HONG KONG, March 14, 2017 /PRNewswire/ -- Cogobuy Group ("Cogobuy" or the "Company," stock code: 400.HK), the largest e-commerce platform serving the electronics manufacturing industry in China, is pleased to announce it is expanding its supply chain focus to voice-controlled smart products leveraging its vast network with the leading technology companies worldwide. The Company is providing a full portfolio of components, modules, and end-product brands to meet high market demand for voice-controlled home appliances and other smart consumer devices. Leading home appliance brands including Haier are already incorporating voice recognition into many of their products, it is anticipated that the technology is rapidly becoming mainstream in the future, signaling enormous business opportunities. While home appliances were not a major business segment in the past, the booming demand for voice-controlled smart devices has just opened up a new enormous market opportunity for the Company, which is expected to be a growth driver in 2017.
According to China's Ministry of Industry and Information Technology, the global market for voice-controlled smart devices will reach US $11.2 billion at a CAGR of 35.1%. It is expected to be one of the most rapidly growing segments within smart devices industry.
INGDAN.com—which maintains partnerships with some of the world's most well-known chip makers—will use its platform and deep supply chain experience to develop an integrated ecosystem comprised of core AI software and service providers, as well as high quality suppliers of chips, modules, and assembled products. INGDAN platform enables traditional electronic enterprises to transform and upgrade their products and further attracts large number of traditional electronic enterprises to become INGDAN and Cogobuy customers.
Mr. Jeffrey Kang, CEO of Cogobuy Group, said: "The IoT market is booming, and opportunities for growth will continue well into the future. The area of voice-controlled smart hardware is especially promising—soon, all electronic equipment and terminals will be voice-enabled. Growth in consumer product markets like home appliances, along with increasing application of AI technologies across various traditional industries, brings a large number of new customers for us. We are excited to begin capturing opportunities in this market as we continue to facilitate traditional enterprises' in their transitions towards smart products and grow our customer base. This area is likely to be a strong growth driver for us in the coming year."
About Cogobuy Group
Cogobuy Group is the largest e-commerce service platform serving the electronics manufacturing industry in China. Through the e-commerce platform, which includes a direct sales platform, an online marketplace, and a dedicated team of technical consultants and professional sales representatives, the Company provides customers with comprehensive online and offline services across pre-sale, sale and post-sale stages. The Company serves mainly SME electronics manufacturers.
For further information, please refer to the Company's website at http://www.cogobuy.com/
INGDAN.com is a platform dedicated to connecting global intelligent hardware entrepreneurs and China-based supply chain resources. The platform provides information on hardware innovation, supply chain data and supply chain demand docking for global IoT innovators and entrepreneurs. It is a one-stop hardware innovation business platform with its core being the "supply chain."
For further information, please refer to the Company's website at http://www.ingdan.com/
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SOURCE Cogobuy Group