 Home > Chemicals Industry > Rubber Plastic News > Smart home appliances are expected to grow by 28% in 2021, reaching 99.6 billion US dollars!

Smart home appliances are expected to grow by 28% in 2021, reaching 99.6 billion US dollars!

 Last Update: 2022-08-26
 Source: Internet
 Author: User

Tags

1 5 whiskey

lawyer job growth

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

In recent years, the global smart home market has been growing, the adoption rate of smart devices is increasing, the demand for energy-saving solutions is increasing, and the importance of home monitoring systems is increasing

Smart home revenue to grow 16% year-on-year in 2020

According to data provided by Buy Shares, the global smart home market revenue in 2020 increased by 16% year-on-year to $77 billion

Smart home technology refers to any set of devices, appliances or systems connected to a common network that can be controlled independently and remotely

Growth trends unaffected by Covid-19

The global smart home market has been growing in recent years

Statistics show that despite the COVID-19 outbreak, the industry as a whole has maintained impressive growth in 2020, with revenue rising 16% year-on-year to $77 billion

Smart appliances are the largest segment of the market and are expected to generate $37.
1 billion in revenue in 2021, up 30% in a year

Security systems, home entertainment, comfort and lighting, and energy management solutions were $15.
1 billion, $11.
3 billion, $8.
4 billion, and $7.
9 billion, respectively

The Statista survey also shows that the number of households in the smart home space has grown significantly over the years, from 141 million in 2017 to 221.
7 million in 2020

The United States is the world's largest smart home market

The U.
S.
is the world’s largest smart home market by geography and is expected to generate nearly 30% of total revenue this year
.
Statistics show that the U.
S.
market is expected to grow by 23% year-on-year and reach $28.
8 billion in 2021
.

Smart home revenue in China was $18 billion, up 29 percent from a year ago, making it the second-largest market in the world
.
The UK market, the third largest in the world, is expected to grow by 28% year-on-year in 2021 and generate $6.
8 billion in revenue
.
Germany and Japan followed with $6.
1 billion and $5.
4 billion, respectively
.

Statistics show that in 2021, the total revenue of the top five smart home markets in the world is expected to reach $65.
1 billion, an increase of $13.
5 billion in one year
.

The growth of the smart home market is conducive to the development of the market volume of upstream raw materials ABS, PP and other plastic raw materials, and will form a favorable support on the demand side
.

This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.