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smart home devices 2023

Shipment of smart home devices to grow 4.6% in 2023

Worsening macroeconomic conditions have led to a reduction in the outlook for global smart home device shipments according to the International Data Corporation (IDC) Worldwide Quarterly Smart Home Device Tracker. Worldwide shipments of smart home devices are now expected to decline 2.6% in 2022 to 874 million units with smart speakers and video entertainment devices such as TV and streaming devices facing the brunt of the decline. smart home devices 2023

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“Shipments of smart home devices have been impacted significantly by ongoing supply chain disruptions,” said Adam Wright, senior research manager, Smart Home and Office Devices. “Moreover, we’re witnessing downward pressure on demand in 2022 as inflation continues to squeeze consumers’ wallets. Looking ahead, we expect volatility will continue to inhibit the market’s growth in 2023 and beyond.” smart home devices 2023

Though the global market is forecast to return to growth in 2023, it will remain relatively low at 4.6% with most of the growth coming from emerging markets as well as China. “Though smart speakers arguably helped launch the smart home category, the shine of these products has largely worn off for consumers in developed markets such as the United States and China with shipments expected to decline in the long run,” said Jitesh Ubrani, research manager for IDC’s Mobility and Consumer Device Trackers. “Smart speakers will now rely on emerging markets and places like Europe where language and lack of services have been a barrier to adoption in the past.”

Among the other form factors, home monitoring/security products such as cameras, doorbells, or door locks, as well as smart lighting and video entertainment products will account for the largest share and experience the highest growth rates within the smart home market.

Smart Home Devices by Forecast Shipment Volume, Market Share, and Five-Year CAGR, Q3 2022 (shipments in millions)

Company

2022 Shipments

2022 Market Share

2026 Shipments

2026 Market Share

CAGR 2022 – 2026

Video Entertainment

296.1

33.9%

325.9

27.4%

2.4%

Home Monitoring/Security

188.6

21.6%

266.1

22.4%

9.0%

Lighting

94.7

10.8%

213.5

18.0%

22.6%

Smart Speaker

116.4

13.3%

132.9

11.2%

3.4%

Thermostat

24.8

2.8%

31.3

2.6%

6.0%

Others

153.5

17.6%

219.3

18.4%

9.3%

Total

874.0

100.0%

1,189.1

100.0%

8.0%

Source: IDC Worldwide Quarterly Smart Home Device Tracker, December 22, 2022

With a WiFi speaker, you can stream music from your smartphone, tablet, or laptop. You can connect multiple WiFi speakers to each other to create a multi-room music system. That way, you can stream your music to speakers throughout the entire house. You can operate a WiFi speaker with built-in voice assistant with voice commands. That means you can pause the music or operate your smart lights with your voice.

Smart televisions have their own operating system with useful apps. That means you can watch YouTube videos or missed broadcasts. With most smart televisions, you can also easily cast images from your smartphone or tablet to the screen. Connect the TV to a multi-room soundbar to integrate all your WiFi speakers into the entertainment system. You can just as easily integrate the smart television into your smart home and operate it with a voice assistant.

If you want an even more complete entertainment system, you can also connect the smart lighting to your media devices. The Philips Hue Play Sync Box connects Hue color lighting to your television, so the colors of the lights match the game or movie on the screen. That way, you truly get sucked into what you’re watching. You can personalize your lighting system with the Sync app on your smartphone.

Smart doorbells are an extension of your smart home. A smart doorbell has a camera and app on your smart device. Via the app, you receive push messages when someone rings the doorbell. That way, you’ll know that you have visitors even when you’re not home. Before you purchase a new smart doorbell, think about how you want to connect it. There are doorbells that you connect to your existing wiring and doorbells that work on a battery.


 

 

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