Report: Worldwide shipments of smart home devices continue to decline in 2023; expected to last into 2024

NEEDHAM, Mass. – Global shipments of smart home devices continued to decline in the first quarter of 2023 as shipments fell 5.6% year over year to 186.0 million units, according to the International Data Corporation (IDC) Worldwide Quarterly Smart Home Device Tracker. Smart speakers and networked video entertainment devices faced the steepest declines in the first quarter, down 15.4% and 7.8% respectively compared to the prior year. Looking ahead, IDC expects the market to decline by 1.8% overall in 2023 as weak consumer demand and economic volatility continue to put significant downward pressure on the market. Although much uncertainty exists, IDC expects the market will return to growth in 2024 and continue through 2027 with device volumes reaching 1.1 billion shipments in 2027.

Apart from smart speakers and networked video entertainment devices, many other smart home categories such as lighting, thermostats, and home monitoring and security devices are expected to witness high growth over the next five years in part due to rising consumer awareness of smart home devices in many parts of the world and the rise of emerging markets.

IDC's Worldwide Quarterly Smart Home Device Tracker provides insightful analysis, quarterly market share data, and a five-year forecast for the smart home device market.

Read the full press release here.

IDC