IDC: 1.6 billion smart devices could ship by 2023

Smart speakers have been rising in popularity since their debut, and new data from the International Data Corporation anticipates that the global market for smart home tech will grow 26.9% in 2019 to 832.7 million shipments. The segment is projected to see a compound annual growth rate of 16.9% from 2019 through 2023. Nearly 1.6 billion devices are expected to ship in 2023, including categories such as smart thermostats, security systems, lighting, and video entertainment.

For smart speakers, the 2019 shipments are projected to be 144.3 million and could grow to 240.1 million in 2023. The compound annual growth rate for this product category over the period is expected to be 13.6%.

“2018 was all about getting products into consumers’ homes and both Amazon and Google excelled at this through low-cost smart speakers and multiple bundles across device categories,” Jitesh Ubrani, research manager for IDC Mobile Device Trackers, said. “However, 2019 will be more about tying the various devices together to form a more cohesive experience and more importantly, layering in additional services.”

“One important trend to watch is how smart assistants become integrated throughout the home,” said Ramon T. Llamas, research director for IDC’s Consumer IoT Program. “Smart assistants will act as the point of contact with multiple smart home devices and essentially become the cornerstone of the smart home experience. Already we’ve been seeing that with smart speakers and this will eventually move on to appliances, thermostats, and all sorts of video entertainment.”

Anna Washenko