The global smart home market is expected to experience consecutive years of softening growth before an upward trajectory starts in 2023 according to researchers at Omdia.
The downward trend is attributed to a combination of factors including wage stagnation, increased unemployment, and a large decline in projected retail sales, especially in 2022.
Strong growth, on par with pre-pandemic levels, is expected to return starting in 2023, driven by increased demand in energy management solutions and the impending release of the Matter standard.
