Smart Home - China
- China
- The Smart Home market in China is expected to experience significant growth in the coming years.
- According to projections, the revenue in this market is set to reach €29.7bn by 2024.
- It is further predicted that the market will continue to expand at an annual growth rate (CAGR 2024-2028) of 12.35%.
- As a result, the market volume is projected to reach €47.3bn by 2028.
- In terms of household adoption, the number of active households in China's Smart Home market is anticipated to reach [users_currentlayer_yearend] by 2028.
- This indicates a significant increase in household penetration, which is expected to rise from 22.0% in 2024 to 39.2% by 2028.
- Currently, the average revenue per installed Smart Home market in China stands at €281.40.
- This figure demonstrates the financial potential of the market.
- When compared globally, it is worth noting that United States generates the highest revenue in the Smart Home market.
- In 2024, the revenue generated United States is projected to be €35,610.0m.
- These figures illustrate the promising growth and potential of the Smart Home market in China.
- China's smart home market is experiencing rapid growth, driven by the increasing adoption of connected devices and the government's push for technological advancement.
Key regions: United States, United Kingdom, Germany, Europe, Norway
Methodology
Data coverage:
The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.Vue d’ensemble
- Revenue
- Smart Homes
- Demographics
- Global Comparison
- Methodology
- Key Market Indicators