Six Big Trends in Consumer IoT Market
NEW YORK, March 7, 2019 /PRNewswire/ -- Viomi Technology Co., Ltd ("Viomi" or the "Company") (NASDAQ: VIOT), a leading IoT @ Home technology company in China, in partnership with the International Data Corporation ("IDC"), issued a white paper today at the Nasdaq MarketSite. The white paper, entitled "Consumer IoT Outlook 2025," predicts six key trends in the consumer IoT market.
-- Computing capabilities of Consumer IoT devices will increase rapidly. AI + IoT is the key to the future development of Consumer IoT, which is also the core element of smart home devices, and will drive the development of sensing technology, data acquisition capability and decision-making intelligence.
-- Different network protocols will work together as a hybrid network, providing stable and fast connection anywhere and anytime. The development of ad-hoc or mesh networks will help achieve stable and fast connection. In addition, the imminent 5G era will give impetus to connection anywhere and anytime.
-- Edge computing and local storage will be widely used on smart devices, improving computing efficiency and personal privacy. Edge computing based on local storage will improve computing efficiency greatly and the application of local storage on consumer IoT devices will enhance personal privacy significantly.
-- Consumer IoT devices will have more open integration in terms of technology and scenario. Interoperability will be achieved by breaking the boundaries between products, platforms, and applications.
-- Human-device interaction will be more user-friendly and feel more natural. The evolution of interactions will lead to more user-friendly and diversified ways, including but not limited to voice-, image-, face-, and touch-based interaction.
-- Smart devices will soon move into the stage of proliferation, leading to the emergence of related services and applications. The shipment volume of China's smart home device market is expected to reach approximately 300 million units by 2022, growing at a CAGR of 18.9% from 2018, with appliances being the largest segment.
Viomi plans to present the white paper at its product launch event at the Appliances & Electronics World Expo in Shanghai, China at 7:00 p.m. Beijing Time on March 13, 2019. In collaboration with IDC at the event, the Company will share its outlook and insights for trends in the consumer IoT market through 2025.