In 2023, sales of smart home equipment will exceed 1.9 billion units

According to the latest research, by 2023, the global demand for smart home devices will soon exceed the sales of smart phones.

Strategy Analytics research shows that in 2017, the global smart home equipment sales volume was 663 million, and this number is expected to increase to 1.94 billion by 2023.

The report said: "In 2018, total expenses related to hardware, services, and installation of smart homes will reach nearly 96 billion U.S. dollars. It is estimated that by 2023 it will reach 155 billion U.S. dollars and the compound annual growth rate will reach 10%." Meanwhile, "2018 The annual equipment expenditure will reach 53 billion U.S. dollars, accounting for 55% of the total; in 2023, it will reach 78 billion U.S. dollars, accounting for 51% of the total expenditure, and the compound annual growth rate will be 8%."

The 2018 Global Smart Home Devices Forecast (2018 Global Smart Home Devices Forecast) This research report focuses on smart home devices that include smart speakers, security cameras, smart light bulbs, smart door locks, digital thermostats, gateways, and sensor devices. and many more.

At the same time, the report also shows that the increase in demand for smart home devices is mainly due to factors such as price reduction, service improvement, experience improvement, and rapid technological development.

The fastest-growing category this year is expected to be smart speakers, such as Amazon Alexa and Google Home, with growth rates exceeding 100%. Other fast-growing areas will include smart lightbulbs (such as Philips Hue), connected smoke detectors, smart door locks (such as Amazon's August smart lock), gateways and control centers, and security cameras (such as Google's Nest Cam) and so on.

Bill Ablondi, Director of Strategy Analytics' Smart Home System, said: In recent years, the emergence of smart home as a popular concept has brought new opportunities for suppliers and technology developers. At the same time, the field of smart home devices is still in its infancy, and many players are currently fighting for market position. However, the scale of the huge market demand in the future shows that all players have a chance.