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Global shipment forecast for smart home devices 2018-2024, by category

The global shipment total for smart home devices is expected to reach around 854 million units in 2020, with 353.9 million of those coming from the video entertainment category alone. Of the specifically described types of devices, home monitoring/security is the section that is expected to grow the most between 2020 and 2024 at a CAGR of 16.2 percent.

A man's home is his (well-watched) castle

Home monitoring and security devices include items such as video surveillance cameras and video doorbells. With strong product offerings such as Google's Nest and the Arlo Pro devices (Arlo is no longer a Netgear company), the network video surveillance market was estimated to have around 1.1 billion U.S. dollars in revenue at the end of 2018. Closely overlapping with home security cameras are video doorbells, a comparatively young smart home market expected to reach 1.4 billion U.S. dollars in spending by 2023.

What smart devices are in the "other" category?

The "other" category of smart home devices is another segment anticipated to reach high numbers of shipments. This section includes sensors and detectors as well as smart switches and digital health devices. One reason this section of various devices could increase is that, as the smart home market grows, more devices that were previously not connected will be developed to have smart capabilities. For example, the use of robotic vacuum cleaners increased in recent years.

Smart home device shipment forecast worldwide from 2018 to 2024, by category

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Source

Release date

September 2020

Region

Worldwide

Survey time period

2018 to 2020

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Statistics on "Smart home"

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