Consumer buying on smart home device slows: IDC

Global smart home device shipments are expected to remain at 897.4 million in 2022 against 2021 with categories such as smart speakers and TVs facing single digit declines.
Smart home device shipment forecast IDC
Shipment of Video Entertainment will reach 331.8 million in 2026 as compared with 302.9 million in 2022.

Shipment of Home Monitoring Security will be flat at 190.5 million in 2026 as compared with 190.5 million in 2022.

Shipment of Smart Speaker will be flat at 124.2 million in 2026 as compared with 124.2 million in 2022.

Shipment of Lighting will be flat at 98.8 million in 2026 as compared with 98.8 million in 2022.

Shipment of Thermostat will be flat at 24.9 million as compared with 24.9 million in 2022.

“The extreme levels of buying that have taken place since the onset of the pandemic are coming to a close for smart speakers, TVs, and streaming devices as demand for these categories will remain muted until the economy sees some improvement towards 2024,” said Jitesh Ubrani, research manager for IDC’s Mobility and Consumer Device Trackers.

North America will lead the rest of the world in both shipments and value for most of the forecast period, due in part to the region being further along its adoption curve compared to other parts of the world, said Adam Wright, senior research manager, Smart Home and Office Devices, IDC report said.

By 2025, the Asia Pacific region will overtake North America in shipment volumes. Rising broadband penetration rates and an influx of vendors entering the market in the Asia Pacific, Latin America, and EMEA regions will significantly contribute to the pace of adoption of smart home devices.