According to the recent study the smart washing machine market is projected to reach an estimated $5.5 billion by 2028 from $2.2 billion in 2023, at a CAGR of 20% from 2023 to 2028. Growth in this market is primarily driven by increasing household spending on luxury, growing customer inclination towards smart products, and rising need for energy efficient washing machines.
A more than 150 – page report is developed to understand trends, opportunities and forecast in smart washing machine market by product type (front load and top load), capacity (less than 6 kg, 6-10 kg, and more than 10 kg), application (residential and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Front load market is expected to remain the largest segment during the forecast period.”
Based on product type, the smart washing machine market is segmented into front load and top load. Lucintel forecasts that the front load market is expected to remain the largest segment due to rising inclination of consumers towards conventional front-loading washing machines owing to its loading capacity and energy efficient features.
“Within the smart washing machine market, the residential segment is expected to remain the largest application”
Based on application the residential segment is expected to witness the highest growth over the forecast period due to increasing disposable income, growing working women population, and rising trend of smart homes in the developed countries.
“Asia pacific will dominate the smart washing machine market in near future”
APAC is expected to witness the highest growth over the forecast period due to rapid urbanization, growing middle class population, and an increase in spending of consumers on electronic products
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Major players of smart washing machine market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Honeywell International, Koninklijke Philips, Sunbeam Products, Xiaomi, and Blueair are among the major smart washing machine providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-washing-machine-market.aspx or [email protected]