The Italian Smart Home market is worth 810 million euros

Last year the Italian market of Smart Home has reached altitude 810 million euros, up 5% compared to 2022 but slowing down considering the growth rates recorded in recent years (+18% in 2022 and +29% in 2021). Furthermore, per capita spending, equal to 13.7 euros, continues to be lower than the European average (28.8 euros). This was revealed by a study on the Smart Home conducted byInternet of things observatory from the School of Management of the Polytechnic of Milan.

At the product level, they are the security solutions (video cameras, sensors and locks) to drive the sales of the entire sector with a turnover of 195 million euros (24% of the total) and a growth rate of around 30%. Next we find: smart appliances with 151 million euros in turnover (19%) and a growth rate of 8%; smart heating and air conditioning systems with 148 million euros (18%) and a negative growth rate of 5%; smart speakers (130 million euros, 16% of the market, negative growth rate of 5%).

In terms of purchasing channelsafter the strong growth recorded in 2022 (+40% vs 2021), in 2023 the traditional supply chain has slowed down (360 million euros, 44% of the market, +5%) increasingly undermined by e-tailer (310 million euros, 38% of the market, +20%). In contrast i multi-channel retailer which recorded a reduction in their turnover attributable to smart products (115 million euros, -10%). Best sellers were the small smart appliances for the home, air fryers, coffee makers and microwaves. However, sales of utilities, insurance and telco remain limited (4% of the market).

Based on the survey carried out in collaboration with Bva Doxa which involved a sample of 1,000 individuals aged between 18 and 74, 59% of those interviewed said they own at least one smart object in your home, 70% are very satisfied with their purchases but only 38% have actually connected the devices. There propensity to activate smart functions it would, however, depend on the type of product purchased: it is high for home control and management solutions (68%) and security (64%) while it is low for household appliances (32%). Those who have activated the smart features would tend to use them with a certain consistency: 63% said they do it frequently. 92% of the sample is very satisfied with the level of ‘usability’ of the apps as an interface between the Smart Home and the user; 81% use them at least once or twice a week (60% every day) to check, first and foremost, household appliances (93%) and safety devices (84%); Finally, 11% (-1% vs 2022) use a single app to manage devices from different brands.