IDC is out this week with a look at the smart home market in 2018 and predictions for 2019. According to IDC data, the global smart home device market is expected to grow 26.9 percent year-over-year to 832.7 million shipments.
In terms of categories, the home monitoring and security category is expected to continue to dominate with 140.3 million shipments in 2019. Lighting and smart speakers are expected to grow as well, with the former accounting for 56.9 million shipments in 2019 and the latter 144.3 million.
You can read the full IDC report below.
Double-Digit Growth Expected in the Smart Home Market, Says IDC
FRAMINGHAM, Mass., March 29, 2019 – The global market for smart home devices is expected to grow 26.9% year over year in 2019 to 832.7 million shipments, according to the International Data Corporation (IDC) Worldwide Quarterly Smart Home Device Tracker. Sustained growth is expected to continue with a compound annual growth rate (CAGR) of 16.9% over the 2019-2023 forecast period and nearly 1.6 billion devices shipped in 2023 as consumers adopt multiple devices within their homes and as global availability of products and services increases.
“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.”
