The market for smart home devices grew 10.3 percent in the third quarter of 2021 to more than 221.8 million, IDC report said.
Despite supply chain disruptions, unemployment, and an uneven economic recovery, consumer demand remained high for smart home devices like smart TVs, smart speakers, and other devices.
The United States held the largest share of unit shipments in the third quarter and grew 9.5 percent quarter-over-quarter. China was the second-largest country by shipment volume with 24.7 percent of shipments but had negative growth of 5.2 percent compared to 2Q21. Western Europe and Latin America posted solid sequential growth of 17.9 percent and 15.0 percent, respectively.
“Not only are consumers buying more devices, but they’re also buying up the stack as average selling prices (ASPs) have increased upwards of 3 percent,” said Jitesh Ubrani, research manager for IDC’s Mobile Device Trackers. “The price increases are driven in part by the supply disruptions but new products and improved features across device types have also played a key role.”
ASPs for categories such as TVs increased by almost 7 percent as OLED displays grew in popularity. Similarly, smart displays, which typically cost more, are also outpacing traditional smart speakers, the report said.
Video entertainment devices like smart TVs and streaming players maintained the largest volume of shipments in the third quarter, accounting for 35.3 percent of all shipments.
Home monitoring/security devices like smart cameras and smart locks accounted for 20.4 percent of shipments and grew 13.5 percent.