ccording to a Fuji Research Laboratory report, the Japanese smart home market is expected to top JP¥4.2 trillion (US$38 billion) in 2025, up 36.3 percent from 2017. The market is being driven by smart devices including smartphones, which already account for more than half the market and are continuing to grow due their ability to conveniently connect IoT devices.
According to a CIRP study, Amazon Alexa has a commanding 70 percent market share in the US, with rival Google Assistant taking 24 percent. A Market Research Future study predicts the voice assistant market will reach US$7.8 billion by 2023, a compound annual growth rate of almost 40 percent.
Chinese IoT startup Tuya Smart has completed its Series C funding with nearly US$200 million, led by Future Fund, NEA, China Broadband Capital, Quadrille Capital and C.M.Capital. The company will apply the funds to its AI+IoT, Smart City, Smart Business and Smart Home technologies.