With the ongoing evolution of artificial intelligence, speech recognition, big data, and somatosensory interaction technologies, along with the rising living standards of people, the intellectual demands within home life are steadily increasing. As a crucial component of home life, home appliances are evolving from traditional models towards smarter, larger-scale, higher-capacity, and more secure options, making daily life more convenient, safe, and efficient. Against the backdrop of this technological shift, the entire household appliance industry is poised to encounter unprecedented opportunities and significant challenges.
This is both the best time and the most challenging era for the home appliance sector. Reflecting on history, it's clear that every industrial revolution stems from the unique conditions of its time. Amidst today’s era of great transformation and growth, industries are undergoing a transformative process akin to rebirth, aligning with contemporary developments. Thus, the home appliance industry must embrace this transition and upgrade. As participants in this field, our responsibility is to recognize these changes and adapt accordingly.
Yu Daihui, Vice President of Infineon Greater China and Head of the Industrial Power Control Division, shares his perspective: "From the standpoint of supply-side reforms, mass innovation, entrepreneurial ventures, consumption upgrades, and accelerating globalization, this period presents unparalleled opportunities for the home appliance industry. It will enhance collaboration, mutual benefits, and shared innovation across the upstream and downstream industrial chains. However, it is also a challenging era where opportunities and challenges coexist."
Infineon, a German semiconductor company closely linked to the home appliance industry, is reshaping its development strategies to align with China’s era of profound transformation. In essence, Infineon has evolved its strategy from 'winning in China' to 'winning with China,' focusing on building a local ecosystem and supporting emerging industries. Their goal is to help local customers expand globally and support China's Made in China 2025 initiative, positioning themselves as trusted partners to both the Chinese government and local businesses.
The current era fosters trends that shape industries. As we move toward an age of intelligence and interconnected everything, products are expected to become increasingly intelligent. Fu Xin, Director of the Smart Home R&D Department at Midea, noted, “Products that aren’t smart feel somewhat outdated.†Intelligence is the defining trend of our times. To stay competitive, businesses must leverage this trend effectively.
He Jinming, General Manager of the Industrial Online Appliance Division, observed several shifts impacting the home appliance industry:
1. Demand shift: Large-scale replacements account for 70% of demand, emphasizing qualitative changes.
2. Driving forces: Consumption upgrades and corporate transformations are propelling growth.
3. Layout changes: Companies are expanding globally through mergers and acquisitions to distribute assets internationally.
4. New growth engines: Kitchen appliances, dishwashers, and health products are emerging as key sectors.
5. Domestic market: A total capacity of approximately $774.2 billion indicates vast opportunities.
6. International outlook: Benefits from the Belt and Road Initiative and currency devaluation have strengthened exports.
He Jinming concluded, "In the next 3-5 years, China's home appliance industry will see the emergence of globally competitive unicorns in specific segments."
China’s home appliance industry has grown into a global manufacturing powerhouse but still has room for improvement. Hu Xiaohong, Director of the Information Consultation Department at the China Household Electrical Appliances Association, emphasized the goal set in the 13th Five-Year Plan: to make China a global appliance powerhouse by 2020. She highlighted three keywords—diversity, quality, and branding—as pathways to achieving this goal. Despite progress, China’s industry still lacks core technologies like sensing, control, and high-performance chips.
Fu Xin of Midea’s Smart Home R&D Department proposed that standalone smart products aren’t enough; what consumers truly desire is scene-based experiences. This aligns with the author’s belief that interconnected products tailored to lifestyle habits and applications are essential.
The smart home industry, thoughèµ·æ¥ later in China, is rapidly gaining traction. By 2018, the smart home market was projected to reach $180 billion, attracting substantial investment and competition.
Smart homes exemplify the Internet of Things, integrating security, lighting, entertainment, communication, and appliances to create smarter living spaces. Midea introduced its M-Smart strategy in 2014 and has since become one of the few companies offering comprehensive hardware, cloud, and terminal solutions.
While competition intensifies in the smart home space, building robust ecosystems and fostering innovation remain critical. Infineon’s Vice President of Greater China and Industrial Power Control expressed hope that upstream and downstream collaborations would lead to open, inclusive ecosystems, delivering superior products and solutions to customers.
This convergence of technology, consumer needs, and industry trends suggests a bright future for the home appliance industry.
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