Size of China’s Before-decoration Home IoT Market
Target middle and high level consumers and achieve leapfrog development.
The before-decoration home IoT deployment needs more money, longer time compared to the after-decoration form. The confirmation of before-decoration home IoT sale revenue lags behind to some extent, and the development starts later than that of the after-decoration market. Since before-decoration home IoT deployment can lead to a highly consistent experience of home IoT systems, it is popular among middle and high-level consumers. From 2016 to 2019, China’s before-decoration home IoT market experienced a leapfrog development and the market size reached 2.58 billion yuan in 2019. The Covid-19 pandemic has some negative influence on the growth rate of the before-decoration market. However, since the consumers' acceptance of smart home and smart life has increased, the before-decoration home IoT market is expected to maintain a growth rate between 30% and 50% in the next three years and reach 7,73 billion yuan in 2020.