No Clear Winners Yet in Surging Smart Home Market, Says Strategy Analytics

Worldwide consumer spending on smart home devices, systems and services, up 16 percent to $84 billion last year, is forecast to reach nearly $96 billion in 2018 and $155 billion by 2023, said a Wednesday Strategy Analytics report. North America will have 41 percent of total spending, $40 billion, followed by the Asia-Pacific region at $26 billion and Western Europe at $17 billion, said SA. “Consumer awareness is rising, prices are coming down, and the technology is becoming more intuitive," said analyst Bill Ablondi, also citing a "high degree of fragmentation" in a competitive market with no clear winners.