SMART HOME APPLIANCES MARKET - GROWTH, TRENDS, AND FORECAST (2020 - 2025)

The Market is Segmented by Product (Smart Washing Machines, Smart Air Conditioners, Smart Refrigerators, Smart Microwave Ovens, Smart Dishwashers, and Other Products) Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online, and Other Distribution Channels), Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa).

Market Snapshot

smart home appliances market

Study Period:

2015-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Major Players:

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Market Overview

The demand for smart home appliances is triggered, owing to the growing concerns of energy costs and the availability of innovative and affordable smart appliances.

  • The introduction of additional features in smart home appliances is an emerging trend in the smart home appliances market space. As the availability of ample space is a major issue for most consumers living in compact homes, players are trying to come up with appliances that have the connectivity feature, as well as sleek designs and other attractive features. 
  • An increase in disposable income and improvements in rural electrification drive the industry.
  • In addition, the rising affordability of smart appliances and increased urbanization have fueled the demand for the market.
  • Big companies are focusing on introducing smart air conditioner accessories. Startups are also trying to manufacture smart gadgets instead of manufacturing smart air conditioners.

Scope of the Report

The report offers a complete background analysis of the smart home appliances market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and market overview. The report also features the qualitative and quantitative assessment, by analyzing the data gathered from industry analysts and market participants across key points in the industry’s value chain.

By Product
Smart Washing Machines
Smart Air Conditioners
Smart Refrigerators
Smart Microwave Ovens
Smart Dishwashers
Other Products
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online
Other Distribution Channels
Geography
North America
Europe
Asia-Pacific
South America
Middle East & Africa

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Key Market Trends

Smart Air Conditioner Segment is Expected to Grow at a Higher Rate

The smart air conditioner segment is expected to be the highest growing segment, accounting for a significant percentage of the global market during the forecast period. Since the time smart air conditioner was introduced in the market, the prices of the product have come down, making the product available at a premium price, thereby increasing its adoption. Also, the product has the highest recognized value and the need for connectivity compared to the other products.

smart home appliances market

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Asia-Pacific Region is Expected to Dominate the Market

The Asia-Pacific region is expected to dominate the market due to the high demand for these appliances in China, India, and Japan, among others. The market witnessed rapid growth, as smart appliances have gained popularity, owing to their compatible and user-friendly features. In addition, emerging economies in the region, rapid urbanization, and an expanding middle-class population drive the market. Furthermore, North America is the matured region, owing to the technological advancements and widespread awareness.

smart home appliances market

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Competitive Landscape

The report covers major international players operating in the smart home appliances market. The market is dominated by players, such as LG Electronics Inc., Whirlpool Corporation, Haier Group Corporation, and Electrolux, among others. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Key Deliverables of the Study

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Drivers

    3. 4.3 Restraints

    4. 4.4 Trends Shaping the Smart Home Appliances Market

    5. 4.5 Porter's Five Forces Analysis

    6. 4.6 Industry Value Chain Analysis

    7. 4.7 Regulatory Framework

    8. 4.8 Technological Innovations

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Smart Washing Machines

      2. 5.1.2 Smart Air Conditioners

      3. 5.1.3 Smart Refrigerators

      4. 5.1.4 Smart Microwave Ovens

      5. 5.1.5 Smart Dishwashers

      6. 5.1.6 Other Products

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Specialty Stores

      3. 5.2.3 Online

      4. 5.2.4 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 South America

      5. 5.3.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 LG Electronics Inc.

      2. 6.1.2 Electrolux Group

      3. 6.1.3 Haier Inc.

      4. 6.1.4 Hitachi Ltd

      5. 6.1.5 Samsung

      6. 6.1.6 Whirlpool Corporation

      7. 6.1.7 Siemens AG

      8. 6.1.8 General Electric Company

      9. 6.1.9 Panasonic

      10. 6.1.10 Midea Group

      11. 6.1.11 Mitsubishi Electric*

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. APPENDIX

* List Not Exhaustive

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