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Smart Home Shipments Forecast to Decline Slightly in 2022 with Modest Growth Expected in 2023, According to IDC Tracker

NEEDHAM, Mass. – Worsening macroeconomic conditions have led a reduction in the outlook for global smart home device shipments according to the International Data Corporation (IDCWorldwide Quarterly Smart Home Device Tracker. Worldwide shipments of smart home devices are now expected to decline 2.6% in 2022 to 874 million units with smart speakers and video entertainment devices such as TV and streaming devices facing the brunt of the decline.

“Shipments of smart home devices have been impacted significantly by ongoing supply chain disruptions,” said Adam Wright, senior research manager, Smart Home and Office Devices. “Moreover, we’re witnessing downward pressure on demand in 2022 as inflation continues to squeeze consumers’ wallets. Looking ahead, we expect volatility will continue to inhibit the market’s growth in 2023 and beyond.”

Though the global market is forecast to return to growth in 2023, it will remain relatively low at 4.6% with most of the growth coming from emerging markets as well as China. “Though smart speakers arguably helped launch the smart home category, the shine of these products has largely worn off for consumers in developed markets such as the United States and China with shipments expected to decline in the long run,” said Jitesh Ubrani, research manager for IDC’s Mobility and Consumer Device Trackers. “Smart speakers will now rely on emerging markets and places like Europe where language and lack of services have been a barrier to adoption in the past.”

Among the other form factors, home monitoring/security products such as cameras, doorbells, or door locks, as well as smart lighting and video entertainment products will account for the largest share and experience the highest growth rates within the smart home market.

Smart Home Devices by Product Category: Forecast Shipment Volume, Market Share, and Five-Year CAGR, Q3 2022 (shipments in millions)
Product Category 2022 Shipments 2022 Market Share 2026 Shipments 2026 Market Share CAGR 2022 – 2026
Video Entertainment 296.1 33.9% 325.9 27.4% 2.4%
Home Monitoring/Security 188.6 21.6% 266.1 22.4% 9.0%
Lighting 94.7 10.8% 213.5 18.0% 22.6%
Smart Speaker 116.4 13.3% 132.9 11.2% 3.4%
Thermostat 24.8 2.8% 31.3 2.6% 6.0%
Others 153.5 17.6% 219.3 18.4% 9.3%
Total 874.0 100.0% 1,189.1 100.0% 8.0%
Source: IDC Worldwide Quarterly Smart Home Device Tracker, December 22, 2022

About IDC Trackers

IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC’s Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly Excel deliverables and on-line query tools.

For more information about IDC’s Worldwide Smart Home Device Tracker, please contact Jackie Kliem at 508-988-7984 or

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