Market for Smart Home Devices Expected to Grow 26.9% This Year [Chart]

Market for Smart Home Devices Expected to Grow 26.9% This Year [Chart]

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The global market for smart home devices is expected to grow 26.9% this year to 832.7 million shipments, reports IDC. Annual growth is predicted to continue at about 16.9% from 2019 to 2023 with 1.6 billion devices forecasted to ship in 2023.

"2018 was all about getting products into consumers' homes and both Amazon and Google excelled at this through low-cost smart speakers and multiple bundles across device categories," said Jitesh Ubrani research manager for IDC Mobile Device Trackers. "However, 2019 will be more about tying the various devices together to form a more cohesive experience and more importantly, layering in additional services."

While Amazon and Google will likely dominate the smart home market, Apple is expected to make gains. The company's move to expand services to non-Apple products may help the company entice users into their ecosystem. IDC also predicts Samsung will be another company to watch as its products extending into every category.

"One important trend to watch is how smart assistants become integrated throughout the home," said Ramon T. Llamas, research director for IDC's Consumer IoT Program. "Smart assistants will act as the point of contact with multiple smart home devices and essentially become the cornerstone of the smart home experience. Already we've been seeing that with smart speakers and this will eventually move on to appliances, thermostats, and all sorts of video entertainment."

Take a look at the chart below for more details...

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Market for Smart Home Devices Expected to Grow 26.9% This Year [Chart]

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