According to Futuresource Consulting, global smart home device shipments reach "nearly" 110 million units, bringing revenues worth around $17 billion and "strong" growth in both volume and value.
“Smart home devices have clearly captured the attention of consumers. There’s no doubt the market is making its presence felt, finishing 2018 on fine form,” the analyst says. “The way smart devices help with daily tasks, improve security and generate savings in energy bills are all reasons that this is the fastest growing area of consumer electronics, on track to finish the year at 39% volume growth and 28% value growth.”
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Security and monitoring devices-- smart cameras, video doorbells, smart locks and smart detectors-- account for 60% of total 2018 device shipments, making the largest smart home category. The category also boasts the highest ASPs, leading to 2018 revenues worth $10bn. According to Futuresource, penetration rates will remain strong in the near future, and 7% of homes worldwide will have at least one smart security device by 2022.