The smart home market size is valued at USD 101.7 Billion in 2023 and is anticipated to be USD 163.7 Billion by 2028; growing at a CAGR of 10.0% from 2023 to 2028. Factors such as the Expansion of smart home product portfolio by large number of players, and Growing concern about safety, security, and convenience among general population are driving the growth of the market during the forecast period.
Expansion of smart home product portfolios by large number of players
The smart home industry involves a wide range of manufacturers worldwide, including those who produce components, devices, systems, software algorithms, and service providers. Tech giants such as Samsung, Amazon, Google, and Apple have introduced innovative products like SmartThings, Echo, Home, and HomeKit for the smart home market. In J
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