Dollar sales for smart home devices purchased at retail increased 7% in 2020, softer than we had originally expected pre-pandemic, but still growing nevertheless. Security cameras continued to drive the highest dollar sales of any smart home segment, but smart doorbells drove more new dollar spend for the third year in a row.
Because of the pandemic, home improvement projects experienced a renaissance year – including smart lighting upgrades – the only smart home segment to perform better than expected in 2020.
Key trends discussed that impact retail sales trends include:
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