Dublin, Dec. 30, 2021 (GLOBE NEWSWIRE) — The “China Smart Home Market, Number, Household Penetration (by Application Areas), Impact of COVID-19, Funding, Policies, Trends & Key Company Profiles – Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
China’s smart home market is predicted to reach US$ 48.2 Billion by the year 2027. This report provides a comprehensive assessment of the fast-evolving, high-growth industry.
The growth of the 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.
The advent of smartphones, tablets, and computers has enabled people to stay connected at all times; this in turn has increased the demand for smart home products in the market. In addition, telecom operators are enhancing their network management capabilities to provide strong and stable connectivity solutions to support the specific requirements of smart homes. 4G and 5G network coverage is expected to reach the whole population by 2025. It is anticipated that the China will be the largest 5G market by 2025.
Moreover, the favorable policies and the coming of Internet of Things laid a solid foundation for the smart home market in China. The initiatives such as National New-type Urbanization Plan, China’s 14th 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 2020, the urban population for China amounted to over 61.4%, 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. 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 home automation market has developed at a rapid rate in recent years, a trend which has been partially accelerated by COVID-19 and the fact that people have been forced to spend more time in their homes due to lockdown measures. The burden of household chores has increased during COVID-19, and smart appliances that help people save time will benefit. Further, accessibility to smart home devices has dramatically increased, due to the ongoing growth in penetration of broadband amongst Chinese households, as well as the continued rise in the number of people owning smartphones.
Key Topics Covered
1. Executive Summary
2. Impact of COVID-19 on China Smart Home Market
3. China Smart Home Market Analysis to 2027
4. China Smart Home Market Share Analysis to 2027
5. China Smart Home Market, Number of Active Households & Households Penetration – By Application Areas
5.1 China Smart Home – Control and Connectivity Market & Number of Active Households Analysis to 2027
5.2 China Smart Home – Comfort and Lighting Market & Number of Active Households Analysis to 2027
5.3 China Smart Home – Home Entertainment Market & Number of Active Households Analysis to 2027
5.4 China Smart Home – Smart Appliances Market & Number of Active Households Analysis to 2027
5.5 China Smart Home – Energy Management Market & Number of Active Households Analysis to 2027
5.6 China Smart Home – Security Market &…….