The smart home market has been steadily growing, with security cameras, smart speakers, and smart TVs currently dominating the market. According to Counterpoint’s latest research, growth at a CAGR of 21% is projected from 2019-2025. We are expecting six billion Wi-Fi capable smart home devices will be shipped globally between 2020-2025.
Smart speakers have been the fastest-growing smart home devices due to the low entry barrier. They offer access to voice assistants and let you control other smart home devices. Security cameras offer additional layers of security and peace of mind, whereas connected TVs challenge conventional cable viewing by helping people ‘cut the cord’. In the next five years, other segments such as dishwashers, refrigerators, and laundry machines with smart home capabilities are likely to get more mainstream.
In the latest episode of “The Counterpoint Podcast” host Ritesh Bendre and Counterpoint Research analyst Maurice Klaehne discuss the current state of the smart home market. Maurice sheds light on why we believe Wi-Fi 6 will drive the smart home connectivity by 2025. The discussion also touches up the strongest growth areas in the segment as more household items become connected. These include white goods, smart lighting, and home automation segments.
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Author
Ritesh Bendre
Ritesh is a Global Content Manager with Counterpoint Technology Market Research. With over 15 years of experience, he is joining us from BGR India where he was the Head of Features. At BGR, Ritesh also used to cover tech news, product launches, and review consumer tech. Ritesh is a science graduate from Mumbai University, with major in Physics. He followed his passion for tech, took up writing as a career and is also a well-known tech journalist in the industry.
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