Press Release

A USD 250 Million the Philippines Smart Home Market to Accelerate at a CAGR of Around 7% By 2030

The Philippines Smart Home Market size is valued at around USD 250 million in 2024 and is anticipated to reach USD 350 million by 2030. Along with this, the market is projected to grow at a CAGR of about 7% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in their recent research report. A smart home is a suitable home with increased convenience, security, and functionality, with smart devices and appliances equipped in it. Homeowners can easily operate these smart devices and appliances through their smartphones or any other devices simply through the internet. These smart appliances include products related to entertainment, smart kitchen tools, HVAC tools, etc.

The growth of the smart home devices industry is attributed to the convenience and suitability they offer. Along with it, the rising demand for energy-efficient–devices, and the growing penetration of automated smart devices based on the Internet are driving the market growth & expansion. Further, most of the demand for natural gas and energy in the country is fulfilled by the Malampaya gas field which is expected to drain out by 2027, creating huge power crises for the country. This has led to the inclination towards the use of smart devices that optimize the use of electricity and reduce power bills.

Moreover, smart devices offer automatic power control with remote access to reduce electricity usage. On average, the power consumption rate of smart appliances is 30% less than traditional electric appliances. Based on the type of device and its configuration, this rate decreases up to 50%. Therefore, the regional government of the Philippines is also promoting the use of energy-efficient devices, and in 2023, the Department of Energy (DOE) claimed that an investment worth more than USD 120 million was made for energy efficiency.

The Philippines Smart Home Market size is valued at around USD 250 million in 2024 and is anticipated to reach USD 350 million by 2030. Along with this, the market is projected to grow at a CAGR of about 7% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in their recent research report. A smart home is a suitable home with increased convenience, security, and functionality, with smart devices and appliances equipped in it. Homeowners can easily operate these smart devices and appliances through their smartphones or any other devices simply through the internet. These smart appliances include products related to entertainment, smart kitchen tools, HVAC tools, etc.

The growth of the smart home devices industry is attributed to the convenience and suitability they offer. Along with it, the rising demand for energy-efficient–devices, and the growing penetration of automated smart devices based on the Internet are driving the market growth & expansion. Further, most of the demand for natural gas and energy in the country is fulfilled by the Malampaya gas field which is expected to drain out by 2027, creating huge power crises for the country. This has led to the inclination towards the use of smart devices that optimize the use of electricity and reduce power bills.

Moreover, smart devices offer automatic power control with remote access to reduce electricity usage. On average, the power consumption rate of smart appliances is 30% less than traditional electric appliances. Based on the type of device and its configuration, this rate decreases up to 50%. Therefore, the regional government of the Philippines is also promoting the use of energy-efficient devices, and in 2023, the Department of Energy (DOE) claimed that an investment worth more than USD 120 million was made for energy efficiency.