Market Share of ASEAN Smart Homes Industry
The ASEAN smart homes market is currently fragmented but highly competitive, with the presence of established global and domestic players across the globe vying for a piece of the business in the region. Some major vendors include Siemens, Schneider, Eaton, LG, Sony, Samsung, and Google, among others.
The market is mainly driven by the addition of modern technologies and customizations to attract end-users. Vendors are concentrating primarily on offering innovative products and solutions that can optimize energy consumption and serve a high degree of automation in buildings. Partnerships and collaborations are common in the marketplace, generally to enhance offerings. A few include;
- December 2020 - Tuya Smart and Near strengthened their partnership to enhance the capitalization of the Singapore IoT Market. Near has been working with Tuya Smart since late 2018 and is the first official Singaporean smart lighting brand to be Powered by Tuya, Tuya has been involved in all aspects of Near's product creation cycle from PCB design to UI customization making it an integral component.
- November 2020 - Daikin Singapore signed an MOU with the L3 Business Group in November 2020 to provide Daikin Smart Solution for all residential project developments. The partnership will allow Daikin Singapore to implement Home Automation Solutions for Local Residential Projects in both Private Condominium and Prominent Public Housing Development such as the Singapore's HDB first Smart and Sustainable town, with green features and smart technologies, Tengah Township. The collaboration also ensues the use of FIbaro solutions in Daikin projects.
ASEAN Smart Homes Market Leaders
Siemens AG
Honeywell International Inc
Schneider Electric AG
ABB Ltd
Emerson Electric Co.
*Disclaimer: Major Players sorted in no particular order
