Although the IoT promises convenience, simplicity and control, the truth is that in China, at this stage, new devices and innovations can be very puzzling and overwhelming for consumers and business owners. Exorbitant price and the lack of unified industrial standards have resulted in remaining stagnant in terms of centralised smart home technology. Alternatively, as the branch of smart home industry, the independently-developed smart home devices are more dynamic and active. By leveraging them, domestic lives could be re-shaped bit by bit with affordable consumption. However, the smart home devices market is also hampered due to lack of:
1. Technological advancements:
At present, the smart home products in market have been abundant and smart home technologies are also changing each day. However, after all, smart home is a new field, poor user experiences and unstable operations are the common weaknesses exist in the products in markets.
2. Understanding of people’s lifestyle:
The technicians have not conducted deep market researches. The developed products are poor in respect of practicability, and out of joint with market demand.
3. Awareness among consumers:
The smart home market is currently stuck in the 'chasm' of the technology adoption curve, in which it is struggling to surpass the early-adopter phase and move to the mass-market phase of adoption. Traditional manufacturers should adopt the new marketing mindsets to replace their tech-savvy mindsets.
Although the concept of smart home is still in the early stage of development in China, it promises to be a potential gold mine. According to the newest statistics collected by STATISTA, revenue in the Chinese smart home market amounts to USD 1.184 billion in 2016. What’s more, the revenue is expected to show an annual growth rate (CAGR 2016-2021) of 62.5% resulting in a market volume of USD 13.429 billion in 2021. On the other hand, household penetration in China is currently at 1.8% in 2016 and is expected to hit 12.6% in 2021.
Meanwhile, it’s also estimated within the industry that the revenue of smart home appliances in China will exceed RMB 1 trillion in total by 2020, among which smart hardware will reach RMB 600 billion. With no doubt, smart home appliances will become the next era in years to come.
The Chinese internet companies and home appliance manufacturers are shifting their focuses to the smart home market, which is expected to see a surge in business over the next two to three years. While the competition in the smart appliance industry is growing, the integration and acquisitions of large enterprises and capital operations are becoming more frequent, and more emphasis is put on the market research for excellent domestic producers of smart appliance industry, especially on the industrial development environment and in-depth study of the purchasers. As such, a large number of outstanding domestic brands of smart appliance industry have risen rapidly, becoming the leaders in the industry! In light of the market condition, the first Smart Home Appliance Summit is organised, devoting to bringing top-level professionals from leading brands together to illuminate the path of being a customer-oriented smart home appliance company.
Smart Home Appliance Summit Shanghai is the very first summit in China serving as a unique meeting point of professionals fully focused on 'Redefining S.M.A.R.T':
Strategy: innovative consumer research and segmentations, regional and national market forecasts for smart home devices, identify & understand potential customers to be in line with market trends & customer insights etc;
Manufacturing: smart appliance manufacturing model which is flexible enough to respond to global consumer demand and bring to life innovations, revolution in the development and application of smart home manufacturing intelligence etc;
Architecture: redefining architectures that hit users’ trigger-points such as smart home platform and ecosystem, industrial designs uniquely different from other 'smart' home appliances etc;
Reinforcement: redefining foundations to attract new smart home customers, secure smart home device adoption, create greater customer lifetime value for innovations and ultimately drive repeated purchases;
Technology: redefining emerging technologies that smart home devices are able to be contingent on the end user’s ability to adopt and marketing trends & strategies, resulting in added revenue.
By business nature
- Smart home appliance manufacturer
- Mobile manufacturer
- Electronic & electrical manufacturer
- Technology & wireless company
- Marketing & customer insight agency
- Product design company
- Home appliance distributor
- E-Commerce platform
- Smart home appliance solution provider
By business level
- Chief & leading designers
- Marketing director & vice president
- CEO, CMO, CTO, COO
- Business development director & vice president
- Customer relation & experiencing director & vice president
- Production director & vice president
- Leveraging customer data & insight to reveal customer needs for smart home appliance
- Smart home appliance designing & producing
- The distribution & marketing promotion for smart home appliance
- Smart home appliance after-sales service