[China Security Exhibition Network Smart Home] Microsoft unveiled a smart speaker at the 2017 Build developer conference, initiating direct competition with Amazon and Google. Apple has recently partnered with Fuli Group to launch a smart home showroom in Beijing, further expanding the smart home market in China. Apart from Microsoft and Apple, prominent domestic technology firms Huawei and 360 are also exploring the smart home market.

Technology giants are still advancing smart home technology and remain optimistic about its future prospects, especially with the maturation of artificial intelligence.

The idea of a smart home gained worldwide attention in 2014, prompting major internet companies to invest in this area. But the good times are short-lived. With industrialisation comes new challenges, making it difficult for smart home technology to gain ground. Only voices can be heard, without the presence of people. The portrayal of great prospects is far from reality.

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The growth of smart homes has been slower than expected due to several factors, including high costs, poor cost-effectiveness, and inconsistent standards. As a result, smart home devices either serve as marketing tools or are limited to one aspect of the home, leading to a significant gap in market demand. Therefore, in the last two years, the development of smart home technology has been more rational and capital-focused. However, it is without question that the smart home is one of the primary developmental trends in the future. With the rise of artificial intelligence, the smart home is exhibiting signs of making a resurgence.

As the popularity of the smart home increases, consumer concepts within the market are becoming more defined, user habits are being established, and the industrial chain is being perfected. It is anticipated that the smart home industry will enter into a growth period, where the market scale will gradually expand.

According to statistics released by the Prospective Industry Research Institute in the 'China Smart Home Equipment Industry Market Outlook and Investment Strategy Planning Report', China's smart home market grew to 60.57 billion yuan in 2016, with a year-on-year increase of 50.15%. It is anticipated that the market value will reach 139.6 billion yuan by 2018.

For smart home companies in the current market, it is important to focus on two key areas. Firstly, we should refine our products by avoiding over-virtualisation and releasing more practical smart home equipment that meets market demand. Secondly, we must shift our business concept to focus on active service and change our profit model away from product-focused approaches.

Currently, there exist numerous household appliances and products that provide intelligent features, but lack a central connection point. Once the smart home gateway is established, the industry will soon experience a surge.

In conclusion, the outlook for smart homes continues to be optimistic. With the advancement of essential technologies and a reduction in component costs, smart home equipment prices will become more favourable, leading to rapid growth and vast potential for future development.