Global Smart Home Appliances Market, By Product (Refrigerator, Dishwasher, Washing Machine, and Air Conditioner) - Forecast 2023
In this rapidly changing world of technology, smart home appliances market is projected to show major growth prospects during the forecast period. Changing consumer preferences and increasing demand for innovations are the major factors driving the growth of smart home appliances market.
As compared to other regions, the smart home appliances market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of smart home appliances market.
Increasing government initiatives for the adoption of energy efficient devices is another factor contributing to the growth of smart home appliances market.
The smart home appliances market is growing rapidly over 23% of CAGR and is expected to reach at approx. USD 33 Billion by the end of forecast period.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Smart Home Appliances Market - Forecast to 2023”.
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)
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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.
Market Research Analysis:
The global smart home appliances market, by geography, has been segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South America. In the global smart home appliances market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions.
Within Asia Pacific, smart home appliances market is projected to contribute faster to the growth of revenue backed by increasing demand for innovative products and growing demand for smart homes in countries such as Japan, China and India.
Across Europe, countries including Germany, France and the U.K. are anticipated to drive the growth of smart home appliances market.
In Europe, the high standards of living of people have led to an increase in investments in smart homes and hence is the major driving factor for the growth of smart home appliances market. The presence of advanced infrastructure and with the increasing adoption of technology and technological advancements in numerous countries are other factors driving the market growth of smart home appliances market.
Smart Home Appliances Market (MRFR) Research Analysis:
Smart home appliances market in the South America region is anticipated to witness relatively slower market growth. However, Brazil and Argentina among other countries are projected to witness slow yet steady growth.
Smart home appliances market in Middle East and Africa occupies a relatively smaller pie of the global Smart home appliances market.
Smart home appliances market can be segmented on the basis of product and technology. The product segment comprises of refrigerators, air conditioners, dish washer and washing machines.
The refrigerator segment, being the most commonly used, has dominated the market share of smart home appliances market. Whereas, the washing machines segment is expected to generate the highest revenue in the smart home appliances market.
Reduction in energy consumption is the major driving factor in the growth of smart home appliances market.
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.
- Technology investors
- Research/Consultancy firms
- Technology providers
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Table of Contents
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
List of Tables
Table 1 Smart Home Appliances Market, By Product
Table 2 Smart Home Appliances Market, By Technology
Table 3 Smart Home Appliances Market, By Regions
List of Figures
Figure 1 Research Type
Figure 2 Smart Home Appliances Market, By Product (%)
Figure 3 Smart Home Appliances Market, By Technology (%)
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