Worldwide Smart Home Device Forecast Update, 2022–2026: CY 3Q22

Worldwide Smart Home Device Forecast Update, 2022–2026: CY 3Q22

This IDC study updates the five-year forecast for the worldwide smart home device market published in January 2022.At a worldwide level, the total value of smart home device shipments will grow from $289.8 billion in 2021 to $306.3 billion by the end of 2022, representing a year-over-year increase of 5.7%. Over the complete forecast period, shipment value will rise to $382.9 billion in 2026 at a CAGR of 5.7%. Video entertainment devices like smart TVs and digital media adapters will represent the largest share of both shipment units and value in each year of the forecast period. North America will lead the rest of the world in shipment units and value for most of the forecast period — due in part to the region being further along its adoption curve compared with other parts of the world. But in 2025, the Asia/Pacific region with 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 in these parts of the world."While the worldwide smart home market continues to grow, supply chain disruptions and unchecked inflation in many regions are expected to dampen progress in 2022," says Adam Wright, senior research analyst for IDC's Smart Home and Office Devices research. "Some device categories are taking a bigger hit than others — such as smart speakers and smart TVs — which is compounded by high installed bases for these devices in mature markets like North America that is slowing demand."

Please Note: Extended description available upon request.