Report: World Shipments Of Smart Home Devices Forecasted To Grow To 815 Million In 2019, And To 1.39 Billion in 2023
A report by the International Data Corporation (IDC) has forecasted worldwide shipments of devices for smart homes to grown 23.5% in 2019 over 2018 to nearly 815 million. The report also forecasted a 14.4 percent annual compound growth rate to about 1.39 billion shipments in 2023.
According to the announcement about the report:
"Video entertainment devices are expected to maintain the largest volume of shipments, accounting for 29.9% of all shipments in 2023... Home monitoring/security devices like smart cameras and smart locks will account for 22.1% of the shipments in 2023... Growth in smart speakers and displays is expected to slow to single digits in the next few years... as the installed base of these devices approaches saturation and consumers look to other form factors to access smart assistants in the home, such as thermostats, appliances, and TVs to name a few."
The report, titled "Worldwide Quarterly Smart Home Device Tracker," includes familiar products such as Amazon Echo, Google Home, Philips Hue bulbs, smart speakers, smart thermostats, and connected doorbells. The report covers Asia/Pacific, Canada, Central and Eastern Europe, China, Japan, Latin America, the Middle East and Africa, the United States, and Western Europe.
Surveys in 2018 found that most consumers are satisfied with in-home voice-controlled assistants, and performance issues hinder trust and device adoption. A survey in 2017 found that 90 percent of consumers want security built into smart-home devices. Also in 2017, researchers warned that a hacked Amazon Echo could be turned into always-on surveillance devices.
And, consumers should use these privacy tips for smart speakers in their homes.
Today's smart homes contain a variety of internet-connected appliances -- televisions, utility meters, hot water heaters, thermostats, refrigerators, security systems, solar panels -- and internet-connected devices you might not expect: mouse traps, water bowls and feeders for your pets, wine bottles, crock pots, toy dolls, trash/recycle bins, vibrators, orgasm trackers, and adult sex toys. It is a connected world, indeed.