Post-COVID Smart Home Market Expected to Rebound and Reach USD 88 Billion by 2025

Strategy Analytics predicts a rebound in the smart home market in 2021 with consumer spending expected to increase to USD 62 billion.

Research institution Strategy Analytics forecasts that the smart home market will regain momentum in 2021, with consumer spending anticipated to rise to USD 62 billion. The global smart home device market is projected to grow at a compound annual growth rate of 15 percent, reaching USD 88 billion by 2025.

Consumer surveys and observations of device companies such as Ring, Nest, and Philips Hue, along with interactive security companies like ADT, Comcast, and Vivint, indicate that the pandemic led to increased acquisition of certain smart home devices. Surveillance cameras and video doorbells, particularly those purchased by young families, are prime examples of this trend.