TECH SUPPLIER Oct 2020 - Market Forecast - Doc # US46906020

Worldwide Smart Home Device Forecast Update, 2020–2024: CY 4Q20

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

Abstract

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

"The worldwide market for smart home devices and services remains resilient despite the COVID-19 pandemic," says Adam Wright, senior research analyst for IDC's Smart Home research program. "The market has lost some ground in 2020 compared with prior forecasts — a result of supply-side constraints, high unemployment, and lockdown measures, among other factors — but nevertheless, we anticipate positive year-over-year growth in 2020 across all device categories. As consumers shift their spending priorities from other areas such as vacations, travel, and going out to eat, smart home devices have remained broadly popular."


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