According to Omdia, global smart home device sales will now amount to $101.1 billion in 2020, down from its previous forecast of $120.6 billion. Smart home device shipments are projected to reach 603.5 million units in 2020, down from the earlier forecast of 693.8 million. (See Informa Tech Launches Research Firm Omdia.)
Some might think the smart home device market, which comprises devices that have digital connectivity (including appliances, security systems and climate and lighting control), could benefit from national lockdown efforts that increasingly force people to work from home. It's certainly the case that usage of network and online services has rocketed. (See With COVID-19 comes the real dawn of the digital age.)
However, the smart home market might have to wait a while to benefit from this trend. Omdia pointed to depleted inventories in Asia following breaks in production, as well as delays in deliveries and potentially lower demand. Asia is forecast to see the biggest slowdown in 2020, with a downward revenue revision equating to $7.8 billion and 66.2 million fewer shipments than originally forecast. In the Americas, the smart home device revenue outlook has been reduced by 10.6%.
The spread of the novel coronavirus has placed an unprecedented strain on technology sectors in relation to supply and demand. Blake Kozak, principal analyst at Omdia, said the smart home market tends to be more resilient in the face of economic challenges compared to other, less-diversified industries. "Nevertheless, the smart home market is expected to undergo a correction during 2020, where growth will slow for most countries," he said.
Over the next two years, approximately 60% of service providers (both large and small) will adopt virtualization on a wide scale across their networks, according to the latest survey report from Ovum. Why are providers making these moves? Is there an easy way to start?
Learn how and why service providers are using virtualization to transform their networks. This webinar will look at how providers are leveraging virtualization to create more flexible and agile networks while also providing a better customer experience. Expert speakers from netElastic and Heavy Reading will address the industry drivers for network virtualization, the benefits that can be realized, the challenges to face and the results of virtualization being achieved by providers today.
Key topics will include:
Current network infrastructure and the move to virtualization
Benefits and challenges of network virtualization
How providers can get started
Service provider success stories: the decision to virtualize, the solution, and results