Shipments approach 900 million units, with strong growth in the smart home market

According to data from the International Data Corporation ( IDC ) Global Smart Home Device Quarterly Tracking, the global smart home device market grew by 11.7% in 2021 compared to 2020, with shipments exceeding 895 million units .

Although the market is currently experiencing fluctuations due to various uncertainties such as the continued impact of the epidemic, the cost crisis caused by inflation, supply chain obstacles , and consumer demand , IDC predicts that with the popularization of smart homes, the force majeure of working from home, and the improvement of environmental protection and energy-saving awareness , smart home users will become a potential consumer group.

A senior consumer research analyst said that the concept of smart home has become mainstream in many economically developed regions, and online purchase of smart home products has become a popular trend. This change is also penetrating into slightly backward regions.

Earlier, eBay released a report summarizing the hot search keywords and best-selling products on the German site in the past two years . The search volume for " smart home products " has increased fivefold . In addition, the online market demand for home products such as smart kitchen appliances has also risen rapidly .

It is understood that the smart home market in North America is large, accounting for the largest share of unit shipments in 2021, an increase of 11.4% year-on-year. Asia Pacific is the second largest export market, accounting for 31% of shipments , an increase of 10.8% year-on-year. Western Europe and Latin America achieved solid growth of 14.8% and 11.2% respectively.

Smart connected video entertainment devices such as smart TVs, streaming sticks and connected set-top boxes will have the largest shipments, accounting for 34.7% of shipments in 2021, a year-on-year increase of 4.8%. Smart lighting devices are expected to become the fastest growing device category, with a compound annual growth rate of 23.6% over the next five years .

IDC said in the report that as users seek more connected experiences at home, shipments of smart home devices reached 895 million. In 2021, video entertainment smart home devices accounted for 35% of the smart home market, and home monitoring/security accounted for 21%. Previous statistics predicted that the global smart home market sales in 2021 would be approximately US$99.4 billion.

IDC predicts that the smart home market will continue to grow steadily in the next five years and will achieve double-digit growth by 2026. Among them, online purchases of smart home products will become the preferred channel for consumers due to the diversity of choices and the convenience of delivery services.

Although the smart home market has a lot of room for growth, factors such as privacy, security, cost and interoperability may become obstacles to market development . Emerging markets have both challenges and opportunities, and sellers can assess the situation and make strategic arrangements .

Smart Home

Kitchen appliances