n 2017, 433.1 million intelligent home devices were shipped worldwide, up 27.6% from the previous year.
According to International Data Corporation’s (IDC) Worldwide Quarterly Smart Home Device Tracker, sales of these IP-connected devices will see a CAGR of 18.5% as the market balloons to 939.7 million devices shipped in 2022.
Video entertainment devices specifically, inclusive of smart TVs, digital media adapters and other IP-connected video devices, are forecast to deliver a CAGR of 8.3% for unit shipments over the forecast period. These devices are also expected to capture around three quarters of the dollar value of the entire smart home market as the average sale price for TVs will be among the highest.
Leaders in the TV category during 2017 were Samsung and LG, while category leaders for digital media adapters during the same period were, in order, Amazon, Google and Roku.
Within the smart home market, the smart speaker category, which includes devices like the Amazon Echo and Google Home, will remain the fastest growing category throughout the forecast. These gadgets are widely seen as important for connected TV strategies going forward.
Meanwhile, shipments for most other categories, with the exception of video entertainment products, will experience a double-digit CAGR during the same period.
“The smart home market is still in its infancy but we’re already seeing some significant changes in consumers’ and vendors’ approach,” said Jitesh Ubrani senior research analyst for IDC Mobile Device Trackers. “There’s less of a focus on having a central hub and apps as the center of the interface as hardware makers race to create interoperability with smart assistants like Alexa, Siri, or Google Assistant. On the other hand, consumers, while still somewhat hesitant to anthropomorphize smart assistants, are beginning to expect a more natural user interface to the myriad of smart-home devices.”
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