Chinese demand for smart home upgrades is growing fast
Chinese article by 爱集微
English Editor 张未名
10-17 18:32

(JW Insights) Oct 17 -- Demand for smart home upgrades is growing more quickly among consumers in the Asia-Pacific region, including China, than in other parts of the world, according to a new report by market researchers GfK.

Consumer enthusiasm for smart home products remains high in the APAC region, even though demand slowed in the first quarter affecting the market for technology consumer goods, according to the report released on October 12, the opening day of the 2023 Shanghai International Consumer Electronics Show, Yicai Global reported.

Sales of smart home products in 11 major markets in the region reached $18.3 billion in the first four months of the year, the report noted.

China and India are far ahead, with an average of 3.8 smart home devices per household. Chinese people have 4.1 per household, the most in the world, compared with a global average of 3.5. In addition, one-third of Chinese respondents, representing 27 percent globally, said they have five or more such products.

Unlike other global tech shows that unveil cutting-edge future technologies, the Shanghai International Consumer Electronics Show displays products that are more relevant to the average consumer.

For example, iFlytek launched artificial intelligence office software covering translation and transcription at the show, while Shokz displayed an open-ear split-type Bluetooth headset, and Allwinner Technology demonstrated a platform processor for mid- to high-end tablets and interactive displays.

Home audio is another of the bright points in the consumer electronics market, according to GfK’s data. In the first half, the value of global home audio sales rose 5 percent from a year ago, with sales of wireless headphones jumping 30 percent, mainly thanks to younger consumers.

The global consumer electronics market may reach saturation point this year, but there are still opportunities for growth in specific areas, said GfK, especially innovative and high-end products.

Consumers are also paying more attention to health-related electronic products since the pandemic, with air purifiers drawing a lot of interest at the show, according to the Yicai Global report.

(Yuan XY/Gao J)

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