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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.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

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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TrailIntel Acquires GPS Trailmasters Software Platform to Advance Next-Generation Outdoor Navigation

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32 minutes ago

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April 23, 2026

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This advancement significantly expands the capabilities available to riders, introducing a more powerful, connected, and scalable navigation experience across Garmin, Mobile and Web.

STRONG, Maine, April 23, 2026 /PRNewswire-PRWeb/ — TrailIntel, the industry’s leading vertically integrated outdoor technology platform, today announced the acquisition and integration of GPS Trailmasters’ Garmin and mobile software products. This milestone builds on the longstanding relationship between the two companies and marks a significant step forward in delivering a more connected, intuitive, and scalable navigation experience for outdoor enthusiasts across North America.

“This is a major leap forward for outdoor recreation,” said Brian Gavin, Co-Founder of TrailIntel. “We’re preserving trusted mapping while delivering a more connected, simplified navigation experience on and off the trail.”

For over 18 years, GPS Trailmasters has been a trusted leader in electronic trail mapping, known for delivering highly accurate and reliable data to riders throughout the Northeastern United States. By integrating this proven dataset into TrailIntel’s modern platform, the combined solution introduces enhanced functionality, real-time capabilities, and a streamlined user experience across both Garmin and mobile devices.

TrailIntel’s mission is to deliver a complete, easy-to-use platform that connects planning, navigation, real-time trail conditions, and community engagement—enhancing safety, simplifying operations, and improving the outdoor experience.

“The evolution of GPS Trailmasters into TrailIntel represents a major leap forward for the outdoor recreation industry,” said Brian Gavin, Co-Founder of TrailIntel. “We’re preserving the trusted mapping foundation riders rely on, while introducing a more powerful, connected experience that simplifies navigation and expands what’s possible both on and off the trail.”

As part of the transition, Eric Murphy, owner of GPS Trailmasters, joins TrailIntel as Chief Geospatial Officer, where he will lead mapping strategy, expansion, and ongoing data development across all supported regions. “I’ve always believed in building high-quality maps and strong relationships within the riding community,” said Murphy. “With TrailIntel, we’re able to take everything GPS Trailmasters has built and scale it nationally, while continuing to deliver the same level of quality, service, and trust our customers expect.”

What This Means for Riders. The integration delivers a seamless upgrade for existing GPS Trailmasters customers, while introducing new capabilities across the TrailIntel platform: for Garmin users: simplified installation and map updates, expanded device compatibility, automatic route syncing from TrailIntel, streamlined experience with no third-party software required.

For Mobile Users: Real-time trail updates and conditions, offline navigation and breadcrumb tracking, turn-by-turn routing, community-driven insights and shared content advancing the outdoor experience.

The combination of GPS Trailmasters’ trusted mapping data with TrailIntel’s modern technology platform creates a comprehensive solution designed to serve the entire outdoor ecosystem: riders gain better planning tools, safer navigation, and more confidence on the trail. Clubs benefit from improved tools to manage, maintain, and grow their trail systems. Businesses and communities gain increased visibility and new opportunities driven by outdoor tourism

A key initiative of TrailIntel is continuing to support the organizations that sustain outdoor recreation, including opportunities to drive engagement and funding back to local clubs and trail systems.

Expanded Role for GPS Trailmasters. GPS Trailmasters will continue to operate under its brand, taking on an expanded role focused on nationwide hardware distribution and support, including: garmin device sales, ride Ready tablets, mounting systems and accessories.

This evolution allows GPS Trailmasters to extend its reach beyond the Northeast while supporting the growing demand for integrated hardware and software solutions.

A Pivotal Moment for Outdoor Recreation. The integration represents a long-term investment in the future of outdoor navigation, one that prioritizes accuracy, usability, and real-time connectivity. By combining legacy expertise with modern technology, TrailIntel is redefining how riders discover, plan, and experience the outdoors.

About TrailIntel:

TrailIntel is the industry’s first vertically integrated outdoor technology platform, designed to connect riders, clubs, businesses, and first responders through mapping, navigation, and real-time data. The platform delivers a seamless experience across mobile, web, and Garmin devices, helping users plan smarter and explore with confidence. For more information about TrailIntel, visit www.trailintel.com and follow along on Facebook and Instagram at @TrailIntel.

About GPS Trailmasters:

GPS Trailmasters has been a trusted provider of trail mapping technology for over 18 years, delivering high-quality GPS-based navigation solutions for snowmobile and ATV riders. The company will continue operations as a leading hardware provider supporting the TrailIntel ecosystem. For more information about GPS Trailmasters, visit www.gpstrailmasters.com and follow along on Facebook.

Media Contact

Brian Gavin, Trailintel, 1 207-241-4745, brian@trailintel.com, trailintel.com

View original content:https://www.prweb.com/releases/trailintel-acquires-gps-trailmasters-software-platform-to-advance-next-generation-outdoor-navigation-302750997.html

SOURCE Trailintel

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Z3 Technology Enables Rapid Project Development with the EXOSENS MicroCube XP Thermal Cores

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32 minutes ago

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April 23, 2026

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LINCOLN, Neb., April 23, 2026 /PRNewswire/ — Z3 Technology, LLC, a leader in embedded camera encoding systems, today announces the release of our CIB-EX22 Camera Interface Board, which enables direct control and power to the EXOSENS MicroCube 640 XP shutterless thermal camera from Z3 OEM Video Encoder solutions through an LVDS digital video output connector, via 30-pin KEL cable. Jumpstart your camera system development with Z3’s cutting-edge hardware encoding technology for real-time video streaming.

Designed for efficiency and performance, our video encoders combine top-tier video compression and ultra-low bandwidth usage into a solution consuming <5W of power. Full camera and encoder control is available through serial or remote APIs, while multiple UART and GPIO interfaces enable seamless integration with external devices such as pan/tilt mounts, heater and wiper triggers, GPS, and range finders. User custom development is supported through our comprehensive SDK and OEM Starter Kits, allowing for rapid adaptation of evolving mission requirements. Hardware Specification documents, 3D model files, and interface schematics are available upon request to accelerate development progress. Z3 Technology solutions support simultaneous video streaming and recording across a wide range of camera models, delivering flexible, reliable video performance at the tactical edge.

“Z3 Technology is excited to announce our support of EXOSENS MicroCube XP series of shutterless thermal camera cores. Our new CIB-EX22 will enable seamless integration and control via our series of Z3 OEM Video Encoders for numerous markets including unmanned vehicles, security, surveillance, and remote sensing,” said Aaron Caldwell CEO of Z3 Technology, LLC.

Our miniature Q603 product line is the perfect platform to compliment efforts that the EXOSENS team has shown, considering the minimal footprint design of the MicroCube 640 XP. Development teams contemplating the addition of a 2nd thermal sensor or a visible zoom block camera should look no further than our FV2K and FV4K models, which have an additional video input for dual camera streaming up to 4Kp30. Proven product applications include camera systems in industries like Security & Surveillance, Unmanned Systems, and Military Video Solutions.

“In a win-win approach, this first bundle CIB-EX22 / MicroCube 640 XP values the true SWaP approach of EXOSENS LWIR thermal cores, required for highly integrated electro-optic systems,” said Mr. Guillaume Bunoz, Executive General Manager of EXOSENS Advanced Imaging Business Unit. “Microcube XP features many USPs (e.g. 1pt-NUC shutterless, tunable functions, OSD, low latency) that make it successful, especially in UAS market segment. This bundle with Z3 enables users to easily implement the DV CMOS 16 bits variant, beside the existing popular MIPI and UVC product versions of the MicroCube 640 XP.”

Explore What’s Possible with Z3 Technology
All Z3 video solutions are Made in the USA and fully compliant with NDAA, TAA, REACH, and RoHS requirements. Product design and manufacturing are performed by Z3 Technology, LLC, an ISO 9001–certified manufacturer.

Z3’s flexible embedded video encoder solutions can help power your next innovation. Learn more about our hardware encoding solutions and contact us to discuss your integration needs.

For more information on Z3 Technology’s SD to 4K Embedded Encoders and Camera Solutions, contact us today. Email sales@z3technology.com or visit our website at https://z3technology.com/products/oem/ to explore available options.

All product and company names mentioned within are trademarks™ or registered® trademarks of their respective owners.

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CareScout Joins Ensight™ Intelligent Quote LTC & Life Marketplace

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April 23, 2026

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Ensight, a leading digital sales acceleration platform for life, long-term care (LTC), and annuity insurance, today announced that CareScout Care Assurance, the inaugural long-term care insurance solution from CareScout Insurance Company (CareScout), is now available on its Intelligent Quote Platform.

SAN DIEGO, April 23, 2026 /PRNewswire-PRWeb/ — Ensight, a leading digital sales acceleration platform for life, long-term care (LTC), and annuity insurance, today announced that CareScout Care Assurance, the inaugural long-term care insurance solution from CareScout Insurance Company (CareScout), is now available on its Intelligent Quote Platform. This partnership marks a significant milestone for CareScout, signaling its rapid growth and commitment to a more integrated model for planning, finding, and funding care.

“By expanding access to Care Assurance through the Ensight platform, we’re making it easier for families to plan, navigate, and pay for long-term care in a more connected way.”

CareScout Care Assurance is a simple, personalized LTC insurance solution designed to help protect clients and their families from future care costs. When choosing CareScout, policyholders gain access to a unified ecosystem that brings together financial protection, expert guidance, and connections to trusted care providers – supporting families across every stage of the aging journey.

“CareScout represents an important and unique value-added addition to the growing range of solutions available in the long-term care market,” said Bill Unrue, CEO of Ensight. “We are thrilled to add the CareScout Care Assurance solution to the Ensight Intelligent Quote marketplace, providing distributors and financial professionals access to a holistic insurance product that expands the value of financial protection with additional integrated services.”

A modern LTC solution built for families, not just policyholders:

Care Assurance connects policyholders and their families to CareScout’s platform, helping them navigate care decisions, identify quality providers, and access trusted resources. This integrated approach reflects CareScout’s belief that insurance alone is incomplete without services, and that families benefit most when coverage, navigation, and support are unified.

“Families don’t experience aging or caregiving in silos,” said Samir Shah, CEO of CareScout. “By expanding access to Care Assurance through the Ensight platform, we’re making it easier for families to plan, navigate, and pay for long-term care in a more connected way.”

Supporting advisors in a changing long-term care landscape:

Ensight’s Intelligent Quote Platform enables financial professionals to efficiently illustrate and compare life, LTC, and annuity products while supporting more informed client conversations. With the addition of CareScout Care Assurance, Ensight’s growing distributor community gains access to an innovative solution built for today’s realities: rising longevity, increasing caregiving responsibilities, and families seeking clarity across planning, care, and funding.

About Ensight™

Ensight™ is the leading cloud-based insurance sales acceleration platform for more than 500 life, long-term care (LTC) and annuity distributors, thousands of financial professionals, as well as many of the largest North American insurance carriers. Headquartered in San Diego, California, Ensight helps drive sales growth and productivity, while addressing the entire sales lifecycle experience – from prospect to policyholder, new business to inforce.

To learn more about Ensight, visit https://www.ensightcloud.com/

About CareScout

CareScout helps older adults and their families navigate the aging journey, find, and fund quality care. Inspired by a mission to simplify and dignify the aging experience, we’re building an integrated ecosystem of care and funding solutions. To learn more about CareScout, visit www.CareScout.com. CareScout is a wholly owned subsidiary of Genworth Financial, Inc. (NYSE: GNW). CareScout is the marketing name for CareScout Holdings, Inc., its affiliates and entities. Affiliates and entities are solely and separately responsible for their own financial and contractual obligations.

Media Contact
Matt Essick, Ensight, 1 (619) 430-0587, messick@ensightcloud.com, https://ensightcloud.com
Evans Mandes, CareScout, 1 804-629-6582, evans.mandes@carescout.com, https://www.carescout.com/ 

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