The market for smart home devices within the Middle East, Türkiye, and Africa (META) region reached $12,71- billion in 2023, a 6% increase on the previous year’s $11,990billion.
That’s according to the latest insights from International Data Corporation (IDC) and its newly updated Worldwide Quarterly Smart Home Devices Tracker.
The region has witnessed an influx of vendors across various product categories over the last 18 months. This has spurred an increase in market activity, particularly in relation to partnerships between vendors and channel players.
“A wide range of smart home devices are being shipped to the region,” says Isaac Ngatia, a senior analyst at IDC. “Vendor-channel partnerships – whether with distributors, retailers, traders, utility companies, or even telcos – have helped to drive greater awareness of different products and brands.
“We are also seeing the introduction of products trials and various after-sales services, among other marketing activities, as a result of these partnerships. At the same time, the increasing ease of connectivity is improving the overall user experience and helping to drive uptake across the market.”
Smart TVs accounted for 61,7% of the smart home devices shipped to the region in 2023, with around 20,9-million smart TVs of various specs shipped throughout the year. Almost all televisions shipped to the region are now smart TVs, and LG Electronics, Samsung, and Hisense were the top three vendors in 2023.
Looking ahead, IDC expects to see ongoing growth in the shipment of smart home devices across the region, with the market’s value forecast to increase at a compound annual growth rate (CAGR) of 4,4% through 2028.
“Multiple factors will propel the growth of the smart home devices market over the coming years,” says Ngatia. “These include enhanced AI capabilities to enable seamless communication and integration between different home devices, the introduction of 5G connectivity across more countries within the META region, the integration of smart home devices into real estate developments across the region, and increasing user acceptance, particularly in relation to their focus on sustainability.”