cxo voice
  • Home
  • News
  • Expert Opinion
  • Leaders Talk
No Result
View All Result
  • Home
  • News
  • Expert Opinion
  • Leaders Talk
No Result
View All Result
Leaders Talk and Latest Tech News | CXO VOICE
No Result
View All Result
Home News Business

Smart home devices market to decline by 2.6% in 2022

IANS by IANS
December 26, 2022
Reading Time: 2 mins read
smart home

Image Credit: Pixabay

Share on FacebookShare on Twitter

Global shipments of smart home devices are expected to fall 2.6% in 2022 to 874 million units, with smart speakers and video entertainment devices such as TV and streaming devices facing the brunt of the decline.

Worsening macroeconomic conditions have led to a reduction in the outlook for global smart home device shipments, according to the International Data Corporation’s (IDC) ‘Worldwide Quarterly Smart Home Device Tracker’.

“Shipments of smart home devices have been impacted significantly by ongoing supply chain disruptions,” said Adam Wright, senior research manager Smart Home, and Office Devices.

“Moreover, we’re witnessing downward pressure on demand in 2022 as inflation continues to squeeze consumers’ wallets. Looking ahead, we expect volatility will continue to inhibit the market’s growth in 2023 and beyond,” he mentioned.

Though the global market is forecast to return to growth in 2023, it will remain relatively low at 4.6%, with most of the growth coming from emerging markets and China.

“Though smart speakers arguably helped launch the smart home category, the shine of these products has largely worn off for consumers in developed markets such as the US and China with shipments expected to decline in the long run,” said Jitesh Ubrani, research manager for IDC’s Mobility and Consumer Device Trackers.

ADVERTISEMENT

Smart speakers will now rely on emerging markets and places like Europe where language and lack of services have been a barrier to adoption in the past,” Urban added.

Among the other form factors, home monitoring/security products such as cameras, doorbells, or door locks, as well as smart lighting and video entertainment products, will account for the largest share and experience the highest growth rates within the smart home market, the report mentioned.

(Only the headline and image of this article may have been edited by CXOvoice; the rest of the content is generated from a syndicated feed)

Also Read: Top Technology Trends to Watch in 2023

IANS

IANS

For any query, contact@cxovoice.com

Related Posts

SK hynix is not sure whether to apply for US Chips Act funding: CEO
Business

SK hynix is not sure whether to apply for US Chips Act funding: CEO

March 29, 2023
AI-driven B2B marketplace Fashinza raises $30 mn to enhance supply chain
Business

AI-driven B2B marketplace Fashinza raises $30 mn to enhance supply chain

March 28, 2023
Cybersecurity While Working from Home amid Coronavirus outbreak
Cyber Security

Hackers targeted Google, Microsoft products via zero-day exploitation in 2022: Report

March 22, 2023
Microsoft CBSE quention paper
Business

Microsoft to build its own mobile games store for iOs and Android

March 20, 2023
smart home security camera
News

Smart home security camera market grew by 44% in 2022

March 17, 2023
Samsung to invest $230 bn on five advanced chip plants
Business

Samsung to invest $230 bn to build mega chip cluster near Seoul

March 15, 2023
AI chatbots
Cyber Security

Avoid AI chatbots that don’t appear on the company’s website or app: warn researchers

March 14, 2023
MediaTek
News

MediaTek may soon launch an updated version of ‘Dimensity 9200’

March 13, 2023
Load More
ADVERTISEMENT

Expert Views

SaaS Rising: India is Ready for its Next IT Moment
Opinion

SaaS Rising: India is Ready for its Next IT Moment

January 31, 2023
Technology remains the main driver for insurance companies to scale and grow in 2023
News

Technology remains the main driver for insurance companies to scale and grow in 2023

January 10, 2023
Supply Chain Attacks – The Open Source Effect
Cyber Security

Supply Chain Attacks – The Open Source Effect

January 3, 2023
Technology Trends to Watch in 2023
Opinion

Top Technology Trends to Watch in 2023

December 21, 2022
Startups should embrace a down-round and restructure their firms: Flipkart CEO
Business

Startups should embrace a down-round and restructure their firms: Flipkart CEO

November 22, 2022

Latest Updates

IBM Cloud and Wasabi partner to allow enterprises to run applications across any environment

IBM Cloud and Wasabi partner to allow enterprises to run applications across any environment

by News Desk
3 hours ago

SK hynix is not sure whether to apply for US Chips Act funding: CEO

SK hynix is not sure whether to apply for US Chips Act funding: CEO

by IANS
23 hours ago

PwC India partners with actyv.ai to scale embedded finance in supply chain ecosystems

PwC India partners with actyv.ai to scale embedded finance in supply chain ecosystems

by News Desk
1 day ago

AI-driven B2B marketplace Fashinza raises $30 mn to enhance supply chain

AI-driven B2B marketplace Fashinza raises $30 mn to enhance supply chain

by IANS
2 days ago

SUN Mobility and Zomato collaborate to power 50K electric 2-wheelers for food delivery

SUN Mobility and Zomato collaborate to power 50K electric 2-wheelers for food delivery

by IANS
3 days ago

Will never share US user data with China, says TikTok CEO

TikTok CEO says, will never share US user data with China

by IANS
6 days ago

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Inerviews

Rising cyber attacks pose a serious threat to Indian SMBs, says Zakir Hussain
Cyber Security

Rising cyber attacks pose a serious threat to Indian SMBs, says Zakir Hussain

-
Axis Bank's Cloud-driven digital banking solutions
Banking

Axis Bank doubles down on cloud based digital banking solutions

-
digital-first strategy
Banking

Jana Small Finance Bank’s digital-first strategy enhances customer experience

-
email security interview
Cyber Security

What is email security? and its importance in securing enterprise networks

-

Entrepreneur

Samsung Electronics appoints its first female president

Inspiring Women Entrepreneurs in India (2022)

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

We bring business leaders' opinions and unique ideas on what’s happening in the market and its impact. Also, get the daily news, analysis, and insights.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

contact@cxovoice.com
  • Home
  • About
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

© 2023 CXO VOICE

No Result
View All Result
  • Home
  • News
  • Expert Opinion
  • Leaders Talk

© 2023 CXO VOICE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/