Over 854 million smart home devices are expected to be sold worldwide in 2020, according to forecasts by IDC, a total that shows year-over-year growth of 4.1%. Video entertainment (smart TVs, digital media adapters) take up 40% of market shares, outnumbering home monitoring and security devices as well as smart speakers.
Over 353.9 million video entertainment related products were sold this year, from TVs to multimedia boxes and adapters.
For the category of home security solutions, comprising surveillance cameras, connected doorbells and door locks, 166.3 million devices sold over the same time period.
Meanwhile, roughly 133.7 million smart speakers will be sold worldwide this year.
IDC also forecasts that the total number of devices sold in the smart home sector could surpass 1.4 billion by 2024, with a compound annual growth rate of 14%.