With Internet of Things (IoT) enabled devices continuing to grow in number, a new report from Strategy Analytics predicts the biggest driver for IoT growth through the 2020s will be the smart home market. The report, titled, “Connected World: Smart Home Is Key To Tomorrow’s Internet Of Things” shows that 10 billion additional IoT devices will be deployed in the next four years, adding to the worldwide 20 billion devices that will be deployed by the end of this year.
The report brings together forecasts and data from several Strategy Analytics device research areas that includes smartphones, IoT, automotive, and wearables to form a comprehensive view of the market. The largest sector currently is enterprise IoT with 52% of the connected/IoT installation base, but a significant shift is occurring in smart homes sector that is projected to continue through the 2020s—which will bring total IoT devices to about 50 billion.
Bill Ablondi, a director at Smart Home Strategies, talked about the upcoming changes in the smart home and IoT device markets in a press release, saying that, “The smart home is only at the beginning of its evolution, and as homes install increasing numbers of connected devices it is set to become one of the largest segments in the wider Internet of things over the coming decade.”
Other key findings within the report include smart home devices outgrowing cellphones in 2021 as a share of deployed connected/IoT devices, and that IoT’s annual growth will slow from 17% in 2017 to 9% by 2021.
Strategy Analytics offers other reports and advisory services beyond IoT, including information for automotive electronics, digital consumer, mobile, wireless, and technology companies with actionable market intelligence from around the world.
