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This forecast projects unit sales, installed base, households, and revenue for smart home services and smart home devices for the 2018–23 period. Forecasts are provided for major regional and national markets.


  • Smart appliances will be the fastest-growing category both in unit sales and in revenue between 2018 and 2023. Unit sales for this category will be a modest 139.4 million in 2023 but the high prices attached to fridges, ovens, washing machines, and other large appliances will lead to this category accounting for $78bn of revenue in 2023 out of a total of $116bn for all smart home devices.
  • Smart home service revenue (i.e., for services with recurring monthly fees) will be worth over $37bn by 2023, which equals 25% of the overall smart home market. Of this revenue, professional home security will make up the biggest portion, totaling 70% of all service revenue by the end of this forecast period. US and China form the biggest markets, making up 60% of all service revenue between them.

Features and Benefits

  • Evaluates the future growth of smart home households and device sales.
  • Assesses the potential for smart home services exploiting the growing smart home base.
  • Identities the key factors driving growth in each segment and which segments will grow quickest.

Key questions answered

  • Which countries and regions will see the most growth in the smart home space over the next five years?
  • Can home security service revenue grow fast enough to offset falling prices for smart security cameras?
  • How many smart devices will the average smart home have by 2023?

Table of contents


  • Introduction
  • Download 1: Smart Home Devices and Services Forecast: 2018–23

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