The global smart home appliances market size is expected to grow rapidly due to automation enhancements and lifestyle advancements. Furthermore, rapid investments in smart appliances by several households is expected to enhance market growth. Fortune Business Insights™ provides this information in its report titled “Smart Home Appliances Market, 2023-2030.”
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Fortune Business Insights™ lists out all the smart home appliances market companies that are presently striving to reduce the impact of the Covid-19 pandemic on the market:
- Haier Group Corporation (Qingdao, China)
- Electrolux (Stockholm, Sweden)
- Samsung Group (Suwon-si, South Korea)
- G. Electronics, Inc. (Seoul, South Korea)
- Whirlpool Corporation (Michigan, U.S.)
- Fujitsu General Limited (Japan)
- Dacor (California, U.S.)
- Voltas Limited (Mumbai, India)
- Panasonic Corporation (Osaka, Japan)
- Robert Bosch GmbH (Gerlingen, Germany)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Driving Factors
Increasing Smart Homes to Enhance Market Growth
Smart home appliances consist of washing machines, dishwashers, smart cameras, locks, refrigerators, and others. These appliances save time and enhance the comfort of consumers. Rising smart homes are likely to enhance the adoption of smart home appliances. Furthermore, the increasing demand for technologically advanced products are likely to enhance the demand for the product. Moreover, the robust demand for premium electronics such as smart speakers, air conditioners, refrigerators, and dryers/washers is expected to enhance the smart home appliances adoption. In addition, rising development of smart and green buildings is expected to boost appliance sales. These factors may drive the smart home appliances market growth.
However, high cost associated with smart devices may hinder the industry’s growth.
Regional Insights
Rising Internet Penetration to Propel Market Progress in North America
North America is expected to dominate the smart home appliances market share because of rising internet penetration and technological advancements. Furthermore, improvements in wireless communication technologies and novel product developments may bolster the demand for the product. These factors are likely to foster the market’s growth in the region.
In Europe, the rising adoption of smart appliances and strong demand for energy-efficient products is expected to enhance smart home appliance adoption. In addition, the demand for smart security solutions is expected to enhance smart home appliance adoption. These factors may influence industry growth.
In Asia Pacific, rising per-capita income and evolving lifestyles are expected to enhance the product’s sales. Furthermore, the rapid development of 5G infrastructure and increasing digitization may bolster industry growth.
Segmentation
By product type, the market is segmented into washing machine, air conditioners (A.C.s), refrigerator, dishwashers, and other smart appliances. As per technology, it is classified into Wi-Fi, Bluetooth, cellular technology, and radio frequency identification (RFID). Based on distributional channel, it is bifurcated into offline and online. Geographically, it is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Smart Home Appliances Market Size Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Smart Home Appliances market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Smart Home Appliances market
The Global Smart Home Appliances Market Research/Analysis Report Contains Answers to your following questions:
- Which Manufacturing Technology is used for Smart Home Appliances ? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Smart Home Appliances Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Smart Home Appliances Market? What Was Capacity, Production Value, Cost and PROFIT of Smart Home Appliances Market?
- What Is Current Market Status of Smart Home Appliances Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Smart Home Appliances Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Smart Home Appliances Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Smart Home Appliances Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Smart Home Appliances Industry? What are Global Smart Home Appliances Analysis Results? What Are Global Smart Home Appliances Development Trends?
- What Are Market Dynamics of Smart Home Appliances Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Smart Home Appliances Industry?
Competitive Landscape
Players Enter Collaborations to Enhance Brand Image
The prominent companies operating in the market enter collaborations to enhance their brand image. For example, Apple, Google, Amazon, and Zigbee Alliance collaborated with smart appliance companies for the development and promotion of compatible smart home products in December 2019. This development may allow companies to enhance their brand image. Furthermore, companies adopt expansions, partnerships, acquisitions, mergers, and novel product launches to enhance their market position.
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