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Growth of Global Smart Home Market

Growth of Global Smart Home Market


From smart speakers, smart TVs, smart door locks, to sweeping robots, "smart" has begun to fully enter our lives. According to market research agency CSHIA, the global smart home market will grow to US$157 billion by 2023. As a major manufacturing country, China has three major industries including home appliances, home furnishings and the Internet complementing each other, forming a complete smart home industry chain. From the perspective of the competitive landscape, the current smart home market has formed a competitive echelon: According to the data of qichamao system, until April 2021, there are 38,020 smart home equipment companies registered for industry and commerce in China, and there are 26 investments and financing events. Since then, the investment and financing amount has reached RMB 2.599 billion.

Smart home equipment including smart sanitary ware is becoming more and more popular, and consumers have strong demand for smart appliances such as smart home appliances, smart speakers, and smart door locks, smart LED mirror ,smart LED mirror cabinet ,smart toilet ,which has promoted the booming development of the market. According to media reports, the growth rate of China's smart home industry reached 25% in the first half of this year, becoming the fastest growing period in the industry's history. The sales of smart bathroom cabinets and smart shower products are the most popular among consumers. Data shows that in the first half of this year, the domestic smart home industry sales revenue exceeded 160 billion yuan for the first time, an increase of 25% year-on-year, and the number of products has expanded from the original 20 categories to 30 categories. In addition, with the expansion of the smart home market, the post-90s generation has become a segment with the fastest growth in demand.

What smart compliance companies need to do is to improve the user experience: “What we think about is how to optimize the user experience in different scenarios. This requires understanding the user’s usage scenarios and combining AI algorithm learning to help users build comfortable and intelligent systems most efficiently. Living space."

The transformation of smart home products from "user control" to non-influence has become the inevitable evolutionary path for smart homes. The idealized smart home is continuous progress, to be non-influenced and exist like air. Smart homes are always ready to serve users, and as the service deepens, the more appropriate the understanding of user needs, the more insensitive and adaptable solutions. Here is CBM Industry.

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