Global Smart Home Appliances Market
The GMI Research forecasts that the Smart Home Appliances Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the rising home improvement projects and Increasing spending on home remodeling.
Introduction of the Smart Home Appliances Market:
Smart appliances are devices that can communicate with tablets or smartphones that permit users to control these appliances remotely. These devices help communicate with the smart grid, responding to utility signals that offer consumers reminders to use these appliances during off-peak periods. These devices include a wide variety of smart devices implemented in the home that are connected by a network, mostly via a home network or the internet.
Key Players of the Global Smart Home Appliances Market:
- SAMSUNG
- LG Electronics
- Panasonic Inc.
- Haier Group
- AB Electrolux
- Whirlpool
- BSH Hausgeräte GmbH
- Breville USA Inc
Smart Home Appliances Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The smart home appliance market is forecasted to observe substantial growth during the forecast period. Several prominent drivers responsible for the market expansion include the augmenting purchasing power of individuals led by the mounting disposable income and modernizations in electronics and communication technology. In accordance with the report published by the Organization for Economic Co-operation and Development (OECD), the worldwide electricity consumption accounted to be 10,533,117 GW-H, in 2016 and has shown an upward trend each year since 1974. The world is urgently needed to reduce the energy consumption and the usage of fuels and administer the power usage by each appliance employed in the household. In addition, the growing penetration of smart homes, especially in the developing and developed regions, swift advancements and modernization in the IT infrastructure and wireless technology, along with the integration of the Internet of Things in these appliances, are some other factors stimulating the smart home appliance market share. Enormous major market players focus on enhancing food recognition and expanding the same into their kitchen applications, such as full-size ovens and fridges. Leading companies which include Bosch, GE, Samsung, and other players, have introduced various concepts such as a fridge that labels and tracks food items, remotely supervises the stovetop, and incorporates AI into applications for recommendations.
Furthermore, the role of the kitchen has drastically transformed over the past decades and is now associated with various activities, including socializing, dining, entertaining, and working. However, the sudden and widespread outbreak of the coronavirus pandemic has adversely influenced the Chinese market. This is mainly due to the temporary halt of the production of smart home appliances and the raw materials used. Nevertheless, the market is contemplated to recover in 2021 while expanding at a significant rate.
Smart Home Appliances Market Segmentation:
Segmentation by Product Type
- Smart Ovens
- Smart Dishwashers
- Smart Refrigerators
- Smart Cookware and Cooktops
- Smart Scale and Thermometers
- Other Product Types
Segmentation by Connectivity
- Wi-Fi
- ZigBee
- EnOcean
- Bluetooth
- RFID
- NFC
- Others
Segmentation by Appliance
- Home Appliances
- Kitchen Appliances
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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