The COVID-19 pandemic has led to people spending more time at home. And while that has led to investments in home offices and banana bread baking, it also gave people a reason to try new smart home technology.
According to figures released by research firm IDC today, the smart home market has survived “ongoing supply chain disruptions, unemployment and an uneven economic recovery,” leading to a growth of 10.3 percent in the third quarter of 2021 from the third quarter. quarter of 2020.
“The smart home market continues to outperform other consumer goods during the ongoing COVID-19 pandemic, albeit to varying degrees across regions,” senior research analyst Adam Wright said in a statement. “In general, consumers have shifted their spending priorities from other areas, such as vacations and dining out, to focus on adding more comforts, conveniences and entertainment to the home.”
Entertainment devices were the big winners. Smart TVs and streaming players sold the most units, representing 35.3 percent of smart home shipments during the quarter, according to the research firm. That category was followed by smart home security products (20.4 percent). Still, privacy concerns remain an obstacle to market growth.
On a global scale, demand has risen as a result of greater broadband access, “rising disposable incomes” and increased awareness of smart home products.
The US saw the most smart home shipments, with 9.5 percent quarter-over-quarter growth, the IDC said.
Jitesh Ubrani, IDC’s research manager for mobile device trackers, noted that the average retail price for smart devices rose “more than 3 percent.” He attributed the increase to new features and disruptions in the supply chain. For example, the average price of a smart TV has increased by nearly 7 percent as OLED becomes more popular, Ubrani said.
IDC’s report on smart homes comes the same week that the company predicted PC shipments will fall 3.4 percent during the holiday quarter and tablets by 8.6 percent. Another category of connected personal devices, wearables, saw 9.9 percent growth in Q3 2021, according to IDC.