The smart home market globally will ship 550 million devices this year, growing 27% over the previous year, according to the new International Data Corporation Worldwide Quarterly Smart Home Device Tracker.
Devices include smart speakers, digital media adapters, lighting and thermostats, with the video entertainment category, primarily smart TVs and media adapters, as the largest part of the smart home market.
The total smart device market will grow from $206.8 billion this year to $297.5 billion in 2022.
"With TVs being the centerpiece of many homes, device and platform makers are competing for users' attention with the inclusion of smart assistants and other over-the-top services," stated Jitesh Ubrani, senior research analyst for IDC. "While Amazon's Alexa leads in this space today, the Google Assistant is expected to gain dominance in the future as an increasing number of international brands include support and consumers' familiarity with the Assistant on smartphones leads to growing demand for the Assistant on TVs."
Video entertainment sales are projected to grow from $157 billion this year to $192 billion in 2022 while smart speakers are projected to grow from $12 billion this year to $28 billion in four years.