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TECH SUPPLIER Apr 2018 - Market Forecast - Doc # US43745218

Worldwide Smart Home Device Forecast, 2018–2022

By: Adam WrightSenior Research Analyst, Internet of Things: Consumer

Abstract

This IDC study provides IDC's forecast for the worldwide smart home device market for the 2018–2022 forecast period.

"While it's still early days for the smart home market — and the wider consumer IoT ecosystem in general — we expect to see considerable growth over the next few years, especially as consumers become more aware of and increasingly interact with smart assistant platforms like Amazon's Alexa and Google Assistant," says Adam Wright, senior research analyst for IDC's Consumer Internet of Things research program. "Whether in the form of a smart speaker or embedded in a thermostat, fridge, TV, or any other device, smart assistants are quickly becoming the cornerstone of consumer IoT by enhancing the accessibility, use, and functionalities of connected devices, which will noticeably boost adoption rates in the near future. That being said, issues around interoperability, security and privacy concerns, and the cost of devices will continue to be leading inhibitors to the market's growth."


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