North America Smart Home Market – GMI Research The US will continue to drive the multi | Page 2

The growing penetration of the IOT based lighting solutions in households is
driving the lighting market in North America’s smart home market.
The ease of remotely operating the household lights and consequently, reducing
the electricity bills are some of the factors which are propelling the growth of
the lighting application segment in North America’s smart home market. It is
expected that lighting applications will witness rapid growth in North America’s
smart home market and is expected to grow at an estimated CAGR of 10.7%
during the forecast period.
The constant threat of physical, as well as cyber-attack on the smart home
appliances, is supporting the growth of the security and access control
application. It is foreseen that security and access control application will
experience significant growth in the North America smart home market in the
coming years. It is expected by 2025, security and access control application
will have about one-sixth of the market share in the North America smart home
market.
“The growing number of cyber-attacks and the increasing threat of hijackking of
the connected smart home devices is fuelling the growth of the security and
surveillance application in the North America smart home. Further, rising need
for remotely monitoring the aged population and children are supporting the
growth of the smart homes market in the region.”
—-GMI Research
Based on countries, the US held the largest share in the market in 2017 since,
about 28.5 million homes were smart homes in 2017, whereas, in 2016 about 21
million homes were smart homes. Further, growing technology friendly
population and high disposable income are some other factors which are driving
the growth of the North America smart home market.