Smart Home - China

  • China
  • Revenue in the Smart Home market is projected to reach €30.0bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 12.80%, resulting in a projected market volume of €48.6bn by 2028.
  • Household penetration will be 22.0% in 2024 and is expected to hit 39.2% by 2028.
  • The average revenue per installed Smart Home currently is expected to amount to €284.30.
  • A global comparison reveals that most revenue is generated United States (€35,980.0m in 2024).
Comparación de regiones

Analyst Opinion

The Smart Home market in China has been experiencing significant growth and innovation in recent years.

Customer preferences:
Chinese consumers are increasingly valuing convenience, efficiency, and connectivity in their homes. They are drawn to smart home devices that offer seamless integration with their daily lives, allowing for remote control and automation of various household tasks. Additionally, there is a growing interest in energy-saving and eco-friendly solutions among consumers, driving the demand for smart home products that promote sustainability.

Trends in the market:
One prominent trend in the Chinese Smart Home market is the emphasis on artificial intelligence (AI) and machine learning capabilities in devices. This allows for more personalized and intelligent automation, catering to the individual needs and preferences of users. Moreover, the integration of voice assistants and smart speakers has gained popularity, offering hands-free control and enhanced user experience in smart homes across China.

Local special circumstances:
China's vast population and rapid urbanization have contributed to the booming Smart Home market in the country. With an increasing number of tech-savvy urban dwellers seeking modern solutions for their homes, the demand for smart home devices continues to rise. Additionally, the Chinese government's support for the development of smart cities and sustainable technologies further propels the growth of the Smart Home market in the region.

Underlying macroeconomic factors:
The strong economic growth in China has led to rising disposable incomes and urbanization, enabling more consumers to invest in smart home technologies. Furthermore, the competitive landscape of the tech industry in China drives innovation and affordability in smart home products, making them more accessible to a wider consumer base. Additionally, the increasing focus on digitalization and connectivity in various sectors of the Chinese economy creates a conducive environment for the expansion of the Smart Home market in the country.


Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.


In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

Visión general

  • Revenue
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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