Consumer smart home spending worldwide 2015-2025

Consumer spending on smart home products and services is forecast to grow to more than 170 billion U.S. dollars by 2025. At that time the number of households with smart home systems is projected to exceed 400 million globally.

Smart Home Systems

Smart home systems provide a variety of functions that can be managed remotely by a smartphone or computer. Many consumers are likely to purchase smart speakers and smart home entertainment systems. However, use of smart devices goes beyond simply entertainment, as smart home appliances such as security systems or automatic heating and lighting can help improve the safety and comfort of being at home.

Smart speaker: a versatile favorite

Smart speakers are an increasingly popular component of a smart home and will have shipped over 98 million units by the end of 2019. These devices are more than simply music players, as many have smart assistant capabilities, and can respond to verbal prompts or command other smart home devices. Of these speakers, a majority are sold by Amazon, though in recent quarters, Google and Baidu have both grown to be close competitors in terms of unit shipments.