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Smart home devices fall 2.6% due to lack of chips

Date: June 18, 2024 Time: 01:35:46

In the context of inflammation suffered by economies throughout the world coupled with continuous shortages of semiconductors on assembly lines, smart home devices will fall this year by 2.6%, to 874 million units worldwide, according to the consultancy IDC.

The consumption of these devices is expected to return to the growth path in 2023, albeit slightly, with expectations of an increase of 4.6%, especially due to the increase in demand in emerging markets and China, according to data that runs the US consultancy IDC.

The flagship products are surveillance and security

The brunt of the decline has been taken by smart speakers and video entertainment devices (set-top boxes, streaming devices and TVs).

On the other hand, surveillance and home security products (cameras, bells and door locks), as well as smart lighting products registered the highest growth.

According to IDC, the continued growth rate from 2022 to 2026 will be 8%, reaching 1,189.1 million units shipped. The consultancy establishes six categories of products: video entertainment, monitoring-security for the home, smart lights, speakers, thermostats and others.

Video is the one that captures the largest share of the market in 2022 with 296.1 million shipments, 33.9% of the market share and will continue to do so in 2026, although the rate drops to 27.4%. Home security devices are in second place, with 21.6% (188.6 million units sold in 2022), a percentage that will increase to 22.4%. Next are those for intelligent lighting, which currently account for 10.8% of the market (94.7 million units) and in 2026, they will account for 18%.

Smart speakers (116.4 million units shipped in 2022) and thermostats (24.8 million) will be the ones that lose prominence, going from a market share of 13.3% and 2.8%, respectively, to 11.26% and 2.6%. The rest of the smart devices for the home, which are included in the other section, account for 17.6% of the market (with 153.5 million shipments) in 2022 and will increase to 18.4% in 2026.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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