In recent years, with the rapid development of emerging technologies such as artificial intelligence and the Internet of Things, smart homes have become an important means to improve the quality of family life and achieve environmental protection and energy conservation.
By integrating home life-related facilities, smart home systems can achieve centralized management, remote control, interconnection and other functions, bringing users a safer, more convenient and comfortable living experience.
The global smart home market is showing explosive growth.
As consumers’ acceptance of smart homes continues to increase, the penetration rate of smart home devices continues to rise.
Data shows that the number of households with smart home devices worldwide will reach 263 million in 2021, with a penetration rate of 12.31%; it is expected that by 2023, this number will further increase to 361 million households, with the penetration rate increasing to 16.38%.
At the same time, the global smart home market is also expanding rapidly.
From 2018 to 2021, the global smart home market will grow from US$53.43 billion to US$104.420 billion, with an average annual compound growth rate of 25.1%.
It is expected that the global smart home market will exceed the US$130 billion mark in 2023, reaching US$136.16 billion, and the market prospects are broad.
As one of the world’s largest consumer markets, although my country’s smart home industry started late, it is developing at an alarming rate.
In 2021, the domestic smart home market revenue will reach 129.7 billion yuan, a year-on-year increase of 25.45%; it is expected that by 2023, the market size will further expand to about 168.9 billion yuan.
Strong support from national policies has also created a good external environment for the development of the industry.
In recent years, the state and various ministries and commissions have issued a series of supporting policies, such as the “Opinions on Accelerating the Construction of a National Unified Market” and the “Action Plan to Promote the High-Quality Development of the Home Furnishing Industry” to vigorously promote the construction of a smart home standard system and promote the standardized and orderly development of the industry.
Against the backdrop of rising per capita income and deepening urbanization, my country’s huge consumer group will bring sustained growth momentum to the smart home market, and its future development potential cannot be underestimated.
Generally speaking, under the multiple favorable factors of technological progress, consumption upgrades and favorable policies, the smart home industry is ushering in a golden period of rapid development.
With the accelerated implementation of emerging technologies such as 5G and artificial intelligence, smart home product forms will continue to innovate and application scenarios will continue to expand, bringing people a more intelligent and personalized living experience.
In the next 3 to 5 years, under the global dual cycle pattern, the smart home industry is expected to maintain a high growth trend, the market scale will continue to expand, and it will become a new blue ocean leading the development of the consumer electronics field.
Smart homes not only change people’s lifestyles, but also bring huge business opportunities to related companies.
For China’s foreign trade companies, this is an excellent opportunity to promote China’s high-quality smart home products to the world.
We can take advantage of the growth trend of the global market and give full play to the advantages of China’s manufacturing industry, so that more Chinese smart home products can shine in the international market.
