Smarthome Devices Up Says IDC
Amazon has released a bevy of smart home devices which back-up new research from tech analysts IDC that indicates a growing worldwide market for smart home devices.
IDC says the sector is expected to grow 23.5% year on year in 2019 to nearly 815 million device shipments and by more than 1.39 billion in 2023 with a five-year average growth of 14.4%.
The report says a combination of downward pressure on prices from intensifying competition; rising adoption of smart assistants; and rising consumer awareness of the benefits of the systems are driving growth.
The US market is the biggest growth area with a CAGR of 9.5%, reaching more than 560 million units shipped in 2023. China is the second-largest country by shipment volume but represents the highest growth rate of 22.6%, followed by Canada at 19.9% and Europe with 14.7%.