The smart home market continues to grow despite the pandemic
The International Data Corporation (IDC) has made a forecast for the global market for devices for the modern smart home. Despite the pandemic and the difficult economic situation, the industry is showing growth.
The data presented cover such product areas as set-top boxes, monitoring and security systems, smart lighting devices, smart speakers, etc.
IDC analysts believe that by the end of the current year, the total shipments of these devices will reach 854.1 million units. If this forecast is justified, the growth in relation to last year will amount to 4.1%.
The main part of the total volume of deliveries will be set-top boxes and video entertainment devices: their share will be at the level of 41.4%. Another 19.5% will fall on monitoring and security systems. The share of “smart” speakers will be 15.6%. All other products together will occupy 23.4% of the market.
For five years, the CAGR (compound annual growth rate), according to IDC experts, will be 14.0%. As a result, in 2024 the volume of the world market for smart home devices will reach 1.4 billion pieces.
