How has Vietnam smart home changed after 10 years?

The smart home concept has been in Vietnam for more than a decade ago. However, until the 4.0 industrial revolution is popularized, a smart home will  become the trends.

Which barrier makes smart home slow to penetrate the market?

According to the development trend of technology, A smart home is expected to be a new breeze for families in Vietnam.  However, during the first stage, people only see the smart home system in resorts, luxury hotels, and villas. There are three main reasons why the smart home has not to grow up:

Traditional psychology

Since the invention of electricity, users already familiar with contactors to control electrical appliances in their homes. That exist many disadvantages, risks of fire and explosion, lack of safety and unintended power loss. But because it’s so familiar and long-term use has created a psychological barrier that the default user can not replace contactor with any other smart devices.

The price is not affordable

The second reason is the price is too high, not suitable for all users, making the installation apprehensive. In the last decade, there were only European and American smart home units on Vietnam’s market. However, the cost of installing the villa is 1 billion VND, which is too expensive.

Worry about the complexity of installation and use

Users always wonder about how to use the smart home. The replacement of the contactor affects the aesthetics of the house and destroys the design. Most people envision the complexity of controls because of the high technology. Many technology companies still have difficulty reaching customers.

The smart home situation in Vietnam today

After more than ten years of penetration, the smart home has become popular, the market penetration rate of 1.2% in 2019, and will increase by 7.8% in the next four years. According to Statista, smart home’s revenue in Vietnam reached 105.5 million USD until September 2019. Expected to reach 163 million USD by 2020.

Along with the growth of the market are a series of brands launched, belonging to many segments to meet diverse user needs. A pioneer for Vietnamese companies that own technology and produce smart devices must such as Acis Smart home, Bkav.

Especially, ACIS smart home was built by the student of the University of Technology HCM, creating a “revolution” in price when bringing the cost to only 1/4 compared to foreign products. From 30 – 150 million VND depending on the installation package, from apartments, dwelling-house, villas.

CEO ACIS, Mr. Do Nguyen Thanh Dong said “The key point that helped ACIS create low prices was because of its complete ownership of technology and manufacturing. ACIS installed directly to customers without intermediaries and without consulting costs. About technology, product warranty for five years, 1 switch 1.

Smart apartments to become a new trend

In big cities of Vietnam as Hanoi, Ho Chi Minh City, and Da Nang, smart apartments are becoming a new trend of modern residents. They are young people who welcomed the new technology as well as potential customers. In addition, they are young families, the elderly use technology to improve their lives.

Smart homes become more popular, more attention encourages big developers to apply smart technology in construction projects. Despite the high demand, the obstacle in the development of this segment is the high cost. Smart apartments offer price is higher than the traditional 10-15%. However, this is a good time for companies to assert their differences in the market.

Based on market acumen, Acis smart home quickly joined in, cooperated with big investors, implemented luxury apartments as Lavita Charm, Mornachy Da Nang, Cam Ranh Mystery, …….

In the trend of technology 4.0, predicting not only smart apartments but smart buildings have become urgent needs. Requirements are not only about technology but also meet the requirements of a friendly environment, energy efficiency, and safety.