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Smart Home Market size is set to grow by USD 188.3 billion from 2024-2028, Growing consumer interest in home automation boost the market, Technavio

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NEW YORK, July 3, 2024 /PRNewswire/ — The global smart home market size is estimated to grow by USD 188.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 21.21%  during the forecast period. Growing consumer interest in home automation is driving market growth, with a trend towards rising number of strategic partnerships and alliances. However, increase in issues related to interoperability  poses a challenge. Key market players include ABB Ltd., Allegion Public Ltd. Co., Alphabet Inc., Amazon.com Inc., Apple Inc., ASSA ABLOY AB, Comcast Corp., Honeywell International Inc., Hubbell Inc., Johnson Controls, Legrand SA, LG Corp., Lutron Electronics Co. Inc., Panasonic Holdings Corp., RTX Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schneider Electric SE, Snap One LLC, and Vivint Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Smart Home Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 21.21%

Market growth 2024-2028

USD 188.3 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

17.25

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

APAC at 69%

Key countries

US, Germany, China, UK, and Canada

Key companies profiled

ABB Ltd., Allegion Public Ltd. Co., Alphabet Inc., Amazon.com Inc., Apple Inc., ASSA ABLOY AB, Comcast Corp., Honeywell International Inc., Hubbell Inc., Johnson Controls, Legrand SA, LG Corp., Lutron Electronics Co. Inc., Panasonic Holdings Corp., RTX Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schneider Electric SE, Snap One LLC, and Vivint Inc.

Market Driver

The global smart home market is witnessing an increase in strategic partnerships among vendors, with a focus on product development to capitalize on growth opportunities. Smart home product and system manufacturers are collaborating with technology providers, home automation platform providers, and other market participants to ensure interoperability. Notable partnerships include Samsung with ABB Group, Google with ADT, and Amazon with iRobot. These alliances are expected to accelerate growth in segments such as energy management, light control systems, home entertainment, HVAC, smart appliances, safety, and security systems. 

The smart home market is experiencing significant growth with various technologies taking center stage. Speakers, thermostats, and security systems are popular trends. These devices can be controlled through apps or voice commands, providing convenience and efficiency. Smart bulbs and closets are also gaining traction, offering energy savings and improved organization. The use of voice assistants like Siri and Alexa is driving innovation, allowing users to control multiple devices with simple voice commands. The future of smart homes lies in connectivity and automation, making daily life easier and more efficient. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The smart home market is expanding, with vendors focusing on creating dependable home automation solutions for applications like energy management, lighting, home entertainment, HVAC, smart appliances, and safety and security systems. However, the market’s growth may be hindered by interoperability issues. These problems occur when smart home devices cannot work together seamlessly through various interfaces in real-time. For instance, smart security cameras may not be compatible with all smart devices and platforms. To address these challenges, vendors must invest in research and development and acquire the necessary expertise in smart home automation solutions. The prevalence of interoperability issues may negatively impact the growth of the smart home market during the forecast period.The smart home market is experiencing significant growth, with various technologies and devices in use. However, challenges persist in ensuring seamless integration and interoperability among different systems. One major challenge is the fragmentation of the market, with numerous players and proprietary technologies. Another issue is security concerns, as the increasing use of IoT devices in homes raises privacy and data protection risks. Additionally, cost remains a barrier for many consumers, as the initial investment for a fully-equipped smart home can be high. To address these challenges, industry players must focus on developing open standards and collaborating to create interoperable solutions. They should also prioritize security features and affordability to make smart homes accessible to a wider audience.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This smart home market report extensively covers market segmentation by  

Application 1.1 Home entertainment1.2 Smart appliances1.3 Energy management1.4 Lighting control system and HVAC1.5 Safety and security systemTechnology 2.1 Wireless2.2 WiredGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Home entertainment-  The Smart Home Market is experiencing significant growth, driven by increasing consumer demand for convenience and security. Smart home devices, such as thermostats, lighting systems, and security cameras, are becoming increasingly popular. Retailers and manufacturers are responding by expanding their offerings and improving product functionality. This trend is expected to continue, with the global market size projected to reach USD151.4 billion by 2023. Smart home technology is making homes more efficient and comfortable, providing homeowners with peace of mind and added value.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Smart Home Market is experiencing significant growth due to the increasing demand for home monitoring, energy-saving solutions, and the integration of advanced technologies such as 5G, IoT platforms, and Machine Learning. The industry caters to the safety and security needs of Internet users by offering smart home systems that include intrusion detection, cameras, and AI-powered virtual assistants. These systems provide convenience through the control of lighting, temperature, audio/video systems, and smart appliances like dishwashers, all accessible via smartphones and digital assistance. However, with the increasing number of IoT connections and devices, cyberattacks and security threats are becoming a major concern. AI and Machine Learning are being employed to enhance the functionality and security of these systems. Smart homes are transforming into intelligent living spaces, integrating Bluetooth speakers and other entertainment devices to create a more comfortable and connected living experience.

Market Research Overview

The Smart Home Market encompasses a range of technologies and devices designed to enhance convenience, security, and energy efficiency in residential spaces. These solutions include voice-activated assistants, thermostats, lighting systems, security cameras, and appliances, among others. Smart homes utilize various connectivity protocols such as Wi-Fi, Bluetooth, and Zigbee to facilitate seamless communication between devices. The market is driven by factors like increasing consumer awareness, technological advancements, and the growing preference for energy-efficient solutions. Smart homes offer numerous benefits, such as remote monitoring and control, automation, and improved comfort and safety. The market is expected to witness significant growth in the coming years due to these factors and the ongoing digital transformation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationHome EntertainmentSmart AppliancesEnergy ManagementLighting Control System And HVACSafety And Security SystemTechnologyWirelessWiredGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

 

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SOURCE Technavio

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LianLian Global and PayPal Power Cross-Border Payouts for Social Commerce, Marketplace, and eCommerce Customers

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Social commerce, marketplaces and eCommerce players served by LianLian Global can now pay creators, influencers, developers, and independent contractors directly to their PayPal and Venmo wallets.

NEW YORK, Oct. 22, 2026 /PRNewswire/ — LianLian Global  today announced it has partnered with PayPal (NASDAQ: PYPL) to enable its social commerce, marketplace and e-commerce clients to send payouts directly to PayPal accounts globally and to Venmo accounts in the U.S.

The creator and gig economy runs on fast, low-friction payouts. Brands are expected to spend $32.6 billion on creators in 2026 and roughly 50 million people worldwide create content professionally or semi-professionally (Gigapay Global Creator Economy Report 2026). Many of these recipients already hold a PayPal or Venmo account: PayPal had over 400 million active accounts across approximately 200 markets at the end of Q2 2026, and Venmo reached 67 million monthly active accounts in Q4 2025.

Paypal Payouts is live in 96 global markets and 24 currencies. It allows merchants to send to any email address, mobile number, or Venmo user handle, with or without an existing PayPal or Venmo account.

To support enterprises expanding globally, LianLian Global provides digital payment services including pay-in, pay-out, acquiring, foreign exchange, virtual cards and payment aggregation. To date, its parent company Lianlian DigiTech has served more than 13.3 million clients. Its services reach more than 200 countries and regions, support transactions and settlement in more than 140 currencies, and connect with more than 180 global e-commerce platforms.

The partnership combines LianLian Global’s cross-border collection, FX and compliance infrastructure with PayPal’s global wallet network. Key offerings include:

Pay to PayPal: Payouts from LianLian Global clients to PayPal account holders in 96 markets, using only the recipient’s email or phone numberPay to Venmo: Domestic U.S. payouts to Venmo users, including creators, influencers and independent contractorsPayPal Payouts for Platforms: Mass disbursements for social commerce, marketplaces and affiliate platforms paying large numbers of sellers, creators and contractorsSpeed to settle: Save time and money by eliminating check runs and postage; no need for routing numbers and bank accounts.

Sandra Lam, Deputy CEO of US at LianLian Global: “Social commerce is creating a new economy, where creators, influencers and independent sellers drive discovery and sales alongside the platforms they sell on. Paying these participants fast, across borders and in small amount is what powers the network effect of social commerce. We see our work with Paypal as a key step in building the payout rails for the global gig economy.”

The collaboration expands LianLian Global’s payout coverage and supports its growth in the U.S. and global markets as cross-border platforms scale their creator and contractor programs.

View original content:https://www.prnewswire.com/news-releases/lianlian-global-and-paypal-power-cross-border-payouts-for-social-commerce-marketplace-and-ecommerce-customers-302917635.html

SOURCE LianLian Global

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Crab2B Debuts as Hong Kong’s First Dedicated B2B Platform for Mobile Electronics

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HONG KONG, Oct. 23, 2026 /PRNewswire/ — With the global population surpassing 8 billion, mobile electronics have become essential to modern life, with smartphones now used by billions of people. Across approximately 13,861 cities worldwide, electronics wholesalers play a vital role in the supply chain. Among the world’s three major wholesale hubs for digital electronics, Dubai serves the Middle East and Africa, Miami connects markets across Latin America, and Hong Kong draws strength from its unique position linking mainland China with global markets. According to Hong Kong Customs data, re-exports of used mobile phones from Hong Kong reached 51.5 million units in 2025, while the total value of electronics exports hit HK$3.9216 trillion. Yet despite its value running into the trillions of Hong Kong dollars, it has long lacked a dedicated online platform.

Crab2B was created to fill this gap as Hong Kong’s first B2B platform dedicated to mobile electronics. Inspired by Alibaba’s online B2B marketplace model, the platform focuses on consumer electronics, bringing together hundreds of thousands of buyers and sellers worldwide and enabling them to connect directly.

Crab2B covers a broad range of products, including smartphones, tablets, laptops and other smart devices. Listings span brand-new and used devices, as well as certified pre-owned (CPO) and as-is products. The platform also connects buyers and suppliers with service providers offering product inspection, international logistics and repair services. Users can search for products by brand and model, while all merchants undergo rigorous verification before joining the platform. With these safeguards in place, Crab2B is designed to meet the needs of businesses across the value chain, protect the interests of both buyers and sellers, and facilitate mutually beneficial transactions.

Building on Hong Kong’s established trading network, Crab2B made its debut at the HKICEC Global Mobile Exchange Pavilion during the Global Sources Hong Kong Shows, held at AsiaWorld-Expo from October 18 to 21, 2026, where it also launched the Crab2B app. Looking ahead, Crab2B will remain firmly rooted in Hong Kong while expanding its global reach, continuing to refine the platform to deliver a smarter, more comprehensive digital marketplace for mobile electronics. By helping international buyers identify suitable suppliers, simplifying cross-border sourcing and reducing transaction costs, Crab2B aims to support the continued growth of Hong Kong’s digital trade sector and contribute to the city’s long-term prosperity and stability.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/crab2b-debuts-as-hong-kongs-first-dedicated-b2b-platform-for-mobile-electronics-302917652.html

SOURCE CRAB 2B TECHNOLOGY INVESTMENT CO., LIMITED

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AiMOGA Launches Global Robot Innovation: Mobo Debuts from Wuhu, Empowering Homes and Businesses

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KUALA LUMPUR, Malaysia, Oct. 23, 2026 /PRNewswire/ — AiMOGA Robotics has officially launched Mobo, its first consumer-grade humanoid family companion robot, marking a new chapter in intelligent living for Malaysian households and enterprises. Unveiled globally from AiMOGA’s headquarters in Wuhu, China, during a joint international users summit with its sister brands, this groundbreaking product reflects the company’s commitment to worldwide innovation and technological excellence.

Standing 0.9 meters tall with 22 degrees of freedom, Mobo supports over 20 languages—including Bahasa Malaysia—and delivers rich, personalized interactions. Designed for family life, it offers children interactive learning, storytelling, and object recognition, while providing elders with conversational companionship and customizable reminders. Powered by MoAgent, AiMOGA’s embodied intelligence system, Mobo features a dual-brain architecture enabling real-time responses, multi-tasking capabilities, and adaptive learning through facial recognition and secure MogaCloud integration.

Peng Xia, AiMOGA Robotics Executive Vice President, said Mobo’s spatial perception, interaction, execution, decision-making, and cognition layers form a perception-decision-execution-feedback loop. Spatial memory enables object retrieval, while social navigation recognizes pedestrian paths and interaction zones. Multimodal technologies coordinate language, facial expressions, and movement for natural interaction.

Beyond home use, Mobo shows strong potential in professional settings—from customer service to logistics—supporting AiMOGA’s vision of integrating robotics into everyday workflows.

Since its debut in August 2026, Mobo has attracted over 10,000 prospective users. Thirty-five were selected as Global User Experience Officers, receiving one year of complimentary use to help shape future improvements.

At the event, Guibin Zhang, AiMOGA Robotics General Manager, outlined strategies in R&D, cost optimization, sales and leasing. The “Platform Institute + Scenario Institute” model drives validation for bipedal, quadruped, and wheeled robots. Plans include 300 global experience centers and “Jia Tian Xia”, a robot leasing brand launching in Wuhu. Leveraging Chery’s manufacturing and platform resources enhances cost efficiency and scalability.

Notably, AiMOGA’s impact in Malaysia is amplified through strategic collaboration with sister brands Chery, OMODA & JAECOO, iCAUR, and LEPAS. Their partnership extends far beyond vehicle showrooms and daily operations—jointly developing integrated smart ecosystems that span mobility, retail, smart offices, and connected living.

As part of a global rollout with over 3,000 units deployed across 60+ markets, this initiative aims to bring intelligent, accessible robotics to more Malaysian families and businesses—enhancing productivity, convenience, and quality of life.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/aimoga-launches-global-robot-innovation-mobo-debuts-from-wuhu-empowering-homes-and-businesses-302917658.html

SOURCE AiMOGA Robotics

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