AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

The China Smart Home Market is Predicted to Reach Nearly US$ 46 Billion by the Year 2026 - ResearchAndMarkets.com

January 27, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Jan 27, 2020--

The “China Smart Home Market, Number, Household Penetration (by Application Areas), Funding, Policies, Trends & Key Company Profiles - Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

China offers a lucrative market opportunity for the Smart home industry. 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 8% in 2019.

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. By the end of 2011, half of China’s population was living in cities.

In 2019, urban population for China amounted to over 60%, creating enormous opportunity for smart home players. 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.

The growth of smart home market in China is attributed to factors such as significantly growing IoT market, government support, increasing urbanization & 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.

China Smart Home Market - By Application Areas

In terms of Smart Home applications, Smart Appliances captured maximum share of the China smart home market. Smart Appliances are equipped with different sensors and designed with connectivity features that can connect to handheld devices such as smartphones and tablets as well as other household appliances.

Control and Connectivity is the second largest application segment of the China smart home market, followed by Security applications at the third spot. Control and Connectivity is at the heart of smart home solutions, enabling everything from smart appliances to lighting, from temperature control to security. Home Entertainment market captured nearly 15% share of the market in 2019, while the Energy Management application captured least share of the China smart home market.

China Smart Home Active Households - By Application Areas

On the basis of Smart Home volume, Control and Connectivity segment captured highest share of the China Smart Home active households in 2019, being followed by Home Entertainment segment. The growth of home automation and rapid developments in wireless smart technology has led to an explosion in the range of smart home entertainment devices, thus driving the market for smart home. Comfort and Lighting and Smart Appliances segment accounted for third and fourth highest share of the China Smart Home active households respectively in 2019.

While, Security application captured least share of the Smart Home active households in 2019. With improvement in network infrastructure, broadband and internet penetration has increased, and consumers are increasingly opting for wireless and technologically advanced products to ensure more security for their families. As the trend towards home automation and smart homes grows, the market will witness significant growth.

Key Topics Covered:

1. Executive Summary

2. China Smart Home Market Analysis to 2026

2.1 China Smart Home Market and Forecast

2.2 China Smart Home - Household Penetration and Forecast

2.3 China Smart Home Number and Forecast

3. China Smart Home Market Share Analysis to 2026

3.1 China Smart Home Market Share - By Application Areas

3.2 China Smart Home Active Households Share - By Application Areas

4. China Smart Home Market, Number of Active Households & Households Penetration - By Application Areas

4.1 China Smart Home - Control and Connectivity Market & Number of Active Households Analysis to 2026

4.2 China Smart Home - Comfort and Lighting Market & Number of Active Households Analysis to 2026

4.3 China Smart Home - Home Entertainment Market & Number of Active Households Analysis to 2026

4.4 China Smart Home - Smart Appliances Market & Number of Active Households Analysis to 2026

4.5 China Smart Home - Energy Management Market & Number of Active Households Analysis to 2026

4.6 China Smart Home - Security Market & Number of Active Households Analysis to 2026

5. China Smart Home Market Funding

6. China Smart Home Market - Recent Development

6.1 China Smart City Pilot Projects and Financing

6.2 Smart City Financing in China

7. China IoT / Smart Homes Market - Policies, Trends and Standards & Government Role

7.1 China IoT / Smart Homes Policies

7.2 China IoT Trends and Standards

7.3 Government’s Pivotal Role in China IoT Market

8. China Smart Home - Key Company Profiles

8.1 Chuango Security Technology Corp

8.2 HEIMAN CO., LIMITED

8.3 Sichuan Changhong Electric Co Ltd

8.4 Hisense Co. Ltd

8.5 Xiaomi Inc

8.6 Alibaba Group

8.7 JD.com

8.8 Baidu

8.9 Haier

8.10 China Unicom

8.11 Samsung Electronics Co., Ltd.

8.12 LG Electronics Inc.

8.13 IKEA

9. China Smart Home Market - Driving Factors

9.1 Policies & Initiatives Driving Smart Homes

9.2 IoT Drives Smart Home Market

9.3 Cost Savings Due to The Adoption of Energy Conservation Systems

9.4 Increasing Urbanization & Growing Awareness for Smart Home Technology

9.5 Development of Connected Innovative Products

10. China Smart Home Market - Challenges

10.1 Security and Privacy Breach Concern

10.2 Cyber Security Concerns

For more information about this report visit https://www.researchandmarkets.com/r/xbgj3d

View source version on businesswire.com:https://www.businesswire.com/news/home/20200127005438/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T. Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD: CHINA ASIA PACIFIC

INDUSTRY KEYWORD: TECHNOLOGY ELECTRONIC DESIGN AUTOMATION CONSUMER ELECTRONICS

SOURCE: Research and Markets

Copyright Business Wire 2020.

PUB: 01/27/2020 10:10 AM/DISC: 01/27/2020 10:10 AM

http://www.businesswire.com/news/home/20200127005438/en