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China is expected to be the largest smart home market in Asia before 2020

2017-07-14 Tag: China smart home market

China,smart,home market

 

The report released by a China Foresight Institute a few days ago indicates that the market size of China smart home reaches to 60.57 billion yuan in 2016 with the year-on-year growth rate of 50.15%. It is predicted that the smart home will come to an outbreak in the future years, and the market size of smart home will reach to 139.6 billion yuan till the year of 2018. Before the year of 2020, China is expected to be the largest smart home market in Asia.


The report pointed that the rapid permeation of smart home in China primarily benefits from the daily increased family income. According to the research results of Economist Intelligence Unit (EIU), the amount of Chinese family with the annual income breaking through 35 thousand dollars will exceed 40 million till the year of 2030.


China has owned perfect equipment and technological ecosystem that can accelerate the development of smart home industry. Tencent, Baidu and Alibaba and other local technological giants as well as Xiaomi and Haier who have been producing the products of smart home will become the main pushers of the industry. However, for the reason of license and censorship, it is difficult for the international technological companies to enter into the China smart home market at present.

 

(Source: JJGLE.COM)