The smart home devices market - Italy

The global smart home market has witnessed substantial growth, with an estimated market size of $79.16 billion in 2022, expected to expand at a CAGR of 27% from 2023 to 2030, potentially reaching $537 billion. This growth is driven by the increased integration of Artificial Intelligence (AI) into smart home products, a high penetration rate of smartphones and the internet, and the rising use of voice assistants and advanced technologies such as IoT and Blockchain. The Asia-Pacific region is anticipated to experience the highest CAGR of about 32% during the forecast period, attributed to improved living standards, disposable income, and the adoption of new technologies.

Europe's market is also set to grow steadily, thanks to major players and government initiatives that favor technology adoption. Italy's smart home market continues to outpace other European nations with a growth rate of +18% in 2022. Despite facing challenges from the Russian-Ukrainian conflict impacting the semiconductor and raw material supply, the market still manages substantial advancement, with energy-saving solutions like boilers and thermostats, security technologies, and smart appliances leading the growth.

Evolving Consumer Engagement with Smart Home Devices in Italy

In Italy, the smart home market has been experiencing substantial growth, with an 18% increase compared to the previous year, reaching a market value of between €750 and €800 million. This growth rate is notably higher than that observed in other European countries such as Spain, the United Kingdom, and France, while Germany has seen a decline. Despite this, per capita spending in Italy stands at €13 per inhabitant, lagging behind the US and other European counterparts. The primary drivers behind the sales in Italy's smart home device market are energy conservation solutions, which account for a 20% share—at approximately €150 million—reflecting a growth of over 40%. This is largely influenced by the sale of connected boilers often paired with smart thermostats, spurred by fiscal incentives like the Superbonus and Ecobonus. Following closely are home security solutions and smart appliances, which also hold significant market shares with values reaching €150 million and €140 million, respectively. Italians are becoming more conscious about energy saving, with 91% actively looking to reduce domestic energy costs. Promisingly, smart home devices could help lower annual energy consumption significantly; however, the association between smart home technologies and energy savings is not yet widely recognized.

When it comes to consumer behavior, a majority of Italian users who own connected objects actively use smart functionalities. The app interfaces dominate, with an increased number of consumers capable of independently activating apps linked to smart objects, signifying a tech-savvy population receptive to smart home management. On the geographical front, Trentino-Alto Adige leads regions in Italy for smart home device purchase inquiries, suggesting that interest in smart home technologies is not uniformly spread across the nation but shows significant variation among different regions. Innovation and integration seem to be the core expectations for Italian consumers going forward. They are keen on having fully integrated and communicative smart devices that could autonomously set up and activate scenarios within the smart home ecosystem. This is indicative of an evolving market where consumers are ready for advanced home automation solutions and the integration of various services. The Italian smart home market is also influenced by international events. Considering the impact of the Russian-Ukrainian conflict, it's observed that the growth of the market could have been higher if not for the semiconductor and raw material shortages. The industry has also seen an uptick in prices correlated with the conflict, with the consumer price index and industry producer price index for electronic components showing increases.

Influential Trailblazers in Italy’s Smart Home Market

The Italian smart home market features several dominant players who have secured their positions through innovative products and a steadfast commitment to enhancing home automation. These companies contribute to a dynamic and evolving market, ensuring that smart home technology is not only accessible but also meets the high standards of modern consumers. Each key player brings its unique set of expertise and vision to the table, shaping the smart home landscape in Italy.

• BTicino S.p.A. BTicino, an Italian stalwart in electrical equipment for residential and working environments, has a long-standing reputation for quality and innovation. Being a part of the international Legrand Group has fortified its capabilities in creating intuitive systems for managing lighting, climate, and security. BTicino’s smarthome solutions reflect their commitment to practical sophistication, incorporating the ease of app management and energy-saving technologies with a sleek design aesthetic.
• Finder S.p.A. Specializing in the creation of electronic and electromechanical components, Finder has more than six decades of expertise under its belt. This Italian company prides itself on manufacturing a variety of products designed for precise automation and control. Their array of offerings include items for automated lighting, home appliances, and efficient energy management.
• FAAC S.p.A. FAAC is a pioneer in the field of automated systems for gates, barriers, and doors, and is known for driving innovation in the automation sector. Originating in Zola Predosa, Italy, FAAC now operates on a global scale, innovating in the sphere of access control and parking management. Their extensive experience in hydraulic technology is central to their success in creating reliable and sophisticated automation solutions for homes.
• Came Italia S.R.L. As a company that has specialized in technological solutions for automation since the early '70s, Came Italia exemplifies Italian engineering excellence. From home security systems to energy management, Came Italia's broad product portfolio stands testament to their adaptability and forward-thinking approach in the industry. Their commitment to creating a seamless automated environment is a testament to their expertise and innovation-driven spirit.
• AVE S.p.A. With roots that stretch back to the early 20th century, AVE S.p.A. has continually evolved to stay at the forefront of the electrical and electronic equipment manufacturing industry. AVE's notable contribution to home automation is complemented by their wider strategic divisions that include security and hotel management.

The company has consistently shown its resilience and capacity for innovation, adapting to the changing needs of the market and embracing smart technology.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 10/11/2023

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