The huge potential market attracted massive market participants from related industries and entrepreneurs. However, behind the glory on the surface was a relatively terrible beginning of the sector. Giants represented by traditional home appliance companies, Internet companies and operators actively explored smart home market. Traditional home appliance companies make great use of their advantages in home appliance production and break in smart home market early with intelligent home appliance products, while Internet companies tried to offer clients products and services by establishing platforms that provide hardware products of their own brand and from third-party companies and related services for users.
iResearch holds the opinion that smart home sector has fallen into an awkward hot-inside-cold-outside situation although the market participants have tried to start their smart home businesses as early as possible. Consumers’ reaction towards smart home products was far duller than what the sector had expected, and their awareness and acceptance for smart home sector were still limited. Data from iResearch showed that the awarenesss of China’s smart home products was 42.3% in 2015, and the ratio of customers who purchased smart home products after they tried the products was only 16.1%. Thus, for smart home sector there is still a long way to go to develop the market and inspire consumer’s purchase desire.