In 2022, the size of the smart home market in China amounted to over 652 billion yuan. With the development of 5G infrastructure and a high penetration rate of mobile phones, many Chinese electronics and home appliance manufacturers have developed smart home systems. Notable companies include Haier, Xiaomi, and Huawei.
Smart technology has the potential to do much more than connect consumer electronics. For instance, smart heating systems and smart electricity meters could optimize energy consumption. By avoiding consumption peaks, a smart electrical meter can start household appliances when electricity is in low demand. Similarly, smart heating systems reduce heating when nobody is home or during the night. These are just two examples of how smart technology can not only help preserve precious resources but also contribute to reducing the utility costs of households.
Smart home market size in China from 2016 to 2022 with a forecast until 2023
(in billion yuan)
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Various sources (Shenzhen Electronic Chamber of Commerce). (March 8, 2023). Smart home market size in China from 2016 to 2022 with a forecast until 2023 (in billion yuan) [Graph]. In Statista. Retrieved September 19, 2024, from https://www.statista.com/statistics/895479/china-smart-home-market-size/
Various sources (Shenzhen Electronic Chamber of Commerce). "Smart home market size in China from 2016 to 2022 with a forecast until 2023 (in billion yuan)." Chart. March 8, 2023. Statista. Accessed September 19, 2024. https://www.statista.com/statistics/895479/china-smart-home-market-size/
Various sources (Shenzhen Electronic Chamber of Commerce). (2023). Smart home market size in China from 2016 to 2022 with a forecast until 2023 (in billion yuan). Statista. Statista Inc.. Accessed: September 19, 2024. https://www.statista.com/statistics/895479/china-smart-home-market-size/
Various sources (Shenzhen Electronic Chamber of Commerce). "Smart Home Market Size in China from 2016 to 2022 with a Forecast until 2023 (in Billion Yuan)." Statista, Statista Inc., 8 Mar 2023, https://www.statista.com/statistics/895479/china-smart-home-market-size/
Various sources (Shenzhen Electronic Chamber of Commerce), Smart home market size in China from 2016 to 2022 with a forecast until 2023 (in billion yuan) Statista, https://www.statista.com/statistics/895479/china-smart-home-market-size/ (last visited September 19, 2024)
Smart home market size in China from 2016 to 2022 with a forecast until 2023 (in billion yuan) [Graph], Various sources (Shenzhen Electronic Chamber of Commerce), March 8, 2023. [Online]. Available: https://www.statista.com/statistics/895479/china-smart-home-market-size/