Which Smart Devices Are We Actually Buying? | Tech News
There’s a seemingly endless selection of smart home and wearable devices on the market nowadays. But one thing that differentiates a fad from a consistent trend is its effect on existing markets. So how big an impact are smart devices having on the “dumb” products these tech companies aim to disrupt?
Are more people buying digital assistant–enabled smart speakers and connected smart light bulbs in place of traditional ones? Are smartwatches making a dent in the analog watch market? A recent Adobe Digital Insights analysis aimed to figure out exactly that.
According to Adobe’s analysis of sales of more than 55 million products at over 4,500 retail sites, smart speakers have jumped from 28 percent of the home speaker market in 2016 to 58 percent in Q1 2018. The explosion of voice assistant–enabled devices like the Amazon Echo, Google Home, and others has definitively disrupted what was a static market by bringing Alexa, Google Assistant, Siri, and the rest into the home.
Other smart device segments haven’t had the same success. Smartwatches have gained steady market share over the past few years, from 9 percent in 2014 to 22 percent in Q1 2018, but they still represent less than a quarter of the watch market. And smart lightbulbs have seen only incremental sales growth, from 8 percent of the lighting market in 2014 to 11 percent in 2018.
None of the smart device markets are losing ground in our increasingly connected world, but even smart speakers have a long way to go before catching up with products like smart TVs: According to Adobe, 9 in 10 TVs sold in the United States in Q1 2018 were equipped with smart technology.