Insight: Smart Families Moving towards a New Era

Under the influence of multiple factors such as the rapid development of 5G, the Internet of Things, and the Internet home decoration market, the Chinese smart home market has shown a thriving development trend. According to data released by Zhiyan Consulting, the market size of China's smart home industry has maintained a continuous growth trend since 2017. In 2021, the market size of China's smart home industry was around 580 billion yuan, an increase of 12.75% compared to 2020. In 2022, the market size of China's smart home industry reached 651.5 billion yuan. The China Academy of Commerce predicts that the scale of China's smart home market will exceed 715.7 billion yuan in 2023.

With the opening of the 5G commercial era in China, traditional home appliance enterprises are gradually entering the future smart home market, including smart white batteries, smart security, lighting control, HVAC control, digital video, and various smart home terminal products. Data shows that in 2021, the total shipment of smart home products in China exceeded 450 million units. It is expected that the total shipment will increase to 800 million units by 2025, with a compound annual growth rate of 15.3%.

In terms of product distribution, home video devices (televisions, set-top boxes) and smart security products (cameras, door locks) account for a relatively high proportion, reaching 41.3% and 17.0% respectively; The proportion of intelligent white electricity (refrigerators, air conditioners, washing machines) is close to 20%, reaching 17.5%.