The smart home market in China presents a massive opportunity, driven by its vast population of 1.3 billion people. According to recent research, there are over 100 million potential smart home users in the country. With an average annual spending of 1,000 yuan per household, this translates into a market worth 100 billion yuan. More importantly, data shows that consumers who are more aware and continuously engaged tend to spend even more than 1,000 yuan annually on smart home solutions.
Currently, the affluent class in China is growing rapidly. This group accounts for about 10% of the urban population and 3.5% of the total population. For this segment, the market for smart home systems is estimated at 14 million units. As their purchasing power increases, so does the demand for advanced and integrated smart home solutions.
The smart home market can be divided into three main segments based on consumer preferences and budget. In luxury residential projects, smart home renovation costs range from 30,000 to 1 million yuan, with the total cost of smart home systems typically around 700,000 yuan. These high-end systems are often branded with international names such as Prince Edward, Honeywell, ABB, Clipsal, Germany's Morton, and Singapore’s Nico. These brands are known for their premium pricing but also for offering comprehensive, stable, and compatible smart home systems.
For high-end residential properties, the smart home renovation cost usually ranges between 30,000 to 150,000 yuan, with the system itself costing around 100,000 yuan. Developers in this segment often prefer domestic brands like Haier, TCL, and WOSMART. These companies have established a relatively mature market presence and offer integrated smart home products that cater well to local needs.
In contrast, regular households rarely consider smart home systems. If they do, they often opt for second- or third-tier domestic brands, with prices generally under 500,000 yuan. However, the quality of these products tends to vary significantly, and it's rare to find a fully integrated smart home solution.
The market is currently in a transitional phase. Lan Zhongming, General Manager of Shenzhen Intelligent Port Technology Co., Ltd., told reporters that most smart home users today are still limited to individual high-end homeowners. Large-scale real estate developers have yet to widely adopt smart home systems. From an industry perspective, China’s smart home sector is moving from an incubation stage toward a growth phase.
An industry insider mentioned that smart home technology has been around for over a decade, but the industry is still fragmented. There are numerous manufacturers, many of whom produce incompatible products due to a lack of standardized protocols. Additionally, the smart home market involves multiple industries, creating technical barriers for integration. Currently, there is no unified national standard for smart home systems in China, which has led many small and medium-sized enterprises to develop products independently, based on their own interpretations of the market.
10mm magnetic, 10mm magnetic track light, 10mm track light, 10mm magnetic track system, 10mm track
JINGYING , https://www.jingyinglight.com