According to the latest survey data released by foreign research firm Strategy AnalyTIcs, it is estimated that by 2023, the global smart home market will reach 155 billion US dollars.
Household statistics with “smart†systems worldwide (illustration: strategic analysis)
According to a report just released by Strategy AnalyTIcs, the global smart home market revenue in 2017 reached $84 billion, a 16% increase from 2016's $72 billion. According to the research report “Global Smart Home Market Forecast for 2018â€, the total spending on equipment, systems and services in the global smart home, including 2018, will be close to US$96 billion, and the compound annual growth rate will be in the next five years (2018-2023). For 10%, it will grow to $155 billion by 2023. Among them, North America will account for 41%, about 40 billion US dollars; followed by Asia and the United States 26 billion US dollars; Western Europe is 17 billion US dollars.
New products from major brand technology companies such as Amazon, Google (Nest), ADT and Samsung are driving smart home applications in North America. In Europe, Centrica Connected Homes' Hive and Deutsche Telekom's Magenta Home in the UK, eQ-3 in Germany and Enco'Toon in the Netherlands are stimulating market demand. In the Asia-Pacific region, China's Xiaomi, South Korea's LG U +, Japan's iTSCOM and Panasonic, and Australia's Origin and Telstra are also driving the rapid development of the smart home market.
“The smart home market will become more and more mature,†said Bill Ablondi, director of Strategic AnalyTIcs Smart Home Strategy Consulting Services. “Consumer awareness is rising, prices are falling, and technology is becoming easier to use. However, the smart home market is still highly fragmented, and many companies are competing for smart home consumers. Who will ultimately succeed is still unclear. ."
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