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 and 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.
iGATE RESEARCH report titled "China Smart Home Market, Number, Household Penetration and Key Company Profiles - Forecast to 2025" provides a comprehensive assessment of the fast-evolving, high-growth Chinese Smart Home Industry.
This 154 Page report with 49 Figures and 5 Tables has been analyzed from 8 viewpoints:
1. China Smart Home Market, Volume, Household Penetration and 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 and Households Penetration - By Application Areas (2014 - 2025)
5. China Smart Home Market Funding
6. China IoT / Smart Homes Market - Policies, Trends and Standards and 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
iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.
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.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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