Smart Appliances Market: Growing Need For Energy Conservation To Accelerate Market Growth

24-Jul-2018 | Zion Market Research

With the rising global trend for Internet of Things technology, the demand for smart appliances market is rapidly gaining momentum. Smart appliances make extensive use of advanced computers & communications systems to enhance its operational efficiency, energy-efficiency, and cost-efficiency. They can remain connected to Internet through Wi-Fi connectivity and can be easily controlled as well as accessed remotely by any smart phone, tablet, or a computer.

Widespread application of home appliances has resulted in rising power consumption, thereby forcing power utility firms to explore various sources of energy. It has been witnessed that home appliances such as air conditioners, water heaters, lighting fixtures, and refrigerators consume ample power.

The rampant use of home & kitchen appliances has resulted in a sharp rise in electricity bill costs. High power consumption along with frequently escalating costs have forced consumers search for other energy-conserving & cost-saving alternatives, thereby resulting in their shifting  preferences towards smart appliances. These factors are likely to drive the growth of smart appliances market over the coming years.

Rising disposable incomes, advanced technology, and commercialization of the smart home systems in the developed countries are likely to spur the growth of smart appliances market over the next few years.

In January this year, Whirlpool Corporation became the first home appliance manufacturer to activate other myriad functions of Apple Watch. Introduced in early 2018, the connected devices of Whirlpool are anticipated to help customers remotely connect with ovens, dryers, and washing machines through Apple Watch.

During the same month, Whirlpool had announced its partnership with Honeywell systems to expand its capabilities by working with the connected home segment of Honeywell systems. Experts state that the collaboration will help customers to connect their Whirlpool smart devices with connected thermostats of Honeywell, thereby helping them to remotely manage the operating modes & energy outputs of their equipment.

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