"According to McKinsey's low-end analysis, the economic value of home IoT products will reach between US$440 billion and US$830 billion by 2030." (hereinafter referred to as Svens) recently released the "2022 Smart Home Overseas Industry Report" (hereinafter referred to as the "Report"), which shows that with the penetration of IoT technology and the increase of the public's "home life" time, more and more people around the world will spend more and more on purchasing and using smart home devices. With the penetration of IoT technology and the increase of time spent on "home life", more and more people around the world will spend more on purchasing and using smart home devices.

Recently, Lin Tianxu, Commercial Director of Savills, said in an interview with China Trade News that Savills has been focusing on the situation of the home industry going abroad for many years, on the one hand because in the process of providing digital marketing services for brands going abroad, we found that the demand for home products is growing faster overseas; on the other hand, because the volume of home products is relatively large, in the field of cross-border e-commerce is different from the small pieces that can be shipped in small packages directly. On the other hand, because of the relatively large size of household products, in the cross-border e-commerce sector, unlike small products that can be shipped in small packages, it is necessary to prepare for warehousing and logistics in advance, and the threshold for going abroad is high. Through its own database and self-research tools, cooperation with overseas head search engines such as Google and third-party platforms, Savills has formed a research team to compile the Report, enabling smart home furnishing brands to go abroad.

According to the Report, by 2025, smart home global revenue is expected to reach US$182.3 billion, with a growth rate of 18.1%. Among them, smart home appliances are the category with the largest share of scale, with global revenue expected to reach US$71.1 billion by 2025, with a growth rate of 19.3%.

"Portable energy storage power is one of the hot products of the moment in the smart home appliance sector, and the industry scale outlook is very promising." Lin Tianxu said, for example, portable energy storage power supply is a kind of mobile power supply that can be used to power high-power devices in an environment without a power grid, and is commonly used in scenarios such as emergency at home, camping in the wild, outdoor shooting, and self-driving in caravans. In addition to being suitable for a variety of scenarios, it has the advantages of being small, portable, aesthetically pleasing, safe, natural and environmentally friendly using clean energy, and can support a variety of charging methods, making it popular with overseas users. In Europe and the United States, where the popularity of outdoor activities is high, portable energy storage power has been integrated into people's daily lives and has become a hard necessity. The advancement of lithium battery technology and the continued reduction of costs under large-scale commercial use have also laid the foundation for the best-selling portable energy storage power products.

Amazon bestseller sales list shows that in 2021, the portable energy storage power market capacity of up to 1,026,300 units, an increase of nearly 15 times over 2018. google data shows that from 2020 to 2022, the United States for two consecutive years on the energy storage power search volume increased by about 40% year-on-year. Meanwhile, website analytics tool similarweb shows that portable energy storage power supplies occupy two of the top 10 fastest-growing electronics brands.

According to the Report, North America is currently the largest market for portable energy storage power supplies, accounting for more than half of the market demand, followed by Asia and Europe. China is the main production of portable energy storage power, not only the supply chain is more mature, brand performance is also growing stronger, Amazon U.S. Best Seller Ranking data shows that the top 20 portable energy storage power brands, 10 of the Chinese brands.

In addition, sweeping robots and lawn mowers are also smart home appliances that are in high demand overseas. From Google Trends data, the global search volume for floor sweeping robots has been on the rise over the past five years. Among them, the major Chinese brands in overseas markets, Ecovacs and Roborock, have seen a steady increase in search volume, with Roborock in particular already very close to the leading US brand iRobot. The Report predicts that by 2025, the global market size of the floor-sweeping robot industry will reach US$7.5 billion.

"High cost performance is one of the core competencies of Chinese products going abroad." Lin Tianxu said that according to Amazon's US site data, among similar products, the price of Chinese sweeping robot products is 70%-80% of iRobot's, with a more advantageous price. Moreover, most overseas sweeping robots are based on a single "sweeping" function, and consumers need to buy two different machines to meet both "sweeping" and "scrubbing" needs. The cost is higher. The performance of Chinese brands is more comprehensive, with Coors, for example, having transformed its sweeping robot from a single sweeping function to a sweeping and mopping product; the sweeping method has changed from suction first and then mopping to simultaneous suction and mopping, greatly improving cleaning efficiency and truly achieving intelligent self-cleaning.

As for lawn mowers, there is a huge demand for lawn mowers overseas due to the high labour cost of mowing the grass more frequently in a year. In Lin Tianxu's opinion, behind the high demand also lies a series of challenges that overseas brands need to pay attention to. Firstly, the technology is not perfect, such as positioning and navigation, edge cutting, cleaning, noise reduction, climbing ability, safety and other issues need to be solved; secondly, it is difficult to guarantee after-sales service, as the complexity of overseas markets is much higher than that of domestic markets, it is difficult and costly for overseas brands to build their own after-sales service in overseas markets. Although there are professional third-party independent after-sales service companies, as different types and standards of lawn mower products enter the market, it will be difficult for the third-party after-sales service to meet the after-sales demand of overseas brands; thirdly, the market concentration is high and the channel barriers are strong, so how to improve the acceptance and recognition of overseas consumers will require overseas brands to make efforts in product performance and brand marketing.