European Smart Home Market to reach more than 203 million units in...

European Smart Home Market to reach more than 203 million units in next 3 years

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European Smart Home Market

The smart home market is expected to reach more than 203 million units in 2025 in Europe — a compound annual growth rate (CAGR) of 13.5% from 2021 to 2025.

In the second quarter of 2021 the smart home market in Europe grew 23.8% compared with the same period in 2020, according to research by International Data Corporation (IDC). The market surpassed 24 million units shipped to the region between April and June.

“This was the second quarter in a row in which the smart home market in Europe grew more than 20%, which is a sign of the recovery from the worst performance in the first half of 2020,” said Antonio Arantes, senior research analyst for smart home devices in Western Europe. “Amazon and Google regained the top two places in the market due to the good performance of the smart speaker and digital media adapter products.”

“In the second quarter of 2021, the total smart home device market grew by 29.1% in Central and Eastern Europe,” said Jan Prenosil, senior research analyst for smart home devices in Central and Eastern Europe (CEE). “The lighting product category recorded the largest growth in the quarter, and there were good results for the home monitoring and security category. But video entertainment is still in first place in terms of units in CEE.”

Video entertainment devices shipped 11.9 million units to Europe in the second quarter of 2021, accounting for 49.2% market share. Smart TVs had another stellar quarter, growing 18.7% year over year and reaching 70.4% of the video entertainment category.

Smart speakers grew 22.8% year over year, reaching more than 5.6 million units. Smart displays continue to see stronger growth than standard smart speakers.

Home monitoring/security, lighting, and thermostats grew 39.5% year over year. The three categories combined are expected to account for 65 million shipments in 2025.