In recent years, the word “smart home” was frequently quoted in various media, it’s becoming a wide-spreading concept. There is a famous saying: the ultimate goal of the development of science and technology is to serve the people and their lives. It is true that the smart home has now come into our own houses and daily life.

The smart home is based on the residential platform, using network communication technology, security technology, automatic control technology, audio, and video technology to integrate the facilities related to home life. There is a control terminal to control all the facilities, realizing the living environment of environmental protection and energy-saving.

Since 1990s when the concept of smart home was firstly proposed by Bill Gates, this spectacular industry has been booming.

At present, under the trend of increasing the overall consumption level, the smart home presents vigorous development under the support of the policy, artificial intelligence, and the Internet of Things technology.

Let’s do some math, the global smart home market volume is $35.7 billion in 2017, with an annual growth rate of 26.9% from 2018 to 2023, the expected 2023 will generate a total scale of $150.6 billion in this industry. 

In 2018, China’s smart home market of $6.532 billion ranked second in the world (following the United States). But in terms of market penetration, China is only 4.9%, presenting still a substantial potential market space.

According to the report released by IDC, from a global perspective, “safety and control” and “energy or lighting” are the preferred applications of the smart home. Among them, intelligent lighting, home security, smart home appliances, and smart video occupy a significant market share in the smart home category.

The scale of China’s intelligent lighting market increased from 1.9 billion yuan in 2005 to nearly 15 billion yuan in 2017, with an annual growth rate of about 25%. In the future, driven by smart home, the market scale of the intelligent lighting industry will accelerate to expand and exceed 27 billion yuan in 2020.

The market scale of China’s intelligent home security in 2018 is nearly 30 billion yuan. It is expected that in 2020, smart home security will create a hundred billion.

After the outbreak of novel coronavirus, the demand for smart home devices of consumers will be stronger. In the fields of home furnishing, catering, logistics, and so on, people hope that the power of intelligent equipment can replace artificial labor to reduce the risk of infection.

For example, the smart touch panel of GVS is a highly integrated control panel which can also connect to the elevator control system, hence you can reserve an elevator before you go out of your door, besides there are security functions can easily be integrated like access control, and camera . 

Meanwhile, in the exit system of the community, GVS video intercom can be used to realize safe access without touching the card reader.

According to relevant data, the growth rate of the smart home market is more than 30% every year, which is bound to attract more people. Experts predict that the global smart home market will grow substantially in the next two or three years. 

As the first country to enter the global smart home market, about 32% of American households are equipped with a smart home system, and the number of users is expected to reach 53.1% by 2022. 

In Austria, Germany, and Switzerland, it is generally believed that a smart home can save money and bring convenience. While in Portugal, Spain, Italy, and other southern European countries, the interest in the smart home is not as good as that of the northern neighbors.  

Of course, with the rapid development of the smart home industry, we should not ignore some problems existing in the current smart home industry like poor interoperability between products, inconsistent protocol standards etc. But GVS is definitely one of your best choices as they’ve been focusing on KNX for over 12 years, with a full line of KNX products and solutions, come and try GVS, make your home smart!  

Posted by Miley Dowling

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