GITNUX MARKETDATA REPORT 2024

Smart Device Industry Statistics

The smart device industry is expected to continue growing rapidly, with increasing penetration rates in households worldwide.

Highlights: Smart Device Industry Statistics

  • The global market of smart home devices was valued at $78.88 billion in 2020.
  • It's estimated that the global smart home market will reach $413.5 billion by 2027.
  • In 2020, 141.1 million smart home devices were shipped worldwide.
  • Approximately 83% of smart home device owners find these technologies to be more efficient for their daily tasks.
  • Roughly 36.2% of United States residents are projected to use a smart speaker in 2021.
  • There are currently more than 1 billion devices worldwide that offer voice assistant capabilities.
  • The worldwide revenue of wearables is projected to hit $81.5 billion in 2021.
  • Amazon Echo held an estimated 70% of the U.S. smart speaker market in 2020.
  • Smart thermostats are expected to account for 63% of the smart home market by 2025.
  • The wearable device market shipment volume reached 444.7 million units in 2020.
  • IoT device penetration has grown from 15% in 2016 to 64% in 2020.
  • There will be around 35.82 billion IoT devices installed worldwide by 2021.
  • The value of the AI market within the IoT sector is expected to exceed $27 billion by 2027.
  • The global smart lighting market size was valued at $8.3 billion in 2020.
  • By 2025, the global smart lock market size is projected to reach $4.4 billion.
  • There are around 271 million smart TV users in China, the highest globally.
  • The average number of connected devices per household in the U.S. is 10.
  • The combined market value of IoT Technology is expected surpass $6.2 Trillion by 2025

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The Latest Smart Device Industry Statistics Explained

The global market of smart home devices was valued at $78.88 billion in 2020.

The statistic indicates that the total value of the global market for smart home devices in the year 2020 was $78.88 billion. This figure represents the cumulative worth of various smart devices such as smart speakers, thermostats, lighting, security systems, and other internet-connected appliances designed to automate and enhance household functions. The substantial value highlights the growing trend of smart home technology adoption among consumers worldwide, driven by factors like convenience, energy efficiency, security, and the increasing prevalence of connected devices in everyday life. This market size suggests a significant demand for smart home products and services, signaling a promising industry outlook for manufacturers, developers, and other stakeholders in the smart home ecosystem.

It’s estimated that the global smart home market will reach $413.5 billion by 2027.

The statistic that the global smart home market is estimated to reach $413.5 billion by 2027 suggests a significant growth trajectory in the adoption of smart home technologies worldwide. This forecast indicates a robust market demand for interconnected devices and systems designed to enhance convenience, efficiency, and security within residential settings. Factors driving this growth may include advancements in technology, increasing consumer awareness and acceptance of smart home solutions, and the integration of Internet of Things (IoT) devices in everyday life. The projected market value signifies a lucrative opportunity for companies operating in the smart home industry and underscores the continued expansion and evolution of connected living spaces in the coming years.

In 2020, 141.1 million smart home devices were shipped worldwide.

The statistic “In 2020, 141.1 million smart home devices were shipped worldwide” indicates the significant global adoption and growth of smart home technology during that year. Smart home devices include products such as smart speakers, smart thermostats, smart light bulbs, and smart security cameras, which are connected to the internet and can be controlled remotely. The high number of shipments suggests a strong demand for these devices, driven by factors such as convenience, energy efficiency, and the increasing trend towards home automation. This data highlights the ongoing digital transformation of households around the world as consumers embrace the benefits of smart technology in enhancing their daily lives.

Approximately 83% of smart home device owners find these technologies to be more efficient for their daily tasks.

The statistic that approximately 83% of smart home device owners find these technologies to be more efficient for their daily tasks suggests that the majority of individuals who own smart home devices experience increased efficiency in their day-to-day activities. This high percentage indicates a strong perception among users that the integration of smart technologies such as smart thermostats, lighting, security systems, and voice-controlled assistants streamline and simplify various tasks within the home environment. The positive perception of efficiency may stem from the convenience, automation, and control features that smart home devices offer, allowing users to manage their homes more effectively and potentially saving time and effort. Overall, the statistic highlights the widespread belief among smart home device owners that these technologies enhance their daily routines and contribute to improved productivity and convenience within the home setting.

Roughly 36.2% of United States residents are projected to use a smart speaker in 2021.

The statistic stating that roughly 36.2% of United States residents are projected to use a smart speaker in 2021 represents the proportion of the population that is expected to own or regularly utilize this technology during the specified year. This statistic suggests a significant adoption rate of smart speakers among consumers in the United States, reflecting a growing trend towards integrating voice-activated devices into daily life. Factors contributing to this rise in usage may include the increasing functionality and convenience that smart speakers offer, as well as the ongoing advancements in artificial intelligence and smart home technology. Furthermore, this statistic can provide valuable insights for businesses and marketers looking to target audiences who are likely to engage with smart speaker technology.

There are currently more than 1 billion devices worldwide that offer voice assistant capabilities.

The statistic stating that there are currently more than 1 billion devices worldwide offering voice assistant capabilities indicates a significant growth and adoption of this technology. Voice assistants have become increasingly popular across various devices such as smartphones, smart speakers, and other smart home devices. This widespread integration of voice assistant technology highlights its effectiveness and convenience for users in performing tasks, conducting searches, and controlling devices using voice commands. The statistic reflects the increasing trend towards incorporating voice assistants into everyday technology, emphasizing the importance and impact of this technology on modern society.

The worldwide revenue of wearables is projected to hit $81.5 billion in 2021.

The statistic that the worldwide revenue of wearables is projected to reach $81.5 billion in 2021 represents the estimated total income generated from the sales of wearable technology devices, such as smartwatches, fitness trackers, and augmented reality glasses, on a global scale for the year 2021. This figure highlights the significant growth and adoption of wearable devices among consumers, driven by factors such as technological advancements, increasing health and fitness awareness, and the integration of wearable technology into various industries. The projection of $81.5 billion in revenue emphasizes the expanding market opportunities and potential economic impact associated with wearables in the current year.

Amazon Echo held an estimated 70% of the U.S. smart speaker market in 2020.

This statistic indicates that Amazon Echo devices dominated the U.S. smart speaker market in 2020, holding a substantial market share of 70%. This suggests that Amazon Echo was the preferred choice among consumers for smart speakers during that year, outperforming its competitors. The high market share of Amazon Echo showcases its strong brand presence, product reputation, and likely superior features compared to other smart speaker options available in the U.S. market in 2020. It also signals Amazon’s success in effectively targeting and meeting the demand of consumers seeking smart speaker technology during that period.

Smart thermostats are expected to account for 63% of the smart home market by 2025.

This statistic suggests that smart thermostats, which are devices that can be controlled remotely and adjust temperature settings based on occupancy and user preferences, are projected to significantly dominate the smart home market by 2025, capturing a substantial 63% market share. This growth is likely driven by increasing consumer interest in energy-efficient and convenient home automation technologies. Smart thermostats offer benefits such as energy savings, improved comfort, and the ability to integrate with other smart home devices. The forecast highlights the growing importance of smart home technologies and the potential for smart thermostats to become a central component in modern home automation systems.

The wearable device market shipment volume reached 444.7 million units in 2020.

The statistic indicates that the shipment volume of wearable devices in the market reached 444.7 million units in the year 2020. This signifies a substantial quantity of wearable devices, such as smartwatches, fitness trackers, and other connected gadgets, that were produced and delivered to consumers during that time period. The high volume of shipments suggests a growing demand for wearable technology among consumers for various purposes such as health tracking, communication, and lifestyle enhancements. The statistic also highlights the significant market presence and competition among companies within the wearable device industry striving to meet the needs and preferences of consumers.

IoT device penetration has grown from 15% in 2016 to 64% in 2020.

The statistic indicates the rapid growth of Internet of Things (IoT) device adoption over a four-year period, increasing from 15% in 2016 to 64% in 2020. This substantial increase highlights the widespread integration of IoT devices into various aspects of daily life, such as smart home devices, wearable technology, and industrial applications. The trend towards greater IoT device penetration suggests a growing reliance on connected technologies for convenience, efficiency, and automation. This significant growth rate underscores the increasing significance of IoT in modern society and the potential for continued expansion in the future.

There will be around 35.82 billion IoT devices installed worldwide by 2021.

The statistic that there will be around 35.82 billion Internet of Things (IoT) devices installed worldwide by 2021 reflects the rapid expansion and integration of connected devices across various industries and sectors. With the continued advancement and adoption of IoT technology, these devices enable interconnectivity and communication through the internet, allowing for data collection, analysis, and automation in diverse applications such as smart homes, healthcare, industrial processes, and transportation. The projected significant growth in IoT devices highlights the increasing reliance on connected technology to enhance efficiency, productivity, and convenience in our everyday lives and across various industries globally.

The value of the AI market within the IoT sector is expected to exceed $27 billion by 2027.

The statistic that the value of the artificial intelligence (AI) market within the Internet of Things (IoT) sector is anticipated to surpass $27 billion by 2027 suggests a significant growth trend in the synergistic relationship between AI and IoT technologies. This projection indicates a robust market demand for integrating AI capabilities into IoT devices and systems to enhance data processing, analytics, and decision-making processes. The increasing adoption of AI-powered IoT solutions across various industries such as healthcare, manufacturing, smart cities, and agriculture is driving this market expansion, as organizations seek to leverage advanced technologies to optimize operations, improve efficiency, and create innovative products and services.

The global smart lighting market size was valued at $8.3 billion in 2020.

The statistic indicates that the overall market for smart lighting technologies, which includes connected lighting systems that are equipped with sensors and intelligent controls for enhanced functionality and energy efficiency, was valued at $8.3 billion in the year 2020. This figure represents the total revenue generated by the sale of smart lighting products and services worldwide during that specific year. The market size serves as a key indicator of the adoption and growth of smart lighting solutions, showcasing a significant market opportunity for businesses operating in the smart lighting industry and highlighting the increasing demand for more advanced and energy-efficient lighting technologies globally.

By 2025, the global smart lock market size is projected to reach $4.4 billion.

The statistic “By 2025, the global smart lock market size is projected to reach $4.4 billion” represents a forecasted estimate of the total value of the smart lock market worldwide by the year 2025. This prediction suggests a significant growth in the adoption and sales of smart lock technology, which is expected to reach a market size of $4.4 billion. Smart locks are devices that provide convenience and security by allowing users to remotely control access to their homes or properties, typically through a smartphone app. The increasing demand for smart home technology, coupled with advancements in connectivity and security features, are likely driving the expected growth of the smart lock market as more consumers seek modern and convenient solutions for home access control.

There are around 271 million smart TV users in China, the highest globally.

The statistic stating that there are approximately 271 million smart TV users in China, the highest globally, indicates a significant uptake and widespread adoption of smart TV technology in the country. With a population of over 1.4 billion, this figure represents a substantial portion of the Chinese populace engaging with smart TV platforms for their entertainment needs. The high number of smart TV users in China suggests a strong market demand for smart TV devices and services, potentially driving further technological advancements and innovations in the industry within the region. Additionally, it highlights the importance and potential growth opportunities for businesses looking to tap into the Chinese smart TV market.

The average number of connected devices per household in the U.S. is 10.

This statistic indicates that, on average, there are 10 devices connected to the internet within each household in the United States. Connected devices may include smartphones, laptops, tablets, smart TVs, smart home devices, gaming consoles, and other internet-enabled gadgets. This data point reflects the increasing prevalence and reliance on technology within households, demonstrating the growing trend of multiple devices being used simultaneously for communication, entertainment, productivity, and various other purposes. The average number of connected devices per household being 10 underscores the importance of internet connectivity and digital devices in modern daily life in the U.S.

The combined market value of IoT Technology is expected surpass $6.2 Trillion by 2025

This statistic indicates that the total market value of Internet of Things (IoT) technology, which includes devices, software, and services that connect and communicate over the internet, is projected to exceed $6.2 trillion by the year 2025. This substantial growth reflects the increasing adoption and integration of IoT technology across various industries, such as healthcare, manufacturing, retail, and transportation, among others. The growth in the IoT market is driven by advancements in technology, such as artificial intelligence, cloud computing, and data analytics, enabling businesses to optimize operations, improve efficiency, and create new revenue opportunities. As IoT continues to revolutionize the way data is collected, analyzed, and utilized, its market value is expected to grow significantly in the coming years, reshaping industries and driving further innovation.

Conclusion

The statistics on the smart device industry clearly highlight its rapid growth and increasing importance in our daily lives. With the continuous innovation and advancement in technology, the smart device industry is poised for even further expansion in the future. It is evident that smart devices are here to stay and will continue to shape the way we live, work, and communicate.

References

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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