In recent years, with the continuous empowerment of emerging technologies such as AI, big data, the Internet of Things, and cloud computing, the penetration rate of smart homes has been increasing rapidly, and the market size has been continuously expanding.

According to data from research institutions, the scale of China‘s smart home market can reach 715.71 billion yuan in 2023. The huge market size attracts many enterprises to enter, and industry competition intensifies.

With the continuous development and iteration of technologies such as artificial intelligence, 5G, and the Internet of Things, as well as the continuous increase in consumer acceptance of smart devices, the development of the smart home industry has entered a fast lane. According to IDC‘s prediction, with the global economic recovery, the shipment volume of smart home devices will moderately increase by 2.2% in 2023. It is expected that this growth will continue until 2027, when the number of equipment will reach 1.23 billion.

The promising smart home market has naturally attracted attention from various parties, and more and more players are actively positioning themselves here, trying to grab a piece of the pie. Among many players, both traditional home appliance companies actively layout and mobile phone manufacturers participate, and professional smart home brands also frequently emerge. Although players have set out in the field of smart homes, their development directions and routes are different.

On the one hand, consumers‘ habits towards smart homes are gradually being cultivated, and traditional home appliance giants can expand their smart home business to new increments. With the upgrading of related underlying technologies, the functionality and intelligence of smart home products are gradually improving, and the user experience has been greatly optimized compared to before. In addition, consumers have a higher pursuit of quality of life, and smart homes that can provide comfort, convenience, and improve their life experience have gradually captured the hearts of consumers.

With the continuous increase in consumer acceptance of smart homes, the demand for products in the smart home market will also increase. For home appliance companies facing the problem of slowing down the growth rate of traditional household appliance categories, leveraging smart homes not only expands new categories, but also caters to consumer demand and cultivates new growth points.

The biggest difference between smart homes and traditional homes lies in intelligence, and smart homes not only refer to hardware products such as smart appliances, but also connect various smart devices together through technologies such as the Internet of Things, enabling them to have functions such as centralized management and remote control.

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