China Smart Home Market Overview, 2028

China Smart Home Market Overview, 2028

China is a technology superpower and the most populated country in the world, so it should come as no surprise that the country has an incredible smart home industry. With more than 1.4 billion people living there, China has a massive smart home market. With the country's increasing urbanization and large consumer base, smart home technologies have the perfect environment to flourish. There is an increasing need for technology that improves convenience, security, and energy efficiency as more people move to cities and lead urban lifestyles. China's smart home sector has become a worldwide powerhouse due to its ability to tap into this enormous pool of demand. When it comes to creating artificial intelligence (AI) and Internet of Things (IoT) technologies, Chinese IT companies are among the global leaders in developing artificial intelligence (AI) and Internet of Things (IoT) technologies, which are integral to the smart home ecosystem. This home-grown innovation has enabled the creation of seamless, interconnected smart homes that offer unprecedented levels of convenience. Chinese urban lifestyles are characterized by rigorous schedules and extended work hours. Convenience has become more important as a result of this change in lifestyle, which has led to the introduction of smart home technologies that make daily tasks easier. Chinese homes are increasingly equipped with voice-activated virtual assistants, automated lighting, heating, and security systems, and smart appliances. The use of energy-efficient smart home technologies is a clear indication of China's dedication to sustainability. Eco-aware consumers are increasingly choosing energy management systems, LED lights, and smart thermostats. In addition, the integration of solar power with home energy storage devices is becoming more common, allowing homes to produce and store sustainable energy.

According to the research report ""China Smart Home Market Overview, 2028,"" published by Bonafide Research, the China Smart Home market was valued more than USD 23 Billion in 2022. Global manufacturing is centered in China. This ability to produce locally not only meets domestic needs but also lowers costs and promotes innovation by allowing the creation of products that are customized to local tastes. The continued urbanization trend in China is a key factor in the adoption of smart homes. The need for technology that improves urban living is rising as more people move from rural to urban settings. These technologies range from handy home automation to energy-efficient solutions. China has enormous global influence due to its technological advancements and economic might. Chinese-based businesses have the power to define future trends and influence the course of the global smart home market. The Chinese government has promoted the development of smart and sustainable cities as part of its urbanization push. In order to improve resource efficiency, lessen environmental effects, and improve the quality of urban living, this plan encourages the use of smart home technologies. Numerous Chinese towns have started implementing smart home and smart city initiatives. These government-funded initiatives emphasize smart system and device integration for improved quality of life, energy efficiency, and urban growth. The government works with home-grown tech firms and promotes alliances between these businesses and academic institutions. This partnership increases the market uptake of cutting-edge smart home technologies and promotes their development. The Chinese government has been actively investing in the development of smart grids. Smart grids are crucial for the integration of renewable energy sources and improving energy efficiency. This initiative aligns with the adoption of smart home technologies, as smart homes can interact with smart grids to optimize energy consumption.

The product segment of the market include security and access control, lighting control, entertainment system, HVAC control, smart speakers, smart home appliances, smart kitchen appliances, smart home healthcare systems, smart furniture, and others. Entertainment systems are growing at rapid pace in China smart home market. As China's economy expands, more households are going to have greater freedom to spend on leisure and amusement, including high-quality entertainment systems. There is an increasing appetite for digital content consumption, which includes streaming films, TV shows, gaming, and internet information. Smart entertainment systems provide easy access to various digital services. Chinese consumers are increasingly investing in home theatres, which frequently contain enormous high-definition or 4K smart TVs, high-quality sound systems, and smart projectors. These arrangements provide a cinema-like experience at home. Based on protocols market is segmented into wireless protocols, wired protocols, and hybrid protocols. Wireless protocols are expected to register highest growth rate in China smart home market. Wireless protocols are highly scalable, allowing homeowners to simply add more devices to their smart home networks. This scalability corresponds to the growing demand for whole smart home ecosystems. China is a major electronics manufacturing hub, and many smart home products are made there. As a result, a large range of affordable and accessible wireless smart home products are available. The ability to control smart home gadgets via mobile apps matches the tech-savvy consumer base in China, which has a high percentage of smartphone adoption.

Based on application market is divided into new construction and retrofit. New construction application is playing critical role in development of China smart home market and is dominating the market of China. New homeowners are frequently more interested in cutting-edge technologies and trends. Smart home elements are considered modern conveniences, which attract customers looking for up-to-date homes. Energy-efficient architecture and sustainability are frequently prioritised in new construction projects. Smart home technologies, such as smart thermostats, lighting systems, and appliances, can assist homeowners in managing their energy consumption, helping them to meet these sustainability goals. Smart house infrastructure, such as wiring and networking, can be simply incorporated into new construction projects. Retrofitting something into existing homes is more difficult and expensive. In terms of sales channel market include direct and indirect. Indirect channel is predicted to register highest market share in China smart home market during the forecast period owing to wide spread distribution network and availability of smart home product driving the growth of smart home market in China as well. The software and services segment of the market include, behavioral and proactive. Proactive channel is growing at rapid pace in China smart home market and is predicted to register highest CAGR as well.

Considered in this report:
• Geography: China
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• China Smart Home market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product:
• Security and Access Control
• Lighting Control
• Entertainment System
• HVAC Control
• Smart Speakers
• Smart Home Appliances
• Smart Kitchen Appliances
• Smart Home Healthcare Systems
• Smart Furniture
• Other Controls

By Protocols:
• Wireless Protocols
• Wired Protocols
• Hybrid Protocols

By Application:
• New Construction
• Retrofit

By Sales Channel:
• Direct
• Indirect

By Software & Services:
• Behavioral
• Proactive

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Smart Home industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.