In 2023, the Smart Home market reach 810 million euros, up 5% from 2022, outpacing the European average. Despite this, Italy remains well behind other countries in terms of per capita expenditure, with 13.7 euros per inhabitant compared to the European average of 28.8 euros. The expansion of the Italian market may have been greater. These are some of the findings from the Smart Home research conducted by the Internet of Things Observatory at the Politecnico di Milano School of Management. The slowdown in growth relative to previous years (+18% in 2022, +29% in 2021) is owing to reduced incentives. Sales of smart energy-saving products, specifically boilers, heat pumps, thermostatic valves, and thermostats, were notably affected. However, 2023 has brought important news about the supply and demand for smart home solutions. In fact, the number of companies providing novel services is increasing as data collected by devices improves and IoT solutions are integrated with AI algorithms. The selling of hardware devices is viewed as a strategy of expanding their client base, and businesses are beginning to look more closely at emerging IoT solutions based on Generative AI.
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