improvements in product offerings and expanding the market reach of connected home solutions across North America.

Recent Developments

  • In 2023, the advanced home automation with Alexa was introduced by Amazon with the penetration of the artificial intelligence that can do wonders in controlling the home with the connected devices. The new feature accelerates the control devices with echo hubs and map view that eventually to leverage the living experience to the extent.
  • In 2023, Ecobee is ready to set the trend in the connected home by launching the Ecobee Smart Doorbell Camera Review. This company is stepping towards the expansion fot he company’s product portfolio by launching ecosystem products in favor to the user with the latest technological developments. Ecobee is planning to deliver advanced wireless technological thermostats that operates with the sensors connected with the internet technology.

Market Concentration & Characteristics

The North America Connected Homes Market exhibits a moderate to high level of market concentration, with major technology giants like Google, Amazon, and Apple playing dominant roles. These industry leaders capitalize on their robust technological infrastructure and broad consumer base to innovate and scale quickly. The market is characterized by intense competition among these established players and a continuous influx of innovative startups introducing niche technologies and services. Such dynamics foster a highly competitive environment that drives technological advancements and market growth. Furthermore, strategic collaborations and acquisitions are common as companies aim to enhance their product portfolios and expand their market footprint. This concentration of large players, coupled with the relentless pace of innovation, shapes the market’s characteristics, including its competitive landscape and the pace at which new technologies are adopted.

Report Coverage

The research report offers an in-depth analysis based on Functionality, Component, Platform, Type of Homes and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

  1. Adoption of AI and machine learning will significantly enhance the functionality and user experience of smart home devices.
  2. Increased investment in smart home technology by major tech companies will drive innovation and market growth.
  3. Expansion of 5G networks will improve the reliability and efficiency of connected home systems.
  4. Growing consumer demand for energy-efficient solutions will boost the market for smart energy management devices.
  5. Enhanced focus on data privacy and security will be crucial for gaining consumer trust and driving adoption.
  6. Integration of smart home devices with health and wellness technologies will become more prevalent.
  7. Development of more affordable smart home solutions will broaden the market reach.
  8. Strategic partnerships between tech giants and startups will foster innovation and product diversity.
  9. Voice-controlled interfaces and virtual assistants will continue to gain popularity among consumers.
  10. Increased consumer awareness and education about the benefits of connected homes will drive market expansion.

Table of Content
CHAPTER NO. 1 : INTRODUCTION 15
1.1.1. Report Description 15
Purpose of the Report 15
USP & Key Offerings 15
1.1.2. Key Benefits for Stakeholders 15
1.1.3. Target Audience 16
1.1.4. Report Scope 16
CHAPTER NO. 2 : EXECUTIVE SUMMARY 17
2.1. North America Connected Homes Market Snapshot 17
2.1.1. North America Connected Homes Market, 2018 – 2032 (USD Million) 18
CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 19
3.1. Russia-Ukraine and Israel-Palestine War Impacts 19
CHAPTER NO. 4 : NORTH AMERICA CONNECTED HOMES MARKET – INDUSTRY ANALYSIS 20
4.1. Introduction 20
4.2. Market Drivers 21
4.2.1. Driving Factor 1 Analysis 21
4.2.2. Driving Factor 2 Analysis 22
4.3. Market Restraints 23
4.3.1. Restraining Factor Analysis 23
4.4. Market Opportunities 24
4.4.1. Market Opportunity Analysis 24
4.5. Porter’s Five Forces Analysis 25
CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 26
5.1. Company Market Share Analysis – 2023 26
5.1.1. North America Connected Homes Market: Company Market Share, by Volume, 2023 26
5.1.2. North America Connected Homes Market: Company Market Share, by Revenue, 2023 27
5.1.3. North America Connected Homes Market: Top 6 Company Market Share, by Revenue, 2023 27
5.1.4. North America Connected Homes Market: Top 3 Company Market Share, by Revenue, 2023 28
5.2. North America Connected Homes Market Company Revenue Market Share, 2023 29
5.3. Company Assessment Metrics, 2023 30
5.3.1. Stars 30
5.3.2. Emerging Leaders 30
5.3.3. Pervasive Players 30
5.3.4. Participants 30
5.4. Start-ups /SMEs Assessment Metrics, 2023 30
5.4.1. Progressive Companies 30
5.4.2. Responsive Companies 30
5.4.3. Dynamic Companies 30
5.4.4. Starting Blocks 30
5.5. Strategic Developments 31
5.5.1. Acquisitions & Mergers 31
New Product Launch 31
North America Expansion 31
5.6. Key Players Product Matrix 32
CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 33
6.1. PESTEL 33
6.1.1. Political Factors 33
6.1.2. Economic Factors 33
6.1.3. Social Factors 33
6.1.4. Technological Factors 33
6.1.5. Environmental Factors 33
6.1.6. Legal Factors 33
6.2. Adjacent Market Analysis 33
CHAPTER NO. 7 : NORTH AMERICA CONNECTED HOMES MARKET – BY FUNCTIONALITY SEGMENT ANALYSIS 34
7.1. North America Connected Homes Market Overview, by Functionality Segment 34
7.1.1. North America Connected Homes Market Revenue Share, By Functionality, 2023 & 2032 35
7.1.2. North America Connected Homes Market Attractiveness Analysis, By Functionality 36
7.1.3. Incremental Revenue Growth Opportunity, by Functionality, 2024 – 2032 36
7.1.4. North America Connected Homes Market Revenue, By Functionality, 2018, 2023, 2027 & 2032 37
7.2. Energy and Utilities Management 38
7.3. Smart Entertainment 39
7.4. Wellness and Monitoring 40
7.5. Security and Safety 41
7.6. Smart Appliance 42
CHAPTER NO. 8 : NORTH AMERICA CONNECTED HOMES MARKET – BY COMPONENT SEGMENT ANALYSIS 43
8.1. North America Connected Homes Market Overview, by Component Segment 43
8.1.1. North America Connected Homes Market Revenue Share, By Component, 2023 & 2032 44
8.1.2. North America Connected Homes Market Attractiveness Analysis, By Component 45
8.1.3. Incremental Revenue Growth Opportunity, by Component, 2024 – 2032 45
8.1.4. North America Connected Homes Market Revenue, By Component, 2018, 2023, 2027 & 2032 46
8.2. Light Control Solution 47
8.3. Security Solution 48
8.4. Entertainment Solution 49
8.5. Homehealthcare Solution 50
8.6. Energy Management Solution 51
CHAPTER NO. 9 : NORTH AMERICA CONNECTED HOMES MARKET – BY PLATFORM SEGMENT ANALYSIS 52
9.1. North America Connected Homes Market Overview, by Platform Segment 52
9.1.1. North America Connected Homes Market Revenue Share, By Platform, 2023 & 2032 53
9.1.2. North America Connected Homes Market Attractiveness Analysis, By Platform 54
9.1.3. Incremental Revenue Growth Opportunity, by Platform, 2024 – 2032 54
9.1.4. North America Connected Homes Market Revenue, By Platform, 2018, 2023, 2027 & 2032 55
9.2. Smartphones 56
9.3. Laptops 57
9.4. Home Gateway 58
9.5. Other Platforms 59
CHAPTER NO. 10 : NORTH AMERICA CONNECTED HOMES MARKET – BY TYPE OF HOMES SEGMENT ANALYSIS 60
10.1. North America Connected Homes Market Overview, by Type of Homes Segment 60
10.1.1. North America Connected Homes Market Revenue Share, By Type of Homes, 2023 & 2032 61
10.1.2. North America Connected Homes Market Attractiveness Analysis, By Type of Homes 62
10.1.3. Incremental Revenue Growth Opportunity, by Type of Homes, 2024 – 2032 62
10.1.4. North America Connected Homes Market Revenue, By Type of Homes, 2018, 2023, 2027 & 2032 63
10.2. Apartment 64
10.3. Villa/Bungalow 65
10.4. Other Homes 66
CHAPTER NO. 11 : NORTH AMERICA CONNECTED HOMES MARKET – NORTH AMERICA 67
11.1. North America 67
11.1.1. Key Highlights 67
11.1.2. North America Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 68
11.1.3. North America Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 69
11.1.4. North America Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 70
11.1.5. North America Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 71
11.1.6. North America Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 72
11.2. U.S. 73
11.3. Canada 73
11.4. Mexico 73
CHAPTER NO. 12 : COMPANY PROFILES 74
12.1. ABB Limited 74
12.1.1. Company Overview 74
12.1.2. Product Portfolio 74
12.1.3. Swot Analysis 74
12.1.4. Business Strategy 75
12.1.5. Financial Overview 75
12.2. Emerson Electric Co. 76
12.3. Honeywell International Inc. 76
12.4. Schneider Electric SE 76
12.5. Siemens AG 76
12.6. LG Electronics Inc. 76
12.7. Cisco Systems Inc. 76
12.8. Google Inc. (Alphabet Inc) 76
12.9. Microsoft Corporation 76
12.10. GE Appliances (Haier Group) 76
12.11. IBM Corporation 76
12.12. Legrand SA 76
12.13. Lutron Electronics Co. Inc. 76
12.14. United Technologies Corporation 76
12.15. Control4 Corporation 76
CHAPTER NO. 13 : RESEARCH METHODOLOGY 77
13.1. Research Methodology 77
13.1.1. Phase I – Secondary Research 78
13.1.2. Phase II – Data Modeling 78
Company Share Analysis Model 79
Revenue Based Modeling 79
13.1.3. Phase III – Primary Research 80
13.1.4. Research Limitations 81
Assumptions 81

List of Figures
FIG NO. 1. North America Connected Homes Market Revenue, 2018 – 2032 (USD Million) 18
FIG NO. 2. Porter’s Five Forces Analysis for North America Connected Homes Market 25
FIG NO. 3. Company Share Analysis, 2023 26
FIG NO. 4. Company Share Analysis, 2023 27
FIG NO. 5. Company Share Analysis, 2023 27
FIG NO. 6. Company Share Analysis, 2023 28
FIG NO. 7. North America Connected Homes Market – Company Revenue Market Share, 2023 29
FIG NO. 8. North America Connected Homes Market Revenue Share, By Functionality, 2023 & 2032 35
FIG NO. 9. Market Attractiveness Analysis, By Functionality 36
FIG NO. 10. Incremental Revenue Growth Opportunity by Functionality, 2024 – 2032 36
FIG NO. 11. North America Connected Homes Market Revenue, By Functionality, 2018, 2023, 2027 & 2032 37
FIG NO. 12. North America Connected Homes Market for Energy and Utilities Management, Revenue (USD Million) 2018 – 2032 38
FIG NO. 13. North America Connected Homes Market for Smart Entertainment, Revenue (USD Million) 2018 – 2032 39
FIG NO. 14. North America Connected Homes Market for Wellness and Monitoring, Revenue (USD Million) 2018 – 2032 40
FIG NO. 15. North America Connected Homes Market for Security and Safety, Revenue (USD Million) 2018 – 2032 41
FIG NO. 16. North America Connected Homes Market for Smart Appliance, Revenue (USD Million) 2018 – 2032 42
FIG NO. 17. North America Connected Homes Market Revenue Share, By Component, 2023 & 2032 44
FIG NO. 18. Market Attractiveness Analysis, By Component 45
FIG NO. 19. Incremental Revenue Growth Opportunity by Component, 2024 – 2032 45
FIG NO. 20. North America Connected Homes Market Revenue, By Component, 2018, 2023, 2027 & 2032 46
FIG NO. 21. North America Connected Homes Market for Light Control Solution, Revenue (USD Million) 2018 – 2032 47
FIG NO. 22. North America Connected Homes Market for Security Solution, Revenue (USD Million) 2018 – 2032 48
FIG NO. 23. North America Connected Homes Market for Entertainment Solution, Revenue (USD Million) 2018 – 2032 49
FIG NO. 24. North America Connected Homes Market for Homehealthcare Solution, Revenue (USD Million) 2018 – 2032 50
FIG NO. 25. North America Connected Homes Market for Energy Management Solution, Revenue (USD Million) 2018 – 2032 51
FIG NO. 26. North America Connected Homes Market Revenue Share, By Platform, 2023 & 2032 53
FIG NO. 27. Market Attractiveness Analysis, By Platform 54
FIG NO. 28. Incremental Revenue Growth Opportunity by Platform, 2024 – 2032 54
FIG NO. 29. North America Connected Homes Market Revenue, By Platform, 2018, 2023, 2027 & 2032 55
FIG NO. 30. North America Connected Homes Market for Smartphones, Revenue (USD Million) 2018 – 2032 56
FIG NO. 31. North America Connected Homes Market for Laptops, Revenue (USD Million) 2018 – 2032 57
FIG NO. 32. North America Connected Homes Market for Home Gateway, Revenue (USD Million) 2018 – 2032 58
FIG NO. 33. North America Connected Homes Market for Other Platforms, Revenue (USD Million) 2018 – 2032 59
FIG NO. 34. North America Connected Homes Market Revenue Share, By Type of Homes, 2023 & 2032 61
FIG NO. 35. Market Attractiveness Analysis, By Type of Homes 62
FIG NO. 36. Incremental Revenue Growth Opportunity by Type of Homes, 2024 – 2032 62
FIG NO. 37. North America Connected Homes Market Revenue, By Type of Homes, 2018, 2023, 2027 & 2032 63
FIG NO. 38. North America Connected Homes Market for Apartment, Revenue (USD Million) 2018 – 2032 64
FIG NO. 39. North America Connected Homes Market for Villa/Bungalow, Revenue (USD Million) 2018 – 2032 65
FIG NO. 40. North America Connected Homes Market for Other Homes, Revenue (USD Million) 2018 – 2032 66
FIG NO. 41. North America Connected Homes Market Revenue, 2018 – 2032 (USD Million) 67
FIG NO. 42. Research Methodology – Detailed View 77
FIG NO. 43. Research Methodology 78

List of Tables
TABLE NO. 1. : North America Connected Homes Market: Snapshot 17
TABLE NO. 2. : Drivers for the North America Connected Homes Market: Impact Analysis 21
TABLE NO. 3. : Restraints for the North America Connected Homes Market: Impact Analysis 23
TABLE NO. 4. : North America Connected Homes Market Revenue, By Country, 2018 – 2023 (USD Million) 68
TABLE NO. 5. : North America Connected Homes Market Revenue, By Country, 2024 – 2032 (USD Million) 68
TABLE NO. 6. : North America Connected Homes Market Revenue, By Functionality, 2018 – 2023 (USD Million) 69
TABLE NO. 7. : North America Connected Homes Market Revenue, By Functionality, 2024 – 2032 (USD Million) 69
TABLE NO. 8. : North America Connected Homes Market Revenue, By Component, 2018 – 2023 (USD Million) 70
TABLE NO. 9. : North America Connected Homes Market Revenue, By Component, 2024 – 2032 (USD Million) 70
TABLE NO. 10. : North America Connected Homes Market Revenue, By Platform, 2018 – 2023 (USD Million) 71
TABLE NO. 11. : North America Connected Homes Market Revenue, By Platform, 2024 – 2032 (USD Million) 71
TABLE NO. 12. : North America Connected Homes Market Revenue, By Type of Homes, 2018 – 2023 (USD Million) 72
TABLE NO. 13. : North America Connected Homes Market Revenue, By Type of Homes, 2024 – 2032 (USD Million) 72

Frequently Asked Questions:

What is the current size of the North America Connected Homes Market?

The North America Connected Homes Market is projected to grow from USD 25,781.29 million in 2023 to USD 55,994.21 million by 2032, at a compound annual growth rate (CAGR) of 9.00%.

What factors are driving the growth of the North America Connected Homes Market?

The market is driven by increasing adoption of smart home technologies for convenience, security, and energy management, supported by a robust technological infrastructure, high-speed internet access, and advancements in AI and machine learning.

What are the key segments within the North America Connected Homes Market?

Key segments include Energy and Utilities Management, Smart Entertainment, Wellness and Monitoring, Security and Safety, and Smart Appliances. Additionally, segmentation by component includes Light Control Solutions, Security Solutions, Entertainment Solutions, Home Healthcare Solutions, and Energy Management Solutions.

What are some challenges faced by the North America Connected Homes Market?

Challenges include data security and privacy concerns, high upfront costs, technical complexity of setup and use, limited consumer awareness, subscription fatigue, and interoperability issues between devices from different brands.

Who are the major players in the North America Connected Homes Market?

Major players include Google Inc. (Alphabet Inc), Amazon, Apple, Honeywell International Inc., Schneider Electric SE, Microsoft Corporation, and Cisco Systems Inc., among others.

Which segment is leading the market share?

The Security and Safety segment is leading the market share due to high demand for smart locks, surveillance cameras, and integrated security systems that enhance home safety and security.

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