LG Electronics has opened the Middle East's first business-to-business (B2B) dedicated artificial intelligence (AI) Home experience space in Riyadh, Saudi Arabia.
LG Electronics said on the 14th it set up an AI Home experience space modeled after a local premium residence at its Riyadh brand shop. The space, composed of a living room, kitchen, bedroom, and bathroom, is outfitted with locally tailored built-in appliances and furniture, including an oven, hood, and refrigerator.
Visitors can experience appliances and Internet of Things (IoT) devices consolidation around the AI Home hub "ThinQ ON." Using Generative AI, they can control the space by voice and, linked with the smart home platform "Homey Pro," can connect various IoT devices sold in Europe, the Middle East, and Africa.
LG Electronics, in collaboration with global companies such as Schneider Electric SE and Assa Abloy, also unveiled a turnkey building management solution that encompasses not only appliances and HVAC but also power management and security. The aim is to target B2B customers such as local real estate developers and hospitality operators.
LG Electronics is focusing on the growth potential of Saudi Arabia's smart home market. According to market research firm Grand View Horizon, the Saudi smart home market is expected to grow from about $2 billion in 2024 to about $8.7 billion in 2030. The compound annual growth rate exceeds 27%.
LG Electronics plans to use the Riyadh experience space as a regional hub showroom for its Middle East and Africa B2B business. It will also expand customer touchpoints to major cities such as Jeddah and Dammam within the year.
In Korea, LG Electronics applied smart home solutions to more than 1 million housing units in partnership with major construction companies. In North America, it is targeting the builder market through "LG ThinQ Pro" for building managers, and in Europe, it is expanding its Homey-based home energy management system (HEMS) business.
Kim Seong-jae, head of the HS Overseas Sales Group (executive vice president) at LG Electronics, said, "Starting with the Riyadh AI Home experience space, we will establish ourselves as a B2B partner for local infrastructure construction projects in the Middle East by offering customized solutions."