Smart TVs, which represented the largest category, experienced a 4.3% decline in 2022 due to tough year-over-year comparisons as the market for TVs and other products was extremely strong in 2021 due to Covid-related purchasing.
IDC said driving the market's growth at a global level is rising broadband penetration, rising disposable incomes, and rising consumer awareness of smart home devices and the cost savings, convenience, and energy efficiencies that they can deliver.
Despite persistent supply chain disruptions, unemployment, and an uneven economic recovery, consumer demand remained high for smart home devices like smart TVs, smart speakers, and other devices.
Despite a decade of annual double-digit growth, the smart home market will remain stymied without significant development of its richest resource – smart home intelligence.
A global emphasis on working from home combined with advice to minimize Covid-19 transmission from shared surfaces even within a home, will help cement the benefits of smart home voice control for millions of consumers.
