The market for smart home electronics which operate through connection with the Internet is forecast to expand at a blistering pace from this year, growing by 134 percent per year over the next five years.
According to market research firm IHS on July 28, the annual growth rate of the world’s smart home electronics market is forecast to average at 134 percent over the next five years, with the global output of smart home electronics items likely to surge to 223 million units in 2020 from less than 1 million units in 2014.
This outlook is an estimate for the category of home electronics items, including washing machines, laundry dryers, dishwashers, refrigerators, and air-conditioners.
Including small home electronics items such as robot cleaners, rice cookers, coffee makers, air purifiers, and microwave ovens, the number of smart home electronics items would shoot up to 700 million units by 2020.
Against this backdrop, Samsung Electronics announced a plan to make all of its products compatible with Internet of Things by 2020. Samsung plans to expand the application of its Tizen operating system from the current TV toward most other home electronics items.
