As consumer demand for both security and convenience increase, the smart home market grows. From 2018, where the market was valued at $7 billion, to the year 2025, the market is expected to grow five-fold. In addition, household penetration is expected to grow from 4.6% to 13.7% by the year 2023. Already these market increases have pushed JD.com sales up in the year 2019. These increases in market value and sales are what Richard Liu, the founder of JD.com, plans to capitalize upon using their Internet of Things (IoT) platform.
JD’s Internet of Things platform is helping Chinese families live a smart life. Now, they can control the temperature of their homes when they aren’t even there, securely monitor all of their belongings from anywhere that they are, and control so many more things with just their phone. With the IoT platform, the options are almost limitless.
In addition to JD, there are many other companies that are embracing the smart home community as a way to increase value in their homes and to stay relevant. However, JD is unique in this area of business because, unlike their competitors, they are not just focused on the individual homes. Instead, they are looking at the residential compound as a whole, allowing property managers to identify key issues and resolve them almost instantly, with the help of many platform features, such as the centralized visual operations system. These platform features will push properties further into the future and increase their business potential.
Because of how important and profitable smart living solutions are becoming, Richard Liu has already managed to get 20 real estate industry leaders to partner with his company. These partners span over 30 cities in China. They are being provided with JD.com Internet of Things platforms for both smart home and property solutions. Some of the key features that this platform includes are allowing facial recognition for entry into a building, as well as using a QR code to be used for temporary access for visitors. Gone are the days of keys and keypads. These features are just a few of the many options provided by the JD Internet of Things platform.
One of the industry leaders that has partnered with JD is Tianrun Real Estate. This company has recently installed JD smart home solutions in one of their many communities. The Tianrun Avenue Foch community families now have access to numerous smart living solutions. They are now able to control their heating and cooling needs before they are even home. In addition, they can schedule not only when their lights turn on but when the elevators arrive to pick them up each day. Another big feature is an air purifying and humidifying system that adjusts based on the climate conditions throughout the day.
In comparison to the Tianrun Avenue Foch community, the Caifu Building, which is located in Changsha, fully integrated the JD software and hardware system platform into it. This platform included numerous features, such as a property management system. Other services that are offered in this building are smart access to the building, parking area, and elevators. In addition, there is a smart payment option for the parking system. For the owners of the property, there is even a management app.
There are numerous other places that are embracing JD.com’s IoT platform into their properties. These places, along with the vision of JD and Richard Liu, are going to help push China into the future.
