Smart Home Appliances Industry Size, Players, Key Regions and Global Demand
Global smart home appliances market is anticipated to witness an exponential growth in the
forecast period. Smart home appliances provide connectivity via diverse
interactive wireless procedures such as Wi-Fi, Bluetooth, and NFC. They are
mostly connected through microcontrollers. The factors that propel the growth
of the market include increasing acceptance of IoT and rising demand for smart
homes, improving the lifestyle of people, technological advancements,
development in electronics and communication technologies, and increasing
buying power.
On the other hand, there
are factors that may hamper the growth of the market including the high cost of
appliances and lack of consciousness regarding the use of sophisticated
appliances and technologies. Smart home appliances market is anticipated to
expand at a significant CAGR of 50.24% in the upcoming period as the scope,
product types, and its applications are increasing across the globe.
The market could be
explored by product type, technology, application and geography. The market
could be explored by product type as Refrigerator, Washing machine, Air
conditioner, and Dishwasher. The “Refrigerator” segment led the smart home
appliances market in 2017 and will continue to lead in the forecast period. The
key factors that may be attributed to the growth of market includes increased
innovation in terms of technology and high usage in homes.
Get Sample Copy of this Report @
Based on technology, the market could span Radio
Frequency Identification (RFID), Wi-Fi, ZigBee, Bluetooth, Cellular Technology,
Z Wave, EnOcean, HomeRF, and Insteon. The “Wi-Fi” segment led the market in
2017 and will continue to lead in the forecast period. The key factors that may
be attributed to the growth of market includes an effective technology to work
a large number of home appliances from isolated locations. The key applications
that could be explored in the smart home appliances market include Commercial
and Residential.
North America accounted for the major share of the smart
home appliances market in 2017 and will continue to lead in the forecast
period. The factors that could be attributed to the growth include strong
research and development in the field, high presence of a large number of
industrial companies, penetration of Internet of Things and others. North
America is followed by Asia-Pacific region owing to increasing consciousness
among individual, growth of technology in the region, and rising demand of
smart home appliances, rising disposable income has led to change lifestyle
among individuals.
Some of the key players that fuel the growth of the smart
home appliances market comprise Panasonic Corporation, General Electric
Company, LG Electronics, Inc., Electrolux AB, Koninklijke Philips N.V., Samsung
Electronics Co., Ltd., Haier Electronics Group Co., Ltd., Apple, Inc., BSH
Hausgerate GmbH, Whirlpool Corporation, and Miele & Cie. KG. The leading
companies are taking up partnerships, mergers and acquisitions, and joint
ventures in order to boost the inorganic growth of the industry.
Browse Related Category Market
Reports @
Comments
Post a Comment