Smart Home Market Headed to 1.6 Billion Devices by 2023, Says IDC

The global market for smart home devices will grow 26.9 percent to 832.7 million shipments in 2019, IDC projected Friday, increasing through 2023 to 1.6 billion devices as consumers adopt multiple devices and availability of products and services increases. Last year was about “getting products into consumers’ homes,” led by Amazon and Google with low-cost smart speakers and bundles across device categories, said analyst Jitesh Ubrani. This year, industry will focus on “tying the various devices together” to create a more cohesive experience and “layering in additional services,” he said. Amazon and Google will dominate the smart home market, but Apple is expected to gain traction, said IDC. Samsung “is worth watching” as its products extend into more categories, and the company continues to invest in Bixby and Tizen, said analysts. An important trend to watch is how smart assistants become integrated in the home, said analyst Ramon Llamas. "Smart assistants will act as the point of contact with multiple smart home devices and essentially become the cornerstone of the smart home experience,” Llamas said, noting the experience consumers have with smart speakers today “will eventually move on to appliances, thermostats, and all sorts of video entertainment."