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.”