Press release
Smart Home Hub Market Size Projected To Reach 405.07 Billion By 2034 With A Cagr Of 20.6%
Smart Home Hub Market
What Is the Projected Growth of the Smart Home Hub Market?
The smart home hub market size has grown exponentially in recent years. It will grow from $158.25 billion in 2024 to $191.27 billion in 2025 at a compound annual growth rate (CAGR) of 20.9%. The growth in the historic period can be attributed to increasing consumer awareness of smart home technology, growth in internet penetration and broadband connectivity, rising adoption of voice assistants like Alexa and Google Assistant, expansion of smart speakers, and increasing demand for home automation solutions.
In the coming years, the smart home hub market is predicted to experience a significant surge, expanding to $405.08 billion by 2029, with a compound annual growth rate (CAGR) of 20.6%. The increase during the forecast period can be traced back to the growing necessity for edge computing in home automation, the expansion of 5G connectivity, swelling consumer requirement for effortless integration across multiple devices, burgeoning significance of privacy-centric smart home hubs, and the progress in voice recognition precision and support for multiple languages. Key trends during the anticipated period will involve automation powered by artificial intelligence, integration with the Matter protocol, edge computing for expedited processing, biometric verification, and multi-modal interaction.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=22142
What Are the Different Smart Home Hub Market Segments?
The smart home hub market covered in this report is segmented -
1) By Type: Multi-Protocol Hubs, Platform Or Ecosystem Hubs
2) By Device Type: Smart Speakers, Smart Displays, Smart Thermostats, Smart Lighting Controllers, Smart Security Systems
3) By Technology: Wired Technology, Wireless Technology, Bluetooth Technology, Zigbee Technology, Z-Wave Technology
4) By Compatibility: Cross-Platform Compatible, Smartphone-Compatible, Voice Assistant Compatible, IoT Devices Compatible, Smart Appliance-Compatible
5) By Application: Home Automation, Energy Management, Security And Surveillance, Healthcare Monitoring, Entertainment Management
Subsegmentss:
1) By Multi-Protocol Hubs: Zigbee Hubs, Z-Wave Hubs, Thread Hubs, Wi-Fi Hubs
2) By Platform or Ecosystem Hubs: Amazon Alexa Hubs, Google Home Hubs, Apple HomeKit Hubs, Samsung SmartThings Hubs
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=22142&type=smp
What Are the Primary Drivers Shaping the Smart Home Hub Market?
The burgeoning use of Internet of Things (IoT) technologies is predicted to fuel the expansion of the smart home hub market. The term 'IoT technologies' applies to devices that are internet-connected to gather, distribute, and utilize data, facilitating automation and intelligent decision-making. As companies and individuals pursue enhanced automation that reduces manual labor, promotes intelligent decisions via real-time data, and ties devices together, IoT adoption is on the rise. The smart home hub promotes IoT by serving as a main communication link that merges and automates various smart devices, enabling smooth control and compatibility within a connected system. For example, in August 2023, the number of IoT devices increased by 66%, hitting roughly 19.8 billion, as per Estuary Technologies Inc., an American technology company specializing in real-time data integration solutions. This growth contrasted with an 18% rise in 2022, which resulted in a total of around 14.4 billion. Consequently, the escalating use of Internet of Things technologies is accelerating the growth of the smart home hub market.
Which Companies Are Leading in the Smart Home Hub Market?
Major companies operating in the smart home hub market are Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Abode Systems Inc., Logitech International S.A., TP-Link Technologies Co. Ltd., Crestron Electronics Inc., Lutron Electronics Co. Inc., Vera Control Ltd., Devolo AG, Savant Systems Inc., Orvibo Technology Co. Ltd., Wink Labs Inc., Ezlo Innovation, Securifi Inc., Brilliant Home Technology Inc., Aeotec Group GmbH, Hubitat Inc., HomeSeer Technologies LLC
What Are the Major Trends Shaping the Smart Home Hub Market?
Major firms in the smart home hub industry are prioritizing the creation of innovative hubs equipped with versatile matter controllers that incorporate thread and bluetooth protocols. These protocols improve the compatibility of devices, enhance connectivity, and simplify smart home automation. Thread and bluetooth protocols are efficient, IPv6-based wireless networking protocols created for smart home devices. They ensure secure, reliable, and scalable mesh communication without depending on a central hub. For example, Aqara, a Chinese technology company known for its smart home automation devices, unveiled the Hub M3 in January 2024, which integrates thread and bluetooth protocols. This hub elevates the manner in which smart devices link and interact, enabling users to manage their entire home from a single central device, thereby enhancing convenience, safety, and efficiency. This update transitions the M3 into a multi-purpose matter controller and a thread border router, making it an ideal hub for a smooth, locally regulated, and future-proof smart home.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/smart-home-hub-global-market-report
What Are the Top Revenue-Generating Geographies in the Smart Home Hub Market?
North America was the largest region in the smart home hub market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart home hub market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Home Hub Market?
2. What is the CAGR expected in the Smart Home Hub Market?
3. What Are the Key Innovations Transforming the Smart Home Hub Industry?
4. Which Region Is Leading the Smart Home Hub Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Home Hub Market Size Projected To Reach 405.07 Billion By 2034 With A Cagr Of 20.6% here
News-ID: 4073367 • Views: …
More Releases from The Business Research Company
C-X-C Chemokine Receptor Type 2 Market on Track for Strong Growth, Estimated to …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the C-X-C Chemokine Receptor Type 2 Market Through 2025?
There has been a significant expansion in the market for C-X-C chemokine receptor type 2 in the past few years. The market is projected to increase from $1.24 billion in 2024 to $1.38 billion…
Top Market Shifts Transforming the Coenzyme Q10 Market Landscape: Key Insights
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Coenzyme Q10 Market Through 2025?
The market size of coenzyme Q10 has seen impressive expansion in the past years, with predictions stating an increase from $0.74 billion in 2024 up to $0.84 billion in 2025, implying a compound annual growth rate (CAGR)…
2025-2034 Chimeric Antibody Market Evolution: Disruptions, Innovations, and Unta …
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Chimeric Antibody Market Through 2025?
In recent times, there has been a swift expansion in the chimeric antibody market size. We can expect an increase from $12.27 billion in 2024 to $13.74 billion in 2025, reflecting a compound annual growth rate (CAGR)…
2025-2034 Chimeric Antibody Market Evolution: Disruptions, Innovations, and Unta …
"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Chimeric Antibody Market Through 2025?
In recent times, there has been a swift expansion in the chimeric antibody market size. We can expect an increase from $12.27 billion in 2024 to $13.74 billion in 2025, reflecting a compound annual growth rate (CAGR)…
More Releases for Hub
POWER HUB REVIEWS 2025: IS POWER HUB ANY GOOD ?
In today's world, staying connected and keeping our devices powered up is essential. Whether at home or in the office, we often find ourselves juggling multiple chargers and power strips to keep our gadgets running. This can create clutter and inconvenience, making it harder to stay organized. The solution? A sleek and innovative power hub that combines multiple outlets, USB charging ports, and a built-in nightlight in one compact unit.…
Global Hub Unit Bearing (HUB) Market Foreseen to grow exponentially Over 2024-20 …
The Global Hub Unit Bearing (HUB) market report on the industry provides a thorough analysis of the different methods and materials employed in the manufacturing of Global Hub Unit Bearing (HUB) market goods.. Key regions that are speeding up marketization are used to segment the market study. The scope of various market segments and applications that may have future market influence is also provided in this section. The comprehensive data…
Hub of Innovation: Trends Shaping the Automotive Wheel Hub Market
Introduction
The automotive wheel hub is a crucial component that connects the wheel to the axle, facilitating smooth rotation and ensuring vehicle stability. As the automotive industry embraces new technologies and changing consumer demands, the wheel hub market is experiencing dynamic growth and transformation. This article explores the key market drivers, segmentation, regional insights, leading players, and regulatory considerations impacting the automotive wheel hub market.
Request Sample Report: https://www.reportprime.com/enquiry/sample-report/19896
Key Market Drivers
Rising Global…
Bike Hub Market Revolutionizing Cycling Performance with Innovative Hub Technolo …
Global Bike Hub Market Overview:
The Bike Hub market is a broad category that includes a wide range of products and services related to various industries. This market comprises companies that operate in areas such as consumer goods, technology, healthcare, and finance, among others.
In recent years, the Bike Hub market has experienced significant growth, driven by factors such as increasing consumer demand, technological advancements, and globalization. This growth has created both…
Hub Motor Market : Front Hub Motor and Rear Hub Motor Industry Forecast, 2019-20 …
The global hub motor market size was valued at $12.25 billion in 2018, and is projected to reach $17.45 billion by 2026, registering a CAGR of 4.4% from 2019 to 2026.
Presently, Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the Asia-Pacific hub motor market share in 2018 and is anticipated to maintain its lead during the forecast period.
Pedelecs are designed to make driving an e-bike…
Digital Tools Resource Hub
PNGK has created a useful hub of digital tools to help humanitarian organizations improve their efficiency by implementing modern tech solutions. We've built this by compiling and categorizing free or freemium digital tools that we use in our day to day work. This free website will be regularly updated with new useful tools we come across thereby providing humanitarian organizations with the most up to date technology enabling them…
