TECH SUPPLIER Apr 2020 - Market Forecast - Doc # US46187720

Worldwide Smart Home Device Forecast, 2020–2024

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

Abstract

This IDC study provides a five-year forecast for the worldwide smart home device market.

"While it's still early days for the smart home market, we expect to see considerable growth over the next few years, especially as consumers become more aware of and increasingly interact with smart assistant (SA) platforms like Amazon's Alexa and Google Assistant," says Adam Wright, senior research analyst for IDC's Internet of Things Consumer research program. "However, in the year ahead, uncertainty remains about the impact of the novel coronavirus pandemic on the adoption of smart home devices and services. Supply chain and logistics constraints will remain for some time, and the increasing likelihood of a global recession will produce demand-side shocks to the market that could further inhibit growth in the near term."


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