The Smart Home and Office Market was worth USD 39.24 Billion in 2024 and is expected to reach USD 98.34 Billion by 2032, growing at a CAGR of 12.17% over 2025-2032. The market is driven by the increasing demand for security and convenience, with smart locks, controlled lighting, and remote monitoring systems gaining popularity. Leading market players include Johnson Controls, Schneider Electric, and Samsung Electronics.

Access Controls segment is dominant in the smart home and office market due to the growing emphasis on security solutions like smart locks and biometric systems. KNX is the leading standard generating revenue, offering interoperability and compatibility for building systems. North America leads the market due to a strong smart home ecosystem, while the Asia Pacific region is rapidly expanding with smart city initiatives.

Recent news includes Johnson Controls selling its Residential and Light Commercial HVAC business to Bosch Group for USD 8.1 billion, positioning itself as a provider of smart building solutions. Bosch released a software update for its Smart Home System, enhancing automation and security features. The Smart Home and Office Market report offers insights on technology adoption, system performance metrics, supply chain resilience, pricing intelligence, and energy savings efficiency. SNS Insider provides accurate market data and consumer insights for confident decision-making.

Read more at GlobeNewswire: Smart Home and Office Market Size to Hit USD 98.34 Billion