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China Smart Homes Market is growing with double digit CAGR of 44.30 percent

China Smart Homes Market is growing with double digit CAGR of 44.30 percent

China Smart Homes Market will grow with double digit CAGR of 44.30 percent during the forecast period 2017-2024.
Renub Research report titled “China Smart Homes Market, Numbers, By (Home Automation, Home Entertainment, Ambient Assisted Living (AAL), Energy Management, Security) Company Analysis & Forecast” provides a comprehensive analysis of the current state of this market and likely future evolution over the next 6 years. This 98 page report with 30 Figures and 10 Tables studies the China home automation market from 7 view points.

Home automation or Smart homes began to rise in recognition in the early 2000s, due to the evolution in technologies. Smart homes unexpectedly became a more affordable option, and therefore a feasible technology for payers. Home networking, Domestic technologies, and other gadgets began to emerge on store shelves.

In the current scenario, smart homes are more about security and living greener. The idea of Smart homes has been getting a huge amount of recognition in current years. One of the best examples of Smart homes concept is Bill Gates Xanadu 2.0. Reports are to be believed that Bill Gates has a favourite old Maple tree which is being monitored 24/7 by computer without any human intrusion.

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Renub Research predicts that China Smart Homes Market will grow with double digit CAGR of 44.30 percent during the forecast period 2017-2024. Smart homes market in China has great reasons to rise as it has all emergent required factors like growing middle and upper class population, government support policy for IoT, high internet penetration rate, large number of internet users and hefty local manufactures which help to boost uses of smart home devices in lower and middle income segments.

The smart home control interface is user friendly. It also works on wall-mounted touch screen panel, iPad, iPhone, or a usual wall-mounted keypad. The smart-home system allows people to predetermine and calls up their preference scenes by touching one button.

 

      

 

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Interactivity and Connectivity are driving the way families manage their homes as well as livelihood. So, if someone wants to out due to social activities, business, and children’s school schedules, the new improved smart system offers cutting edge connectivity to the household, even when someone is far away from homes. At the same time, when the smart home is in use, it offers higher level of automation, enables better control, safety and more convenience compared to traditional home.

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Companies Performance in China Smart Homes Segment

E-Commerce giant Alibaba has teamed up with goods manufacturer Midea to co produce smart air conditioners. Apart from Alibaba, Midea has also teamed up with many other companies like smart phone manufacturer Xiaomi Inc to keep their feet in the world of Smarts homes market. Besides, these many other companies like Chuango Security Technology Corp, Heiman Co.ltd, Sichuan Changhong Electric Co.Ltd, Hisense Co.Ltd etc also flourishing into the Smart homes market. These players are playing a very crucial role into the development of China Smart Homes market.

The report studies all the 5 segments of China Smart Homes discussed below

Home Automation

“Home Automation” includes the essential equipment (connected and remote control devices) and services that form part of an intelligent home network. These include central control and communication units (Gateway), programmable control buttons (e.g. wall switches and adjustable dials), sensors and actuators (e.g. door and window sensors, shutters) as well as connected and remote controllable light sources (Smart Bulbs) or garage door controls. Revenues are also generated from services that support these hardware elements such as control apps and connectivity services.

Home Entertainment

Smart Home segment “Home Entertainment” is comprised of the sale of products and services for multi-room entertainment (e.g. sound systems) as well as connected remote controls.

Baidu’s iQiyi, is the most popular streaming service in the country. Nearly, around 70 percent of the Chinese users watching shows and movie on their smart phones and tablets. Netflix Inc. viewers consume their content at home on TVs.

Ambient Assisted Living

Smart Home segment “Ambient Assisted Living“ includes products and services for networked emergency alarms, accident detection (e.g. pressure mats), activity monitoring (by means of sensors) and comparable connected products that are aimed to support independent living for the elderly.

• Monitor and support every day activities of needy and elderly people,

• Provide continual assessment of health of disabled and elderly people

• Improve surveillance, management and control of home appliances.

Energy Management

“Energy Management” contains the sale of the products and services for the control and reduction, of energy use (e.g. socket inserts, automated heating control, and timers) as well as connected sensors (e.g. temperature, sunlight, and precipitation sensors).
A smart home is a residential dwelling, in some cases with a garden or an outdoor space, equipped with sensors and actuators to collect data and send controls according to the activities and expectations of the occupants/users.

Security

“Security” includes the sale of devices and services for networked access control and management. This area includes surveillance (e.g. security cameras and related data storage and transmission services, motion sensors, programmable and remote control door locks) as well as equipment for risk monitoring (connected smoke detectors and humidity sensors). Remote surveillance and emergency services from specialized security firms without smart home relation are not included.

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