Residential IoT Devices Market Projected to Soar by 2031

New York, US – September 19, 2025 – A new report by The Insight Partners titled "Residential IoT Devices Market Share, Size, Trends, and Forecast by 2031" outlines significant growth in the global market for residential IoT devices. According to the report, the sector is set to experience sustained expansion in size, innovation, and adoption through 2031, driven by a combination of technological progress and shifting consumer behaviors. The analysis highlights the current market dynamics, major growth drivers, key challenges, recent advancements, and emerging opportunities that stakeholders should watch.

Key Growth Drivers in the Residential IoT Market

1. Increasing Adoption of Smart Home Technologies: - The growing popularity of smart home solutions continues to propel demand for residential IoT devices. Consumers are embracing technologies like smart lighting, thermostats, and security systems that offer improved convenience, energy efficiency, and remote operability. These features are becoming essential components in modern, connected homes.

2. Advancements in Connectivity Standards: Technological progress in communication protocols such as Wi-Fi 6, Zigbee, and Z-Wave is enhancing the reliability and interoperability of smart devices. These improvements are fostering more seamless integration of various IoT products, simplifying the user experience, and boosting adoption across households.

3. Declining Costs of Sensors and Hardware: As manufacturing techniques advance and production scales up, the cost of essential components such as microcontrollers, modules, and sensors continues to fall. This reduction is making smart devices more accessible to middle-income consumers, encouraging wider market penetration and sparking innovation in form factor and function.

4. Supportive Government Policies: Governments around the world are introducing regulations and incentives aimed at promoting energy efficiency and smart infrastructure. Programs offering tax credits, rebates, and grants—alongside broader smart city initiatives—are encouraging the installation of connected devices such as smart HVAC controls, meters, and lighting systems in residential settings.

5. Expanding Internet and Smartphone Penetration: A growing number of households now have consistent internet access and smartphone usage, which facilitates remote monitoring and control of smart home devices. With voice assistants and mobile apps now commonplace, consumers are increasingly drawn to connected home ecosystems for their convenience and functionality.

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Recent Developments and Market Momentum

Major players in the industry continue to push the boundaries of innovation and strategic expansion:

• Samsung Electronics, on August 26, 2025, announced IoT security certification for its Bespoke AI Jet Bot Steam, Jet Bot Combo, and AI Refrigerators from TÜV Nord, reinforcing trust in its smart appliances.
• Just a day earlier, Samsung also extended its One UI platform to its full range of smart appliances, enhancing integration across phones, TVs, and home devices.
• Honeywell, on June 10, 2025, launched the Honeywell Connected Solutions platform, an AI-powered interface for building operations, with early adopters like Verizon and Vanderbilt University.
• On March 11, 2025, Honeywell also introduced the NXU Residential Smart Gas Meter, which supports automation and remote operability, boosting utility safety and efficiency.
• LG Electronics showcased its AI-powered innovations under the theme “Life’s Good 24/7 with Affectionate Intelligence” at CES 2025, emphasizing AI’s growing role in enhancing daily life.
• In August 2024, LG unveiled the ThinQ ON AI Home Hub, designed to be the command center for connected living, seamlessly integrating with appliances to deliver personalized experiences.

Strategic Collaborations and Industry Players

Notable partnerships are helping to shape the future of the residential IoT landscape:

• Kontron and Qualcomm Technologies announced, on March 11, 2025, the advancement of their collaboration involving the integration of 5G, AI, and edge computing into Kontron’s next-gen embedded solutions—further enabling smarter residential applications.

Key companies actively participating in the residential IoT devices market include:

• Amazon.com, Inc.
• Bosch.IO GmbH (Robert Bosch GmbH)
• ecobee
• Google LLC
• Honeywell International Inc.
• LG Electronics
• Qualcomm Technologies, Inc.
• Radio Thermostat Company of America
• Samsung Electronics

 Market Outlook and Future Trends

Looking ahead, the residential IoT devices market is poised for rapid growth, driven by an increasing demand for energy-saving solutions, AI integration, smarter connectivity, and enhanced user experiences. With improving affordability, secure interoperability, and robust government support, more homes will transform into intelligent living spaces. The industry will continue to innovate, adapting to evolving consumer preferences and technological advancements.

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