Image: The Global Smart Home Market Will Hit $157bn by 2023

Source: Strategy Analytics

Related news item: Global Smart Home market to surpass $100 billion in 2019 (September 25th, 2019)

Strategy Analytics projects that consumer spending on smart home related hardware, services and installation fees will reach $103 billion in 2019 and grow to $157 billion by 2023. The company predicts that spending on devices will account for 54% of the total in 2019.