Table of Contents
Overview
-
- What you need to know
- Covered in this Report
Executive Summary
-
- The market
-
- Figure 1: Short, medium and long-term impact of COVID-19 on smart home, November 2020
-
- Figure 2: Estimated retail sales volume for smart home China, 2016-20
- Figure 3: China’s smart home market retail unit sales share, by product category, 2016-20
- Companies and brands
- Key players are chasing customers through their ecosystems
- Crossing board players
- Expertise by home appliance brands
- The consumer
- Smart home still lies in entertainment
-
- Figure 4: Purchase behaviour and interest in smart home, September 2020
- Association with life quality improvement
-
- Figure 5: Purchase motivation for smart home, September 2020
- Various preferences in controlling methods
-
- Figure 6: Control preference for smart home devices, September 2020
- Offline stores vital for consumer experience
-
- Figure 7: Experience marketing, September 2020
- Smartphone manufacturers lead in ecosystem
-
- Figure 8: Brand association, September 2020
- Consumers expect more towards smart home
-
- Figure 9: Attitudes towards smart home, September 2020
-
- Figure 10: Attitudes towards smart home, September 2020
- What we think
Issues and Insights
-
- Green energy, smarter sustainability, smarter home
- The facts
- The implications
- Cross-category collaborations
- The facts
- The implications
- Smarter home for the ageing society
- The facts
- The implications
The Market – What You Need to Know
-
- IoT drives opportunities for smart home
- Many players but no leader yet
- Subsectors instead of single entity
Market Size and Forecast
-
- Slowed growth rate due to COVID-19 and a lack of industry standard
-
- Figure 11: Estimated retail sales volume for smart home China, 2016-20
Market Factors
-
- Increasing mobile internet users drive smart device adoption
- Voice controlling gets mature
- Adoption intention differs by region
- IoT attracts more internet giants into competition
- Ecosystem and 5G upside
Market Segmentation
-
- Smart home platform and ecosystem have yet to resonate with consumers
-
- Figure 12: China’s smart home market retail unit sales share, by product category, 2016-20
Key Players – What You Need to Know
-
- Apple chasing smart home customers through AI assistants
- Xiaomi popularises smart home through IoT devices
- Traditional manufacturers riding on brand awareness
- Telecommunication and cable providers
Competitive Strategies
-
- Voice assistants and virtual assistants to connect cross-platform compatibility
- Measuring and tracking health data
- Real estate developer’s strategic alliance
Who’s Innovating?
-
- Health will be at the heart of the new smart home
-
- Figure 13: Amazfit HomeStudio from Huami, January 2020
- Samsung introduces conceptual devices for assisted living
-
- Figure 14: Yellow spherical Ballie robot from Samsung, July 2020
- Numi 2.0 intelligent toilet from KOHLER Konnect
-
- Figure 15: KOHLER Numi 2.0 smart toilet, January 2019
- UWB technology introduced by Xiaomi
-
- Figure 16: Xiaomi’s UWB technology, October 2020
- Haier unveils world’s first smart laundry room
-
- Figure 17: Haier’s smart laundry room at AWE 2019
The Consumer – What You Need to Know
-
- Consumers access entertainment via smart home
- Raising awareness of greener energy
- Consumers have just as much power as brands when it comes to future design of smart home
Ownership and Interest in Buying
-
- Promising growth by lifestyle pursuit
-
- Figure 18: Ownership and interest in buying smart home products, September 2020
- Rising ownership of smart home appliances
-
- Figure 19: Ownership of smart home products, August 2018 vs September 2020
- Family with child(ren) more engaged
-
- Figure 20: Ownership of smart home products, by living situations, September 2020
- Purchasing interest exists in all city tiers
-
- Figure 21: Interest in purchasing smart home products, by city tier, September 2020
- Lower the entry level to improve penetration
-
- Figure 22: Ownership of smart home products, by monthly household income, September 2020
Purchase Motivation
-
- Associating smart homes with quality of life
-
- Figure 23: Purchase motivation for smart home, September 2020
- Post-80s seek more fun from smart home
-
- Figure 24: Purchase motivation for smart home towards having more fun in life, by age, September 2020
- Tier one and tier two consumers show more environmental concerns
-
- Figure 25: Purchase motivation for smart home towards energy saving, by city tier, September 2020
- Attention towards practicality increases with age
-
- Figure 26: Purchase motivation for smart home, practical smart function, futuristic design, by age, September 2020
Control Preferences
-
- More than half prefer biometric technology in controlling smart home
-
- Figure 27: Control preference for smart home devices, September 2020
- Consumers have yet to develop a control preference understanding
-
- Figure 28: Control preference for smart home devices, by currently owned, September 2020
- Highlight design to product’s remote control
-
- Figure 29: Control preferences, by consumer purchase motivations, September 2020
- Brands can pay more attention on how to enhance user experiences for the post-70s
-
- Figure 30: Control preferences, no preference to control settings, by generation, September 2020
Consumer Touchpoints
-
- Offline stores are primarily where consumers experience smart home
-
- Figure 31: Types of touchpoints for smart home, September 2020
- Approach younger white collars in commercialised zone
-
- Figure 32: Having experience of smart home in office building and restaurants, by age, September 2020
- Premium hotel smart home most noticed by young consumers
-
- Figure 33: Having experience of smart home in premium hotels, by age, September 2020
- Generate family-based scenarios in offline retail experience
-
- Figure 34: Having experience of smart home in premium hotels and offline stores, by monthly household income and living situation, September 2020
Brand Influence
-
- Ecosystem vital in smart home
-
- Figure 35: Brand association when mentioned about smart home, September 2020
- Xiaomi most recognised by young consumers
-
- Figure 36: Associating Xiaomi when mentioned about smart home, by age, September 2020
- Even levels of playing field
-
- Figure 37: Brand association when mentioned about smart home, by owners of product types, September 2020
Attitudes towards Smart Home
-
- Conflict in consumers’ attitudes towards smart home
-
- Figure 38: Attitudes towards smart home, the current smart home devices can or cannot meet consumer needs, September 2020
-
- Figure 39: Attitudes towards smart home, the current smart home devices cannot meet consumer needs, by gender, city tier and age, September 2020
- Consumers hold a lot of autonomy in how their version of smart home will look
-
- Figure 40: Attitudes towards smart home, installations before or after house, September 2020
-
- Figure 41: Attitudes towards smart home, installations before or after house, by marital status, September 2020
- Higher-income consumers are less willing to bother with on and off button
-
- Figure 42: Attitudes towards smart home, smart home device design, by household income, September 2020
- Females show interest in design
-
- Figure 43: Attitudes towards smart home, smart home device external design, by gender, September 2020
Meet the Mintropolitans
-
- Mintropolitans want more than just fun and value
-
- Figure 44: Purchase motivation, by consumer classification, September 2020
- Proving more options for Mintropolitans that fit their lifestyle
-
- Figure 45: Attitudes towards smart home, by consumer classification, September 2020
Appendix – Methodology and Abbreviations
-
- Methodology
- Abbreviations
Back to top