Technology

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

Published

1 year ago

December 4, 2024

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

Technology

Baidu to Report First Quarter 2026 Financial Results on May 18, 2026

Published

7 minutes ago

April 23, 2026

BEIJING, April 23, 2026 /PRNewswire/ — Baidu, Inc. (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)) (“Baidu” or the “Company”), a leading AI company with strong Internet foundation, today announced that it will report its financial results for the First Quarter 2026 ended March 31, 2026, before the U.S. market opens on May 18, 2026. Baidu’s management will hold an earnings conference call at 8:00 AM on May 18, 2026, U.S. Eastern Time (8:00 PM on May 18, 2026, Beijing Time).

Please register in advance of the conference call using the link provided below. It will automatically direct you to the registration page of “Baidu Inc. Q1 2026 Earnings Conference Call”. Please follow the steps to enter your registration details, then click “Register”. Upon registering, you will then be provided with the dial-in number, the passcode, and your unique access PIN. This information will also be emailed to you as a calendar invite.

For pre-registration, please click:
https://s1.c-conf.com/diamondpass/10054331-iu876y.html

In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), the passcode and unique access PIN) provided in the calendar invite that you have received following your pre-registration.

Additionally, a live and archived webcast of this conference call will be available at https://ir.baidu.com.

A replay of the conference call may be accessed by phone at the following number until May 25, 2026:
US: 1 855 883 1031
Reply PIN: 10054331

About Baidu

Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on Nasdaq under “BIDU” and the HKEX under “9888.” One Baidu ADS represents eight Class A ordinary shares.

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SOURCE Baidu, Inc.

Technology

Phase 1 of 139th Canton Fair Introduces New Dedicated Product Zones as Emerging Technologies Take Center Stage

Published

7 minutes ago

April 23, 2026

GUANGZHOU, China, April 23, 2026 /PRNewswire/ — The 139th China Import and Export Fair (Canton Fair) has further optimized its exhibition landscape with nine new dedicated product zones, reflecting ongoing structural shifts in global trade and the continued upgrading of China’s export portfolio.

Among the most closely watched additions in Phase 1 are the consumer and agricultural drone zones, both making their debut at the Canton Fair and offering a focused showcase of applications in the low‑altitude economy. The consumer drone zone showcases progress in flight control, AI‑based obstacle avoidance and energy efficiency across imaging, tourism, emergency response and patrol. The agricultural drone zone highlights precision farming, with spraying, seeding and field‑management demonstrations showing terrain‑following, intelligent route planning, and precise payload control.

On day one, a Shandong‑based drone manufacturer welcomed buyers from 30+ countries, with over 50 strong leads. One buyer, after seeing load and wind‑resistance demonstrations, immediately confirmed three sample units and even proposed becoming a regional distributor.

Display technology is another focal point of Phase 1, highlighting advances in color accuracy, energy efficiency, and overall visual performance. Developments in fine‑grained control, expanded color gamut, and reduced power consumption point to a clear trend toward immersive viewing experiences combined with sustainability gains.

The smart wearables zone underscores how intelligent devices are becoming key interfaces for human‑machine interaction. From real‑time language translation and adaptive noise cancellation to long‑term health monitoring and AI‑enabled eyewear, wearables are evolving from standalone products into integrated systems that support communication, well‑being, and productivity across daily and professional settings.

The service robots zone further illustrates how artificial intelligence is moving from conceptual exploration to large‑scale deployment. Advanced robots showcased across industrial, commercial, medical, and public‑service scenarios demonstrate growing autonomy, multi‑sensory perception, and closer human-robot collaboration.

By bringing emerging technologies into clearer focus through dedicated zones, the 139th Canton Fair is reinforcing its function as a platform where trade trends take shape, innovation meets application, and global buyers gain early insights into cutting-edge technologies.

For pre-registration, please click: https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

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Technology

OZMOSI Announces Strategic Partnership with Planview to Advance AI-Driven Planning in Pharmaceutical R&D

Published

7 minutes ago

April 23, 2026

By combining structured clinical intelligence with AI-driven portfolio planning, the partnership gives pharmaceutical teams a faster, clearer way to make high-stakes R&D decisions

SPRING LAKE HEIGHTS, N.J., April 23, 2026 /PRNewswire/ — OZMOSI, a leading provider of structured pharmaceutical development intelligence, today announced a strategic partnership with Planview, the leading AI-powered end-to-end platform for Strategic Portfolio Management (SPM) and Digital Product Delivery (DPD).

By integrating OZMOSI’s machine-readable clinical datasets directly into Planview’s AI-driven portfolio planning platform, external scientific data is now connected to internal R&D planning in one system, helping pharmaceutical organizations better predict market shifts, prioritize R&D investments, and make faster, more confident decisions.

This integration brings external clinical reality into internal R&D decision-making, so teams can plan based on what’s actually happening, not just on what they hope will happen.

The two organizations combine deep expertise in complementary areas, united by a shared focus on improving the quality and usability of data for strategic decision-making. OZMOSI provides structured, machine-readable intelligence across clinical trials, drug development programs, regulatory activity, and scientific literature, built on a consistent taxonomy that standardizes how data is connected and understood. Planview’s platform enables organizations to model complex investment scenarios, align initiatives with corporate strategy, and optimize resource allocation.

Together, these capabilities give teams a clearer, more complete view of the R&D landscape, grounded in clean, standardized data and strengthened by AI-driven analysis.

“AI is only as powerful as the data that fuels it,” said Beau Bush, President and Founder of OZMOSI. “Pharmaceutical organizations have no shortage of data, but too often it’s fragmented, inconsistent, and difficult to operationalize. By bringing OZMOSI’s structured data foundation together with Planview’s AI-driven planning capabilities, we’re enabling teams to move beyond disconnected analysis and toward truly integrated, forward-looking decision-making.”

“Strategic planning in pharmaceutical R&D is becoming increasingly dependent on advanced analytics and AI,” said Louise Allen, Chief Product Officer at Planview. “Integrating OZMOSI’s clinical intelligence into Planview’s platform enables pharmaceutical leaders to make better decisions by combining trusted external data with AI-driven planning

OZMOSI’s dataset spans more than 800,000 clinical trials, over 35,000 drugs, and 4,000 diseases and conditions. It brings together insights from clinical trial registries, regulatory filings, scientific literature, company disclosures, and industry announcements into a unified, structured dataset.

When integrated into Planview’s platform, this intelligence enables pharmaceutical and biotech organizations to evaluate competitive landscapes, identify emerging clinical trends, and simulate portfolio outcomes with unprecedented precision.

Together, OZMOSI and Planview are redefining how pharmaceutical organizations approach R&D strategy, ensuring that investment decisions are guided by accurate, standardized, and AI-ready data. By combining internal portfolio visibility with a continuously updated external view of the market, the partnership helps leaders not only understand what they have, but what to do next.

About OZMOSI

Founded in 2013, OZMOSI specializes in transforming complex pharmaceutical R&D intelligence into structured, machine-readable data. The company provides the foundation needed for accurate competitive analysis, product forecasting, and portfolio strategy. Through its proprietary taxonomy and semantic layer, OZMOSI connects fragmented data across the pharmaceutical ecosystem, enabling faster, more confident decision-making for global pharma, biotech, and investment teams.

Based in Spring Lake Heights, New Jersey, OZMOSI is focused on making pharmaceutical intelligence clear, usable, and ready for the future of AI-driven strategy. Learn more at www.ozmosi.com.

About Planview

Planview is the leading end-to-end platform for Strategic Portfolio Management (SPM) and Digital Product Delivery (DPD), powered by advanced AI capabilities that give business and technology leaders the strategic foresight to prioritize investments and initiatives, make plans real within constraints, and pivot with certainty when things change. Our AI-driven connected platform of solutions underpins the business and digital transformations of more than 3,000 customers and 3.1 million users globally. Headquartered in Austin, Texas, Planview has over 1,500 employees worldwide. Learn more at www.planview.com.

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SOURCE Ozmosi Company