Global Smart Home Appliances Market 2024-2028
The smart home appliances market is forecasted to grow by USD 75.8 bn during 2023-2028, accelerating at a CAGR of 21.08% during the forecast period. The report on the smart home appliances market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by product innovation in terms of technology, performance, features, and design, periodic revisions in energy efficiency standards, and growing adoption of wireless connecting devices and IoT.
Technavio's smart home appliances market is segmented as below:
ByProduct
- Smart washing machines and dryers
- Smart air conditioners
- Smart refrigerators
- Smart microwave ovens
- Smart dishwashers
ByDistribution Channel
ByGeography
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the introduction of additional features in smart home appliances as one of the prime reasons driving the smart home appliances market growth during the next few years. Also, partnerships with other companies growing smartphone penetration, and increasing internet speed will lead to sizable demand in the market.
The report on the smart home appliances market covers the following areas:
- Smart home appliances market sizing
- Smart home appliances market forecast
- Smart home appliances market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart home appliances market vendors that include Electrolux AB, Apple Inc., BSH Hausgerate GmbH, General Electric Co., Godrej Appliances, Haier Smart Home Co. Ltd., Koninklijke Philips N.V., LG Electronics Inc., MIDEA Group Co. Ltd., Miele and Cie. KG, Mitsubishi Electric Corp., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., Videocon Industries Ltd., Whirlpool Corp., and Xiaomi Communications Co. Ltd. Also, the smart home appliances market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.