Smart Home Devices Industry Poised for Growth with 5G and AI
The smart home devices industry is set to capitalize on new opportunities for development, thanks to the widespread availability of superfast 5G coverage, artificial intelligence (AI), and the internet of things (IoT), according to industry experts.
A recent report from International Data Corp, a global market research company, revealed that smart home equipment shipments in China reached an impressive 260 million units last year, marking a year-on-year increase of over 17 percent. Experts predict that this number will soar to 540 million units by 2025, with total sales revenue exceeding 800 billion yuan ($111.1 billion).
Manufacturers of smart home devices are now focusing their efforts on leveraging key digital technologies to transform and upgrade their products. For instance, air conditioners with self-learning capabilities, which can automatically adjust room humidity and temperature based on users’ habits, have already become an integral part of people’s daily lives.
Jomoo Group, a prominent Chinese manufacturer of smart kitchen and bathroom products, has experienced impressive growth despite the challenges posed by the COVID-19 pandemic. Lin Xiaofa, the chairman of Jomoo Group, stated that the company’s total sales surpassed 50 billion yuan over the past three years, with an average annual growth rate of over 30 percent.
Jomoo Group has incorporated cutting-edge technologies like AI, robotics, cloud computing, and big data into the production lines of their smart toilets, faucets, bathrooms, wardrobes, and cabinets.
Recently, Jomoo signed an agreement with the local government in Quanzhou, Fujian province to establish their household robot R&D headquarters and “lighthouse factories,” where they will produce robotic shower machines and robot cleaners.
Lin emphasized that the company will further intensify its efforts to build more lighthouse factories and accelerate the intelligent and digital transformation of the manufacturing sector. Lighthouse factories are famous for being extremely efficient, smart, and environmentally friendly. They are at the forefront of intelligent manufacturing worldwide.
China currently leads the Global Lighthouse Network list, an initiative launched by the World Economic Forum and McKinsey in 2018 to showcase advanced manufacturing facilities.
Lin urged for greater efforts in bolstering technological innovation. Jomoo has already established 16 R&D centers worldwide, employing over 5,000 people dedicated to technological innovation. The company invests at least 10 percent of its annual revenue into technology research and development each year.
Haier Smart Home, a company owned by China’s biggest home appliances maker Haier Group, has developed an IoT ecosystem powered by 5G. This system offers personalized solutions that connect different home appliances.
The IoT ecosystem relies on Haier’s industrial internet platform COSMOPlat, which combines advanced machines, internet-connected sensors, and big data analysis to enhance productivity and reduce production costs.
Clients or users can actively participate in various stages of the product lifecycle, including design, research and development, production, manufacturing, sales, and marketing.
Haier Smart Home’s President, Li Huagang, expressed that in today’s 5G and IoT era, customers are seeking customized solutions that align with their unique lifestyles, rather than generic products.
Pan Xuefei, a senior analyst at IDC, highlighted the pivotal role that 5G and AIoT (artificial intelligence of things) will play in connecting different smart home devices across various scenarios and facilitating interaction between humans and machines.
Pan noted that advanced technologies like voice interaction and facial recognition have gradually found applications in smart speakers, security surveillance equipment, and other smart home devices, enhancing the user experience and expanding the functionality of these products.