This year’s IFA Product Technical Innovation Award spotlights AI and IoT
IDG is once again sponsoring the esteemed IFA Product Technical Innovation Awards alongside the German Chamber of Commerce & Industry. Here, IDG Asia VP Orient Zhu explains the importance of the Awards and discusses IDG’s support for CE China.
Please give us an overview of the IFA Product Technical Innovation Award.
The IFA Product Technical Innovation Award, jointly launched by IDG and the German Chambers of Commerce & Industry (GIC) in 2014, celebrates the technical innovation of participating products. This year 78 products were submitted by 61 companies, and 24 products were selected. For this year’s Award, we are focusing more on innovative applications of AI, 5G, IoT and other new tech. All participating products are required to achieve core breakthroughs, be innovating and change capabilities in terms of product design and application. We hope the Award brings together consumer electronics manufacturers and provides a platform for technical cooperation.
WE HOPE THE AWARD BRINGS TOGETHER CONSUMER ELECTRONICS MANUFACTURERS AND PROVIDES A PLATFORM FOR TECHNICAL COOPERATION.
What do you see being the key trends in the industry?
According to data released by Statista, the global smart home market will reach US$79.3 billion in 2021. The future smart home market will see huge explosive growth. Alongside the commercialisation of 5G, the consumer electronics sector will introduce a new industrial revolution. On one hand, there is a diversification of consumers and rapid change in user habits. On the other, 5G expedites the applications of cloud computing, big data, AI, IoT and other technologies.
IDG supports IFA’s CE China. What are the key elements of this partnership?
As with the Award, IDG and Messe Berlin are key partners on CE China. The event provides a platform for Chinese consumer electronics brands to go global and cooperate with foreign consumer electronics industries. IDG assists CE China and support its preparations, creating an international cooperation platform for Chinese consumer electronics manufacturers and retailers.
Why is it important to have created a show like CE China?
CE China, which takes place in Guangzhou for the first time this year, provides an important platform for showcasing new concepts, technologies and products from the most innovative companies in the world. In addition to the exhibition, we will also prepare theme forums, product launches, promotions and press conferences. We also promote the matchmaking of technology, talent, capital, services, and upstream and downstream channels.
How is the Chinese market – both in terms of manufacturing and also in terms of consumption – affecting global design and production trends?
In 2018, China’s output of mobile phones, computers and colour TVs accounted for 90%, and 70% of the world’s total output. In recent years, China has achieved remarkable results in intelligent and high-end consumer electronics. In the past two years, we have seen categories grow rapidly, including floor mopping robot, robotic window cleaners, robot chef and other smart appliances. We can see that a number of leading consumer electronics enterprises have emerged in China.
According to data released by Strategy Analytics, the global smart home market will increase at a CAGR of 10% in five years from 2018 to 2023, and will reach US$155 billion by 2023. It is predicted that the overall output value of smart homes in China will approach US$300 billion by 2020.
Photo: Orient Zhu Vice President, IDG Asia