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Market for smart devices to cross 500 mn units for the first time in 2018

Overall, the market for smart devices will remain hot for years to come, growing at a compound annual growth rate (CAGR) of 12 per cent from 2018-2022

Topics
Smart Devices  |  Amazon Echo  |  Google Chromecast

Business Standard 



Representative Image
Representative Image

The market for smart devices, including smart speakers, digital media adapters, lighting, thermostats and many others, is expected to cross half a billion units for the first time in 2018. Analyst firm IDC expects demand for such devices to grow 26.8 per cent over the previous year to 549.5 million units (to be shipped) in 2018. Smart speakers such as the and Google Home, and video entertainment devices such as the Amazon Fire Stick and will make up 71 per cent of this market, according to the report. Overall, the market for will remain hot for years to come, growing at a compound annual growth rate (CAGR) of 12 per cent from 2018-2022.

High growth categories

While majority of the sold in 2018 will either be smart speakers or some sort of smart video entertainment devices, other categories are expected to grow faster at CAGR of 25.3 per cent versus CAGR 12 per cent for the overall market.

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First Published: Wed, August 08 2018. 21:58 IST

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