Smart Home AppliancesMarket Highlights:
Market Research Future (MRFR) reveals that the global smart home appliances market is expected to expand with a lucrative CAGR of approximately 23% during the forecast period (2017 – 2023) and reach to a valuation worth USD 33 billion by 2023.
MRFR identified that the growing inclination of people towards a comfortable lifestyle as a major factor that is expected to promote the growth of the global smart home appliances market.
Major Key Players:
MRFR enlisted some of the prominent companies which are operating in the global Smart Home AppliancesMarket. They are; Dacor (U.S.), Electrolux (Sweden), LG Electronics, Inc. (Korea), Haier Group Corporation (China), Whirlpool Corporation (U.S.), Fujitsu General Limited (Japan), Robert Bosch GmbH (Germany), Panasonic Corporation (Japan), Voltas Limited (India), Samsung Group (Korea), and others.
- Wyze, a provider of smart home appliances to launched affordable smart plugs that can control home appliances
- LG Electronics partnered with Lumi (China) to develop new AI based technology for the smart home sector.
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The growing need for monitoring home from a remote location is anticipated to intensify the growth of the global smart home appliances market. Smart home appliances allow their users to effectively manage household activities from any corner of the house using electronic gadgets is likely to boost the global smart home appliances market. Smart home appliances curb down energy and power consumption.
This feature is aiding the high adoption rate of smart home appliance, which is likely to intensify its market growth. The availability of robust network connection and hike in the sales of smart phones are other factors, which are likely to surge the growth of the global smart home appliances market. The growing implementation of HVAC solutions, smart kitchenware, and smart furniture is anticipated to push the global smart home appliances market growth.
The global smart home appliances market has been studied on the basis of product and technology. The segmental insights of the market helps in the identification of new growth opportunities.
- Based on the product, the global smart home appliances market has been segmented into dishwasher, refrigerator, lighting devices, washing machine, security devices, air conditioner, and others. The increasing sales of consumer electronic items is expected to bolster the growth of the product segment.
- Based on the technology, the global smart home appliances market has been segmented into ZigBee, Wi-Fi, Bluetooth, radio frequency identification, cellular technology, and others.
Regionally, the global smart home appliances has been studied across North America, South America, Asia Pacific, Europe, and the Rest of the World (RoW). The growing demand for innovative smart home products in emerging economies such as China, Japan, and India and the hike in disposable income of people are factors, which are likely to surge the APAC smart home appliances market. The firm technical infrastructure in North America is also likely to contribute to the smart home appliances market growth.
In Europe, the smart home appliances market is expected to register an impressive growth over the forecast period. The high standards of living in countries like France, Germany, and the UK is encouraging the adoption of smart homes products among people, which is expected to bolster the European smart home appliances market growth.
However, the smart home appliances market in South America is likely to exhibit sluggish growth. The prevailing socio-economic backwardness in the Middle East and Africa is a factor that is likely to retard the MEA smart home appliances market growth.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
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List of Tables
Table 1 Smart Home Appliances Market, By Product
Table 2 Smart Home Appliances Market, By Technology
Table 3 Smart Home Appliances Market, By Regions
List of Figures
Figure 1 Research Type
Figure 2 Smart Home Appliances Market, By Product (%)
Figure 3 Smart Home Appliances Market, By Technology (%)
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