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Smart Home Market to expand by USD 188.3 Billion (2024-2028), driven by rising interest in home automation, with a report on AI-driven transformation – Technavio

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NEW YORK, Dec. 4, 2024 /PRNewswire/ — Report with the AI impact on market trends – 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..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Home entertainment, Smart appliances, Energy management, Lighting control system and HVAC, and Safety and security system), Technology (Wireless and Wired), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

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

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.

Key Market Trends Fueling Growth

The smart home market is experiencing significant growth, driven by trends in home monitoring, energy-saving, and convenience. The smart home industry offers various solutions, including safety and security systems, lighting and temperature control, audio/video systems, and access control. Smart home devices, such as lighting controllers, cameras, and intrusion detection systems, are becoming increasingly popular. Compatibility issues with different IoT platforms and devices are being addressed through proactive software and behavioral versions. Modular kitchens, house batteries, high-power solar inverters, smart electrical panels, EV chargers, and connected electrical outlets are also gaining traction. The market is witnessing the integration of AI and machine learning into various appliances, including smartphones, digital assistants, and virtual assistants. However, cyberattacks and security threats are concerns for standalone smart devices. IoT connections and 5G technology are enabling the integration of various smart devices, from smart speakers and Bluetooth speakers to smart TVs and entertainment centers. Semiconductors are a critical component in the development of these devices. The smart home market caters to the needs of over 4.5 billion Internet users, offering solutions for energy management, home automation, and security. Smart features are now common in appliances, from smart thermostats and smart sprinkler systems to smart bulbs and smart meters. Carbon emission reduction is a key focus area, with smart composters and smart power strips helping homeowners save energy. Security cameras, Wi-Fi, and Bluetooth are essential technologies for smart home systems, ensuring peace of mind for homeowners. 

The smart home market is experiencing significant growth, attracting numerous vendors to form strategic partnerships. Smart home product and system manufacturers collaborate with technology providers and home automation platform providers to ensure interoperability with other solutions. In April 2022, Samsung Electronics announced a partnership with ABB Group to expand the reach of Samsung SmartThings integration. Such collaborations increase, contributing to the expansion of the smart home market. 

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Market Challenges

The smart home market is experiencing rapid growth as more consumers seek home monitoring, energy-saving solutions, and enhanced convenience. The smart home industry offers safety and security through intrusion detection systems, access control, and smart surveillance systems. Lighting and temperature control, as well as audio/video systems, provide added comfort and entertainment. Compatibility issues with various IoT devices, such as modular kitchen appliances, house batteries, high-power solar inverters, smart electrical panels, and EV chargers, can be challenging. Proactive software, behavioral versions, and machine learning technologies help address these issues. Cyberattacks and security threats are concerns for standalone smart devices like cameras, smart lights, streaming devices, dishwashers, and smart TVs. IoT platforms, 5G technology, and semiconductors play a crucial role in connecting and powering these devices. Home automation and control systems require smartphones, digital assistance, and virtual assistants for seamless integration. Bluetooth speakers and blockchain technology add to the market’s diversity. Carbon emission reduction is a growing focus, with smart thermostats, smart sprinkler systems, smart bulbs, smart meters, smart composters, and smart power strips leading the way.The global smart home market is experiencing significant growth, with vendors focusing on creating dependable home automation solutions for various applications, including energy management, lighting control systems, home entertainment, HVAC, smart appliances, and safety and security systems. To meet the increasing demand for smart home systems and products, vendors are consistently upgrading their offerings to maintain a competitive edge. However, compatibility issues between smart home devices can negatively impact both customers and manufacturers. Some devices have encountered challenges with Wi-Fi connectivity, video feed, and video streaming. The absence of connectivity can adversely affect product performance, leading to video streaming problems. Vendors are working diligently to address these concerns and ensure seamless integration of their devices for optimal user experience.

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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 home entertainment segment leads the global smart home market, driven by the widespread adoption of digital voice assistants or smart speakers. Smart speakers, such as Amazon Echo and Google Home, have revolutionized voice user interfaces, offering an easily accessible, user-friendly interface for entertainment and information retrieval. Applications include music playback, games, answering queries, weather updates, and setting alarms. Notable vendors like Alphabet, Amazon, IKEA Systems, Harman International, and SONOS are capitalizing on this trend, launching innovative products like Amazon’s Echo Pop and Google’s Nest Hub. In the realm of smart TVs, advancements in technology have led to features like on-demand content, internet browsing, voice or gesture control, and socializing in real-time. Key players like Xiaomi, Samsung, BBK Electronics, Sony, and LG are responding with innovative product launches, such as OnePlus’ new Android smart TV and Xiaomi’s Smart TV X series. These developments and the increasing demand for home entertainment systems will fuel the growth of the smart home market through the home entertainment segment.

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Research Analysis

The smart home market is experiencing rapid growth as more and more Internet users embrace the convenience, safety, and energy-saving benefits of IoT-connected devices. From home monitoring systems that keep an eye on temperature, lighting, and energy usage to advanced security systems that detect intrusions and provide real-time alerts, the smart home industry is revolutionizing the way we manage our homes. Smart lighting and temperature control systems offer energy savings and added convenience, while audio/video systems and streaming devices bring entertainment right into the living room. Smart home devices, including cameras, dishwashers, and even refrigerators, are being integrated with AI and machine learning capabilities to provide personalized experiences and automate daily tasks. However, with the increasing number of IoT connections, cybersecurity threats and potential cyberattacks are a growing concern. 5G technology is expected to further boost the growth of the smart home market by enabling faster and more reliable connectivity for IoT devices. Virtual assistants and digital assistance on smartphones and smart speakers add an extra layer of convenience, allowing users to control their homes with voice commands. The future of the smart home industry looks bright, with endless possibilities for innovation and integration of new technologies.

Market Research Overview

The smart home market is a rapidly growing industry that focuses on enhancing home living through technology. It offers various solutions for home monitoring, energy-saving, and convenience. Smart home systems include safety and security features such as intrusion detection, access control, and home automation control systems. Lighting and temperature control are essential components, along with audio/video systems and compatibility with various IoT devices. Smart homes utilize proactive software, machine learning, and artificial intelligence for behavioral versions. Modular kitchens, house batteries, high-power solar inverters, smart electrical panels, EV chargers, and connected electrical outlets are part of the energy-saving solutions. The market includes smart speakers, modular switches, and Internet users connected through IoT platforms. IoT devices, such as cameras, smart lights, streaming devices, dishwashers, and smartphones, offer digital assistance and virtual assistants. 5G technology and semiconductors enable faster connectivity and advanced functionality. However, cyberattacks and security threats are concerns, requiring security measures. Standalone smart devices like smart bulbs, smart meters, smart composters, smart power strips, and security cameras offer various smart features. Wi-Fi and Bluetooth connectivity are common for most devices. The smart home market encompasses various smart devices, including smart TVs, entertainment centers, and even smart surveillance systems. Carbon emission reduction is a priority, with smart thermostats, smart sprinkler systems, and smart bulbs contributing to energy efficiency. Smart home systems aim to provide a more convenient, secure, and energy-efficient living experience.

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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KarbunWise Introduces Fast, Cost-Effective LCA Platform for the LEED v5 Era at Greenbuild 2026 in New York

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NEW YORK  , Oct. 23, 2026 /PRNewswire/ — As global property developers, architects, and manufacturers face rigorous new green building standards and cross-border carbon scrutiny, KarbunWise, an enterprise climate technology and advisory firm, announced its formal participation in the Greenbuild International Conference + Expo 2026 in New York City.

Exhibiting under this year’s Greenbuild theme, “Invest for Impact,” KarbunWise has launched a modern, cost-effective software to enable real estate developers, AEC (Architecture, Engineering, and Construction) firms, and industrial manufacturers to automate complex Life Cycle Assessments (LCA) and Environmental Product Declarations (EPDs) with verifiable, audit-grade accuracy.

With the rollout of LEED v5, Whole-Building Life Cycle Assessments (WBLCA) and embodied carbon tracking have evolved from optional bonus credits into non-negotiable prerequisites. This is likely to scale the adoption of LCAs, and KarbunWise offers an alternative to legacy incumbent players that are expensive and not customer-centric. KarbunWise’s product translates Building Information Modeling (BIM) data and factory-floor inputs directly into submission-ready WBLCA models (aligned with MRp2 and MRc2 credits).

Representing KarbunWise at the Jacob K. Javits Convention Center were the founders, Arjun Vijayaragavan and Divya Sukumar. “For years, carbon accounting and life cycle assessments were treated as passive, check-the-box exercises. Today, with LEED v5 mandating embodied carbon baselines and global supply chains enforcing strict transparency, carbon data has become commercial infrastructure. Bringing our platform to North America at Greenbuild marks a pivotal step in our mission to make sustainability data as trusted and audit-ready as financial data for 10,000 enterprises worldwide.” said Arjun Vijayaragavan, Founder & CEO of KarbunWise.

To accelerate adoption across US project teams, KarbunWise also announced a major Greenbuild show initiative: free first-year platform access for qualifying architecture firms, consultants, and developers visiting Booth #1044 during expo, backed by continuous 24/7 technical support from certified LCA practitioners.

Already trusted by more than 100 organisations across the UK, Middle East, and India, including listed conglomerates, leading bedding manufacturers, and global infrastructure contractors, KarbunWise’s platform connects over 200,000 verified LCA datapoints across international databases, including USLCI, Ecoinvent, and ÖKOBAUDAT.

About KarbunWise:

Founded in 2023, KarbunWise is an enterprise climate technology and advisory firm building the trust layer for global sustainability. The company combines an integrated, cloud-based software platform with deep consulting expertise to transform complex carbon and ESG data into audit-ready proof for regulators, enterprise buyers, and investors.

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SOURCE KarbunWise

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Curios Launches Video-on-Demand Tools for Filmmakers as Vimeo On Demand Shuts Down

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The direct-to-fan marketplace gives independent filmmakers a new home to sell films, series, and memberships, with help migrating from Vimeo

AUSTIN, Texas, Oct. 23, 2026 /PRNewswire-PRWeb/ — Curios, the direct-to-fan entertainment marketplace, has launched a full set of video-on-demand tools for independent filmmakers and video creators. The launch gives creators affected by the closure of Vimeo On Demand a new place to sell their work directly to audiences, keep their sales revenue, and hold on to the customer relationships they have spent years building.

Vimeo is phasing out its On Demand service in stages. New uploads were blocked on August 22, 2026, and new purchases and subscriptions stopped on September 21, 2026. Final seller payouts were processed on September 24, and the platform will shut down completely on November 20, 2026. On that date, all Vimeo On Demand storefronts and purchase pages go offline, and viewers lose access to the films and series they previously bought or rented.

For filmmakers, the impact is immediate. Sales have already stopped, so every week without a new storefront means lost revenue. And with Vimeo only allowing sellers to export buyers who opted in to updates, many creators risk losing touch with a large part of their audience.

“Every time a platform shuts down, creators get a painful reminder that they never really owned their audience,” said Grant Powell, founder of Curios. “Filmmakers on Vimeo On Demand did everything right, and they’re still losing their storefront. We launched Curios so that can’t happen. You sell directly, you keep your revenue, and every buyer’s contact details are yours to keep, whatever happens next.”

A complete home for independent film

Curios gives filmmakers flexible ways to sell, including full support for TVOD and SVOD, with possible plans for AVOD in the future. Creators can sell titles to own permanently (Electronic sell-through / EST), for one-time rental (Download-to-rent / DTR), offer pay-per-view (PPV) access for events and premieres, and run subscription memberships covering an entire catalog, a single series, or selected titles.

Pre-orders, timed releases, and limited quantities help build excitement around a launch. Bundles and deluxe editions, automated upsells and cross-sells, coupons, and an affiliate program help filmmakers grow each sale and reach new audiences. Free claims let creators give away trailers, extras, or short films in exchange for viewers’ email addresses.

Filmmakers decide whether each title is streaming-only or downloadable. Buyers watch in the Curios mobile app, where films and series sit alongside ebooks, audiobooks, and music. To help creators get started, Curios has also published pricing guidance for film, suggesting typical ranges of $9.99 to $29.99 for titles sold to own.

Better economics and full access to buyers

Curios takes no commission on sales, so creators keep their full sale price. They pay for platform access through a Curios subscription, with a free plan available and no credit card required to sign up. As merchant of record, Curios collects and files sales tax and VAT worldwide, removing a major administrative burden for independent creators.

Filmmakers on Curios receive the contact details of every buyer, along with sales, traffic, and viewing analytics, so they can see how audiences engage with their work and market future releases directly.

Moving from Vimeo On Demand in three steps

Curios has published an automatic importer, and a step-by-step migration guide for Vimeo On Demand sellers. Filmmakers simply connect with Vimeo account to Curios, then Curios automatically migrates their original files, trailers, extras, and artwork directly from Vimeo. Finally, they replace their old Vimeo On Demand links with a single Curios link and let their fans know where to find them.

Curios will also import a filmmaker’s existing Vimeo buyers who opted in to updates. Imported customers will find the films they already own waiting in their Curios library, ready to watch, so viewers who were about to lose access can keep enjoying the work they paid for. Customer lists from other platforms can be imported as well.

Curios is continuing to expand its video tools, with caption and subtitle uploads, region restrictions, country-specific pricing, and smart TV apps currently in development.

Filmmakers can create a free account and read the full migration guide at studio.curios.com.

About Curios

Curios is a direct-to-fan entertainment and content marketplace helping creators publish, promote, sell, and distribute their work directly to audiences. Built for authors, musicians, filmmakers, comedians, and creators of all kinds, Curios supports digital and physical formats in one place.

Creators keep 100% of every sale, retain full ownership of their work, and get direct access to customer data. As merchant of record, Curios handles sales tax, along with customer support, content delivery, fraud disputes, and fast payouts, giving creators the infrastructure to sell direct without having to build it themselves.

Media Contact

Grant Powell, Curios, Inc, 1 3102952129, support@curios.com, https://www.curios.com

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SOURCE Curios, Inc

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Violet PR Wins Five PRSA-NJ Awards for Campaigns Driving Economic Growth and Innovation

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Award-winning media relations initiatives generated hundreds of news stories for clients

MONTCLAIR, N.J., Oct. 23, 2026 /PRNewswire/ — Violet PR, a national public relations agency specializing in economic development and place branding, has earned five awards from the Public Relations Society of America’s New Jersey Chapter (PRSA-NJ). Together, the campaigns generated more than 425 earned media placements in national, international, regional and niche outlets.

The winning programs ranged from launching a major fitness facility and promoting the growing film industry in New Jersey to showcasing Pittsburgh International Airport’s new terminal, navigating international trade uncertainty in Topeka, Kan., and positioning the Brooklyn Navy Yard as an innovation hub.

“These awards reflect the range of challenges our team helps clients navigate – including building support for emerging industries and elevating major infrastructure investments,” said April Mason, CEO and founder of Violet PR. “Whether we’re promoting a new airport terminal or helping a community navigate international trade uncertainty, our job is to uncover the stories that matter, connect them with influential audiences and deliver results that support our clients’ broader goals.”

For the New Jersey Economic Development Authority (NJEDA), Violet PR’s “Hollywood East: New Jersey Takes Center Stage” campaign earned PRSA-NJ recognition in the “Community Relations” category. Working with the New Jersey Motion Picture & Television Commission and NJEDA, the agency helped build support for the state’s expanding film and television industry by highlighting its economic impact, career opportunities and benefits for local businesses and communities. Over 10 months, the campaign generated 38 earned media placements and more than 336 million impressions.

Violet PR also earned an “Events” award for “Building More Than Muscle: Launching a New Jersey Success Story,” developed for Iron Culture’s new flagship gym in West Orange, N.J. The campaign promoted the grand opening of the $10 million fitness facility, bringing together elected officials, business leaders and community members while generating 45 earned media placements.

The Montclair, N.J.-headquartered agency also won a “Media Relations” award for its campaign, “Brooklyn Navy Yard: From Shipyard to Innovation Engine,” which spotlighted the historic waterfront campus’s transformation into a hub for advanced manufacturing, entrepreneurship and innovation. The campaign generated 85 earned media placements, reaching an audience of 662 million.

The agency’s national work was recognized as well. The “Ready for Takeoff: Commemorating Pittsburgh’s New Airport Opening (2025)” campaign for Pittsburgh International Airport (PIT) earned an award in the “Public Affairs” category. Violet PR executed a strategic communications campaign surrounding the opening of PIT’s new terminal, securing more than 200 earned media placements across national news, business, travel and aviation outlets, with a combined audience reach exceeding 525 million.

In Topeka, Kan., Violet PR’s “The U.S. City Bridging Borders: How Topeka Tackled Tariffs” campaign was recognized in the “PR on a Shoestring Budget” category. As rising U.S.-Canada tariffs threatened up to 20% of local jobs, the agency transformed a complex international trade issue into a compelling story about the economic ties between Kansas and Canada. With a budget of just $10,000 over two months, the campaign secured 57 media placements, with an estimated reach of 224 million.

“What makes these awards especially meaningful is that they recognize five very different campaigns, each requiring a tailored strategy, creative thinking and close collaboration with our clients,” said Christina Forrest, vice president, Violet PR. “We take pride in developing strategic campaigns that deliver meaningful results for our clients, and we’re grateful to PRSA-NJ for the honor.”

The PRSA-NJ Pyramid Awards recognize excellence in public relations and communications, honoring the strategy, creativity and impact of agencies and in-house teams across New Jersey and beyond.

Violet PR continues to earn national recognition for its growth and economic development industry expertise. The agency ranked No. 96 on O’Dwyer’s 2026 list of independent public relations firms following 22.6% year-over-year growth in 2025 and has appeared on the Inc. 5000 list for three consecutive years. Violet PR opened its second office in New York City this year.

About Violet PR

Violet PR is an award-winning public relations firm, recognized nationally as a top agency specializing in economic development, commercial real estate and place branding. The agency partners with cities, states, regions, developers, destinations and mission-driven organizations to build visibility through earned media, thought leadership, social media and strategic storytelling.

Founded in 2010, Violet PR helps clients attract investment, business growth, visitors and talent through earned media campaigns. For more information, visit www.violetpr.com.

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SOURCE Violet Public Relations

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