Global Smart Home Market to Hit $155 Billion by 2023
The global smart home market ended on an upbeat note in 2017 reaching $84 billion, up 16% from $72 billion in 2016 according to a report just released by Strategy Analytics. According to the report, “2018 Global Smart Home Market Forecast”, worldwide consumer spending on smart home devices, systems and services will total nearly $96 billion in 2018 and grow at 10% CAGR over the forecast period (2018 to 2023) to $155 billion. Adoption of smart speakers from Amazon and Google is boosting the market.