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Smart Home as a Service Market is Anticipated to Grow at A CAGR of 15.4% From 2022 to 2032, Future Market Insights Inc.
[July 26, 2022]

Smart Home as a Service Market is Anticipated to Grow at A CAGR of 15.4% From 2022 to 2032, Future Market Insights Inc.

The United States is expected to account for the highest Smart Home as a Service market valued at US$ 9.8 Bn by the end of 2032 with an expected CAGR of 16. Increasing need for monitoring and robust security at home has been shaping the growth of smart home as a service market.

NEWARK, Del., July 26, 2022 /PRNewswire/ -- The Smart Home as a Service Market revenues were estimated at US$ 5.5 Bn in 2021 and is anticipated to grow at a CAGR of 15.4% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 27.2 Bn. Integrated smart home as a service demand is projected to accelerate at over 16% during 2022 – 2032.

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Technological improvements have enabled the creation of new services such as live stream monitoring, intrusion warnings, and fast updates that were previously unavailable with traditional systems. According to a 2015 Icontrol Network research, 90% of customers believed that home security system is the key motivation for smart home adoption.

Smart homes can drastically reduce domestic robberies, break-ins, and burglaries while preventing unwanted visitors out, making houses considerably safer. As a result, the increased security provided by smart homes is likely to drive the worldwide smart home as a service market over the forecast period.

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Key Takeaways from the Market Study

  • Global Smart Home as a Service Market is estimated to reach a valuation of US$ 6.5 Bn by 2022.
  • In terms of Service, the Integrated Service segment is expected to account for the highest CAGR of 16.1% during the forecast period.
  • In terms of Solutions, the Integrated Solution segment is expected to account for the highest CAGR of 16.1% during the forecast period.
  • United States is projected to remain the most dominant market with an absolute dollar growth opportunity of US$ 9.8 Bn during 2022 – 2032.
  • The market in U.S. is set to experience the highest CAGR of 16% during the 2022-2032 forecast period.

Competitive Landscape

The sector for smart home as services market has been experiencing fierce competition with the introduction of new start-ups offering a diversified variety of creative solutions catering to different industrial requirements. Vivint, Inc., AT&T Inc, Comcast Corporation, CenturyLink Inc, and Charter Communications are some of the key smart home as a service companies.

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Some of the recent market developments include:

  • In January 2020, Vivint Smart Home, Inc. and Mosaic Acquisition Corp. announced that the previously disclosed transaction between Vivint and Mosaic has been completed, resulting in Vivint becoming a publicly listed business. The acquisition is among the largest SPAC mergers in the United States, with a market valuation of US$ 4.2 Bn, comprising US$ 488 Mn in extra stock.
  • In May 2021, AT&T announced US$ 43 Bn merger of Warner Media and Discovery. AT&T will reverse its US$ 85 Bn takeover of Time Warner, which concluded three years ago and build a new media firm with Discovery under the terms of the agreement. As per The Financial Times, the merger would establish a new corporation independent from AT&T that might be worth up to US$ 150 Bn, including debt.
  • In October 2021, Comcast Corporation announced the completion of its takeover of Masergy, an innovator in cloud platforms and software-defined networking for global companies. The purchase acelerates Comcast Business's expansion servicing big and mid-size firms, particularly US-based organizations with multi-site worldwide operations and strengthens their overall channel distribution system.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Smart Home as a Service Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Smart Home as a Service Market in terms of Smart Home as a Service Market by Service (Managed, Integrated), Solution (Security and Access, Lighting and Window, Audio-Visual and Entertainment, Energy Management and Climate, Integrated), and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).

About the ICT Division at Future Market Insight

Future Market Insights highly experienced ICT team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the ICT business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.

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Market Segments Covered in Smart Home as a Service Market Analysis

By Service:

  • Managed
  • Integrated

By Solution:

  • Security and Access
  • Lighting and Window
  • Audio-Visual and Entertainment
  • Energy Management and Climate

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

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Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter's Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Regions

        3.6.2. By Key Countries

4. Global Smart Home as a Service Market Analysis 2017-2021 and Forecast, 2022-2032

    4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021

    4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.

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