China and India driving $3T consumer electronics boom, smart home devices growing fastest
MICHAEL DE WAAL-MONTGOMERY for VentureBeat: Populous countries in Asia Pacific — most notably China and India — are leading a nearly $3 trillion boom in the consumer electronics market between now and 2020, with smart home devices growing the fastest of any segment, according to a new report by Future Market Insights that came out Thursday.
Top players in the space include Apple (with its new Apple TV push), Samsung (with its SmartThings Hub announced earlier this year), HP (which just split into two companies this month), LG, Sony, Toshiba, Panasonic, and Hitachi.
Basically, we’re talking about any smart device (so most likely Internet-connected) that makes life easier for the average consumer in their home.
Nest’s smart thermostat and smoke detector are probably classic examples of the segment, which the report says is growing at a compound annual growth rate (CAGR) of 23 percent. Cont'd...
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