Smart homes have been in Vietnam over ten years, but only became popular recently. The installation costs have been falling due to the development of Industry 4.0 and the competitive market between domestic and foreign suppliers. Despite a late start, domestic suppliers have certain advantages.
According to Statista market research company, Vietnam ranked 45th in the global smart home ranking. With the current stable growth rate, the domestic smart home market is expected to hit 330 million USD by 2022.
