Smart Appliances Market - Global Industry Analysis

Smart Appliances Market By Technology (Wi-Fi, Bluetooth, NFC, and Others), By Sales Channel (Online Sales, and Offline Sales), By End Usage (Residential, and Commercial), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 28-Mar-2022 Category: Consumer Goods Report Format : PDF Pages: 110 Report Code: ZMR-858 Status : Published

The size of the global smart appliances market is expected to grow at the rate of 17.85% CAGR during the forecast period from USD 33.46 billion in 2021 to approximately USD 77.14 billion in 2028.

Description

Smart Appliances Market: Industry Prospective

The size of the global smart appliances market is expected to grow at the rate of 17.85% CAGR during the forecast period from USD 33.46 billion in 2021 to approximately USD 77.14 billion in 2028. This report discusses market research on the smart appliances market, its market growth factors, and its challenges. The report also talks about the opportunities available to stakeholders and potential investors in the smart appliances market, discussing the recent changes due to the pandemic.

Smart Appliances Market: Overview

Appliances that are connected to a central system and can be programmed & controlled remotely or autonomously using electronic systems such as sensors, IoT, lights, etc. are categorized under smart appliances. A smart appliance is a more advanced version of a traditional appliance that is controlled by a network of linked devices. Tablets, computers, and smartphones are examples of linked gadgets that are designed to provide greater control and information. Advanced smart appliances are studied and created to function according to the needs of the user, and the user is told when it is time to turn them off. Smart appliances include an energy-efficient function that allows the end-user to operate with little power usage.

COVID-19 Impact:

The global smart appliance market's growth pace has slowed as a result of the COVID-19 outbreak. It has had a beneficial and bad impact. Due to the COVID-19 pandemic, demand for smart appliances such as refrigerators, washing machines, and other similar items has increased. Because the majority of the population now works from home, spending more time at home necessitates a large number of appliances that can complete tasks quickly compared to traditional methods. People, on the other hand, are primarily concerned with fundamental necessities. The retail business, as well as the smart appliance market, is projected to suffer as a result of this consumer buying mentality. Due to stalled production, all areas' manufacturing capacities have been harmed, and the supply of products from producers to end consumers has dramatically decreased.

Smart Appliances Market: Growth Drivers

Introduction of new technologies and access to the internet to boost the market growth

Smart appliances must be connected to the internet to provide consumers with 'smart' functions. Smart appliances would cease to be 'smart' if they lack additional features and functions, which always necessitate an internet connection. Smart appliances have become more accessible as the internet has grown in popularity. Furthermore, the number of smartphone users has skyrocketed in recent years. Another development driving the market is the introduction of new technologies and compact devices that occupy less space but provide improved functionality. Users are drawn to smart appliances because of the ease with which they can monitor them using their smartphones or tablets. It's a huge benefit to be able to link all of your household appliances over the internet with a single interface.

Global Smart Appliances Market

Smart Appliances Market: Restraints

Hacking and privacy issues are expected to restrict the market growth

Users of smartphones and the internet are concerned about the possibility of their personal information, such as their name, email address, home address, date of birth, and credit card credentials, being shared and seen. Furthermore, smart appliances are mostly managed by smartphone applications developed by emerging firms; corporations gather user data through these applications, further raising consumer concerns about data privacy. As a result, privacy issues might be a stumbling block to the expansion of the global smart appliance market.

Smart Appliances Market: Opportunities

Work-from-home culture and requirement to automate chores

People have begun to stay at home since the advent of the COVID-19 epidemic. As a result, in the last year, people's reliance on the internet and digital devices has grown. Because individuals aren't going out as much, key day-to-day spending has plummeted. People's discretionary income has grown as a result of this. Furthermore, because people are remaining at home, smart gadgets are being utilized more than before the epidemic. This opens up a lot of potential for smart appliance makers and suppliers to come up with more unique and user-friendly features in their products to attract customers.

Smart Appliances Market: Challenges

Durability and compatibility issues among appliances pose challenges to market growth

Many manufacturers are working on various systems that use a variety of technologies for smart appliances. It is simple to integrate and connect devices from the same manufacturer or vendor; however, linking systems from multiple manufacturers or suppliers is a time-consuming job that might result in restricted functionality and unreliable services, in addition to incompatibility difficulties. Secondly, in the era of plastics and new production materials, several appliances are delicate and not durable. As a result, lack of durability and the problem of device compatibility poses a hindrance to the market's growth.

Smart Appliances Market: Segmentation Analysis

The global smart appliances market is divided into three categories, namely technology, sales channel, end usage, and region. In terms of technology, four main segments exist namely Wi-Fi, Bluetooth, NFC, and Others.

In terms of sales channels, two main segments exist, which are online sales and offline sales. With the rising trend towards online purchases and COVID-19 restrictions, people have been inclined towards the online sales segment, purchasing products online, rather than offline stores. This segment promises the potential for the smart appliance market.

In terms of end-user, this market can be divided into residential and commercial. The residential segment is expected to grow widely, given the increased number of work-from-home employees looking to make life easier. The change in lifestyle and mass population opting for luxury smart appliances will also fuel this growth.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Recent Developments

  • In 2021, LG Electronics released the LG CordZeroThinQ A9 vacuum cleaner equipped with two special modes with moping for a hassle-free cleaning experience. The cordless feature became a revolution in the vacuum cleaner market.
  • In 2020, Haier Smart Home launched a new rooftop air conditioner with a heat pump and a high-efficiency product. The heat from the outside is piped into the interior of RVs using the new AC to support furnace running revolutionizing the competition in the air conditioning market.

Smart Appliances Market: Regional Landscape

North America is likely to govern the global smart appliances market during the forecast period. The United States and Canada, out of all the areas, are seen to have a growing adoption rate of IoT devices and achieving the position of leading countries in the region. Furthermore, due to the high demand rate, Asia Pacific is expected to be the fastest-growing area in the smart appliances market, yielding the most profit. In the Asia Pacific region, the smart appliance manufacturing market in India, South Korea, Japan, and China is constantly expanding.

Smart Appliances Market: Competitive Landscape

Samsung Electronics, Haier Smart Home,  LG Electronics, BSH Hausgerate, Panasonic, Electrolux, Koninklijke Philips, Xiaomi, Whirlpool, and Miele & Cie. KG are among the global smart appliances market's major players.

The global smart appliances market is segmented as follows:

By Technology

By Sales

  • Online Sales
  • Offline Sales

By End Usage

  • Residential
  • Commercial

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global smart appliances market, 2017 - 2024 (USD Billion)
    • 2.2. Global smart appliances market: snapshot
  •  
  • Chapter 3. Smart Appliances Market- Market Dynamics
    • 3.1. Introduction
    • 3.2. Market Drivers
      • 3.2.1. Global smart appliances market drivers: impact analysis
      • 3.2.2. Availability of wireless solutions
      • 3.2.3. Changing lifestyle and preferences of consumers
    • 3.3. Market Restraints
      • 3.3.1. Global smart appliances market restraints: impact analysis
      • 3.3.2. Privacy concerns among end users
    • 3.4. Opportunities
      • 3.4.1. Large-scale digitization
    • 3.5. Porter's five forces analysis
      • 3.5.1. Bargaining power of suppliers
      • 3.5.2. Bargaining power of buyers
      • 3.5.3. Threat from new entrants
      • 3.5.4. Threat from new substitutes
      • 3.5.5. Degree of competition
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis, by product segment
      • 3.6.2. Market attractiveness analysis, by technology segment
      • 3.6.3. Market attractiveness analysis, by regional segment
  •  
  • Chapter 4. Global Smart Appliances Market- Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global smart appliances market: company market share, 2017
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New therapy launch
      • 4.2.3. Agreements, partnerships, collaborations and joint ventures
      • 4.2.4. Research and development and regional expansion
    • 4.3. Price trend analysis
  •  
  • Chapter 5. Global Smart Appliances Market- Product Segment Analysis
    • 5.1. Global smart appliances market: product overview
      • 5.1.1. Global smart appliances market revenue share, by product, 2017 and 2024
    • 5.2. Smart Home Appliances
      • 5.2.1. Global smart appliances market for smart home appliances, 2017 - 2024 (USD Billion)
      • 5.2.2. Smart Washer
        • 5.2.2.1. Global smart appliances market for smart washer, 2017 - 2024 (USD Billion)
      • 5.2.3. Smart Dryer
        • 5.2.3.1. Global smart appliances market for smart dryer, 2017 - 2024 (USD Billion)
      • 5.2.4. Smart Air Conditioner
        • 5.2.4.1. Global smart appliances market for smart air conditioner, 2017 - 2024 (USD Billion)
      • 5.2.5. Smart Lighting Devices
        • 5.2.5.1. Global smart appliances market for smart lighting devices, 2017 - 2024 (USD Billion)
      • 5.2.6. Smart Vacuum Cleaner
        • 5.2.6.1. Global smart appliances market for smart vacuum cleaner, 2017 - 2024 (USD Billion)
      • 5.2.7. Smart Security Devices
        • 5.2.7.1. Global smart appliances market for smart security devices, 2017 - 2024 (USD Billion)
      • 5.2.8. Smart Water Heaters
        • 5.2.8.1. Global smart appliances market for smart water heaters, 2017 - 2024 (USD Billion)
    • 5.3. Smart Kitchen Appliances
      • 5.3.1. Global smart appliances market for smart kitchen appliances, 2017 - 2024 (USD Billion)
      • 5.3.2. Smart Refrigerators
        • 5.3.2.1. Global smart appliances market for smart refrigerators, 2017 - 2024 (USD Billion)
      • 5.3.3. Smart Coffee Maker
        • 5.3.3.1. Global smart appliances market for smart coffee maker, 2017 - 2024 (USD Billion)
      • 5.3.4. Smart Kettle
        • 5.3.4.1. Global smart appliances market for smart kettle, 2017 - 2024 (USD Billion)
      • 5.3.5. Smart Dish Washers
        • 5.3.5.1. Global smart appliances market for smart dish washers, 2017 - 2024 (USD Billion)
      • 5.3.6. Smart Oven
        • 5.3.6.1. Global smart appliances market for smart oven, 2017 - 2024 (USD Billion)
      • 5.3.7. Smart Cooker
        • 5.3.7.1. Global smart appliances market for smart cooker, 2017 - 2024 (USD Billion)
      • 5.3.8. Others
        • 5.3.8.1. Global smart appliances market for others, 2017 - 2024 (USD Billion)
  •  
  • Chapter 6. Global Smart Appliances Market- Technology Segment Analysis
    • 6.1. Global smart appliances market: technology overview
      • 6.1.1. Global smart appliances market revenue share, by technology, 2017 and 2024
    • 6.2. Wi-Fi
      • 6.2.1. Global smart appliances market for Wi-Fi, 2017 - 2024 (USD Billion)
    • 6.3. Bluetooth
      • 6.3.1. Global smart appliances market for Bluetooth, 2017 - 2024 (USD Billion)
    • 6.4. Near Field Communication
      • 6.4.1. Global smart appliances market for near filed communication, 2017 - 2024 (USD Billion)
  •  
  • Chapter 7. Global Smart Appliances Market- Regional Segment Analysis
    • 7.1. Global smart appliances market: regional overview
      • 7.1.1. Global smart appliances market revenue share, by region, 2017 and 2024
    • 7.2. North America
      • 7.2.1. North America smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
      • 7.2.2. North America smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.2.3. U.S.
        • 7.2.3.1. U.S. smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.2.3.2. U.S. smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.2.4. Canada
        • 7.2.4.1. Canada smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.2.4.2. Canada smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
    •  
    • 7.3. Europe
      • 7.3.1. Europe smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
      • 7.3.2. Europe smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.3.3. U.K.
        • 7.3.3.1. U.K. smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.3.3.2. U.K. smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.3.4. Germany
        • 7.3.4.1. Germany smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.3.4.2. Germany smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.3.5. France
        • 7.3.5.1. France smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.3.5.2. France smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.3.6. Rest of Europe
        • 7.3.6.1. Rest of Europe smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.3.6.2. Rest of Europe smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
      • 7.4.2. Asia Pacific smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.4.3. China
        • 7.4.3.1. China smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.4.3.2. China smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.4.4. Japan
        • 7.4.4.1. Japan smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.4.4.2. Japan smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.4.5. India
        • 7.4.5.1. India smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.4.5.2. India smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.4.6. Rest of Asia Pacific
        • 7.4.6.1. Rest of Asia Pacific smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.4.6.2. Rest of Asia Pacific smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
    • 7.5. Latin America
      • 7.5.1. Latin America smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
      • 7.5.2. Latin America smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.5.3. Brazil
        • 7.5.3.1. Brazil smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.5.3.2. Brazil smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.5.4. Rest of Latin America
        • 7.5.4.1. Rest of Latin America smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.5.4.2. Rest of Latin America smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
    • 7.6. Middle East and Africa
      • 7.6.1. Middle East and Africa smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
      • 7.6.2. Middle East and Africa smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.6.3. Saudi Arabia
        • 7.6.3.1. Saudi Arabia smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.6.3.2. Saudi Arabia smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.6.4. UAE
        • 7.6.4.1. UAE smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.6.4.2. UAE smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.6.5. South Africa
        • 7.6.5.1. South Africa smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.6.5.2. South Africa smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.6.6. Rest of Middle East and Africa
        • 7.6.6.1. Rest of Middle East and Africa smart appliances market revenue, by product, 2017 - 2024 (USD Billion)
        • 7.6.6.2. Rest of Middle East and Africa smart appliances market revenue, by technology, 2017 - 2024 (USD Billion)
  •  
  • Chapter 8. Company Profile
    • 8.1. Electrolux AB
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Therapy portfolio
      • 8.1.4. Business strategy
      • 8.1.5. Recent developments
    • 8.2. General Electric Co.
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Therapy portfolio
      • 8.2.4. Business strategy
      • 8.2.5. Recent developments
    • 8.3. Koninklijke Philips N.V.
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Therapy portfolio
      • 8.3.4. Business strategy
      • 8.3.5. Recent developments
    • 8.4. BSH Hausgerate GmbH
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Therapy portfolio
      • 8.4.4. Business strategy
      • 8.4.5. Recent developments
    • 8.5. LG Electronics, Inc.
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Therapy portfolio
      • 8.5.4. Business strategy
      • 8.5.5. Recent developments
    • 9.1. Miele & Cie. KG
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Therapy portfolio
      • 9.1.4. Business strategy
      • 9.1.5. Recent developments
    • 9.2. Panasonic Corp.
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Therapy portfolio
      • 9.2.4. Business strategy
      • 9.2.5. Recent developments
    • 9.3. Qingdao Haier Co. Ltd.
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Therapy portfolio
      • 9.3.4. Business strategy
      • 9.3.5. Recent developments
    • 9.4. Samsung Electronics Co. Ltd.
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Therapy portfolio
      • 9.4.4. Business strategy
      • 9.4.5. Recent developments
    • 9.5. Whirlpool Corp.
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Therapy portfolio
      • 9.5.4. Business strategy
      • 9.5.5. Recent developments

Table Of Figures

List of Figures 

1. Market research process
2. Market research methodology
3. Global smart appliances market revenue, 2017 – 2024 (USD Billion) 
4. Porter’s five forces analysis
5. Smart appliances market attractiveness analysis, by product segment
6. Smart appliances market attractiveness analysis, by technology segment
7. Smart appliances market: market attractiveness analysis, by regional segment
8. Company market share analysis, 2017 
9. Global smart appliances market revenue share by product, 2017 and 2024
10. Global smart appliances market for smart home appliances, 2017 – 2024 (USD Billion)
11. Global smart appliances market for smart kitchen appliances, 2017 – 2024 (USD Billion)
12. Global smart appliances market revenue share by technology, 2017 and 2024
13. Global smart appliances market for Wi-Fi, 2017 – 2024 (USD Billion)
14. Global smart appliances market for Bluetooth, 2017 – 2024 (USD Billion)
15. Global smart appliances market for NFC, 2017 – 2024 (USD Billion)
16. Global smart appliances market revenue share by regions, 2017 and 2024
17. North America smart appliances market, 2017 – 2024, (USD Billion)
18. Europe smart appliances market, 2017 – 2024, (USD Billion)
19. Asia Pacific smart appliances market, 2017 – 2024, (USD Billion)
20. Latin America smart appliances market, 2017 – 2024, (USD Billion)
21. The Middle East and Africa smart appliances market, 2017 – 2024, (USD Billion)


Table Of Tables

List of Tables

1. Smart appliances market: market snapshot                                                           
2. Drivers of global smart appliances market: impact analysis 
3. Restraints of global smart appliances market: impact analysis  
4. North America smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
5. North America smart appliances market revenue, by technology, 2017 – 2024 (USD Billion)
6. U.S. smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
7. U.S. smart appliances market revenue, by technology, 2017 – 2024 (USD Billion)
8. Canada smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
9. Canada smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
10. Europe smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
11. Europe smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
12. U.K. smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
13. U.K. smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
14. Germany smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
15. Germany smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
16. France smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
17. France smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
18. Rest of Europe smart appliances market revenue, by product, 2017 – 2024 (USD Billion) 
19. Rest of Europe smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
20. Asia Pacific smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
21. Asia Pacific smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
22. China smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
23. China smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
24. Japan smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
25. Japan smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
26. India smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
27. India smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
28. Rest of Asia Pacific smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
29. Rest of Asia Pacific smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
30. Latin America smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
31. Latin America smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
32. Brazil smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
33. Brazil smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
34. Rest of Latin America smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
35. Rest of Latin America smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
36. Middle East and Africa smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
37. Middle East and Africa smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
38. Saudi Arabia smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
39. Saudi Arabia smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
40. UAE smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
41. UAE smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
42. South Africa smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
43. South Africa smart appliances market revenue, by technology, 2017 – 2024 (USD Billion
44. Rest of Middle East and Africa smart appliances market revenue, by product, 2017 – 2024 (USD Billion)
45. Rest of the Middle East and Africa smart appliances market revenue, by technology, 2017 – 2024 (USD Billion

Methodology

Free Analysis

Smart appliances are the type of next-generation connected equipment that is designed in such a way which can be controlled with the command from the central system as well as it communicates to other appliances in the network. These connected devices allow the user to manage the appliances of home and kitchen from any place of the house, with the help of a mobile, computing devices, or some kind of network which connects the user to these devices.

According to the U.S. Energy Information Administration, the global energy demand will increase to nearly 38% by 2040. Increasing use of appliances in homes and kitchens has led to higher consumption of energy, thus, challenging the power companies to produce more amount of electricity. In such circumstances, acceptance of smart appliances increases, since they provide real-time communication so as to operate the device in lower frequencies or by shifting the operation time to off-peak periods. Thereby, smart appliances are offering innovative control features to service providers as well as consumers with enhanced security, efficiency, and convenience.

Based on the product, smart appliances market is segmented into smart home appliances and smart kitchen appliances. Smart home appliances are further categorized into smart washer; smart dryer; smart air conditioner; smart lighting devices; smart vacuum cleaners; smart security devices; and smart water heaters and smart kitchen appliances are further fragmented into smart refrigerators; smart coffee maker; smart kettle; smart dishwashers; smart oven; smart cooker; and others. Based on technology, the smart appliances market is segmented Wi-Fi, Bluetooth, and NFC.

Global Smart Appliances Market

North America is projected to hold a major share in the smart appliances market. This is attributed to the changing preferences of consumers and the growing number of smart grid projects together with the subsequent rise in the purchasing power of the consumers. Additionally, increasing government initiatives to adopt energy-efficient devices is another key factor driving the industry growth over the forecast period, due to changing lifestyles of people along with increasing awareness pertaining to the benefits of these devices. The Asia Pacific is also anticipated to grow at a considerable CAGR over the forecast period.

Some of the key players in smart appliances market include as Electrolux AB, General Electric Co., Koninklijke Philips N.V., BSH Hausgerate GmbH, LG Electronics, Inc., Miele & Cie. KG, Panasonic Corp., Qingdao Haier Co. Ltd., Samsung Electronics Co. Ltd., and Whirlpool Corp.

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FrequentlyAsked Questions

High preference for premium bikes to drive market growth and technological advancements in the Work-from-Home culture and the requirement to automate chores, the introduction of new technologies, and access to the internet are expected to influence the smart appliance market

According to the report by Zion Market Research, the size of the global smart appliances market is expected to grow at a rate (CAGR) of 17.85%, growing from USD 33.46 billion in 2021 to attain a value of USD 77.14 billion in 2028.

North America is likely to govern the global smart appliances market during the forecast period. The United States and Canada, out of all the areas, are seen to have growing adoption rate of IoT devices and achieving the position of leading countries in the region.

Samsung Electronics, Haier Smart Home,  LG Electronics, BSH Hausgerate, Panasonic, Electrolux, Koninklijke Philips, Xiaomi, Whirlpool, and Miele & Cie. KG are among the global smart appliances market's major players.

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