OFweek smart home network news With big data, artificial intelligence and other technologies by leaps and bounds, smart home plays an increasingly important role in life. Prospective Industry Research Institute recently released the "China's smart home equipment industry market forward-looking and investment strategy planning report" data show that in 2016, China's smart home market scale reached 60.57 billion yuan, an increase of 50.15%. It is expected that smart homes will usher in the next few years. By 2018, the smart home market will reach 139.6 billion yuan. By 2020, China is expected to become the largest smart home market in Asia.
By 2020, the overall scale of global smart homes will increase from the current 10 billion U.S. dollars to 50 billion U.S. dollars, and it is expected to surge to 400 billion U.S. dollars by 2030. By 2030, Asian market sales will exceed US$115 billion, accounting for more than 25% of the global market.
The report pointed out that the rapid penetration of smart homes in China is mainly due to increasing household income. According to the research of the Economist Intelligence Unit, by 2030, Chinese households whose annual income exceeds $35,000 will have more than 40 million households.
“In recent years, China has become one of the key drivers of global growth. First, the rapid growth of the country’s overall economy has brought about an increase in household income levels. Second, China has become the world’s largest Internet market. These two factors will make China become Asia’s One of the world's largest smart home markets."
China already has a complete ecosystem of equipment and technology that can accelerate the development of the smart home industry. Local technology giants such as Tencent, Baidu, and Alibaba, as well as domestic equipment makers such as Xiaomi and Haier, which already manufacture smart home products, will become the industry's main promoters. However, due to licenses and censorship, international technology companies have difficulty entering the Chinese smart home market.
The report pointed out that the four major changes in the trend of making smart home networking in Asia become a reality, at the same time, these four trends will accelerate the further expansion of the smart home market:
1. It is interconnected and intelligent. Advances in smartphone technology and processing capabilities have greatly increased the interconnectivity of home devices. The adoption of big data and artificial intelligence enables some applications to meet the needs and expectations of users, making home life increasingly intelligent.
2, is interoperability. With the increasing interoperability between products produced by different manufacturers, smart home applications are becoming increasingly popular among consumers. The rapid growth of industry alliances and the efforts made for standardized protocols and open platforms have led to the continuous improvement of the smart home ecosystem.
3, product availability and cost. Almost all kinds of home equipment are already automated products, and 80% of them are already intelligent and can be purchased in the market. As the cost of key technologies and components declines, the prices of smart home devices such as washing machines, refrigerators, and door locks will also be more affordable.
4, new profit model. Smart home applications are connecting to a wider network to connect all companies in the ecosystem and create new profit models. For example, a connected refrigerator with a liquid crystal display can bring revenue through online advertising.
The smart home market has provided valuable opportunities for all companies in the industry. However, to succeed, it must have several key factors at the same time, including: balancing local and global strategies, quickly shifting from product orientation to service orientation, and finding the right ones. Partners, integrated smart home integration platform. The first company to successfully launch a smart home integration platform will have a decisive first-mover advantage.
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