The global smart appliances market size was USD 32.76 Billion in 2021 and is expected to register a revenue CAGR of 17.4% during the forecast period, according to latest analysis by Emergen Research. Increasing expansion of wireless connectivity across the globe is a key factor driving market revenue growth.
Wireless connectivity is becoming increasingly popular among residential and commercial users, hence controlling home systems with cellphones over Wi-Fi is playing a significant role. Wireless solutions enable users to monitor and operate smart home appliances from any location at any time, saving both money and time while reducing energy use. Furthermore, even when users are not there, they can monitor the operation of these appliances on their tablets or smartphones. Wireless connectivity is also very useful for diagnosing problems, communication between appliances, and energy monitoring.
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The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
Some major companies in the global market report include LG Electronics, Samsung Electronics, Electrolux, Panasonic Corporation, Haier Group Corporation, Koninklijke Philips N.V., Xiaomi, BSH Hausgeräte GmbH, Miele, and Whirlpool Corporation.
Highlights from the Report
- The smart washing machines segment accounted for largest revenue share in 2021 due to rising demand for smart washing machines among users. Smart washing machines can be connected to home Wi-Fi networks, which are user-friendly and easy to use making it popular among customers. In January 2021, LG launched LG ThinQ washing machines in India, which have an Artificial Intelligent Direct Drive (AI DD) motor.
- The online segment is expected to register a significantly fast revenue growth rate over the forecast period due to rising preference for online purchasing behavior among customers in the recent years. Manufacturers are getting it easier to reach out to a wider range of potential customers at a low cost through online. This is prompting manufacturers to develop their websites and form agreements with big e-commerce companies to increase online sales. In addition, rising introduction of digital platforms during COVID-19 pandemic is driving growth of the online segment.
- The Asia Pacific market is expected to register a significantly fast revenue growth rate during the forecast period. This is due to increasing penetration of smart homes and rising adoption of IoT technologies in countries across the region, especially in China, Japan, and India.
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The report studies the historical data of the Smart Appliances Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Emergen Research has segmented the global smart appliances market based on product, distribution channel, technology, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Smart Refrigerators
- Smart Air Conditioners
- Smart Microwave Ovens
- Smart Dishwashers
- Smart Washing Machines and Dryers
- Smart Water Heaters
- Smart Coffee Makers
- Smart Ovens
- Smart Vacuum Cleaners
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Technology Outlook (Revenue, USD Billion; 2019-2030)
- Near Field Communication (NFC)
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
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The complete regional analysis covers:
North America (U.S., Canada, Mexico
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Points of Smart Appliances Market:
Extensive coverage of the analysis of the Smart Appliances market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Smart Appliances market
Complete data about the key manufacturers and vendors in the Smart Appliances market
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