Smart Home Services Industry Overview

The global smart home services market size was valued at USD 5.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.2% from 2022 to 2028. 

The increasing adoption of cognitive systems in smart homes is increasing demand for installation and maintenance services thereby driving the expansion in the industry. Moreover, the growing demand for the preference of energy management solutions is expected to propel the market size. The COVID-19 outbreak has positively impacted the business growth over time. The smart home services market has witnessed a considerable surge due to the introduction of various new features among smart home devices, which has increased the installation and maintenance services during the COVID-19 pandemic.

Gather more insights about the market drivers, restrains and growth of the Global Smart Home Services Market