The smart home market is currently in its growth phase, with numerous manufacturers entering the space from different angles. This influx has led to market disorder and a lack of clear industry regulations, resulting in a wide range of product quality. Substandard devices are now available on the market, which negatively impacts the perception of smart homes and diminishes consumer confidence.
Big Boss Deer Smart Home is one of the key players in this evolving landscape. Driven by the Internet of Things (IoT) and mobile internet technologies, the smart home industry is accelerating rapidly. As more companies enter the market, competition is intensifying.
On October 13th, the Internet TV brand Kokusai announced a collaboration with Huawei to launch a smart TV that doesn't require a remote control. This move is seen as a signal that Huawei is expanding into the smart home sector. The Huawei Glory A55 eliminates the need for a traditional remote, instead using a smartphone connected via WiFi for control. This allows fast and seamless interaction between the phone and the TV through a wireless network.
E-commerce giant Alibaba Group is also making waves. Recently, it launched the Philips smart air purifier in China, the first smart device equipped with Alibaba Cloud Computing. This product can connect via 2G, 3G, 4G, or WiFi, enabling users to monitor and control it remotely. Alibaba and Royal Philips of the Netherlands have signed an IT infrastructure service agreement, with the Philips air purifier serving as their first joint smart IoT product. This partnership highlights the growing integration of cloud computing and big data in the smart home space, promoting healthier and smarter living in China.
Xiaomi, traditionally known for its smartphones, has expanded into the smart home market with four new hardware products: the Xiaomi Smart Camera, Smart Socket, Yeelight Smart Light, and Smart Remote Control Center. Recently, Xiaomi invested in iHealth and integrated its hardware and e-commerce platform with the company’s products. From launching the Xiaomi Box to planning the Xiaomi Smart Home Control Center, Xiaomi is clearly building a long-term strategy to dominate the smart home space.
The smart home industry is expected to reach a scale of 8 billion yuan. Currently, smart homes are becoming an industry trend, with more products reaching consumers. According to the Secretary of the Intelligent Decoration Professional Committee of the China Interior Decoration Association, the smart home industry has maintained a growth rate of 20% to 30% over the past two years.
With the real estate market slowing down, developers are seeking new opportunities. Smart homes, as a highlight of high-end decoration, are gaining popularity among them. Integrating smart home products during renovation enhances the living experience. Since smart homes often require connection to intelligent communities, developers are well-positioned to promote this trend. Most of the current market growth comes from bulk purchases by developers.
Additionally, the rise of many small enterprises has driven down prices, injected vitality into the market, and contributed to the industry's maturation. As technology continues to advance, smart home products are becoming more refined. Cross-industry collaborations have turned many conceptual products into reality, stabilizing previously unstable systems and paving the way for broader development.
According to reports, the Chinese smart home market is expected to grow at a rate of 29.17% by 2016, with the market size predicted to reach 8 billion yuan in 2017. While the industry moves from early stages to growth, there are plenty of entrepreneurial opportunities for those who can seize them.
Despite the positive outlook, there are still challenges to overcome. Although smart home technology has advanced significantly in recent years, many people remain unfamiliar with it. The lack of standardized technical specifications and industry alliances has created fragmentation, with different companies adopting varying standards. This makes it difficult for consumers to choose and limits the overall growth of the market.
Cost is another major issue. While smart TVs, driven by companies like LeTV and Xiaomi, offer good value, other smart home devices tend to be more expensive due to the integration of advanced technologies and sensors. These higher costs hinder widespread adoption.
In the long run, the smart home industry needs to focus on creating systems that meet consumer demands for safety, personalization, and smart living while reducing costs for both businesses and users. Addressing these challenges will be crucial for the future development of the smart home market.
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