Having invested and developed the consumer IoT sector for over eight years, Xiaomi has successfully created an IoT ecosystem with over 2,000 product SKUs. In 2020, the IoT and lifestyle product sector grew 9% YoY to reach RMB 67.4 Bn and accounted for over 27% of Xiaomi’s total revenue. In 2020, the number of connected IoT devices (excluding smartphones and laptops) on Xiaomi’s IoT platform reached 324.8 Mn units. Xiaomi cooperates with most ecosystem companies under an “investment + incubation” model. In this report, we deep dive into Xiaomi’s IoT ecosystem, analyzing the development roadmap, investment logic, evolution vision, success factors and future challenges. Xiaomi IoT product performance with special reference to the cellular product line has been also analysed within this report.
Table of Contents:
- Executive Summary
- The Emergence of Xiaomi’s IoT and Lifestyle Products
- Xiaomi IoT: Development Strategy & Investment Philosophy
- Xiaomi & Ecosystem Companies
Number of Pages: 33
Author: Soumen Mandal, Akshay R S