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The global smart home appliances industry has witnessed significant growth owing primarily to rising smartphone demand and increased internet penetration. The convenience of monitoring smart appliances through smartphones or tablets attracts users to adopt smart appliances. The rise in wireless solutions' availability is also expected to boost the smart appliances market in the coming years considerably. North America and Asia Pacific smart home appliances markets are significantly supporting the growth of the global market. The largest consumer markets within the Asia Pacific region include India and China due to the increasing internet penetration and technology advancements in these developing economies. The main factors that drive the demand for smart appliances market in the regions are the adoption of cloud technologies, increase in awareness related to safety and security, disposable income of the people living therein, and increasing government investment in smart cities. Indirect sales channels hold a major share of the smart appliances market. It includes the sale of smart appliances through both online and offline modes.
The rising technological revolution towards developing the smart homes market creates a higher demand for connected appliances as a source of luxury and convenience. For instance, in January 2018, Whirlpool Corporation (NYSE: WHR) launched the Whirlpool Smart All-In-One Care Washer and Dryer, which is a compact washer and dryer combo designed to occupy less floor space. Voice or a mobile device can be used to control the appliance. These technological advancements and product innovations are helping the companies in increasing their market presence by securing new contracts and tapping new markets.
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The major players in the global smart home appliances industry include LG Electronics Inc., AB ELECTROLUX, Whirlpool Corporation, Samsung Electronics Co., Ltd., BSH Hausgeräte GmbH, and Panasonic Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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