TECH SUPPLIER Oct 2019 - Market Forecast - Doc # US45569319
Worldwide Smart Home Device Forecast Update, 2019–2023: CY 4Q19
This IDC study provides a five-year forecast update for the worldwide smart home device market.
"While it's still early days for the smart home market, we expect to see considerable growth over the next few years, especially as consumers become more aware of and increasingly interact with smart assistant (SA) platforms like Amazon's Alexa and Google Assistant," says Adam Wright, senior research analyst for IDC's Internet of Things Consumer research program. "Whether in the form of a smart speaker or embedded in a thermostat, fridge, TV, or any other device, smart assistants are quickly becoming the cornerstone of consumer IoT by enhancing the accessibility, use, and functionalities of connected devices, which will noticeably boost adoption rates in the near future. That said, issues around interoperability, security and privacy concerns, and the cost of devices will continue to be leading inhibitors to the market's growth."
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