Smart Home Appliances Market Size, Share & Trends Analysis Report By Distribution Channel (Online, Offline), By Product (Smart Washing Machines, Smart Air Purifiers), By Region (APAC, Europe), And Segment Forecasts, 2022 - 2030

Smart Home Appliances Market Size, Share & Trends Analysis Report By Distribution Channel (Online, Offline), By Product (Smart Washing Machines, Smart Air Purifiers), By Region (APAC, Europe), And Segment Forecasts, 2022 - 2030

Smart Home Appliances Market Growth & Trends

The global smart home appliances market size is expected to reach USD 64.69 billion by 2030, registering a CAGR of 8.6%

during the forecast period, according to a new report by Grand View Research, Inc. The market growth is largely driven by

factors such as growing penetration of smart homes across the globe, rapid developments & advancements in the IT

infrastructure, changing demographic preferences, and the need to safeguard the global environment from polluting effluents,

such as Greenhouse Gasses (GHG) and toxic wastes. Brands are offering a wide range of products keeping in mind the millennial

and Gen-Z population, resulting in a plethora of opportunities in the industry.

From using premium smart lights to advanced AI faucets, the trend bodes well for the future of the market. Technological

innovations incorporated into homes have been key demand driving factors for this industry. Home appliance brands are making

it easier to recreate a customized experience at home by offering luxury tech-driven appliances that are designed to multi-

task with automation and are AI-driven. For instance, Electrolux AB has an ongoing extensive modularization program that

lowers product development and production costs. Nearly 65% of the company’s home appliances are manufactured at a low cost.

Smart washing machines emerged as the largest segment in 2021 and this segment is expected to be dominant during the forecast

period.

The smart air purifiers segment is expected to register the fastest CAGR from 2022 to 2030. Increased attention to the

hygiene factor across the globe, especially because of the COVID-19 pandemic, is fueling the growth of the smart air

purifiers segment. According to the World Health Organization (WHO), 9 out of 10 people breathe contaminated air containing a

high level of pollutants. It states that outdoor and indoor air pollution leads to around 7 million premature deaths every

year, out of which 3.8 million people die because of exposure to indoor air pollution. The industry is characterized by the

presence of several well-established players that account for considerable market shares and have a strong presence across

the globe. The industry also consists of small- to mid-sized players that offer a selected range of products and mostly serve

regional customers.

Smart Home Appliances Market Report Highlights

• The growing penetration of smart homes across the globe is driving the demand for various smart home appliances
• North America was the largest regional market in 2021 due to the high number of renovation activities and

reconstruction of old commercial as well as residential infrastructure spaces

• The Asia Pacific region is expected to register a healthy CAGR from 2022 to 2030 due to increasing disposable income

levels and high product demand

• The smart air purifiers product category is expected to grow at the fastest CAGR from 2022 to 2030. The increasing

consciousness about health and adoption of advanced technologies will fuel the demand for air purifiers in the coming years

• The growing popularity of online shopping and smart & connected devices among millennials as well as the young

population will boost the product sale through the online distribution channelPlease note The report will be delivered in 2-3 business days upon order notification.