Smart home appliances are devices connected to other devices via different wireless protocols such as bluetooth, Wi-Fi, NFC etc. which can interact. They are basically connected through microcontrollers. Networking home appliances together, and combining their controls and key functions is the latest trend. This helps in proper energy distribution and proves to be very efficient in managing the resources. As the appliances have the ability to measure and control the energy usage, they are also referred to as intelligent devices. Due to the increasing adoption of IoT, smart home appliances have gained immense popularity.
Major factors driving the smart home appliances market are the increasing adoption of IoT and growing demand for smart homes. This is owing to the growing demand for innovative products and improved standards of living.
The Smart Home Appliances Market has been segmented on the basis of product and technology. The product segment comprises of dishwasher, washing machine, air conditioner, refrigerator, security devices, lighting devices and others. Smart home appliances accounts for the major share in the smart appliances market.
The global smart home appliances market is expected to grow at approx. USD 33 Billion by 2023, at 23% of CAGR between 2017 and 2023.
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Major Key Players:
• Electrolux (Sweden)
• Haier Group Corporation (China)
• LG Electronics, Inc. (Korea)
• Samsung Group (Korea)
• Whirlpool Corporation (U.S.)
• Dacor (U.S.)
• Fujitsu General Limited (Japan)
• Panasonic Corporation (Japan)
• Robert Bosch GmbH (Germany)
• Voltas Limited (India)
Smart Home Appliances Market Segmentation:
The smart home appliances market has been segmented on the basis of product and technology. The product segment is further bifurcated into refrigerators, dish washers, air conditioners and others.
Out of these, the refrigerators segment is expected to dominate the smart home appliances market. This is owing to the key players in smart home appliances market emphasizing on development of next generation refrigerators.
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The regional analysis of smart home appliances market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period.
The major growth in smart home appliances market in North America is attributed to the increasing investments in the smart grid projects and changing preferences of consumers in that region.
Study Objectives of Smart Home Appliances Market:
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the smart home appliances market.
• To provide insights about factors affecting the market growth.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
• To provide country level analysis of the market with respect to the current market size and future perspective.
• To provide country level analysis of the market for segmentation on the basis of product and technology.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for smart home appliances
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the smart home appliances
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