Core Insights - Haier Smart Home and Jomoo Group have formed a strategic partnership to collaborate in four key areas: smart living, technology interconnectivity, scenario co-creation, and service ecosystem [1] - The smart home market in China is projected to reach a scale of 682.1 billion yuan by 2024, indicating significant growth potential [4][6] - Despite market expansion, the smart home industry faces challenges such as interoperability issues, complex user experiences, and the prevalence of "pseudo-smart" products [8][9] Market Expansion - The smart home market is becoming increasingly popular due to advancements in IoT, cloud computing, big data, and AI technologies, with the national technology contract transaction volume expected to reach 6.8 trillion yuan in 2024, growing by 11.2% year-on-year [3] - Companies like Kingboard Home and Beijing Lier are establishing new subsidiaries focused on smart technology, indicating a trend of businesses entering the smart home sector [1][4] Consumer Demand - There is a growing consumer interest in smart home products, particularly among younger demographics who seek convenience and enhanced living standards [6][7] - The Z generation, as digital natives, shows a high acceptance of smart products, shifting their consumption focus from functionality to emotional and experiential satisfaction [6][7] Challenges in the Industry - The smart home market is plagued by "pseudo-smart" products that do not deliver genuine smart functionalities, leading to consumer dissatisfaction and market confusion [8][9] - The lack of standardization and interoperability among different smart home ecosystems hinders consumer experience and market growth [9] Future Directions - To address the "pseudo-smart" issue, companies need to shift their focus from mere connectivity to creating seamless, intuitive user experiences that integrate various smart devices into cohesive living environments [9] - The future competition in the smart home market will revolve around ecosystem integration rather than individual product offerings, emphasizing the importance of creating comprehensive solutions for consumers [9]