KITA News and Reports
  • Keywords of US Smart Home Market, Security & Compatibility
    2018-11-19

    Keywords of US Smart Home Market, Security & Compatibility

     

    -     KITA suggests compatible products with smart home security ·voice recognition home gateway ?

     

     It has been pointed out that Korean smart home business needs to focus on security and compatibility in order to enter into the United States, the world's largest market.

      

     According to a report titled ‘The US Smart Home Consumer Trends and Implications’ issued by the Institute for International Trade (President, Shin Seung-kwan) of the Korea International Trade Association on November 12th, the recent trends in the US Smart Home are Fast adaptation of Artificial Intelligence (AI) and voice recognition technology; high interest in security, inter-operability of products, price, rather and experience, etc.

     

     The United States’ smart home market has 42.1 percent of the market share, the largest portion in the world, and its penetration rate and purchase intention are high. In particular, the number of households that used smart home security applications such as indoor / outdoor home security cameras, smoke detection sensors, smart alarms and smart door locks has reached 18 million last year and is expected to show high growth rate of 18.5 percent every year until 2022.

     

     The report stressed, "75 percent of the US consumers prefer the products that are compatible with existing smart home devices. Especially, AI smart speakers have high penetration rare as one out of 5 American adult citizens has, AI smart speakers, which are mainly used as home gateways. Therefore, it is important to develop the products that are compatible with AI speakers."

     

      

     Park So-young, a senior researcher at the Institute for International Trade, said, In order to secure international compatibility of Korean smart home products and services, we need to pay close attention to global standardization trends.

     

     

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