The global smart home market has witnessed impressive growth in recent years, driven by the growing adoption of smart devices, the increasing need for energy-saving solutions, and the rising importance of home monitoring systems. According to data presented by BuyShares.co.nz, the revenues of the global smart home market jumped by 16% year-over-year to $77bn in 2020. The increasing trend is set to continue this year, with smart home revenues growing by 28% YoY and reaching $99.5bn in 2021.