I. Overview of Smart Homes in Vietnam
After a period of entering the Vietnamese market; The smart home industry has achieved significant results. Statists statistics until December 2018; currently has a turnover of about 55 million US dollars. Not just stop there; Experts predict that this item will bring about $ 410 million more from here in 2023; with an annual compound growth rate (CAGR) of 67%.
II. The potential smart home market in Vietnam
Smart houses, though, create a huge revenue; But in fact, smart home appliances are still not popular in people’s life. The average comes from every household that buys smart home equipment for just $ 67; There is no large scale investment and just stops at the level of experience. This is an extremely attractive market signal for units; individuals who want to step into this industry. The market penetration of smart home products has just begun, and the profit piece is really big to share.
The above figures are considered by the number of items such as connected digital devices; and indoor control via remote control; types of sensors and actuators involved in supporting smart home operations; Center types are used to connect the above devices; and finally, the hardware and software distributed by retailers to users.
III. Segments and suggestions Smart home products for each type of construction
Of the total number of smart home products sold; The most important contribution to revenue can be seen through the infographic, which is the smart parts (red); along with security equipment; Because these two categories represent the two most basic needs, daily activities and safety in production. As expected, in the future; These two categories will still occupy the highest market share of all smart home products.
Based on the current statistics as well as the predictions of future growth, Vietnam is ranked 45th by statists. In this list, outside of the United States, it is ranked first with a huge, huge revenue of 18 billion, China ranked second with 6.5 billion dollars. Currently, the smart home equipment market is diversified; with many different price segments. Most products are imported from Europe; with expensive prices like Fibaro, … However, there are still brands that are genuine imported; With very pleasant prices and perfectly suitable for small and medium-sized households such as Azura, Opiro