IDC recently delivered a quarterly tracking report on China’s smart home equipment market, stating that China’s smart home equipment market shipments in the first half of 2021 are about 100 million units, a year-on-year increase of 13.7%. It is estimated that 230 million units will be a year-on-year increase of 14.6%.
Moreover, the report predicts that China’s smart home equipment market shipments will proceed to grow at a compound growth rate of 21.4% in the next five years, and market shipments will be close to 540 million units in 2025. Smart solutions for the whole house will be consumed. The promotion of the market will become one of the important driving forces for market growth.
In terms of products, IDC stated that, as an application scenario with high user acceptance in the whole house smart solution, the market shipments of smart lighting, security, and automation-related equipment will grow quickly in the next five years.
Furthermore, it is predicted that China’s smart lighting equipment market shipments will surpass 100 million units in 2025, and the home security monitoring equipment market shipments will be close to 120 million units.