Consumers are more carefully evaluating their needs for smart features and look forward to smart home products that are truly practical and convenient to use. Brands should not miss the opportunity to offer smart home scenarios for home personalisation, emotional management and sleep health to consumers.
Toby Xu, Analyst, China Insights
Collapse All
-
Executive summary
- Key issues covered in this Report
- The market
- Companies and brands
- The consumer
- Graph 1: smart home penetration, 2023
- Graph 2: smart home product ownership and purchase interest, 2023
- Graph 3: smart home product ownership, 2020-23
- Graph 4: interested smart home scenarios, 2023
- Graph 5: smart lock purchase factors , 2023
- Graph 6: willingness to pay a premium for smart features, 2023
- Graph 7: smart home selling points, 2023
- Graph 8: attitudes towards smart homes, 2023
- Issues and insights
- What we think
-
The market
- Market overview
- Market factors
- Graph 9: rate of urbanisation, 2018-23
- Graph 10: population aged over 65 and proportion, 2018-23
- Graph 11: floor space of commercial buildings sold nationwide, 2018-23
- Graph 12: real estate climate index, 2021-23
- Graph 13: annual savings rates of Chinese residents, 2016-23
- Graph 14: Consumer Price Index, 2019-23
- Graph 15: proportion of home appliance buyers who intend to trade up (ie buy more expensive brands or products), 2021-23
- Graph 16: proportion of consumers who spent more on their homes compared to the previous month, 2022-23
-
Companies and brands
- Key players’ performance
- Marketing activities
- New product trends
-
The consumer
- Smart home adoption
- Graph 17: smart home penetration, 2023
- Graph 18: smart home adoption, by generation, 2023
- Graph 19: smart home adoption, by city tier, 2023
- Smart home product ownership and purchase interest
- Graph 20: smart home product ownership, 2020-23
- Graph 21: smart home product ownership and purchase interest, 2023
- Graph 22: purchase interest in smart home products (a), 2023
- Graph 23: willingness to upgrade smart home products (b), 2023
- Interested smart home scenarios
- Graph 24: interested smart home scenarios, 2023
- Graph 25: interested smart home scenarios, by age, 2023
- Graph 26: interested smart home scenarios, by willingness to pay a premium for smart features, 2023
- Graph 27: interested smart home scenarios, by attitudes towards smart homes, 2023
- Smart lock purchase factors
- Graph 28: smart lock purchase factors , 2023
- Graph 29: smart lock purchase factors, by gender, 2023
- Graph 30: smart lock purchase factors, by ownership of smart locks, 2023
- Graph 31: smart lock purchase factors, by willingness to pay a premium for smart features, 2023
- Willingness to pay a premium for smart features
- Graph 32: willingness to pay a premium for smart features, 2023
- Graph 33: consumers who are willing to pay a premium of more than 30% for smart home products, by family structure, 2023
- Graph 34: willingness to pay a premium for smart curtains, by ownership of smart curtains, 2023
- Graph 35: willingness to pay a premium for smart features, by age, 2023
- Smart home selling points
- Graph 36: smart home selling points, 2023
- Graph 37: smart home selling points, by age, 2023
- Graph 38: smart home selling points, by monthly personal income , 2023
- Graph 39: smart home selling points, by age of children, 2023
- Attitudes towards smart home
- Graph 40: attitudes towards smart homes, 2023
- Graph 41: attitudes towards smart homes, 2023
- Graph 42: attitudes towards smart homes, 2023
-
Issues and insights
- Simplifying smart home features can go a long way
- Consumers want a happy home and personalised spaces
- Focus on opportunities in smart scenarios brought by emotional/sleep health demands
- Graph 43: health concerns in daily home life, by age, 2024
-
Appendix – methodology and abbreviations
Why Choose Mintel?
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
Access high-quality market research with every purchase of Mintel’s consumer reports. Here’s what else is included in your report purchase:
- Multiple Report Formats: Mintel’s reports are available in PDF and PPT formats, and are delivered straight to your inbox, so you can easily share Mintel’s market intelligence.
- Access to Mintel’s Clients Portal: After your purchase is completed, you’ll receive an invitation to join Mintel’s Clients Portal, providing instant access to supplementary insights from Mintel’s industry experts.
- Interactive Databook: Mintel’s bespoke consumer data is presented as an interactive website, so you can deep dive into your chosen topic, explore demographics and download specific statistics.
- Custom Presentation Tool: Easily incorporate selected research data and analysis into a tailor-made presentation to win over clients and stakeholders.
£ 3,695 (Excl.Tax)
-
Download today with instant access
Pay via credit card or invoice (net 30 payment terms)
-
Multiple formats provided
We send a PDF, Powerpoint and Excel Databook straight to your inbox. An interactive version of the report is also available on our online platform
-
Interactive databook included
Focus on the data that matters most to you with a customisable databook avaliable on our platform
-
Save up to 20% when you purchase multiple reports
Discount automatically applied in basket
Next Starts Here
Whatever your business needs, we have the solution. From market intelligence reports to customised growth strategies.
Learn moreTrusted by global industry leaders
Mintel is really good for getting a handle on a particular category quickly. If we are working on a new business pitch in an area we don’t have much experience in, it’s a brilliant way to get up to speed with what’s going on, what’s changing and what the key trends are in any category.
It’s very rare now that anyone will plough through a 200-page report – that’s why the summaries are really useful. We know they are backed up by a lot of detail, so if you need to go into something in more depth you know the information will be all there for you.
Pauline Robson, Managing Partner, Mediacom
We use Mintel Reports, mostly for financial services and ecommerce markets, plus a few retail and technology ones.
As a leading payments provider, we value additional insights into consumer behaviour, opinions and trends that are shaping the many different markets we operate in. Mintel is a very good and very quick way for us to obtain those insights.
We use Mintel to get a view on where a particular market is going, which can support us in product development and help us identify opportunities or indeed risks, it is a very useful barometer of a market’s potential.
Andrew Neeson, Market Intelligence Manager, VocaLink
When I’m investigating specific sectors I tend to use Mintel reports for their forecasting, which I’ve always found to be very accurate.
They also offer really broad and deep coverage in their reports. They are very, very detailed. For example, we were able to gain insight across a wide range of business areas from just one report, proving that Mintel is excellent value for money.
So overall, it’s the level of detail and the quality of forecasting that really stand out for me.
Rebecca Green, Market Insight Manager, Wincanton
We’ve found it so useful working more closely with Mintel. They helped support our recent flagship event for our top suppliers by providing a really unique viewpoint on the future of online retailing.
Nick Carroll from their Retail Team was also an excellent panelist, sharing useful and actionable consumer insights. We definitely look forward to working with Mintel again on future projects.
Zac Steele, E-Commerce Trading Development Manager, Waitrose & Partners
There is no question that Mintel is the go-to resource for the best quality market research, but I did not think it was an affordable option for Abacus Marketing to consider. As a small marketing agency, we only work with a few new clients each year.
However, we have a very high-end consultative approach to our work, so we really do need a partner like Mintel to provide the big agency experience we are always aiming to deliver. Our clients come from an incredibly diverse range of industry sectors, so we obviously need access to market research reports from a very wide spectrum of marketplaces – and that is precisely what we got.
Stephen Taylor-Brown, Managing Director, Abacus
Next Starts Here
Whatever your business needs, we have the solution. From market intelligence reports to customised growth strategies.
Learn more
