Global Smart Home devices market up 10.3% in 3Q 2021

Worldwide Smart Home Devices Market Grew 10.3% in Third Quarter 2021, Says IDC

NEEDHAM, Mass. — The worldwide market for smart home devices grew 10.3% year over year in the third quarter of 2021 (3Q21) with more than 221.8 million device shipments, according to the International Data Corporation (IDC) Worldwide Quarterly Smart Home Device Tracker. Despite supply chain disruptions, unemployment and uneven economic recovery, consumers still want smart home devices such as smart TVs and smart speakers.

“The smart home market continues to fare better than other consumer goods during the ongoing Covid-19 pandemic, although to varying degrees in different regions,” said Adam Wright, senior research analyst, Smart Home and Office Devices. “By and large, consumers have shifted their spending priorities from other areas like vacations and going out to eat to focus on adding more comfort, conveniences, and entertainment at home.”

The United States held the largest share of unit shipments in the third quarter and grew 9.5% quarter-over-quarter. China was the second-largest country by shipment volume with 24.7% of shipments but had negative growth of 5.2% compared to 2Q21. Western Europe and Latin America posted solid sequential growth of 17.9% and 15.0%, respectively.

” Not only are consumers purchasing more devices but they’re also buying up stacks as average selling prices have increased upwards to 3%,” stated Jitesh Ubrani research manager for IDC Mobile Device Trackers. The price rises are partly due to supply disruptions, but new products and better features across all device types have also played an important role. As OLED displays gained popularity, the ASPs of TVs rose by nearly 7%. Similarly, smart displays, which typically cost more, are also outpacing traditional smart speakers.”

Video entertainment devices like smart TVs and streaming players maintained the largest volume of shipments in the third quarter, accounting for 35.3% of all shipments. Home monitoring/security devices like smart cameras and smart locks accounted for 20.4% of shipments and grew 13.5%. Despite the current health crisis, the main factors driving global market growth include increasing broadband penetration, rising disposable incomes and rapidly growing consumer awareness of smart home products – partly driven by extensive marketing campaigns and consumer education campaigns from leading vendors. 32.9% 20.8 15.9 7.1% Lighting 15.7 .8% .8 .9% Other.7 (7.8% 5%).2 0%.2%.3 (4).3Q) Source: IDC Worldwide Quarterly Smart Home Device Tracker, December 9, 2009, 9 (9/12).

Smart Home Devices by Shipment Volume, Market Share, and Year-Over-Year Growth, Q3 2021 (shipments in millions)

                                       3Q21               3Q20  Year-Over                                 3Q21  Market       3Q20  Market      -Year                            Shipments   Share  Shipments   Share     Growth                            ---------  ------  ---------  ------  ---------  Video Entertainment            78.3   35.3%       80.1   39.8%      -2.3%  Home Monitoring/Security       45.2   20.4%       39.8   19.8%      13.5%  Smart Speaker                  32.0   14.4%       29.9   14.9%       7.1%  Lighting                       21.1    9.5%       14.0    7.0%      50.5%  Thermostat                      5.6    2.5%        4.5    2.2%      23.9%  Others                         39.7   17.9%       32.8   16.3%      21.0%                            ---------  ------  ---------  ------  ---------  Total                         221.8  100.0%      201.2  100.0%      10.3%

Source: IDC Worldwide Quarterly Smart Home Device Tracker, December 9, 2021