The Smart Home Appliances Market size is estimated at USD 34.98 billion in 2024, and is expected to reach USD 53.61 billion by 2029, growing at a CAGR of 8.91% during the forecast period (2024-2029).
The internet of things has expanded across smart home applications, and it is anticipated to become more configurable to provide users more control and improve how the appliances operate. Consumer Technology Association predicts that by 2022, connected home goods will bring in $5.94 billion in revenue in the United States.
The market for smart home appliances is saturated. Mid-size and smaller businesses are expanding their market presence by gaining new contracts and tapping new markets due to technological improvements and product innovations. The following are a few significant market developments:
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