The Chinese smart home market was valued at just over US$ 7 Billion in 2018 and is likely to fivefold by the year 2025. Smart home is a system that allows home owner to control and monitor different devices in home including the heating, lighting, security, and entertainment, automatically and sometimes remotely via the Internet. In China, household penetration for smart home applications is estimated at around 5% in 2018.
The growth of smart home market is attributed to factors such as significantly growing IoT market, government support, increasing urbanization & growing awareness for smart home technology, and increasing importance of home monitoring from remote locations. With the increasing demand of smart home devices, security and privacy breach is also increasing. The issues pertaining to privacy and security breach are restraining the growth of the smart home market.
The favorable policies and the coming of Internet of Things laid solid foundation for smart home market in China. Furthermore, initiatives such as National New-type Urbanization Plan, China’s 12th five-year Development Plan, Smart Cities Projects and Made in China 2025 strategy, are likely to fuel the growth of China smart home market. In addition to country-wide initiatives, large corporations in China, from technology giants to white goods manufacturers, are placing big bets on the Chinese smart home market. Several major Chinese giants like Baidu, Xiaomi, Alibaba, Haier and many others have already entered the market for “smart home” products.
China Smart Home Market - By Application Areas
- Smart Appliances captured maximum share of the China smart home market in 2018.
- Control and Connectivity is the second largest application segment of the China smart home market capturing around 18% share in 2018.
- Security is the third leading application of smart home market, being followed by Home Entertainment segment.
- In 2018, the revenue in the Security segment amounts to just over US$ 1 Billion.
- Energy Management captured least share of the China smart home market.
China Smart Home Active Households - By Application Areas
- Smart Appliances captured highest share of the China Smart Home active households in 2018, being followed by Control and Connectivity segment.
- In China, the household penetration for Home Entertainment application is estimated at 1.3% in 2018.
- Energy Management application captured least share of the Smart Home active households in 2018.
This 154 Page report with 49 Figures and 5 Tables has been analyzed from 8 viewpoints:
1. China Smart Home Market, Volume, Household Penetration & Forecast (2014 - 2025)
2. China Smart Home Market Share Analysis - By Application Areas (2014 - 2025)
3. China Smart Home Active Households Share - By Application Areas (2014 - 2025)
4. China Smart Home Market, Number of Active Households & Households Penetration - By Application Areas (2014 - 2025)
5. China Smart Home Market Funding
6. China IoT / Smart Homes Market - Policies, Trends and Standards & Government Role
7. China Smart Home - Key Company Profiles
8. China Smart Home Market - Growth Drivers and Challenges
China Smart Home Market - Application Areas
1. Control and Connectivity (Home Automation)
2. Comfort and Lighting (Home Automation)
3. Home Entertainment
4. Smart Appliances
5. Energy Management
6. Security Application
China Smart Home - Key Company Profiles
1. Chuango Security Technology Corp
2. HEIMAN CO., LIMITED
3. Sichuan Changhong Electric Co Ltd
4. Hisense Co. Ltd
5. Xiaomi Inc
6. Alibaba Group
10. China Unicom
Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.