Us Smart Home Hub Market By Component (Hardware, Software) By Technology (Zigbee, Z-Wave, Wifi, Bluetooth), By Distribution Channel (Online Stores, Multi-Brand Stores, And Brand Stores), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031
- Published date: Nov. 2024
- Report ID: 74324
- Number of Pages: 331
- Format:
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Report Overview
The US smart home hub market is projected to be US$ 21,225.3 Mn in 2021 to reach US$ 65,307.4 Mn by 2031 at a CAGR of 12.1%.
A smart home hub is essentially the brain of your home automation system, allowing for the central control of various smart devices such as lights, thermostats, locks, and more. These hubs facilitate the integration and management of smart devices through user-friendly interfaces, often supported by voice assistants like Google Assistant or Amazon Alexa. Over the recent years, the U.S. market for smart home hubs has shown significant growth, driven by the increasing adoption of smart home technology, an emphasis on home energy efficiency, and the convenience of having a connected home environment.
The US smart home hub market is expanding due to the increasing adoption of smart home technologies. Consumers are drawn to the convenience of controlling multiple devices from a single point. The market is characterized by innovations that enhance user interactions, such as voice commands and intuitive interfaces. Demand is further driven by the integration of advanced technologies like artificial intelligence and the Internet of Things (IoT), which enhance the functionality of smart home hubs.
trending_up Total Revenue in 2018$ 21,225.3 Mn
trending_up Market CAGR of the Next Ten Years12.1%
no_encryption Market Value (US$ Mn), Share (%) and Growth Rate (%) Comparison 2012-2028Purchase this report or a membership to unlock the market value (US$ Mn), share (%) and growth rate (%) comparison for this industry.- By Type
- By Region
- By Application
no_encryption Leading Companies Financial HighlightsPurchase this report or a membership to unlock the leading companies financial highlights for this industry.trending_up Market Revenue of the Next Ten Years$ 65,307.4 Mn
The major driving factors of the US smart home hub market include the growing consumer interest in home automation and the convenience of managing all home devices through a single platform. The increasing focus on home security and energy efficiency also contributes to the market growth, as smart hubs can integrate security cameras and energy management systems seamlessly.
Market demand for smart home hubs is driven by the desire for integrated home management systems and the increasing number of smart homes in the US. Consumers are looking for hubs that offer compatibility with a wide range of devices and protocols, enabling a more connected and efficient home environment.
There are significant opportunities in the market for developing hubs that support a broader array of devices and standards, ensuring cross-compatibility and enhanced user experience. Opportunities also exist in incorporating more AI-driven features, such as predictive maintenance and personalized automation, to attract tech-savvy consumers.
Technological advancements in the smart home hub market include the integration of AI and IoT, which facilitate smarter automation and improved device management. Innovations such as voice control and facial recognition are becoming more common, providing users with more intuitive ways to interact with their home systems. These advancements are not only enhancing the capabilities of smart home hubs but are also driving consumer adoption by offering greater convenience and efficiency.
The US Smart Home Hub Market Revenue (US$ Mn), 2020–2031
Increasing disposable incomes have led to a surge in this industry’s prominence, with the use of smart devices increasing in the residential sector as well. The demand for household technological appliances such as LED televisions, printers, microwaves, washing machines, etc., seems insatiable. This is another factor that is expected to further propel the revenue growth of the US smart home hub market over the forecast period.
A smart home hub system immensely aids individuals with disabilities. This device can help them enjoy a more independent living, and increases accessibility without requiring them to make changes to how their home is designed, built or exists. Simply put, this type of technology provides them with “home control,” which can make a huge difference in how they live their everyday life. This is a major factor that is also anticipated to contribute to a surge in the demand for these devices in the years to come.
The lack of awareness concerning the benefits of smart home is a major factor restraining the projected revenue growth of the US smart home hub market. Moreover, additional costs associated with the installation of these devices is another factor that is also expected to hamper revenue growth for this target market over the forecast period. The COVID-19 pandemic has resulted in the slowdown of critical trade activities across several countries.
A primary factor behind this slowdown can be attributed to the various countermeasures adopted by respective countries to curb the trajectory of this virus. As major economies enforce precautionary lockdowns, a considerable gap between market supply and demand is being created, resulting in increased difficulties for both manufacturers and distributors to effectively manage their respective operations. This is a primary factor that is anticipated to influence future prospects for revenue growth. However, as these lockdowns are gradually lifted, and economies begin to recover, this market is expected to regress to its post-COVID state.
The US Smart Home Hub Market Attractiveness Analysis by Component, 2015–2031
The research report on The US smart home hub market includes Amazon.com, Inc., Apple Inc., Samsung Electronics Co. Ltd, Alphabet, Inc., Microsoft Corp., LG Electronics, Logitech International SA, Wirepath Home Systems, LLC, Vera Control, Ltd., Tri Plus Grupa d.o.o., Wink Labs Inc., Securifi Inc., SmartBeings Inc. and other key players
The US Smart Home Hub Market Segmentation Based on Component, Technology and Distribution Channel
Based on Component:
- Hardware
- Software
Based on Technology:
- Zigbee
- Z-Wave
- Wi-Fi
- Bluetooth
Based on Distribution Channel:
- Online Stores
- Multi-Brand Stores
- Brand Stores
Based on key Players:
- Amazon.com Inc.
- Apple Inc.
- Samsung Electronics Co. Ltd
- Alphabet Inc.
- Microsoft Corp.
- LG Electronics
- Logitech International SA
- Wirepath Home Systems LLC
- Vera Control Ltd.
- Tri Plus Grupa d.o.o.
- Wink Labs Inc.
- Securifi Inc.
- SmartBeings Inc.
- Other
For the US Smart Home Hub Market research study, the following years have been considered to estimate the market size:
Attribute Report Details Historical Years
2016-2020
Base Year
2021
Estimated Year
2022
Short Term Projection Year
2028
Projected Year
2023
Long Term Projection Year
2032
Report Coverage
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
Regional Scope
North America, Europe, Asia-Pacific, South America, Middle East & Africa
Country Scope
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
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- Amazon.com Inc.
- Apple Inc. Company Profile
- Samsung Electronics Co. Ltd Company Profile
- Alphabet Inc.
- Microsoft Corp.
- LG Electronics
- Logitech International SA
- Wirepath Home Systems LLC
- Vera Control Ltd.
- Tri Plus Grupa d.o.o.
- Wink Labs Inc.
- Securifi Inc.
- SmartBeings Inc.
- Other
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