IDC: Smart Home Market Research 2020–2025

Tech In China
2 min readOct 17, 2021

--

This week, IDC reports that China’s smart home equipment market shipped about 100 million units in Q1'21, a year-on-year increase of 13.7%; the annual shipping volume is expected to be 230 million units, a year-on-year increase of 14.6%.

Within the next five years, China’s smart home equipment market shipments will continue to grow at a compound growth rate of 21.4%, and the market shipments of 2025 will be roughly 540 million units.

The promotion of the smart home solution in the consumer market will become one of the main drivers behind the market growth.

Looking back at the shipment data of Q4’20, it is clear that after nearly a year of slow recovery, China’s market environment has shown signs of improvement.

In Q4’20, shipments of the smart speaker market were close to 13.85 million units, a year-on-year increase of 5.9%. The sinking market layout and the effects of industry channel expansion have brought on a market shipment rebound.

The home security/monitoring market shipped 8.17 million units in the fourth quarter, an increase of 24.9% year-on-year, and sales were close to $600 million USD, an increase of 43.4% year-on-year.

Among them, the upgrade of smart cameras and smart door lock products in the market led to an increase in average prices. The home video entertainment market saw a slight year-on-year decline in shipments, but due to the upstream panel price increase, the average price of smart TVs rose further in the fourth quarter, driving the home video entertainment market sales to increase by 18.1% year-on-year.

In the fourth quarter of the smart home appliance market, both shipments and sales fell year-on-year. The need for a boost in demand of the smart home appliances market is the main factor leading to the decline of the overall home appliance market.

The shipments and sales of the smart small home appliances market continued to grow. Faced with the shortage of upstream supply and Covid-19, China’s smart home equipment market will ship 200 million units in 2020, a year-on-year decrease of 1.9%. In 2021, China’s smart home market will emerge from the haze and usher in a rebound. The annual shipment is expected to be close to 260 million units, a year-on-year increase of 26.7%.

Source: https://www.36kr.com/newsflashes/1443485408847748

--

--

Tech In China
Tech In China

Written by Tech In China

Stories about China’s tech giants, startups, funding, venture capital, trends, and industries of tomorrow.