The smart home market is expected to increase by 23% in volume terms for 2023, amounting to 257.7 million units, across Smart Cameras, Thermostats, Locks, Lighting, Video Doorbells, and Robot Vacuum Cleaners.
Adoption of smart home devices continues to climb, fueling market growth worldwide across the smart camera, lock, thermostat, lighting, video doorbell, and robot vacuum categories. 2023 is anticipated to see shipments totalling 257.7 million worldwide.
While many home technology markets are experiencing a period of sluggish growth, the smart home market continues to perform well, despite accounting for a small slice of overall technology spending. As a result, the smart home market will be crowned as one of the best-performing segments of consumer electronics in 2023.