Smart Home Technology Poised for Blockbuster Growth

Among the devices Google announced at its big hardware event on Tuesday was the Google Home Hub, a Google Assistant device that resembles Amazon’s Echo Show by adding a screen to create what is essentially a smart speaker on steroids. As its name suggests, the Google Home Hub is supposed to be at the center of the connected home with the ability to control smart home devices from more than a thousand brands. 

With smart speakers and smart TVs already seeing mainstream adoption, the fully connected smart home no longer seems like a futuristic dream. According to a recent forecast from IDC, the market for smart home devices is poised for strong growth over the next few years. As the following chart shows, all market segments except for video entertainment (which is already huge) are expected to at least double in size between 2018 and 2022.