The Chinese smart home market is likely to show double digit growth rate (CAGR) during the period 2018 – 2024.
Smart home is a system that allows home owner to control and monitor different devices in home including the heating, lighting, security, and entertainment, automatically and sometimes remotely via the Internet.
Several major Chinese giants like Baidu, Xiaomi, Alibaba, Haier and many others have already entered the market for “smart home” products.
• In 2017, the revenue in the Comfort and Lighting segment amounts to just over US$ 650 Million.
• Energy Management application captured least share of the Smart Home active households with over 7% share in 2017.
iGATE RESEARCH report titled “China Smart Home Market, Volume, Household Penetration & Key Company Profiles – Forecast to 2024” provides a comprehensive assessment of the fast-evolving, high-growth Chinese Smart Home Industry.