Smarthome – the new race for technology firms

October 12, 2015 | 08:39 am GMT+7

Vietnam has high potential in the world’s smarthome market, worth $20 billion globally.


 Nguyen Hung, the founder of Greenvity, noted that though the Vietnamese smarthome market is still young, it will grow rapidly primarily because of the construction sector’s development.

Hung said Greenvity, through OnSky, has brought to Vietnam the latest smarthome products which can be used in many different fields, from trade and industry to agriculture. 
Greenvity’s technology helps save energy, reduce installation costs and reinforces security for shopping malls, offices, factories, hospitals and residential quarters.
The firm now negotiates with owners of buildings, hospitals, schools and hotels on the application of its smarthome equipment at construction works. It is also eyeing apartment blocks.
An analyst cited a Business Insider Intelligence report as predicting that IoT (Internet of Things) would be the largest device market in the world. 
It is estimated that by 2019, the number of IoT devices would be double the combined number of smartphones, personal computers, tablets and wearable smart devices.
The figure proves to be promising for technology firms, which can join hands with refrigeration, electronics and electrical appliance producers to provide smarthome solutions in the Vietnamese market.
A senior executive of Lumi, the smart electrical device and smarthome solution provider, said that Lumi’s products had been used at many apartment blocks and villas such as Time City, Royal City, Mandarin, Hoang Thanh Tower and Hoa Binh Green City. 
However, not all of the products were made from the technologies developed by Lumi.
“We have to import many kinds of components in order to obtain the best possible competitive prices,” he said.
The senior executive went on to say that no technology firm in Vietnam can make all necessary devices for smarthomes from A to Z.
Lumi in July met with Japanese company Toshiba to discuss Toshiba’s suggested cooperation to develop Lumi Home Plus on Toshiba’s products.
Prior to that, Lumi worked with AVNET, a component distributor, and Cypress, a semiconductor firm on the development of new products relating to IC PSOC and IC Bluetooth.
Lumi, Thach Anh and BKAV are the best-known Vietnamese names in the smarthome field.
BKAV announced that it was ahead of the world’s technology giants, including Apple, Google and Samsung, in developing smarthomes.
With BKAV’s smarthome system, all the devices are connected in a closed system managed by smart and friendly technology. 
Apple, Google and Samsung provide specific devices to serve separate purposes.
Analysts say that smarthomes have not been a major target market for technology giants. 
However, things will be different in the future when the companies inject more money into smarthome solutions.