Analysts said global smart device shipments will reach 3 billion by 2023, compared with 2.4 billion in 2019. Half of these, and the number one category, will remain smartphones, or 1.5 billion, showing small but consistent growth (at the same time, PCs, laptops and tablets will decline).

The second largest category is smart headphones. This includes everything from true wireless earphones (TWS) to over-ear headphones. It is expected to ship 726 million units by 2023.

In the short term, Canalys expects personal audio shipments to reach 490 million units this year, up 32.1 percent from last year. Check out the chart below - the horizontal axis represents growth from 2019 to 2020, and the vertical axis represents long-term development from 2018 to 2023.

Smart speakers, a larger audio accessory, will be the second fastest growing category. Shipments rose 21.7%, with manufacturers expected to ship 150 million units this year.

By the end of the year, Apple's AirPod and Watch business is expected to surpass Mac and iPad revenue. However, Canalys pointed out that Apple will have to face challenges from other manufacturers.