The 2024 Smart Home Industry Report explores the latest trends, innovations, and market developments shaping the future of home automation. The sector has experienced growth driven by increasing consumer demand for convenience, security, and energy efficiency. The report highlights key trends, firmographic data, and investment patterns to offer insights into the current state and future trajectory of the smart home industry.
This smart home report serves as a reference for stakeholders within the industry, investors, policymakers, real estate and property management companies, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Smart Home Industry Report 2024
- Executive Summary
- Introduction to the Smart Home Report 2024
- What data is used in this Smart Home Report?
- Snapshot of the Global Smart Home Industry
- Funding Landscape in the Smart Home Industry
- Who is Investing in the Smart Home Solutions?
- Emerging Trends in the Smart Home Industry
- 5 Emerging Smart Home Startups
Executive Summary: Smart Home Report 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 1900+ smart home startups developing innovative solutions to present five examples from emerging smart home industry trends.
- Industry Growth Overview: The smart home market report shows an industry that has an annual growth rate of 25.86%, with over 7200 companies involved.
- Manpower & Employment Growth: The sector employs more than 340K workers, with an addition of over 26,000 new employees in the last year.
- Patents & Grants: The smart home industry has over 7000 patents filed and has secured more than 220 grants. This shows the support for various initiatives and developments within the sector.
- Global Footprint: The industry’s global presence includes key country hubs such as the US, Germany, China, India, and the UK, with leading city hubs like Shenzhen, London, Dubai, Bangalore, and New York City.
- Investment Landscape: Investment in the smart home industry includes an average funding round value of USD 22.5 million, with over 1700 funding rounds closed, involving more than 450 investors and benefiting over 580 companies.
- Top Investors: Cox Communications, Xiaomi, Baidu Ventures, and more have collectively invested more than USD 450 million.
- Startup Ecosystem: Five innovative startups include OliverIQ (Smart Home As a Service), QConnex (IoT-based Smart Home Solutions), Aosu (Home Security Systems), iHelios (Energy-efficient Infrared Heating), and Lumenox (Custom Smart Home Lighting).
- Recommendations for Stakeholders: Innovators should focus on developing user-friendly, interoperable technologies that integrate with existing smart home systems to enhance consumer adoption and satisfaction. Also, utility companies and energy providers are encouraged to collaborate with smart home tech developers to create energy-efficient solutions that reduce consumption and promote sustainability.
Explore the Data-driven Smart Home Report for 2024
The Smart Home Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The heatmap visually represents data on startups and companies from our database. The database includes information on 1900 startups and over 7200 companies, showing an industry growth rate of 25.86% in the last year. There are over 7000 patents and 220 grants recorded, showcasing innovation in this sector.
The global workforce comprises 340K employees, with a growth of over 26K employees in the past year. The top five country hubs for these startups and companies are the US, Germany, China, India, and the UK. In addition, the top five city hubs include Shenzhen, London, Dubai, Bangalore, and New York City. This heatmap provides insights into the industry’s dynamic landscape and geographical distribution.
What data is used to create this smart home report?
Based on the data provided by our Discovery Platform, we observe that the smart home industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: The industry received extensive news coverage, with over 24000 publications last year.
- Funding Rounds: There were more than 1700 funding rounds recorded, which indicates robust financial support.
- Manpower: The industry employs over 340000 workers, with 26000 new employees added in the past year.
- Patents: Over 7000 patents were filed within the industry.
- Grants: The industry secured over 220 grants to support various initiatives and developments.
- Yearly Global Search Growth: The global annual search growth for the smart home industry reached 31.99%. This is a reflection of increasing interest and relevance.
- and more. Get in touch to explore all the data points used to create this smart home report.
A Snapshot of the Global Smart Home Industry
The smart home industry has experienced remarkable growth, with over 340000 individuals currently employed. More than 26000 new employees joined the sector in the past year. The workforce expansion is supported by a substantial number of companies operating in the sector, totaling over 7200. This underscores the industry’s dynamic nature and its critical role in driving technological advancements.
Explore the Funding Landscape of the Smart Home Industry
Investment remains strong, with an average funding round value of USD 22.5 million. Over 1700 funding rounds have been closed, involving more than 450 investors and benefiting over 580 companies. These investments fuel further development within the smart home industry. The combined efforts of a growing workforce, numerous companies, and financial backing highlight the dynamic and evolving nature of the smart home industry. They play a critical role in driving technological advancements and improving everyday living through smart home solutions
Who is Investing in the Smart Home Solutions?
The smart home industry has attracted investment from top players exceeding USD 450 million. Here are some investors and their contributions:
- Cox Communications has invested USD 200 million in 2 companies.
- Xiaomi has injected USD 108.3 million into 5 companies.
- Baidu Ventures has contributed USD 88.5 million to 2 companies.
- Lennar Corporation has invested USD 58.7 million in 2 companies.
- Horizons Ventures has allocated USD 15.5 million to 2 companies.
- Qiming Venture Partners has committed USD 15 million to 2 companies.
- Techstars has funded 6 companies with a total of USD 618K.
- SOSV has invested USD 50K in 3 companies.
- and more. Connect with us to explore all investment data in the smart home industry
Access Top Smart Home Innovations & Trends with the Discovery Platform
Explore the key trends in the smart home industry along with the firmographic data:
- Smart Home Automation has over 2K identified companies, employing more than 49K individuals. This trend added over 4K new employees in the last year alone, indicating growth. The annual trend growth rate for smart home automation stands at 8.8%, reflecting the increasing demand for integrated home automation solutions.
- Smart Home Security System, with over 390 identified companies, employs more than 25K individuals. In the past year, the sector added over 1K new employees, showing workforce growth. The annual trend growth rate for smart home security systems is 23.88%, indicating a strong market demand for advanced security solutions.
- Home IoT consists of 78 identified companies employing over 16K people. In the last year, this industry has seen an increase of 2K new employees, reflecting its expansion. The annual trend growth rate for home IoT is 12.51%, showcasing the growing interest in interconnected home devices.
5 Top Examples from 1900+ Innovative Smart Home Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
OliverIQ provides Smart Home As a Service
US startup OliverIQ offers a platform to manage the connected home. The startup’s platform integrates, controls, and manages diverse smart devices through an app. It also offers driver support for compatibility with leading smart brands and devices. The cloud architecture enables remote troubleshooting and subscription services. Further, it provides integration with service provider scheduling, ticketing, dispatch, and CRM systems to enhance operational efficiency.
QConnex makes IoT-based Smart Home Solutions
German startup QConnex offers IoT-based smart home solutions. Its products range from smart homes to intelligent appliances and personal trackers. The startup offers chip and module technologies including WiFi, Bluetooth, NFC, Zigbee, Zwave, and cellular options. The QConnex app ecosystem provides an intuitive design and user experience. Its IoT backend ensures security and privacy standards. Moreover, it allows cloud-to-cloud integration that facilitates connectivity and data management. Also, the QConnex dashboard offers diagnostics, data analysis, and insights on product and device usage.
Aosu develops Home Security Systems
Chinese startup Aosu builds home security systems. Its SolarCam System Pro offers wire-free surveillance powered by direct sunlight with a rechargeable battery. The Video Doorbell Pro and Video Doorbell Ultra feature smart motion detection for enhanced entryway security. The startup’s outdoor cameras like SolarCam D1 Max and Security Cam D1 SE utilize AI human and vehicle motion tracking. The smart camera rotation ensures monitoring with swift pans, tilts, and zooms. Further, its indoor cameras, including IndoorCam P1 and IndoorCam P1 Pro, offer smart motion tracking for interior spaces.
iHelios offers Energy-efficient Infrared Heating
UK startup iHelios develops smart home heating and insulation solutions. Its iHelios Reflective Insulation acts as a thermal barrier for floors and ceilings. This insulation enhances comfort and reduces heating costs by reflecting heat into the room. Its iHelios Heating Film uses infrared technology and warms objects and surfaces. Further, its Occupancy Sensor ensures energy efficiency and security through motion detection and static monitoring. The startup’s iHelios Smart ZigBee Thermostat also supports Alexa and Google Home.
Lumenox advances Custom Smart Home Lighting
Canadian startup Lumenox provides permanent exterior LED lighting solutions for homes. It also offers an app that allows homeowners to manage lighting remotely. It has an upcoming event-based calendar mode that automates lighting changes for holidays and special occasions. Lumenox easily integrates with modern smart home systems.
Gain Comprehensive Insights into Smart Home Trends, Startups, or Technologies
The 2024 Smart Home Industry Report highlights the sector’s growth and innovation in enhancing home automation and security using IoT solutions. As smart home technologies continue to advance, they are set to transform residential property management, providing convenience, safety, and energy efficiency tools. Book a platform demo to explore all 1900+ startups and scaleups, as well as all industry trends impacting smart home companies.
