We continue to exhibit (online) at the Smart China Expo, where some 500,000 people come to explore what smart technologies can do to improve people’s livelihood. Join us to showcase our latest and the greatest innovations.
The Fourth Industrial Revolution or Industry 4.0, is the ongoing transformation of traditional manufacturing and industrial practises combined with the latest smart technology. This primarily focuses on the use of large-scale machine to machine communication (M2M) and Internet of Things (IoT) deployments to provide increased automation, improved communication and self-monitoring, as well as smart machines that can analyze and diagnose issues without the need for human intervention.
Reports have shown that in the US alone:
- Revenue in the Smart Home market is projected to reach US$24,972m in 2020.
- Revenue is expected to show an annual growth rate (CAGR 2020-2024) of 16.9%, resulting in a projected market volume of US$46,648m by 2024.
- Household penetration will be 18.5% in 2020 and is expected to hit 52.4% by 2024.
- The average revenue per installed Smart Home currently is expected to amount to US$90.56.