Smart Home Appliances Market to Surpass at a Revenue of US$ 154.45 Billion By 2031
๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/request-sample/smart-home-appliances-market
Due to rising smartphone demand and improved internet penetration, the smart home appliances market has experienced significant growth in recent years. The market will benefit greatly from the expanded availability of wireless solutions. For instance, in order to improve the user experience of a new generation of smart home appliances, LG Electronics has licensed and deployed the CEVA-XM4 intelligent vision DSP in its Edge AI system-on-chip (SoC) "LG8111," according to a recent announcement from CEVA, the leading licensor of wireless connectivity and smart sensing technologies and co-creation solutions.
Home remodeling projects are on the rise, smart homes are becoming more prevalent, and IT and wireless communication are developing quickly. These are some of the causes that are driving product demand. Different smart solutions for residential applications are being made possible by the growing number of home remodeling initiatives in Western nations. Due to the rising costs of housing and mortgages, there is an increase in expenditure on house remodeling and improvement projects. For instance, a report from Harvard's Joint Center for Housing Studies found that Americans spent a record US$ 567 billion on house improvements last year as owners avoided moving because of rising mortgage rates and housing prices.
Homes are using more appliances, which uses more energy and makes it harder for power suppliers to generate additional electricity. The U.S. Energy Information Administration projects that by 2035, the world's energy demand will have increased by almost 37%. Smart home appliances would become more popular in such a scenario as they enable real-time communication to operate the item at low frequencies or change the operations time to off-peak periods. As a result, smart home appliances give both consumers and service providers cutting-edge control functions as well as greater comfort, security, and efficiency.
๐๐ฆ๐๐ซ๐ญ ๐๐จ๐ฎ๐ฌ๐๐ก๐จ๐ฅ๐ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐ง๐๐๐ฌ ๐๐ญ๐ญ๐๐ข๐ง๐๐ ๐๐.๐๐% ๐จ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐
In 2022, smart household appliances captured around 43.85% of the market revenue share. In addition, the segment smart washer and dryer segment dominated the global market. Smart homes are becoming more prevalent, smart networks are being used more widely, the infrastructure for research and development has improved, and product availability has improved. Bluetooth, NFC, or Wi-Fi connectivity makes smart washing machines possible to remotely manage. Governments are promoting the use of smart washing machines that are both energy-efficient and compatible with smart grid technology. The launch of new products by major companies in the smart home appliance category will further fuel market expansion.
๐๐จ๐ง๐ฌ๐ฎ๐ฆ๐๐ซ๐ฌ ๐๐ซ๐๐๐๐ซ ๐๐๐๐ฅ๐ข๐ง๐ ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐๐ก๐๐ง๐ง๐๐ฅ๐ฌ ๐๐จ๐ซ ๐๐ฆ๐๐ซ๐ญ ๐๐จ๐ฆ๐ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐ง๐๐๐ฌ
The offline sector held a significant market share of 79.73% in 2022 and is anticipated to continue to lead during the projected period. Due to its capacity to give clients a hands-on experience to assess the quality and specifications of products, the offline distribution channel in the market for smart home appliances is becoming popular. Traditional brick-and-mortar stores have been essential in helping brands provide their clients with distinctive purchasing experiences that promote trust and customer happiness. Additionally, if a specialist or associate is on hand in-store, brands can give customers real product demos. This aids customers in learning more about the good and selecting it wisely.
๐๐๐ฃ๐จ๐ซ ๐๐๐ฅ๐๐ฌ ๐จ๐ ๐๐ฆ๐๐ซ๐ญ ๐๐จ๐ฆ๐ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐ง๐๐๐ฌ ๐๐จ๐ฆ๐๐ฌ ๐ ๐ซ๐จ๐ฆ ๐๐๐ฌ๐ข๐๐๐ง๐ญ๐ข๐๐ฅ ๐๐ง๐-๐๐ฌ๐๐ซ๐ฌ
In 2022, the residential segment generated major sales and captured a revenue share of 63.65% and is likely to attain the highest CAGR during the forecast period. The increasing need for connected, smart, and smarter homes, and home computerization frameworks, which account for a sizable part of smart homes will drive the segment growth. Significant market expansion is rising by the need to safeguard the environment from pollutants, including greenhouse gases and toxic wastes, changing societal preferences, and increasing demand for push-button control and energy efficiency.
๐๐ฌ๐ข๐ ๐๐๐๐ข๐๐ข๐ ๐๐๐ ๐ข๐จ๐ง ๐ญ๐จ ๐๐๐ง๐๐ซ๐๐ญ๐ ๐๐.๐๐% ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐ ๐จ๐ ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐ซ๐ค๐๐ญ
Asia Pacific dominated the smart home appliances market, which has the largest market share and a strong CAGR of 12.13%. The market in the region generated a revenue of US$26.31 billion in 2022 and is likely to grow by US$ 65.77 billion by 2031.
Chinese customers now have access to AI-based smart home devices like robotic vacuum cleaners and smart refrigerators because of reasons like rising disposable income, dual-income households, and changing lifestyles. China is a favorable destination for smart home appliances because it is one of the largest markets for home appliance products.
In China, the domestic appliance business has grown to become a multibillion-dollar sector. China has increased its per capita spending on high-tech consumer goods during the previous ten years. According to models from the Organization for Economic Cooperation and Development (OECD), by 2060, China and India's per-person incomes could have climbed by a factor of seven.
Japan is a major player in the market due to increased investment in connected home appliances and good penetration of smart home appliances due to high awareness.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐จ ๐๐จ๐ซ๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/industry-report/smart-home-appliances-market
According to data from Haier Smart Home, the total number of major household appliances sold at retail in Asia will surpass 425.5 million USD units. Therefore, throughout the anticipated time period, the region will have tremendous growth potential due to the increase in the overall retail sales of various smart home equipment.
๐๐จ๐ฉ ๐๐ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ญ๐จ ๐๐๐ฉ๐ญ๐ฎ๐ซ๐ ๐๐จ๐ซ๐ ๐๐ก๐๐ง ๐๐% ๐จ๐ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐
According to the estimation of Astute Analytica, the top 10 players, including AB Electrolux, Samsung Electronics, GE Appliances, Koninklijke Philips NV, General Electric Co., LG Electronics Inc., Panasonic Corp., Midea, and Robert Bosch GmbH collectively hold more than 60% of revenue share. In addition, the other major players generate about 40% of the market revenue share.
These firms dominate the market and are well-represented all over the world. They account for large market shares. Small- to mid-sized companies are also present in the market, offering a limited selection of smart home products and primarily catering to local clients. Since the majority of these well-known companies have extensive global distribution networks to reach their sizable consumer bases, their influence on the market is fairly significant.
๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
โข AB Electrolux
โข GE Appliances
โข General Electric Co.
โข Koninklijke Philips NV
โข LG Electronics Inc.
โข Robert Bosch GmbH
โข Midea
โข Mitsubishi Electric
โข Neato
โข Panasonic Corp.
โข Samsung Electronics
โข Sharp Corp.
โข Whirlpool
โข Xiaomi Corp.
โข Other Prominent Players
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ฎ๐ญ๐ฅ๐ข๐ง๐
๐๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐ฌ๐ฆ๐๐ซ๐ญ ๐ก๐จ๐ฆ๐ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐ง๐๐๐ฌ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐จ๐๐ฎ๐ฌ๐๐ฌ ๐จ๐ง ๐๐๐๐๐ซ๐ข๐ง๐ , ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ฒ๐ฉ๐, ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ, ๐๐จ๐ง๐ญ๐ซ๐จ๐ฅ ๐๐ฒ๐ฉ๐, ๐๐๐ฅ๐๐ฌ ๐๐ก๐๐ง๐ง๐๐ฅ, ๐๐ง๐-๐๐ฌ๐๐ซ, ๐๐ง๐ ๐๐๐ ๐ข๐จ๐ง.
๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐
โข Products
โข Services
o Consulting
o Installation & Integration
o Repair & maintenance
๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ฒ๐ฉ๐
โข Smart Kitchen Appliances
o Refrigerator
o Microwaves/Ovens
o Hobs/Cooktops
o Coffee Maker Machine
o Blender, Others
โข Smart Household Appliances
o Water Dispenser
o Vacuum Cleaners
o Dish Washers
o Smart Dryers
โข Smart Lighting
o Light Bulbs
o Outlets
o Switches
o Lighting Kits
โข Smart Heating and Cooling
o Heater
o Air Conditioner
o Thermostats
o Ceiling Fans
o Energy Control Systems
o Leak Detectors
โข Smart Security
o Locks
o Security System (Gates)
o Camera
o Smoke and Carbon Monoxide Detectors
โข Consumer Electronics
o Smart Sleep Systems
o Infant Monitors
o Air Care Systems
o Weather Systems
o Others
๐๐ฒ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ
โข Wired
o Powerline
o PoE
o Others
โข Wireless
o Wi-Fi
o Zigbee
o Bluetooth
o Near Field Communication (NFC)
๐๐ฒ ๐๐จ๐ง๐ญ๐ซ๐จ๐ฅ ๐๐ฒ๐ฉ๐
โข Touchpad/Touchscreen
โข Analog
โข Buttons/Knobs
โข Digital
โข Electromechanical
โข Electronic
โข Others
๐๐ฒ ๐๐๐ฅ๐๐ฌ ๐๐ก๐๐ง๐ง๐๐ฅ
โข Online
o E-commerce website
o Company Owned Website
โข Offline
o Supermarket/Hypermarket
o Specialty Stores
o Other Retail Stores
๐๐ฒ ๐๐ง๐-๐๐ฌ๐๐ซ
โข Residential
โข Commercial
โข Hospitality
โข Enterprise
โข Hospital
โข Retail
โข Others
๐๐ฒ ๐๐๐ ๐ข๐จ๐ง
โข North America
o US
o Canada
o Mexico
โข Europe
โข Western Europe
๏ง UK
๏ง Germany
๏ง France
๏ง Italy
๏ง Spain
โข Rest of Western Europe
Eastern Europe
๏ง Russia
๏ง Poland
โข Rest of Eastern Europe
Asia Pacific
โข China
โข India
โข Japan
โข Australia
โข New Zealand
โข ASEAN
โข Rest of Asia Pacific
Middle East & Africa
โข UAE
โข Saudi Arabia
โข South Africa
โข Rest of the Middle East & Africa
Latin America
โข Brazil
โข Argentina
โข Rest of Latin America
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/request-sample/smart-home-appliances-market
๐๐๐จ๐ฎ๐ญ ๐๐ฌ๐ญ๐ฎ๐ญ๐ ๐๐ง๐๐ฅ๐ฒ๐ญ๐ข๐๐:
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Aamir Beg
Astute Analytica
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