Global shipments of smart home devices declined for the first time in 2022 as shipments fell 2.6% year over year to 871.8 million units, according to the International Data Corporation (IDC) Worldwide Quarterly Smart Home Device Tracker. Smart TVs, which represented the largest category, experienced a 4.3% decline in 2022 due to tough year-over-year comparisons as the market for TVs and other products was extremely strong in 2021 due to COVID-related purchasing. Looking ahead, IDC forecasts a modest 2.2% growth in smart home device shipments in 2023 as the global economy recovers. This growth is expected to continue through 2027 with device volumes reaching 1.23 billion in 2027.

"Smart TVs will likely face another year of decline in 2023 due to macroeconomic pressures and long replacement cycles," said Jitesh Ubrani, research manager for IDC's Mobility and Consumer Device Trackers. "With the recent entrance of value-oriented brands such as Amazon and Roku, IDC expects further declines in average selling prices for TVs while also bringing premium features down to more affordable price points."

Apart from TVs, most other smart home categories such as security cameras, connected doorbells and door locks along with smart displays are expected to grow thanks to a growing installed base, a recovering economy, and the rise of emerging markets.

"The worldwide smart home market is in a period of volatility," said Adam Wright, research manager, Smart Home and Office Devices at IDC. "Ongoing disruptions from supply chain issues, inflation, and uneven economies across the globe have impacted the market's growth in 2022 and are expected to continue to put downward pressure on the market for the foreseeable future. But despite these constraints, the notion of the smart home is now 'mainstream' in many parts of the world and consumers are increasingly looking to these devices to elevate their digital experiences at home and beyond."

* Table Note: All values are forecast estimates.

In addition to the table above, a graphic illustrating IDC's 2022-2027 forecast for worldwide smart home device shipments by product category is available by viewing this press release on IDC.com.

IDC's Worldwide Quarterly Smart Home Device Tracker provides insightful analysis, quarterly market share data, and a five-year forecast for the smart home device market.

About IDC Trackers

IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly Excel deliverables and on-line query tools.

For more information about IDC's Worldwide Smart Home Device Tracker, please contact Jackie Kliem at 508-988-7984 and jkliem@idc.com.

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International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

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Global shipments of smart home devices declined 2.6% year over year to 871.8 million units in 2022, according to the IDC Worldwide Quarterly Smart Home Device Tracker.