Control & Connectivity - China

China

China is projected to witness a significant increase in revenue within the Control & Connectivity market, with an estimated value of €4.2bn in 2024.
This growth is expected to continue at an annual growth rate (CAGR 2024-2028) of 12.21%, resulting in a projected market volume of €6.6bn by 2028.
Furthermore, within the Control & Connectivity market, in China is expected to see the number of active households reach 151.4m users by 2028.
This indicates a growing adoption of control and connectivity technologies among households in the country.
In terms of household penetration, China's current rate stands at 10.8% in 2024 and is projected to reach 31.0% by 2028.
This signifies an increasing number of households incorporating control and connectivity solutions into their daily lives.
When it comes to the average revenue per installed Smart_Home, in China is expected to witness an amount of €80.65.
This indicates the average revenue generated from each installed Smart_Home in the country.
In a global comparison, it is worth noting that 0 generates the highest revenue within the Control & Connectivity market, with an estimated value of 0 in 2024.
This showcases the significant market presence and revenue generation of the United States within this industry.
China is leading the way in the Control & Connectivity market, with its advanced technology and extensive network infrastructure.

Key regions: Norway, United Kingdom, Asia, Sweden, United States

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Analyst Opinion

The Control & Connectivity segment includes the essential equipment, that is part of an intelligent home network (hubs, switches, smart speakers, plugs). The segment is clearly dominated by smart speakers. With the arrival of Amazon’s Echo, the whole digital economy including the smart home market was disrupted. Competition followed and reduced Amazons market share, especially from Asia where Xiomi, Alibaba and Baidu are developing smart speaker systems. There is no doubt that smart speakers will foster growth in the market, since they are the number one entry-level product for consumers. However, we believe that not all use cases will include voice control in the future. Moreover, there will be more smart displays, such as Echo Show or Google Nest Hub.

Methodology

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 segment. 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.

Forecasts:

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 digital products and services 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 twice a year in case market dynamics change.