According to IDC 's Worldwide Quarterly Smart Home Device Tracker, the global smart home device market is expected to grow 31% year-over-year in 2018 to reach 644.9 million. The overall smart home market, including smart speakers, video entertainment products, connected lighting, smart thermostats, and home monitoring / security products, is expected to have nearly 1.3 billion devices by 2022 , growing at a five-year CAGR of 20.8% . The fastest-growing category, with a five-year CAGR of 39.1% , nearly 100 million units in 2018 and 235 million units by 2022 , will be smart speakers like the Amazon Echo and Google Home .

" While dedicated smart speakers with built-in voice assistants will be prevalent throughout the forecast, we've already seen a significant shift in this market, " said Jitesh Ubrani , senior research analyst for mobile devices at IDC . " Many new types of devices both inside and outside the home are now Include built-in voice assistants. Not only do these devices help increase the number of touchpoints available to end users, but they also help each assistant grow by expanding reach and gaining insight into what, when and how users are handling various tasks. 

The privacy and security of smart home devices remains one of the key factors for adoption , as IDC 's recent consumer IoT has been. However, IDC remains optimistic about the outlook for the market, as the convenience of smart home devices often outweighs concerns.

Adam Wright , senior research analyst for IDC 's Consumer Internet of Things Program, said: " When considering the deployment of smart home devices, most consumers put security and privacy first. In addition to having adequate security solutions when bringing the device to market Beyond the scheme, providers must also respond to consumer concerns by properly educating them about privacy safeguards and raising their awareness of the benefits of sharing data that can ultimately lead to better devices over time and service. ”

Video entertainment products primarily consist of smart TVs and digital media adapters such as Google's Chromecast , Apple TV , Fire TV and Roku 's devices. As the heart of the living room, this category is poised for growth and is expected to reach 457.5 million units by 2022 , representing a five-year CAGR of 10.9% . For many brands and consumers, this category is expected to be the gateway to the smart home ecosystem, so IDC expects significant competition in both content and price in this category.

Home monitoring / security devices, from door / window sensors to door locks and IP cameras, are expected to account for 19.4% of the smart home market by the end of 2022 . While the category faces huge potential with a five-year growth rate of 27.3% , it still targets a limited segment of consumers, especially homeowners, as most products still don't offer much value to consumers living in apartments.

Under the situation of a hundred flowers contending, the smart home industry will inevitably usher in the first " golden age " , and the scene will be prosperous and chaotic. In the context of many giants forming a self-contained melee, it is difficult to see unified industry standards and agreements in the short term. In this embarrassing context, how to achieve a sharp increase in sales and the rapid occupation of the local market is a headache for many smart home integrators.

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