MARKET OVERVIEW

The Brazil smart home market reached a size of USD 2.68 Billion in 2024 and is expected to grow to USD 6.68 Billion by 2033, exhibiting a CAGR of 10.70% during the forecast period of 2025-2033. This growth is driven by increasing adoption of IoT and connectivity technologies, rising disposable incomes of the middle-class population, stronger emphasis on energy efficiency and sustainability, rapid urbanization, and growing demand for home security and automation.

STUDY ASSUMPTION YEARS

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

BRAZIL SMART HOME MARKET KEY TAKEAWAYS

• Current Market Size: USD 2.68 Billion in 2024
• CAGR: 10.70% during 2025-2033
• Forecast Period: 2025-2033
• The number of connected devices in Brazil is projected to reach 27.1 billion by 2025, boosting smart home adoption.
• Brazil’s renewable energy sector constitutes 83% of the electricity matrix, encouraging demand for energy-efficient smart home solutions.
• Urban population density at 88% (as of 2023) fosters higher demand for technology-equipped housing and smart home integration.
• Smart city initiatives in megacities like São Paulo and Rio de Janeiro complement smart home technology growth.
• Government incentives such as tax relief and rebates support energy-saving technologies in households.

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MARKET GROWTH FACTORS

The Brazil smart home market is driven by the rise in adoption of IoT and connectivity technologies. According to the Brazilian Association of Internet Things (ABIMC) and ISG Provider, Brazil will have 27.1 billion connected devices by 2025. In addition, a rising number of devices can connect to the internet, including lights, thermostats, and home security systems that can be controlled remotely via smartphone or voice assistant, driving smart home product adoption. This is eased by the growing broadband penetration in urban and rural environments.

The growing demand for energy-efficient systems is one of the key drivers for the growth of the market. According to the International Trade Association (ITA), 83% of Brazil's energy matrix comes from renewable sources. Increasing energy prices and environmental concerns are driving consumer interest in smart thermostats, lighting and energy management hardware and software to monitor and control energy consumption in real-time. In line with this, the government of Brazil has provided concessions on taxes and rebates on energy-efficient devices for residential use.

Additionally, rapid urbanization has played into a key role. In 2023, 88% of people in Brazil lived in cities, this fact drove demand for tech homes. Metropolitan areas such as São Paulo and Rio de Janeiro may have the infrastructure (broadband and electrical systems) in place, and other smart cities in Brazil are incorporating many smart home solutions into public services and infrastructure. This urban and infrastructural development, in turn, eases consumer uptake of smart home systems.

MARKET SEGMENTATION

Device Type Insights:

• Safety & Security Access Control
  • Security Cameras
  • Smart Door Locks
  • Remote Monitoring Software & Services
• Home Appliances
  • Smart Water Heaters
  • Smart Washing Machines
  • Smart Vacuum Cleaners
• HVAC
  • Smart Thermostats
  • Sensors
  • Smart Vents
  • Heating & Cooling Coils
  • Others
• Lighting Control
  • Smart Lights
  • Dimmers
  • Occupancy Sensors
  • Switches
  • Others
• Smart Entertainment Devices
  • Smart Displays/TV
  • Sound Bars & Speakers
  • Others
• Smart Kitchen Appliances
  • Refrigerators
  • Dish Washers
  • Microwave/Ovens
  • Others
• Others

Application Insights:

• Retrofit
• New Construction

Protocol Insights:

• Wired
• Non-Wired

Regional Insights:

• Southeast
• South
• Northeast
• North
• Central-West

RECENT DEVELOPMENTS & NEWS

On 25 June 2024, Tuya Smart, a cloud platform service provider, partnered with Hometree Casa Inteligente LTDA, a prominent smart home service provider in Brazil. They focused on developing advanced smart whole-house solutions aimed at transforming traditional living spaces in Brazil. Hometree Casa Inteligente LTDA is notable for pioneering wireless home automation in Brazil using a franchise model with 14 agents across 14 regions, offering seamless and intuitive smart home experiences.

KEY PLAYERS

• Tuya Smart
• Hometree Casa Inteligente LTDA

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