Following tremendous growth of 279 percent in 2017, CTA forecasts that more than 43 million smart speakers will ship in 2018, accounting for roughly $3.8 billion in wholesale revenue. CTA’s latest consumer tracker study indicates that nearly one in four (24 percent) U.S. households owns a smart speaker. By the end of 2019, a majority of U.S. households will own a smart speaker, marking one of the fastest adoption rates for a consumer technology product. This translates into record interest for products ranging from door locks to dishwashers, and double digit growth for most smart home products in 2018.
CTA forecasts the connected home market will grow by more than 40 percent this year, reaching nearly $4.5 billion in wholesale revenue. At CES 2018, much of the smart home category focused on security and safety products. Leading shipment growth for smart security includes increases for smart doorbells (75 percent), smart door locks (60 percent) and smart light switches/dimmers (55 percent). Other connected home security devices will also experience strong growth, including IP/Wi-Fi cameras (36 percent) and home security systems (15 percent).
Meal preparation has never been easier, as CES exhibitors including Haier (GE Appliances), LG, Samsung and Whirlpool offer products that can be controlled via smart speakers. This includes functionality such as the ability to preheat the oven when your hands are full or starting the dishwasher from another room.
Robotic vacuum cleaners can now also be controlled by smart speakers. CES exhibitors including Ecovacs (Deebot), iRobot (Roomba), LG, and Samsung have new robotic vacuums that can be summoned with a simple voice command to clean up spills. Such capabilities will support continued consumer adoption with unit shipments for home robots forecast to increase by 18 percent this year.
For some consumers, the initial purchase of a smart speaker was led by the intrigue for controlling a favorite playlist by voice or ordering a gift without a laptop but now consumers are unlocking the full capabilities of their devices. Whether completing daily chores with smart appliances or monitoring family safety with smart cameras, devices are leading the way for creating truly connected homes.
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