The smart home market in Italy is growing- The Cryptonomist

In 2021, the value of the smart home exceeded pre-pandemic levels, despite the shortage of semiconductors and raw materials that caused sales losses of 75 million euros. Home appliances (21%), smart speakers (20%) and security solutions (19%) lead the market.

The ecommerce sales channel continues to grow (+20%), but sales in the traditional retail channel have also made a big leap forward (+40%). 

These are just some of the most interesting findings of the latest report by the Milan Polytechnic Observatory on the world of the Smart Home, or more simply, technological objects and services dedicated to the management and comfort of the home. 

In 2021, according to the experts of the Politecnico di Milano, there will be a real boom in the sector, with a +29% compared to 2020. The value of the total market in Italy has reached €650 million, equal to €11 on average per inhabitant, exceeding even pre-Covid levels.

However, the gap in terms of market value compared to the main European countries is still considerable. The United Kingdom leads the ranking with around €4 billion of market value and +43% compared to 2020, 58.7€/inhabitant, followed by Germany (€3.9 billion, +37%, 46.8€/inhabitant), and France 1.3 billion, 19, 1€/inhabitant. Our country consolidates its fourth position, further distancing Spain, which stops at 480 million euros. 

In Italy in 2021, the percentage of Italians who say they have already heard of the connected home and Smart home-related stretches rises to 74% compared to 69% in 2020. 

According to some recent estimates, in 2023 the market in Italy should exceed €1 billion. In the world, the smart home is currently worth 68 billion dollars and by 2023 it should exceed 100 billion. The US and China lead the world ranking of countries where smart home is most widespread. 

According to the Milan Observatory report, 46% of people own at least one connected device, up from 43% last year. As is easily predictable, it is the youngest, aged between 18 and 34 (63%) who are most familiar with these smart objects (78% of the total).

Finally, with regard to the main reasons behind the purchase of these objects, they would be linked to the desire for greater comfort (38%), safety (22%) and the ability to remotely control connected devices (14%).