Increasing expansion of wireless connectivity across the world is a key factor behind the revenue growth of smart home appliance market
The global smart devices market size was US$32.76 billion in 2021 and is expected to register a revenue CAGR of 17.4% during the forecast period according to the latest analysis by Emergen Research. Increasing expansion of wireless connectivity across the world is a key factor behind the revenue growth of the market.
Wireless connectivity is becoming more and more popular among home and business users, so controlling home systems with mobile phones via Wi-Fi plays a significant role. Wireless solutions allow users to monitor and control smart home devices from anywhere at any time, saving both money and time while reducing energy consumption. In addition, even when they are not on site, users can monitor the operation of these devices on their tablets or smartphones. Wireless connectivity is also very useful for diagnosing problems, communicating between devices, and monitoring energy.
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The report also introduces established and emerging players of the market, covering the business overview, product portfolio, strategic alliances and business expansion strategies.
Some big companies in the global market report include LG Electronics, Samsung Electronics, Electrolux, Panasonic Corporation, Haier Group Corporation, Koninklijke Philips NV, Xiaomi, BSH Hausgeräte GmbH, Miele and Whirlpool Corporation.
Highlights from the report
- The smart washing machine segment accounted for the largest revenue share in 2021 owing to the increasing demand for smart washing machines among users. Smart washing machines can be connected to home Wi-Fi networks, which are user-friendly and easy to operate, making them popular with customers. In January 2021, LG launched LG ThinQ washing machines in India, which feature an artificially intelligent Direct Drive (AI DD) motor.
- The online segment is expected to register a significantly fast revenue growth rate during the forecast period owing to the increasing preference for online purchasing behavior of customers in recent years. It is becoming easier for manufacturers to reach a wider range of potential customers via the Internet at low cost. This prompts manufacturers to develop their websites and enter into agreements with major e-commerce companies to increase online sales. Additionally, the increasing adoption of digital platforms during the COVID-19 pandemic is driving the growth of the online segment.
- The Asia Pacific market is expected to witness a significantly rapid revenue growth rate during the forecast period. This is due to the increasing adoption of smart homes and increasing adoption of IoT technologies in countries across the region, particularly China, Japan and India.
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The report examines the historical data of the Smart Appliances market and offers valuable information about the main segments and sub-segments, revenue generation, demand and supply scenario, trends, and other important aspects.
Emergen Research has segmented the global smart home appliances market based on product, distribution channel, technology, end-use and region:
- Product Outlook (Revenue, $Bn; 2019-2030)
- Smart fridges
- Intelligent air conditioners
- Smart microwave ovens
- Intelligent dishwashers
- Smart washers and dryers
- Smart water heater
- Intelligent coffee machines
- Smart Ovens
- Smart vacuum cleaner
- Other
- Distribution Channel Outlook (Revenue, $Bn; 2019-2030)
- Technology Outlook (Revenue, $Bn; 2019-2030)
- Wireless Internet access
- Bluetooth
- Near Field Communication (NFC)
- zigbee
- Other
- End Use Outlook (Revenue, $Bn; 2019-2030)
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The full regional analysis includes:
North America (USA, Canada, Mexico
Europe (UK, Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
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Key Points in the Smart Appliances Market:
Comprehensive coverage of analysis of the Smart Appliances market
Key insights into the regional spread of the industry in key geographies
Radical insights into key market trends; both current and emerging trends and factors affecting the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Smart Appliances market
Complete data on the major manufacturers and vendors in the Smart Appliances market
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About us:
At Emergen Research we believe in technological advances. We are a growing market research and strategy consulting firm with a deep knowledge base of innovative and potentially disruptive technologies that are expected to become more widespread over the next decade.
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