From July 22nd to 23rd, the fifth Smart Home Asia Summit and Boutique Exhibition 2021, hosted by Taas Labs Tanshi Lab, was successfully concluded in Shanghai. At the invitation of the organizers, Mr. Liu Wenjun, Executive Director for Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), attended the event and delivered a keynote speech titled 'Insights into the Global and Chinese Smart Home Market Ecosystem and Development Trends'.
Mr. Liu Wenjun, Executive Director of Frost & Sullivan Greater China, delivered a keynote speech
Liu Wenjun mentioned that the global smart home market is entering a phase of hundreds of billions of US dollars in value. Before the global COVID-19 pandemic in 2020, it had been maintaining double-digit growth. The impact of the pandemic not only broke the continuity of market growth but also reshaped the market supply chain at the geopolitical level. Moreover, the rise of the Chinese market in the future has become an irresistible trend.
As the penetration of smart home solutions and related products in China deepens, the Chinese smart home market is becoming a major growth pole globally after the US market. Several trends emerging from the development of the Chinese market cannot be ignored, whether it is the latest dynamics on the demand side or supply side.
From the perspective of development stages, China's smart home industry has gradually evolved from the stage centered around single-item control to a preliminary stage of interconnection aimed at diversified scenarios and spatial intelligence. In the future, with the development of technologies such as artificial intelligence, the Internet of Things, and cloud computing, and the broadening of application fields, China's smart home industry is expected to further move towards a mature stage of interconnection, and even enter a comprehensive intelligent phase where it actively understands customer needs and spontaneously provides corresponding services.
With the Chinese smart home industry gradually entering the stage of full-house interconnection, traditional internet giants such as BAT, non-traditional connected enterprises like Xiaomi, and traditional home appliance companies have successively laid out their strategies in the smart home sector. Thanks to technological and financial advantages, large enterprises within the smart home industry are generally developing in a platform-based and ecological manner, thus leading to competition among smart home giants.
In contrast, small and medium-sized enterprises (SMEs) and some startups in the smart home industry tend to focus on tapping into value within specific smart home segments, deeply investing in intelligent technology to form differentiated competitive advantages. In the industrial chain, SMEs can seize the opportunity of intelligent manufacturing transformation, improve product quality and drive technological innovation, developing towards multi-functional integrated products; at the same time, SMEs cooperate with large giants, sharing platform resources and technology to achieve rapid growth for themselves.
"The overall smart home industry is highly competitive, but there are also opportunities for cooperation among companies. All types of enterprises have development prospects, and the overall landscape is not yet clear," he said.
Mr. Kuang Chao, Operation Officer of the Shanghai Branch of CSA Group, shared the topic of "Best Practices for Network Security in Smart Home Internet of Things".
Mr. Jiang Hong, Embedded Product Systems and Applications Director for the Semiconductor Business Unit of Texas Instruments China, delivered a wonderful presentation titled "TI's New Millimeter-Wave Sensor Technologies to Empower Home Automation".
Mr. Dong Yi, Founder and CEO of Yunqi, brought forward a keynote presentation titled "Smart Homes from the Perspective of Multi-modal Interaction".
Ms. Zhang Xiaofang, a senior IoT security compliance engineer at Xiaomi, brought us an engaging presentation on "Building Trust in Smart Homes".
