Recently, IDC released the latest quarterly global smart home device tracking report. The report shows that the global smart home device market will grow by 11.7% in 2021 compared to 2020, with more than 895 million units shipped.
IDC expects the global smart home device market to grow steadily over the next five years as smart home users expand the reach of their smart home ecosystem and seek more sophisticated connected experiences.
North America will have the largest share of unit shipments in 2021, growing 11.4% year over year. The Asia-Pacific region ranked second in shipments, accounting for 31% of shipments, an increase of 10.8% year-on-year. Western Europe and Latin America posted strong growth of 14.8% and 11.2%, respectively.
In terms of device types, network video entertainment devices such as smart TVs, TV boxes and connected set-top boxes accounted for the largest shipments with a 34.7% share, up 4.8% year-on-year.
Smart lighting is expected to be the fastest growing device category with a five-year compound annual growth rate (CAGR) of 23.6%.
The global growth of the smart home market will be further driven by increasing broadband penetration, rising disposable income, and consumer awareness of the convenience and energy efficiency that smart home devices bring to life.