Smart Home Energy Monitoring Devices Market Size, Share, Trends, & Industry Analysis Report By Component (Hardware, Software, Services), By Technology, By Product Type, and By Region – Market Forecast, 2025–2034

The smart home energy monitoring devices market size is expected to reach USD 9.58 Billion by 2034, according to a new study by Polaris Market Research. The report “Smart Home Energy Monitoring Devices Market Share, Size, Trends, Industry Analysis Report: By Component, By Technology, By Product Type, and By Region; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The smart home energy monitoring devices market offers solutions for residential and commercial applications, including smart meters, energy monitoring devices, smart thermostats, lighting systems, and cloud-based software for real-time tracking, analytics, and energy optimization.

Market growth is driven by rising electricity costs and increasing consumer focus on sustainability. In addition, adoption of AI- and IoT-based energy management solutions is enhancing efficiency and reducing household energy consumption.

Smart Home Energy Monitoring Devices Market Report Highlights

Based on component, the hardware segment dominated in 2024, driven by high adoption of smart meters and sensors improving energy tracking and reliability.

In terms of technology, the Wi-Fi segment dominated in 2024, supported by easy integration with home networks and connected devices.

Based on product type, energy monitoring devices dominated in 2024, fueled by rising electricity costs and need for detailed usage insights.

North America dominated the global market in 2024, supported by strong smart home adoption and government incentives for energy efficiency.

Asia Pacific is projected to record the fastest growth, driven by rising urbanization, electricity demand, and government support for smart energy solutions.

Key players in the global market include Schneider Electric, Siemens AG, Honeywell International, ABB Ltd, Leviton Manufacturing Co., Inc., Eaton Corporation, Johnson Controls, Emporia Corp., Robert Bosch GmbH, LG Electronics, Ecobee, and Sense Labs.

Polaris Market Research has segmented the market report based on component, technology, product type, and region:

By Component (Revenue, USD Billion, 2020–2034)

Hardware

Software

Services

By Technology (Revenue, USD Billion, 2020–2034)

Wi-Fi

Zigbee

Z-wave

Bluetooth

Others

By Product Type (Revenue, USD Billion, 2020–2034)

Smart Thermostats

Smart Light Bulbs

Energy Monitoring Devices

Smart Appliances

Other Products

By Regional Outlook (Revenue, USD Billion, 2020–2034)

North America

US

Canada

Europe

Germany

France

UK

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Vietnam

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of Middle East & Africa

Latin America

Mexico

Brazil

Argentina

Rest of Latin America Show more