Report: U.S. smart home market to generate nearly $29B in revenue in 2021

July 6, 2021
Americans lead the globe in smart home tech adoption with penetration rates expected to surpass 50 percent in 2024

According to a new report, the U.S. is expected to surpass 50 million smart home users in 2021 and generate $28.9 billion in revenue, the most globally for the technology.

In addition, the report, which was published by, projects that from 2021-2025, smart home users in the U.S. will grow at a compound annual growth rate (CAGR) of 10.21%, reaching 77 million by 2025.

U.S. smart home revenues are also expected to increase healthily over the same period, growing at a CAGR of 12.82% and reaching $46.8 billion by 2025. The smart appliance segment is projected to generate the largest share of total revenue in 2021 at $8 billion, followed by security at $5 billion. By 2025, security is expected to account for more than $8 billion of all U.S. smart home revenues.  

The U.S. currently has the highest smart home technology penetration rate in the world at 40.1%, followed the UK at 37.4%. The penetration rate in the U.S. is expected surpass 50% sometime in 2024.

Click here for more information about the report and its findings.