Summary of our market study

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.

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Summary and extracts

1 Synthèse du marché

1.1 Introduction

The smart home device market in Italy refers to thehome automation sector that integrates smart technologies and devices to improve comfort, safety, and energy efficiency in homes.

Offerings in the smart home market in Italy include:

  • Centralized home control systems
  • Smart lighting devices
  • Smartthermostats and heating systems
  • Home security systems, such as surveillance cameras and smart alarms
  • Energy management devices, such as smart outlets and solar panels
  • Virtual assistants and smart speakers
  • Smart appliances, such as connected refrigerators, washing machines and televisions

The smart home concept was born in 1966, when American engineer Jim Sutherland installed a computer in his home, initially intended for industrial use. This prototype home gateway, called the Echo IV, allowed it to control lights, television sets, and programmed alarm clocks. Sutherland's project was ambitious, as he envisioned a home that could interact with various devices, such as a thermostat, to simplify daily life.[Evolve] Over time, the market has developed; today, key players include technology companies, appliance manufacturers, security service providers and home automation companies.

The global smart home market size has been estimated at $80.45 billion in 2022 and is expected to reach about $581.85 billion by 2032. The compound annual growth rate(CAGR) for this period is 20.61%.[Precedenceresearch]

This study focuses on the smart home device market in Italy. For information on complementary markets, such as the smart city or Internet of Things (IoT) sectors, please refer to the other studies available in the Businesscoot catalog.

 

1.2 The global market

the size of the global smart home market has been estimated at $**.** billion in **** and is expected to grow at a rate(***) of ** percent from **** to ****, reaching $*** billion.

The increasing integration of Artificial Intelligence(***) into smart home products is expected to increase demand for products.

In addition, one element that is ...

1.3 The Italian market

in **** , the smart home market continues to grow in Italy, with +**% compared to **** and reaching a value of *** million euros. This is a higher growth rate than in other European countries such as Spain (***), while Germany is declining.

Italian Smart Home Market Italy, ****-****, millions of euros finance.lastampa.it

In ...

1.4 Import-Export

Regarding the foreign marketing of smart home devices, since this is a market that cannot be clearly circumscribed and has different technological solutions, HS code **** is taken as a reference : electrical, acoustic or visual signaling devices (***). Looking at the graph, it can be seen that from **** onward, the export/import ratio ...

1.5 The impact of the Russian-Ukrainian conflict

Despite the growth of the Italian smart home market, it is believed that the expansion could have been higher (***)

New disruptions in global component shortages caused by the war in Ukraine and the resurgence of Covid-** in China have disrupted the smart speaker and smart display markets, according to the latest ...

2 Analyse de la demande

2.1 Demand in Italy

The rising cost of energy has prompted Italians to pay more attention to energy conservation: ** percent are careful to save money within their homes. And using smart home devices could help reduce annual energy consumption by as much as ** percent for heating, ** percent for the electrical component. However, among consumers the ...

2.2 Demand drivers

The deployment of smart home type devices and systems is driven by a number of drivers enabled by the inherent characteristics of these technologies, these can be summarized in the table below.

(***)

2.3 The geographical distribution of demand

Regarding the geographical distribution of smart home demand, reference is made to data on Google Trends regarding queries related to the topic, particularly shopping, broken down by different regions, over the past ** months.

The values are calculated on a scale of * to ***, where *** indicates the location with the highest search frequency ...

2.4 New trends in demand

Connectivity and interoperability

Considering consumers' expectations for the future, most would like full integration and communication between installed smart devices, capable of activating and setting scenarios autonomously. According to Angela Tumino, Director of the Internet of Things Observatory, Italian consumers are increasingly ready for the smart home, given the growth in ...

3 Structure du marché

3.1 The market structure

Theanalysis of the market structure related to Smart Home is carried out on the basis of data belonging to the category related to ATECO code ****: Installation of electrical installations in buildings or other works under construction(***). Clearly, this is a very broad and general category, but nevertheless it can give information ...

3.2 The value chain

3.3 Distribution

**** marks a strong growth of all sales channels, especially the traditional supply chain (***). Sales by utilities, insurance companies, and telcos remain limited, although for the former it has been a year of strong relaunch of smart home offerings, leveraging the theme of energy savings.

Sales channels for smart home devices by ...

3.4 The main actors

The following are the main companies active in the smart home sector in Italy, in descending order of turnover.

Bticino s.p.a: BTicino SpA is an Italian engineering company founded in ****, specializing in low-voltage electrical equipment for living, working and manufacturing environments. Their solutions cover power distribution, communication, and control ...

4 Analyse de l'offre

4.1 Supply analysis

The expression Smart Home or "smart home" refers to the ability to manage automatically or remotely, systems and devices within a home in order to save energy, simplify home life, and/or ensure the safety of the people inside.

From a technological point of view, the Smart Home represents the evolution ...

4.2 The prices

Analysis of prices for smart home devices shows that there are significant variations over the course of a year. According to data collected by idealo, average annual maximum savings can vary widely depending on the device, for example:

Smart TVs: up to €*** in savings Smart refrigerators: up to €***€ in savings Smart ...

4.3 New supply trends

The smart home market is subject to continuous innovations related to security, energy saving, smart appliances, and so on. It is an industry that, especially in recent years, has seen considerable development, attracting more and more consumers. The most important market trends of the current year are proposed below. (***)

Control and ...

5 Règlementation

5.1 The legislation

At the European level, home automation is governed byArticle * ofDirective (***) ****/*** on "technical building systems, electric mobility and the indicator of building intelligence readiness" and two regulations concerning the voluntary certification system of building intelligence readiness and the technical modalities to implement it.

Regulation No. ****/****/EU of October **, **** introduces this system, which ...

5.2 The incentives

Home automation bonus ****

Until December **, ****, households have the opportunity to benefit from the home automation bonus. This offers tax deductions for building efficiency, which can cover up to ** percent of expenses incurred for the purchase of smart home appliances and systems. This measure is part of theEcobonus benefits.

To qualify for ...

6 Positionnement des acteurs

6.1 Segmentation

  • Bticino s.p.a
  • Finder s.p.a
  • Faac s.p.a
  • Came Italia s.r.l
  • Ave s.p.a

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Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Bticino s.p.a
Finder s.p.a
Faac s.p.a
Came Italia s.r.l
Ave s.p.a

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