Global shipments of smart home devices fell 5.6 percent to 186 million units in the first quarter of 2023, according to IDC.
Smart speakers and networked video entertainment devices dropped 15.4 percent and 7.8 percent respectively in the first quarter.
IDC expects the smart home devices market to decline by 1.8 percent overall in 2023 as weak consumer demand and economic volatility continue to put significant downward pressure on the market.
The smart home devices market will return to growth in 2024 and continue through 2027 with device volumes reaching 1.1 billion shipments in 2027.
