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Smart Home Technologies Market Projected to Reach $166.7 Billion by 2028: BCC Research

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BCC Research Study Anticipates Robust Growth in Smart Home Technologies Market, with a Compound Annual Growth Rate (CAGR) of 10.3% Expected from 2023 to 2028, Surpassing $166.7 Billion by the End of the Forecast Period

BOSTON, March 1, 2024 /PRNewswire/ — Step into the world of Smart Home Technologies: Global Markets, where innovation meets convenience and transforms the way we live. From lights that respond to your voice commands to security systems that ensure peace of mind, smart homes are redefining our relationship with technology. Imagine walking into a room and the lights coming on automatically or unlocking your door with just a tap on your phone – these are just a glimpse of the incredible possibilities this market offers. With companies worldwide creating new and exciting ways to make our homes safer, more efficient, and simply more enjoyable, there’s something here for everyone. Whether you dream of a home that knows your preferences or one that can entertain you with a simple command, this global market promises to make your vision a reality.

 

“According to the latest research study, the demand for Smart Home Technologies: Global Markets expected to increase from $102.3 billion in 2023 to $166.7 billion by the end of 2028 at a compound annual growth rate (CAGR) of 10.3% during the forecast period 2023 to 2028.”

This report offers a thorough examination of the worldwide smart home technologies market, focusing on networking technology, components, applications, and geographic regions. It provides an overview of global market trends, using 2022 as a baseline and projecting estimates for 2023 through 2028, including forecasts of Compound Annual Growth Rate (CAGR). Additionally, it discusses technological advancements, regulations, competition, economic factors, major drivers, regional dynamics, and current industry trends. The report concludes with detailed profiles of key vendors in the global smart home technologies market.

Voice-controlled smart home devices like Amazon’s Alexa and Google Assistant are gaining popularity, simplifying tasks for millions of households. This surge highlights the increasing reliance on voice as a primary means of interacting with technology at home. Meanwhile, the advent of smart home security systems equipped with advanced computer vision and facial recognition is revolutionizing home security. These systems can distinguish between family members and intruders, offering customized alerts and bolstering security and convenience. Notably, software incorporating these technologies is expected to see rapid growth, at 11.5% during the forecast period. Additionally, the emphasis on interoperability and open standards in the smart home sector is fostering compatibility between devices from different brands, empowering consumers to create comprehensive smart home setups tailored to their preferences.

Unlock the potential of the booming Smart Home Technologies market. Click here to explore the full research findings and strategic insights.

Key Market Drivers of Smart Home Technologies: Global Markets:

Growing Acceptance of Smart Home Technology: simply means that more and more people are embracing and using smart devices in their homes. These devices can do cool things like controlling the lights with your voice or adjusting the thermostat from your phone. As technology improves and becomes more affordable, people are finding smart home gadgets helpful and convenient for everyday life. Whether it’s for saving energy, increasing security, or just making life easier, the growing acceptance of smart home technology shows that it’s becoming a normal part of modern living.Enhanced Cellular Network and Internet Connectivity: mean that our phones and devices can connect to the internet faster and more reliably than before. This improvement allows us to do things like stream videos, make video calls, and download files more quickly without interruptions. With better connectivity, we can stay connected to the internet even in areas where signals were weak before. This enhancement makes it easier for us to use our devices wherever we are, making our online experiences smoother and more enjoyable.Growing Impact of Early Adopters as Trendsetters: as Trendsetters means that people who try new things early on have a big influence on what becomes popular later. Early adopters are like pioneers who try out new technologies or trends before others. When they like something and start using it, their friends and family often follow suit. This trendsetting effect spreads the word and makes the new thing more popular. So, the choices of these early adopters can shape what becomes trendy or widely accepted in the future.Increase in Demand for Convenience and Accessibility at Home: means that more people want things in their homes that make life easier and more convenient. This could be anything from smart devices that automate tasks like turning off lights to features that make homes more accessible for people with disabilities. As our lives get busier, we look for ways to save time and effort, and having convenient and accessible features in our homes helps us do just that.Heightened Focus on Enhanced Energy Management Strategies and Practices: means that people are paying more attention to how they use energy and are looking for ways to use it more efficiently. This could involve things like using smart thermostats to regulate heating and cooling, switching to energy-efficient appliances, or installing solar panels to generate renewable energy. By managing energy better, people can save money on their utility bills and reduce their environmental impact by using less electricity and gas.

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Report Synopsis        

Report Metrics

Details

Base year considered

2022

Forecast Period considered

2023-2028

Base year market size

$93.5 billion

Market Size Forecast

$166.7 billion

Growth Rate

CAGR of 10.3% for the forecast period of 2023-2028

Segment Covered

Networking Technology, Component, Application, Region

Regions covered

North America, Europe, Asia-Pacific, Rest of the World (RoW)

Key Market Drivers

•  Growing Acceptance of Smart Home Technology

•  Enhanced Cellular Network and Internet Connectivity

•  Growing Impact of Early Adopters as Trendsetters

•  Increase in Demand for Convenience and Accessibility at Home

•  Heightened Focus on Enhanced Energy Management Strategies and Practices

 

Report Segmentation & Focus Areas:

Networking Technology: Networking technology refers to how devices in a smart home connect and communicate. Wireless systems, like Wi-Fi and Bluetooth, enable devices to link without physical cables. Wired systems use cables for connections, offering reliability but may require installation. Computing networks integrate devices through shared servers or the internet. Power lines facilitate communication through electrical wiring. Other methods may include emerging technologies or proprietary systems designed for specific purposes.

Component: Components in smart home technology are the essential building blocks that make everything work smoothly. Hardware includes physical devices like smart speakers and sensors. Software comprises the programs and applications that control these devices, enabling them to perform various tasks. Services encompass the support, maintenance, and additional features provided by companies to enhance the functionality of smart home systems. Together, these components form the backbone of the smart home ecosystem, creating seamless and interconnected experiences for users.

Application: Applications in smart home technology represent the different functions and uses of smart devices within a household. Safety and surveillance applications include security cameras and motion sensors to protect homes from intruders. HVAC systems regulate heating, ventilation, and air conditioning for comfort and energy efficiency. Entertainment applications involve smart TVs and audio systems for immersive media experiences. Lighting controls enable users to adjust brightness and colour for ambiance and energy savings. Fire safety devices detect and respond to smoke or carbon monoxide threats. Elevator and parking systems streamline transportation and convenience within smart buildings. Water management solutions monitor and control water usage to prevent waste and damage. Other applications may include health monitoring, smart appliances, or home automation for specific tasks. Together, these applications enhance convenience, efficiency, and safety in modern homes.

this report on the smart home technologies: global markets provide comprehensive insights and analysis, addressing the following key questions:

What is the projected market size and growth rate of the market? 

The market is projected to reach $ 166.7 billion by 2028, growing at a CAGR of 10.3%

What are the key factors driving the growth of the market? 

The key factors driving the market include the growing acceptance of smart home technology, enhanced cellular network and internet connectivity, increasing influence of early adopters, increase in demand for convenience and accessibility at home, increasing usage of managed smart home services, increasing awareness of energy management, etc.

What segments are covered in the market? 

By Networking Technology 
By Component 
By Application 
By Region

By Networking Technology, which segment will dominate the market by the end of 2028? 

By Networking Technology, Wireless segment is expected to dominate the market by the end of 2028.

Which region has the highest market share in the market? 

North America holds the highest share of the global market.

Some of the Key Market Players Are:

ABB LTD.ACUITY BRANDS INC.ADVANTECH CO. LTD.AMAZON.COM INC.APPLE INC.ASSA ABLOY ABCLIPSAL ELECTRIC PTY LTD. (SCHNEIDER ELECTRIC SE)CONTROL4 CORP. (SNAP ONE LLC)CRESTRON ELECTRONICS INC.CYTECH TECHNOLOGY PTE. LTD.CENTRICA PLCGENERAL ELECTRICGOOGLE INC. (ALPHABET INC.)HONEYWELL INTERNATIONAL INC.IBM CORP.INGERSOLL-RANDJOHNSON CONTROLS INTERNATIONAL PLCLEGRAND S.A.LUTRON ELECTRONICS CO. INC.SIGNIFY HOLDINGSAVANT SYSTEMS INC.SCHNEIDER ELECTRIC SESIEMENSSYNAPSE WIRELESS INC.TELETASK BVBAVIVINIT INC.

Browse More Related Reports:

Wireless Sensors: Technologies and Global Markets: is a study about the use of wireless sensors worldwide. These sensors are small devices that can detect and transmit data without needing wires. The report looks at the different technologies used in these sensors and how they’re being used across the globe. It covers various industries like healthcare, manufacturing, and environmental monitoring. The study also examines factors affecting this market, such as advancements in sensor technology, demand for real-time data, and government regulations.

Directly Purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with info@bccresearch.com.   

About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions, free of noise and hype.

Contact Us
Corporate HQ: BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com  or visit our media page for access to our market research library.
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. 

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SOURCE BCC Research LLC

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TotalEnergies ENEOS signs 15-year PPA with Thailand’s Jintana Intertrade

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NAKHON RATCHASIMA, Thailand, April 22, 2026 /PRNewswire/ — TotalEnergies ENEOS and Jintana Intertrade Co., Ltd. (Jintana), an established Thai garment manufacturer, signed a 15-year Power Purchase Agreement (PPA) to develop a 650 kilowatt-peak (kWp) rooftop solar photovoltaic (PV) system at Jintana’s manufacturing plant in Nakhon Ratchasima, Thailand.

The rooftop solar installation, with approximately 1,000 solar PV modules, is expected to generate over 1,000 megawatt-hours (MWh) of renewable electricity annually. This will supply around 55% of the site’s total electricity needs and will help avoid more than 480 tons of CO2 emissions annually for Jintana.

Under the PPA, TotalEnergies ENEOS will fully finance, design, install, operate and maintain the system, while Jintana buys the electricity produced throughout the duration of the agreement. This partnership offers Jintana substantial benefits, primarily through electricity cost savings, long-term energy price stability and enhanced sustainability credentials.

“We are pleased to sign this 15-year deal with Jintana, marking the start of our partnership to support their sustainability goals,” said Alexandru Buzatu, Director of TotalEnergies ENEOS Renewables Distributed Generation Asia Pacific. “More corporates are adopting solar energy to reduce costs and meet sustainability targets. Integrating on-site solar power into manufacturing operations is a practical and effective approach for companies to reduce emissions and secure cleaner electricity for the long term.”

“Signing this project with TotalEnergies ENEOS represents an important milestone in Jintana’s sustainability journey. We are pleased to contribute to emissions reduction through the adoption of renewable energy at our manufacturing site and to take a meaningful step toward more sustainable operations. We hope this project will serve as a strong foundation for further progress, and we remain committed to supporting a lower-carbon future,” said Savitee Thanalongkorn, CEO of Jintana Intertrade Co., Ltd.

To learn more about TotalEnergies ENEOS tailored solar solutions, check out the free brochure, or contact directly for more information.

***

About TotalEnergies ENEOS Renewables Distributed Generation Asia Pte. Ltd.
The company is a 50/50 joint venture between TotalEnergies and ENEOS to develop onsite B2B solar distributed generation across Asia. It is headquartered in Singapore with a plan to develop 2 GW of decentralized solar capacity over the next five years. https://solar.totalenergies.asia

TotalEnergies and electricity
TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. At the beginning of 2026, TotalEnergies has more than 34 GW of gross renewable power generation capacity and aims to achieve over 100 TWh of net electricity production by 2030.

ENEOS Corporation and renewables electricity
ENEOS Group operates solar power plants in Japan and is also participating in renewable energy projects in the United States, Australia, Vietnam and Taiwan Region. Furthermore, ENEOS is actively engaged in power generation projects using biomass, hydroelectric power, wind power, etc. This joint venture is ENEOS’ first overseas renewable energy project using distributed power sources. 

About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

About ENEOS Corporation
ENEOS Group has developed businesses in the energy and nonferrous metals segments, from upstream to downstream. The Group’s envisioned goals for 2040 are: becoming one of the most prominent and internationally competitive energy and materials company groups in Asia, creating value by transforming our current business structure, and contributing to the development of a low-carbon, recycling-oriented society with the pursuit of carbon-neutral status in its own CO2 emissions. ENEOS Corporation, one of the principal operating companies in the Group, is contributing to achievement of the Group’s envisioned goals through a broad range of energy businesses. 

TotalEnergies ENEOS Contact
Media Relation: contact.solar.asia@totalenergies.com

About Jintana Intertrade Co., Ltd.
Jintana Intertrade Co., Ltd. is a long-established Thai intimate apparel company with more than 65 years of heritage. The company operates across two core business areas: the development and retail of its own brand, and manufacturing for both its branded business and OEM export customers. Built on a foundation of sincerity, quality and continuous improvement, Jintana combines trusted brand heritage with established manufacturing expertise to serve evolving customer needs in both domestic and international markets.

Jintana Intertrade Co., Ltd. Contact
Media Relation: marketing@jintana.com

TotalEnergies on social media

X: @TotalEnergiesLinkedIn: TotalEnergiesFacebook: TotalEnergiesInstagram: TotalEnergies

Cautionary Note TotalEnergies
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

Cautionary Note ENEOS Corporation
The terms “ENEOS”, “ENEOS Group” in this document are used to designate ENEOS Corporation and the consolidated entities that are directly or indirectly controlled by ENEOS Corporation. This document contains certain forward-looking statements. Actual results may differ materially from those reflected in any forward-looking statement due to various factors, which include, but are not limited to, the following: (1) macroeconomic conditions and changes in the competitive environment in the energy, resources, and materials industries; (2) the impact of COVID-19 on economic activity; (3) changes in laws and regulations; and (4) risks related to litigation and other legal proceedings.

 

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SOURCE TotalEnergies ENEOS Renewables Distributed Generation Asia

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Taiwan’s Smart Tolling Technology Goes Global as Thailand Launches AI-Powered M81 Motorway System

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TAIPEI, April 22, 2026 /PRNewswire/ — Sightings of electronic toll collection (ETC) gantries resembling those used on Taiwan’s freeways have recently drawn attention on social media along the Bangkok–Kanchanaburi highway. Far Eastern Electronic Toll Collection Co., Ltd. (FETC) confirmed that the system is part of Thailand’s newly launched M-Flow multi-lane free-flow tolling system on the Intercity Motorway No. 81 Bang Yai – Kanchanaburi Route (M81).

Developed in collaboration with FETC International (Thailand) Co., Ltd. (FETCi Thailand) and the BGSR81 Co., Ltd, the system has officially entered operation, marking a significant milestone in Thailand’s transition toward smart, digitally enabled highway infrastructure.

The launch also strengthens connectivity between Bangkok and Kanchanaburi, effectively creating a “one-day travel corridor” and supporting regional tourism and economic activity.

AI-Driven Tolling Cuts Travel Time to 48 Minutes

According to Kenny Chen, Managing Director of FETCi Thailand, the M81 project demonstrates the flexibility and scalability of Taiwan’s ETC technology in complex international environments.

FETCi Thailand led the design, installation, and implementation of the tolling system and its Traffic Operations Center (TOC). The platform integrates artificial intelligence (AI) and Internet of Things (IoT) technologies to enable data-driven traffic management and operational decision-making. It is also designed for future expansion, including applications such as weigh-in-motion enforcement.

Thailand’s diverse vehicle types and more complex license plate formats presented technical challenges. These were addressed through advanced AI-powered automatic license plate recognition (ALPR), ensuring high accuracy in vehicle identification. Combined with multiple digital payment options, the system allows vehicles to pass through toll points without stopping.

Since its launch, travel time between Bangkok and Kanchanaburi has been reduced from nearly two hours to approximately 48 minutes. Weekend traffic volumes have reached around 55,000 vehicles per day, improving both tourism access and logistics efficiency in western Thailand.

M9 Experience Highlights Strong Economic and Environmental Benefits

FETC has also supported Thailand’s Department of Highways (DOH) since 2022 in deploying and operating the M-Flow system on the M9 motorway, including gantry design and operational consulting.

According to DOH data, the system has increased traffic throughput fivefold and saves motorists an estimated 3.33 million hours annually. It has achieved a benefit-cost ratio of 6.94, meaning each dollar invested generates nearly seven dollars in overall societal value.

In environmental terms, the system reduces fuel consumption by approximately 13.91 million liters per year and cuts carbon emissions by more than 36,000 metric tons, contributing to more sustainable transportation.

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SOURCE FETC International

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Critical Link Launches World’s First AI-Driven SOM Recommendation Engine, Powered by Rapidflare

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Critical Link and Rapidflare have jointly launched the world’s first AI-driven System on Module Recommendation Engine. Engineers can now describe their requirements in plain language and receive accurate, tailored SOM recommendations in seconds. Together, the two companies are redefining how electronics teams discover and select embedded solutions.

SAN JOSE, Calif., April 21, 2026 /PRNewswire-PRWeb/ — Critical Link LLC, a leader in system-on-module solutions, has introduced the world’s first AI-driven System on Module Recommendation Engine, powered by Rapidflare’s Rapid Product Selection Agent. The new engine advances Critical Link’s mission to help customers bring embedded products to market faster and more cost-effectively.

Together, Rapidflare and Critical Link are combining their strengths to make the journey from concept to product faster, smarter, and more closely aligned with customer needs. – Amber Thousand, Sr. Director of Marketing, Critical Link

In the electronics industry, selecting the right product often requires manually comparing hundreds of pages of datasheets or relying on rigid parametric search tools. Critical Link’s SOM Recommendation Engine is set to change that. With Rapidflare’s conversational AI agent, customers can describe their requirements in natural language and receive tailored recommendations in a fraction of the time.

“For years customers have asked for a better way to find the right SOM for their application. Launching this AI-driven engine with Rapidflare’s technology is a game changer,” said Amber Thousand, Sr. Director of Marketing at Critical Link. “Their accuracy, domain expertise, and speed of integration made them the clear choice to support our mission.”

Unlike generic AI agents, Rapidflare’s technology is purpose-built for complex product selection workflows. It combines knowledge graph-based reasoning, domain-specific intelligence, and industry guardrails to deliver recommendations that are both fast and reliable for electronics teams.

“The best partnerships happen when your mission aligns with your partner’s mission,” said Navanee Sundaramoorthy, CEO and Founder at Rapidflare. “We’re proud to partner with Critical Link to help make SOM product selection more seamless, intuitive, and efficient for their team and customers.”

Beyond accelerating product selection, the AI engine gives engineers a new way to engage with Critical Link. “We’ve always offered thorough documentation and product support to customers via our website, our engineering wiki, and personal contact. Adding the SOM Recommendation Engine creates a more efficient path for self-discovery, which we see as a growing trend,” said Thousand. “Together, Rapidflare and Critical Link are combining their strengths to make the journey from concept to product faster, smarter, and more closely aligned with customer needs.”

To explore Critical Link’s SOM Recommendation Engine, visit https://www.criticallink.com/som-recommendation-ai-agent/.

To learn more about Rapidflare and its AI-powered product selection solutions, visit Rapidflare’s website: https://www.rapidflare.ai/

About Rapidflare

Rapidflare builds AI-powered domain specific agents for electronics, semiconductors, and other technically complex industries. Its product intelligence powered AI platform gives teams natural-language access to product and engineering knowledge, making it easier to find accurate answers, support customers, and move faster across critical workflows. Rapidflare multiplies the impact of GTM teams by making critical technical knowledge instantly accessible, helping sales, solutions engineering, product marketing, support, and customer success teams move faster and operate with confidence. For more information, visit rapidflare.ai

About Critical Link

Critical Link designs and manufactures CPU-based, FPGA-based, and DSP-based system-on-modules (SOMs) for industrial electronic applications. Its production-ready embedded solutions help customers bring products to market faster and at lower cost by reducing development complexity, risk, and time spent building core processing subsystems from scratch. With a focus on product quality, long-term availability, lifecycle support, and close customer engagement, Critical Link serves OEMs across a wide range of industrial and technically demanding applications. For more information, visit the website: criticallink.com

Media Contact

Balpreet, Rapidflare, 1 2068614231, balpreet@rapidflare.ai, rapidflare.ai

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SOURCE Rapidflare

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