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After the acquisition of Nest by Google, the market heat of smart household swept to China, and related parties in the industrial chain, such as household appliance enterprises, consumer electronics, internet companies and telecom operators, have been engaged in self-research intelligent hardware, or layout ecological platform. Cross-border cooperation and open ecology have become the mainstream.
MARKET SIZE: The smart household market in China was 325.47 billion yuan in 2017, with intelligent home appliances accounting for 86.9 percent. It is expected that the market will maintain a CAGR of 21.4% in the next three years, and the market size will reach 581.93 billion yuan by 2020.
BUSINESS MODEL: The brand owners of hardware product make profit by selling hardware to earn price difference; technology providers can sell technology and services directly to hardware vendors, or monetize them through 2C internet services or 2B data services basing on user traffic and data.
INDUSTRIAL TRENDS: Industry giants tend to put forward strategic layout from the macro level, and cut into entry level products through strong capital and flow resources. Unicorns are more focused and can execute the whole process from design to sales. With the help of giants, unicorns can quickly bring their products to market. The product and technology cycle of smart household usually show a symmetrical change, that is, when the product market is hot, the technical field is relatively quiet, and when the technology attention is high, the product market tends to be uneventful. The front loading market will play an important role in the transition from geek to mass audience of smart household.