Smart Home Technology Underutilized by Asia Pacific Consumers
By 2030 the Smart Home industry is expected to reach US$400 billion worldwide, with Asia Pacific accounting for 25% of it. It is paramount for businesses to know consumer needs and concerns in order to surface as a market leader.
SINGAPORE, 7 March 2018 –– Digimind, the global leader in social listening and market intelligence, released a new report that provides an extensive outlook on conversation trends and online discussions around smart devices and virtual assistants by brands such as Google, Amazon, Apple, Bose, Xiaomi, Lenovo, Microsoft, Samsung and more. From the successful market penetration of Google Assistant and Amazon Alexa to how smaller players can grab a slice of the pie, the report analyzes key trends on social media, blogs, and websites, and elaborates on how these insights can help businesses gear up for the future of smart homes.
Smart home technology has evolved from a science fiction trope to one of the hottest topics in the world of consumer electronics. From finding out the weather to playing music without lifting a finger, the potential for transforming users’ lives and enhancing connectivity is limitless.
Online channels are bursting with excited conversations about the conveniences and potential these technologies present. By monitoring discussions on social media, brands can attain insights on the latest trends and consumer perceptions around current smart home offerings.
Virtual Assistants by Tech Giants Dominate
Google Assistant and Amazon Alexa made up 80% of conversations about virtual assistants, and about 67% of conversations about smart homes. The volume of mentions about these brands can be attributed to consumers discussing which devices and softwares are compatible with their voice assistant (VA) of choice, as well as product updates to the VAs.
Google and Amazon’s strong market presence and immense data vaults have created a high barrier to entry for other aspiring brands. As a result, electronics companies are instead capitalizing on existing voice activated technology by creating products that integrate with popular VAs as opposed to creating their own.
The exception to this, is in the Chinese market where local brands strive to innovate and gain footing in this booming market. Currently the world’s second largest smart speaker market, China is home to leading brands like Baidu, Xiaomi, and Alibaba. These homegrown brands leverage on their localised market knowledge to go up against its American counterparts. DuerOS by Baidu, for instance, has made its mark as China’s version of Amazon Alexa.
Top Buying Factors For Smart Home Technology
Good audio quality was a crucial factor when purchasing a smart speaker. Users also considered VA integration during purchase, with many people asking questions to find out which products were compatible with the preferred VA. It is important for consumer electronics brands to monitor trends around such consumer conversations to identify which brands to partner with, and to cater marketing and communications to respond to frequently asked questions.
Are Smart Homes Underutilized in Asia Pacific?
Internauts talking about smart devices were fascinated with the convenience and novelty of using voice activated devices for entertainment purposes such as listening to music or the radio, while carrying out everyday tasks was a secondary use. This goes in line with good audio and entertainment being key purchase considerations. However, questions posed about smart lighting compatibility and comparisons, as well as home security, shows consumers in the region are taking steps toward utilizing smart devices more holistically.
“As Asia Pacific shapes up to be a key market for smart home technology, brands must be strategic in scaling adoption and use.” says Mr Stephen Dale, General Manager APAC, Digimind. “With consumers sharing their smart home experiences online and seeking opinions about technologies and products available, companies looking to penetrate the smart home industry can gain a competitive advantage through the use of insights from social intelligence. From information about competitor’s products to brand sentiments, the Internet is rich in data to support product development, and business strategies.”
About Digimind
Digimind is the leading social media listening and competitive intelligence software, designed for brands and agencies who want to accelerate digital transformation through an insights-driven approach. Recognized by Forrester and Gartner, Digimind’s best-in-class technology transforms social and online data into actionable business insights, enabling marketers to effectively plan, execute, and analyze their marketing strategy.
Founded in 1998, Digimind is headquartered in New York, Paris, Singapore, and Rabat, serving more than 600 customers worldwide including LinkedIn, Sony, McCann Worldwide, and Lexus. Learn more at www.digimind.com.
Press Contact
Sophia Guan, Marketing Manager APAC
+65 9337 7842 | [email protected]
