The Market of Smart Home Devices Will Grow by 26.9% in 2019

According to IDC company analysts, this year the market for smart home gadgets will grow by a record 26.9%. This means that during the 12 months of 2019, about 832.7 million smart devices will be delivered worldwide. They also determined the degree of development for this market until 2023. In their opinion, the average annual growth over the next four years will be 16.9%. If their forecast comes true, this means that in 2023 more than 1.6 billion devices will be delivered.

This can be explained by the fact that devices are becoming available to the masses. According to IDC analysts, in the near future, two companies Google and Amazon will be the leaders of this market. But they also did not forget about the Cupertino and South Korean giants Apple and Samsung, that also actively began to develop this industry.

At the moment, the largest segment in this area is Video Entertainment, which includes smart TVs. In 2018, this market was estimated at 133 billion US dollars. According to experts, it will continue to grow at about 9% per year and by 2022 it will be estimated at $201 billion. Considering that the growth of this segment will lag behind the growth rates of the entire industry, by 2023 its share will decrease from 43% to 30.5%.

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