Nowadays, most people are likely to have at least one smart gadget in their homes. From remote control apps to green thermostats, the options to make your life more convenient are almost endless.
Therefore, we’ve researched and gathered these smart home statistics to familiarize you with the Canadian industry’s latest trends and consumer tendencies.
Let’s get started!
Top 10 Smart Home Statistics for 2022
- The smart home market was worth US$79.13 billion in 2020.
- The US smart home market created the most revenue in 2021.
- The Canadian smart home revenue is expected to reach $3.3 billion in 2022.
- In 2019, 27% of Canadians owned at least one smart home tech device.
- Home automation statistics revealed 83% of women only buy smart tech items on sale.
- In 2018, 7% of Canadian broadband households owned a smart speaker.
- Canadians plan to use smart home tech to help protect their elderly population.
- 33% of early users of fingerprint scanners were hacked.
- Smart assistants were the most common purchase by Canadian tech consumers.
- Over 100 million Amazon Alexa devices have been sold globally.
Global Smart Home Stats
With smart home gadgets gaining so much popularity, what are the global trends and stats? How are things different in the United States compared to Australia or Canada?
Find out below!
1. Smart home statistics from 2020 revealed that the market was worth US$79.13 billion.
(Mordor Intelligence)
According to a study that analyzed the market between 2019 and 2026, the industry is expected to hit US$313.95 billion by 2026. Overall, North America had the most significant market share (at the time of the study).
2. Stats on the smart home market from 2021 indicated a growth of 25.3% CAGR between 2021 and 2026.
(Mordor Intelligence)
The global smart homes market is growing at a rapid speed. Over the forecast timeframe, the importance of addressing security concerns is expected to accelerate demand for connected and smart homes worldwide.
Moreover, the smart home market share growth is expected to be driven by entertainment controls and advanced intelligent devices, like access and security regulators and HVAC controllers.
3. Around 30 million US households are expected to add smart home technology in the near future.
(Mordor Intelligence)
The popularity of smart homes is undeniably growing, and the products that most consumers are looking to add to their houses are cameras, video doorbells, connected light bulbs, smart locks, and smart speakers.
4. Data suggests that 41.9% of Australian households will have some type of innovative home technology by 2023.
(Lera Smart Home Solutions, Statista)
According to market trends in smart homes, Australia is approximately six to twelve months behind the United States to embrace smart home technology. Based on revenue stats, the smart home industry in Australia will grow to about US$2.44 billion by 2023.
This number is significantly lower than what’s expected for Canada — according to the numbers, the industry in Canada will likely reach US$3.8 billion by 2023.
5. Smart home statistics revealed that the US generated the most revenue.
(Statista, Statista)
Moreover, home automation statistics indicated that this figure was nearly US$29 billion, and the US market is forecasted to grow at a 12.82% CAGR between 2021 and 2025. In fact, by 2025, the market volume in the US will likely be over US$46 billion.
Compared to Canada, these figures are significantly higher. Namely, Canada’s revenue is projected to grow at an 11.70% CAGR over the same period. By 2025, the forecasted market volume of Canada will likely be around $4.4 billion.
Smart Home Statistics in Canada
Now that you are more familiar with the global trends let’s see what the facts and figures reveal about Canada’s industry. Is it booming, or not? What are the latest trends?
Find out below!
6. The Canadian smart home market value in 2022 is forecasted to reach $3.3 billion.
(Statista)
The revenue is forecasted to increase by a yearly growth rate of 11.70%, finally reaching a forecasted market volume of $4.4 billion by 2025. Moreover, the average revenue per built intelligent home is projected to total $654 million.
7. Around 27% of Canadians own at least one piece of smart home technology.
(Newswire)
According to the findings of a 2019 poll by Rakuten.ca, Canadians are on board with the smart home trend. In fact, a whopping 78% of those surveyed confessed they planned to buy even more smart home technology in 2020.
8. Smart home consumer demographics stats show that 83% of women admitted only buying technology items on sale.
(Newswire)
Similar stats from 2019 revealed that Canadians mostly shop for technology when it’s on sale. Furthermore, 68% of participants reported they found the best deals while shopping online rather than in physical stores.
9. According to smart home research from 2018, 12% of Canadian broadband households had a smart home device that year.
(PRNewswire)
Research by Parks Associates revealed that 12% of Canadians owned a device such as a video doorbell, smart door locks or a smart thermostat in 2018, compared to 26% of Americans.
Moreover, the smart home statistics in Canada found that 25% of Canadian broadband households had an enabled home security system, out of which 70% had professional monitoring.
10. In 2018, 7% of Canadian broadband households had a smart speaker featuring a personal assistant.
(PRNewswire)
According to the research director of Parks Associates, Brad Russell, consumer awareness of voice control devices grew by 50% from the first quarter of 2017 to the first quarter of 2018.
11. Canadian Home security industry statistics indicate revenue of $419 million in 2022.
(Statista)
Moreover, the security segment’s revenue is projected to grow at a CAGR of 8.6% and reach a market volume of $673 million by 2026. Plus, the number of active households in the smart home security segment could be 3.5 million users by 2026.
12. Canadians want to use smart home tech to protect seniors.
(SMARTHOMES)
According to smart home statistics, due to COVID-19, it’s become even more crucial to do what we can to protect and help seniors stay in their homes.
Tech expert Mark Saltzman believes that we can accomplish this by using technology such as cameras, smartwatches, and smart pill dispensers.
13. Almost half of Canadian Millennials and Generation Zers check reviews before shopping online for smart home products.
(Consulting Canada)
Based on data regarding smart home demographics from 2019, checking online reviews before making a purchase is particularly important to Canadian Millenials and Generation Zers (48%).
Fun Fact: In 2019, 28% of Millennials were online shoppers, compared to only 5% of Gen Z-ers.
Smart Appliances Statistics
There’s no denying that smart appliances can make our lives easier and more manageable. Not only that, but they’re pretty stylish. Let’s take a look at some facts and stats below.
14. In 2017, 33% of early users of fingerprint scanners experienced a hack that year.
(Global News Canada)
According to Norton’s smart home breach statistics from 2017, the typical Canadian affected by cybercrime was an early user of advanced security technologies such as personal VPNs, facial recognition, two-factor authentication, or fingerprint scanners.
15. In 2019, smart assistants were the most common purchases by Canadian tech consumers (57%).
(Consulting Canada)
According to smart home industry trends from 2019, Canadian consumers mainly bought smart assistants such as Amazon Echo or Google Home.
Moreover, lightning control systems like Philips Hue followed (37%), while the percentage of Canadian tech consumers who wanted to buy security cameras or systems was 36%.
16. 24% of Canadians did not own smart home devices in 2021.
(Statista)
This stat comes from trends in smart home technology data collected by a Statista Global Consumer Survey conducted in 2021, involving 2,052 Canadian respondents between 18 and 64.
17. The smart home appliances growth in revenue is forecasted to increase at a CAGR of 12.46% between 2021 and 2025.
(Statista)
Based on these figures, the forecasted market volume of intelligent appliances in Canada will likely hit $1.3 billion by 2025. This seems like a lot until we compare it to China, where the most revenue was created in 2021, $12 billion to be precise.
Home Automation Facts
We bet you love quirky facts. So, in the section below, we feature some of the most interesting facts to know about smart homes. Let’s jump right in.
18. The first smart device was the ECHO IV, invented in 1966.
(AFCDUD)
It’s true! According to home automation statistics, this old-school “kitchen computer” could turn appliances on or off, control the home’s temperature, and even compute shopping lists. Although the ECHO IV never sold commercially, it is still considered the first smart device.
19. As of 2019, over 100 million Amazon Alexa devices have been sold globally.
(The Verge)
In other words, smart home facts reveal that Amazon’s Alexa is the trendiest tech product available. If you are unfamiliar with Alexa, it’s basically a speaker with AI technology that features voice interaction, alarm setting, to-do list making, music playback, and much more.
20. Google LLC is the top smart home device manufacturer globally.
(Meticulous Market Research)
It probably comes as no surprise that Google, the global pioneer of internet-based products and services, tops the list. However, Honeywell International Inc., Amazon, ABB Ltd., and LG are other top producers of intelligent gadgets for your home.
Conclusion
As you can see, the current and future benefits of smart homes are practically endless. It’s unlikely that tech companies will slow their process of creating new gadgets to make our lives easier.
Plus, the stats indicate that more and more people will likely follow the smart home tech trends and welcome intelligent gadgets into their households in the coming years.
FAQs
How many smart homes are there in the world?
Currently, there are about 175 million smart homes globally and counting! According to the definition, a smart home is a state-of-the-art home where users can control devices and appliances remotely.
(Analytics Insight) (Investopedia)
How much is the smart home industry worth?
In 2020, the global smart home market had a value of US$79.13 billion. Unsurprisingly, this growing industry is forecasted to reach US$313.95 by 2026.
(Mordor Intelligence)
How many smart devices can you have in a house?
Unfortunately, we didn’t find the exact information about how many devices a household can have. However, stats revealed that the typical smart home in the US has 11 connected devices.
(Homex)
What is included in a smart home?
Smart homes use connected devices that can be controlled from one central location (i.e., a tablet, game console, laptop or smartphone).
This interlinked technology system can regulate televisions, thermostats, door locks, home computers, lamps, cameras, and even devices like refrigerators or washing machines.
(Investopedia)
What are the benefits of having a smart home?
Smart home technologies have many benefits. For example, they can provide users with the convenience of no longer controlling thermostats or appliances manually. Plus, you can protect your home and property with intelligent security systems, even when you’re away.
What’s more, everything can be controlled using a single device (i.e., a tablet or smartphone). As a result, you save time and energy. Just this one perk makes the future of home automation extremely bright.
(Investopedia)
What data do smart homes use?
In a nutshell, smart homes use wireless technology, radio waves, and electricity to send messages to devices. The latest industry standards rely more profoundly on mesh-networking, a type of wireless technology.
(Otelco)
What is the future of smart homes?
The future of smart homes is bright. Based on the findings and rapid advancements in AI, these technologically advanced homes will learn more about their occupants and even anticipate their needs.
Furthermore, Canadians are becoming increasingly passionate about improving the functionality and aesthetics of their homes. For instance, in 2019, Canada’s home improvement industry generated about $50 billion in sales!
Overall, smart home statistics indicate that the future of this industry is profoundly optimistic.
(Time)
Sources:
- AFCDUD
- Analytics Insight
- Consulting Canada
- Consulting Canada
- Global News Canada
- Homex
- Investopedia
- Investopedia
- Lera Smart Home Solutions
- Meticulous Market Research
- Mordor Intelligence
- Mordor Intelligence
- Newswire
- Otelco
- PRNewswire
- Statista
- Statista
- Statista
- Statista
- Statista
- Statista
- Statista
- The Verge
- Time
Hermina Drah
Hermina believes that every day is a chance to learn something new about the obscure world around us. The driving force behind her writing is her passion for sharing knowledge with others all around the world. After attaining her master’s degree in English language and literature, she has decided to join the team of creative writers dedicated to delivering the hottest content on the web. So what are Hermina’s favorite topics to cover? Animals, good books, health, fitness, self-care—you name it.
