Chinese Manufacturers Are Getting Smarter By Embracing Consumer Demands For Connected Home Appliances
China is seeing a rapid increase in IoT and smart home devices. Some of the country’s largest manufacturers of home appliances have started a division for smart home gadgets. However, they are facing stiff competition from Xiaomi, a company devoted to digital tech.
In most cases, smart home products don’t have a huge market since they tend to be more expensive and are a bit different to operate. Early adopters are usually those who are tech-savvy or have a higher income.
The market penetration in China is expected to reach around 25% by 2023. Hisense is a Chinese state-owned home appliance manufacturing company which works with both traditional products and smart devices. The company has a good market share globally.
Midea, a Hong Kong-listed company, is dedicated to developing connected appliances and is a huge hit.
They recently announced the development of an AI system that would connect all smart products within a household to one core platform.
Haier is yet another example of a company offering a platform for the users to monitor and manage their multiple home appliances ranging from TVs, refrigerator, and washing machines to a 3D fitting mirror, security system, and lightings. To deal with the competition in the market, companies are working out partnerships, such as the one between Haier with Baidu.
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