Technology
Europe Smart Home Market to Reach $67.5 Billion by 2031–Exclusive Report by Meticulous Research®
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2 months agoon
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REDDING, Calif., March 18, 2025 /PRNewswire/ — According to a new market research report titled ‘Europe Smart Home Market by Product Type (Smart Lighting Systems, Smart Speakers, Smart Security & Monitoring Systems, Smart HVAC Control), Protocol Standard (Wireless Protocols, Wired Protocols, Hybrid Protocols) Forecast to 2031′, published by Meticulous Research®, the Europe smart home market is projected to reach $67.5 billion by 2031, at a CAGR of 13.9% from 2024 to 2031.
The growth of the Europe smart home market is driven by the rising need for home safety & security, increasing government initiatives promoting the adoption of smart technologies, and the wider proliferation of Internet of Things (IoT) technologies. However, High procurement costs restrain the growth of this market to some extent.
Furthermore, consumers’ need for complete flexibility & customization is expected to generate growth opportunities for market stakeholders. However, data privacy & security concerns and smart home solutions’ compatibility with existing infrastructure are major challenges in the Europe smart home market.
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Increasing Government Initiatives Promoting the Adoption of Smart Technologies
Governments in Europe are actively promoting the adoption of smart home technologies to address challenges such as energy efficiency and sustainability and improve the quality of life for citizens. These initiatives are driven by a combination of environmental goals, economic strategies, and technological innovation. Regional governments are encouraging the use of smart home technologies that optimize energy use, such as smart thermostats, automated lighting, and energy-efficient appliances. Countries such as Germany have introduced financial incentives, such as grants and tax rebates, to support the adoption of energy-efficient technologies in homes. The French government also offers tax credits under the Energy Transition Tax Credit (CITE) program, which includes rebates for smart home technologies like energy management systems.
Furthermore, governments across Europe are integrating smart home technologies into broader national sustainability and digitalization agendas. These efforts not only help reduce energy consumption but also support long-term environmental goals while fostering innovation in the building and technology sectors. By combining financial incentives, policy frameworks, and public awareness campaigns, Europe is positioning itself as a leader in the adoption of smart home technologies.
Some of the recent developments in this space are as follows:
In April 2024, the U.K. government passed the Product Security and Telecommunications Infrastructure (PSTI) Act to help citizens choose secure smart home products.In August 2023, the German government announced a substantial investment of EUR 18.9 billion (USD 19.8 billion) in a subsidy program for energy-efficient building renovation and installation of solar panels and batteries, creating favorable conditions for adopting smart energy management systems. The installations of solar batteries in the country doubled in 2023, with over one million units in operation. Many of these installations are integrated with smart energy management devices that optimize energy consumption and storage.
Such initiatives are driving the growth of the Europe smart home market.
Get Insightful Data On Regions, Market Segments, Customer Landscape, And Top Companies (Charts, Tables, Figures And More) – https://www.meticulousresearch.com/product/europe-smart-home-market-5601
Europe Smart Home Market Analysis: Key Findings
Based on product type, in 2024, the smart security & monitoring systems segment is expected to account for the largest share of 29.1% of the Europe smart home market. However, the smart speaker’s segment is expected to register the highest CAGR of 18.7% during the forecast period 2024–2031.
Based on protocol & standard, in 2024, the wireless protocols segment is expected to account for the largest share of 64.9% of the Europe smart home market. Moreover, this segment is expected to register the highest CAGR of 14.7% during the forecast period.
Country/Region Analysis:
Based on country/region, the Europe smart home market is segmented into Germany, the U.K., France, Italy, Spain, Netherlands, Switzerland, Sweden, Denmark, Russia, Norway, and the Rest of Europe. In 2024, Germany is expected to account for the largest share of around 25% of the Europe smart home market.
Germany’s smart home market is one of the most advanced and rapidly growing in Europe, driven by high consumer demand for energy-efficient, automated, and secure household solutions. The market is further supported by government initiatives promoting energy efficiency, the rising adoption of IoT devices, and increased consumer awareness of home automation technologies.
Germany’s smart home ecosystem is diverse, with segments such as energy management systems, home security, smart appliances, entertainment systems, and healthcare monitoring solutions. Energy management and security systems are two of the fastest-growing segments. The focus on energy efficiency is driven by Germany’s ambitious climate targets, including its goal to become carbon-neutral by 2045. Government initiatives, such as the €18.9 billion (USD 19.7 Billion) subsidy program for energy-efficient building renovations, as well as the installation of solar panels and batteries, have created favorable conditions for the adoption of smart energy management systems.
Home security is another key growth driver in Germany’s smart home market. Increasing concerns about burglaries and crimes have led to rising demand for IoT-enabled security systems, including smart locks, surveillance cameras, and motion sensors. In 2023, burglary rates rose in cities like Berlin, prompting German consumers to invest in advanced home security solutions. Companies like Bosch, which offers comprehensive security systems, have seen increased adoption of their products in response to these trends.
Overall, Germany’s smart home market is a dynamic and rapidly evolving sector, integrating cutting-edge technologies with strong policy support to meet consumer demand for efficiency, security, and sustainability. As the country continues its green transition and IoT adoption accelerates, the smart home sector is expected to remain a key component of its digital and environmental strategy.
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Norway: The Fastest-growing Country Market
Norway’s smart home market is projected to register the highest CAGR of 15.6% during the forecast period. The smart home market in Norway is growing rapidly, driven by advances in technology, increasing consumer awareness, and a strong commitment to sustainability. Norway, known for its high standard of living and techsavvy population, presents a lucrative market for smart home products and services. The adoption of smart home technology in the country is fueled by the desire for enhanced convenience, energy efficiency, and improved home security.
Moreover, the Norwegian government is supporting the development of smart grids that enable better management and distribution of electricity. This infrastructure enhances the capabilities of smart homes by allowing them to communicate with the grid, respond to variable energy availability, and contribute to more efficient energy use. As Norway generates most of its electricity from renewable sources, the integration of smart home technology with these grids helps maximize the potential of renewable energy. Thus, regulatory support, financial incentives, and strategic investments in digital infrastructure are driving the growth of Norway’s smart home market
Europe Smart Home Market: Competition Analysis
This report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted over the past 3–4 years. Major companies in the Europe smart home market have implemented various strategies to expand their product offerings footprints and augment their market shares. The key strategies followed by most companies in the Europe smart home market were product launches, expansions, mergers & acquisitions, agreements, collaborations, and partnerships. The key players operating in the Europe smart home market include LG Electronics, Inc. (South Korea), ASSA ABLOY AB (Sweden), Amazon Web Services, Inc. (U.S) (a subsidiary of Amazon.com, Inc.), Samsung Electronics Co., Ltd. (South Korea), Schneider Electric SE (France), Siemens AG (Germany), Google LLC (U.S.) (a subsidiary of Alphabet Inc.), Apple, Inc. (U.S.), Legrand SA (France), Johnson Controls International plc (Ireland), Honeywell International Inc. (U.S.), ecobee Technologies ULC (Canada) (a subsidiary of Generac Power Systems, Inc.), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), and Axis Communications AB (Sweden) (a subsidiary of Canon Inc.).
Europe Smart Home Industry Overview: Latest Developments from Key Industry Players
In October 2024, Samsung Electronics Co., Ltd. (South Korea) partnered with Ashley Furniture Industries, Inc. (U.S.) to launch The Connected Home Experience powered by Samsung SmartThings.In May 2024, Siemens AG (Germany) collaborated with Emporia (U.S.) to introduce its Inhab™ Energy Monitor residential energy monitoring solution for helping homeowners take control of their energy consumption and spending.In April 2024, Samsung Electronics Co., Ltd. (South Korea) launched its new connected Bespoke AI-powered home appliances to improve the overall smart home experience for customers.
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Scope of the Report:
Europe Smart Home Market Assessment—by Product Type
Smart Security & Monitoring SystemsSmart Locks & Access ControlSmart Home InterfacesSmart Security CamerasSmart SpeakersSmart Lighting SystemsSmart HVAC ControlSmart ThermostatsSmart Air ConditioningSmart VentsSmart Entertainment SystemsSmart Home AppliancesSmart Washing MachinesRobotic Vacuum CleanersSmart Water HeatersSmart Kitchen AppliancesSmart RefrigeratorsSmart DishwashersSmart Coffee MakersSmart OvensSmart Home Healthcare SystemsSmart FurnitureSmart Sofas & ReclinersSmart Tables & Desks
Europe Smart Home Market Assessment—by Protocol & Standard
Wireless ProtocolWi-FiZigBeeBluetoothZ-WaveThreadEnOceanWired ProtocolKNXUPBX1OBACNETLONWORKSDALIMODBUSETHERNETHybrid ProtocolC-BusInsteon
Europe Smart Home Market Assessment—by Country/Region
EuropeU.K.GermanyFranceItalySpainNetherlandsDenmarkSwitzerlandSwedenRussiaNorwayRest of Europe
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Smart Home Market Size, Share, Forecast, & Trends Analysis by Product Type (Smart Lightning Systems, Smart Speakers, Smart Security & Monitoring Systems, Smart Home Appliances), Protocol & Standard (Wireless Protocols, Wired Protocols, Hybrid Protocols), and Geography – Global Forecast to 2031 – https://www.meticulousresearch.com/product/smart-home-market-5029
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North America Smart Home Market by Product Type (Smart Lightning Systems, Smart Speakers, Smart Security & Monitoring Systems, Smart Home Appliances), Protocols & Standards (Wireless Protocols, Wired Protocols, Hybrid Protocols) – Forecast to 2032 – https://www.meticulousresearch.com/product/north-america-smart-home-market-5636
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About Meticulous Research
We are a trusted research partner for leading businesses worldwide, empowering Fortune 500 organizations and emerging enterprises with market intelligence designed to drive revenue transformation and strategic growth. Our insights reveal future growth opportunities, equipping clients with a competitive edge through a versatile suite of research solutions—including syndicated reports, custom research, and direct analyst engagement. Each year, we conduct over 300 syndicated studies and manage 60+ consulting engagements across eight major sectors and 20+ geographic markets, all to deliver targeted business insights that help our clients lead in a rapidly evolving global market.
With a strong focus on problem-solving for complex business challenges, our research enables organizations to navigate change with assertion, aligning it with strategic pathways for sustainable growth. By identifying innovative and effective solutions, we empower leaders to make impactful decisions that drive operational excellence and fuel innovation. We are committed to crafting insights that enhance business performance and help our clients unlock new revenue opportunities, positioning them for long-term success in the competitive global marketplace.
Contact:
Meticulous Market Research Pvt. Ltd.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
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APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
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Up to 40% power savings of data centerFaster time-to-deployment and reduced time-to-online by providing end-to-end liquid-cooling solutionUp to 40% reduced water consumption with warm water cooling now available at an inlet temperature of up to 45°C, reducing the necessity of chillersEnabling quiet data center operation at ~50dB
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For more information, please visit www.supermicro.com/liquid-cooling
Supermicro aims to save 20% of data center costs and apply DLC-2 innovations as part of data center building block solutions to make liquid-cooling more broadly available and accessible.
A significant component of the new liquid-cooling architecture is a GPU-optimized Supermicro server, which includes eight NVIDIA Blackwell GPUs and two Intel® Xeon® 6 CPUs, all in just 4U of rack height. This system is designed to support increased supply coolant temperatures. This unique and optimized design incorporates cold plates for CPUs, GPUs, memory, PCIe switches, and voltage regulators. This design reduces the need for high-speed fans and rear-door heat exchangers, thereby lowering cooling costs for the data center.
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About Super Micro Computer, Inc.
Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first-to-market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions provider with server, AI, storage, IoT, switch systems, software, and support services. Supermicro’s motherboard, power, and chassis design expertise further enables our development and production, enabling next-generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).
Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.
All other brands, names, and trademarks are the property of their respective owners.
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Avenger Logistics Named a Preferred Carrier by project44
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As the connective tissue of global logistics, project44 empowers the world’s leading brands with real-time visibility. Having built the industry’s largest and most connected ecosystem, they provide visibility into over 1 billion shipments annually across 170+ countries and every mode of transport, from truckload and ocean to air and final mile. By transforming traditional supply chains into high-velocity networks through Movement by project44, they help businesses deliver value faster and smarter. To learn more, visit https://www.project44.com.
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About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.
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