In 2022, Global Smart Home System Market will be Reach US$122 Billion By Jennifer Leung The coming of internet age promote the development of household appliance industry. The concept of smart home system has been deeply rooted among the people, which laying a good foundation for home automation product entering millions upon millions families. Now many appliances are equipped with intelligent technology and became main product in the market waiting for test by customers.
Transcript
In 2022, Global Smart Home System Market will be Reach US$122 Billion
By Jennifer Leung
The coming of internet age promote the development of household appliance industry. The concept of smart home system has been deeply rooted among the people, which laying a good foundation for home automation product entering millions upon millions families. Now many appliances are equipped with intelligent technology and became main product in the market waiting for test by customers.
According to The Analysis Report of China Smart Home Industry Development Prospects and The Investment Opportunity given by the Research Institute of Prospective Industry, in 2012, China smart home market scale was RMB¥102.22 billion, while it was RMB¥172.86 billion in 2013. In 2014, It was ¥228.34 billion in China, but in 2014, it increased to RMB¥300 billion. And some professionals predict that it will reach RMB¥381.3 billion in 2016 in China, a 27.1% increase compared to RMB¥2015, 481.7 billion in 2017, up 26.3% compared to 2016, and RMB¥600 billion in 2018, a year-on-year growth of 24.6%.
Furthermore, on 8th August 2016, The United Daily News of UAE reported that global smart home market scale will reach US$122.00 billion, predicated that14% annual increase rate from 2016 to 2022, released by a famous market research company recently. Home automation product cover lighting, security products, heating supplier, air conditioner, entertainment, medical attention, kitchen appliance and so on.
US$122.00 let quit a few industry insiders see the potential of future home automation market. Therefore, The CEO of UAE AXIOM company which is a telecommunication retailer, Mr. Fahd, said China will play an important role in the development of smart home market.
The top speed development of mobile internet provides a powerful supporting for the smart home system industry. As the core way of realizing everything connected, Commercial 5G will accelerate the growth of smart home system. So undoubtedly, it will have a good prospective market.
Capital Enterprises Came and Want to Seize Smart Home Market Share
In recent year, many traditional hardware enterprises, internet companies, and real estate enterprises are seizing smart home market. Google, Apple, Microsoft, Samsung, Huawei, Xiaomi and Meizu are developing smart home system, which have promote the development of this market.
Unfortunately, there are some inharmonious elements regarding the weak industry chain exist in the development of smart home market. The chain of smart home industry is divided into upstream components, middle stream products and downstream end products.
Downstream end product include household appliances, lightings, security products and smart single products; upstream components covers chips, PCB, and plastic; and middle stream include module and smart controller. There are seldom upstream components enterprise and middle stream enterprise and even if have, but their development are not so good
Affected by undevelopment of upstream and middle stream, smart home cost is higher than others. So in the future, upstream and middle stream development is important.
Conclusion
The development of smart home is bright but the development road is twists and turns. Many household appliance companies are going to seizing the smart home market, at the same time, it will also accelerate the quick growth of whole household appliance industry. In the future, only the smart home industry chain could success in the intensely competitive market.
