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Global consumer smart home spending will exceed the $100 billion mark this year

2021-08-04

According to a research report released by Strategy Analytics, a market research organization, after being negatively affected by the new crown epidemic in 2020, global consumer spending on smart home solutions will increase by 44% to US$123 billion in 2021.

According to Strategy Analytics, global consumer spending on smart home products and services is expected to exceed the $100 billion mark in 2021. Consumers who have postponed the installation are re-finishing their purchase plans, and 30 million new households will purchase smart systems in 2021.

Strategy Analytics predicts that the smart home market will continue to grow to US$173 billion by 2025. By then, nearly 20% of the world’s households will have at least one smart home product in use, compared to about 15% at the end of 2021.

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