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Global Smart Home Appliances Market: By Product Type: Smart Ovens, Smart Dishwashers, Smart Refrigerators, Smart Cookware and Cooktops, Smart Scale and Thermometers, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Smart Home Appliances Market Outlook

The global smart home appliances market reached a value of about USD 28.2 billion in 2020. The industry is further expected to grow at a CAGR of about 17.3% in the forecast period of 2021-2026 to reach a value of around USD 73.6 billion by 2026.

 

North America and the Asia Pacific to Significantly Aid the Smart Home Appliances Industry

The North America and the Asia Pacific regions are significantly supporting the growth of the global market for smart home appliances. Some of 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 are driving the demand within the smart appliances industry in the Asia Pacific are the adoption of cloud technologies, increase in awareness related to safety and security, rising standards of living and disposable incomes of the people living therein, increasing government investments in smart cities, continuous expansion of high-speed Internet in the regions, and access to these systems in the region.

 

Global Smart Home Appliances Market

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The rising investments in smart grid projects and the acceptance of the products by the consumers are driving the market's significant expansion within the North America region. Smart homes have gained prominence in North America, which has further driven the revenues in the smart home appliances industry in the region. Apart from the Asia Pacific and North America, Europe is also registering a robust consumption of smart home appliances and is likely to be among the leading regions in the coming years.

 

Impact of COVID-19 on the Global Market for Smart Home Appliances

The COVID-19 pandemic had both positive and negative impact on the market for smart appliances. Because of the COVID-19 pandemic, the demand for smart appliances such as refrigerators, washing machines, and other similar items witnessed an increase. As consumers worked from home and spent  more time at home necessitates, they adopted appliances that can complete these tasks quickly compared to traditional methods. However, due to the COVID-19 pandemic, the manufacturing capabilities of all the regions were negatively affected due to halted production amidst lockdown restrictions leading to the supply of the products from manufacturers to end-users being decreased dramatically. This adversely impacted the market growth during the pandemic.

 

Smart Home Appliances: Industry Definition and Segmentation

Smart home appliances are devices installed in a smart home and work with home automation technology that uses electric power transmission with short radio frequency signals. They make use of open-source and proprietary software and distributed denial-of-service attacks (DDoS). Smart home appliances have a wide range of uses in the home. The main goal of the appliances is to increase customer comfort and improve user experience in the residential sector.

By product type, the market can be divided into:

  • Smart Ovens
  • Smart Dishwashers
  • Smart Refrigerators
  • Smart Cookware and Cooktops
  • Smart Scale and Thermometers
  • Others

The regional markets for smart home appliances can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Demand for Smart Phones and Increase in Internet Penetration Boosting the Market Growth

The smart appliance industry has been witnessing a significant growth since the historical period owing primarily to the rising smartphone demand and increased internet penetration. Users are drawn to smart appliances because of the ease with which they can monitor them using their smartphones or tablets. The rising adoption of the appliances has also been driven by the significant benefit of connecting all the home appliances to the internet through a single interface.

The growing popularity of home improvement projects in Western countries is paving the way for various smart products for residential use. In the coming years, the growth of the smart appliances industry is expected to be significantly driven by the increasing consumer preference for video doorbells, voice-assisted technologies (such as Alexa and Google Home), and surveillance systems. In addition, smart home appliances are changing as a result of IoT advancements. IoT will allow various appliances, such as lighting, home appliances, computers, and security cameras, to communicate, which is further projected to propel the growth of the market.

With most businesses shifting their traditional practices toward IoT, it is expected to reach numerous application areas such as lighting, healthcare, security, and entertainment. The rise in wireless solutions' availability is, thus, expected to boost the smart home appliances industry growth in the coming years considerably. Home appliances such as refrigerators, washing machines, and other appliances that can be controlled using a smart device while also incorporating smart systems are expected to be the key applications of smart home appliances that are anticipated to see a significant growth.

 

Key Industry Players in the Global Smart Home Appliances Market

The report gives a detailed analysis of the following key players in the global smart home appliances market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • LG Electronics Inc.
  • AB ELECTROLUX
  • Whirlpool Corporation
  • Samsung Electronics Co., Ltd.
  • BSH Hausgeräte GmbH
  • Panasonic Corporation
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Region
Breakup by Product Type Smart Ovens, Smart Dishwashers, Smart Refrigerators, Smart Cookware and Cooktops, Smart Scale and Thermometers, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered LG Electronics Inc., AB ELECTROLUX, Whirlpool Corporation, Samsung Electronics Co., Ltd., BSH Hausgeräte GmbH, Panasonic Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Smart Home Appliances Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Smart Home Appliances Historical Market (2016-2020) 
    8.3    Global Smart Home Appliances Market Forecast (2021-2026)
    8.4    Global Smart Home Appliances Market by Product Type
        8.4.1    Smart Ovens
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Smart Dishwashers
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Smart Refrigerators
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Smart Cookware and Cooktops
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Smart Scale and Thermometers
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2016-2020)
            8.4.5.3    Forecast Trend (2021-2026)
        8.4.6    Others
    8.5    Global Smart Home Appliances Market by Region
        8.5.1    Market Share
            8.5.1.1    North America
            8.5.1.2    Europe
            8.5.1.3    Asia Pacific
            8.5.1.4    Latin America
            8.5.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    LG Electronics Inc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    AB ELECTROLUX
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Whirlpool Corporation
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Samsung Electronics Co., Ltd.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    BSH Hausgeräte GmbH
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Panasonic Corporation
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments

 

List of Figures and Tables

1.    Global Smart Home Appliances Market: Key Industry Highlights, 2016 and 2026
2.    Global Smart Home Appliances Historical Market: Breakup by Product Type (USD Billion), 2016-2020
3.    Global Smart Home Appliances Market Forecast: Breakup by Product Type (USD Billion), 2021-2026
4.    Global Smart Home Appliances Historical Market: Breakup by Region (USD Billion), 2016-2020
5.    Global Smart Home Appliances Market Forecast: Breakup by Region (USD Billion), 2021-2026
6.    North America Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2016-2020
7.    North America Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2021-2026
8.    Europe Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2016-2020
9.    Europe Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2021-2026
10.    Asia Pacific Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    Asia Pacific Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Latin America Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Latin America Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Middle East and Africa Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Middle East and Africa Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Global Smart Home Appliances Market Structure

Key Questions Answered in the Report

In 2020, the global smart home appliances market attained a value of nearly USD 28.2 billion.

The market is projected to grow at a CAGR of 17.3% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 73.6 billion by 2026.

The major drivers of the market include the incorporation of IoT, increasing consumer preference for video doorbells, voice-assisted technologies, surveillance systems, home remodelling, rise in the availability of wireless solutions, and the rising standard of living and disposable income of the people.

Rising demand for smartphones, increase in internet penetration, and government investments in smart cities are the key industry trends propelling the market growth.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading product type includes smart ovens, smart dishwashers, smart refrigerators, smart cookware and cooktops, and smart scale and thermometers, among others.

The major players in the industry are LG Electronics Inc., AB ELECTROLUX, Whirlpool Corporation, Samsung Electronics Co., Ltd., BSH Hausgeräte GmbH, and Panasonic Corporation, among others.

Analyst Review

The global smart home appliances market attained a value of nearly USD 28.2 billion in 2020, driven by the rising demand for smartphones and the increased internet penetration. Aided by the increasing consumer preference for video doorbells, voice-assisted technologies, surveillance systems, home remodelling, and rise in the availability of wireless solutions, the market is expected to witness further growth in the forecast period of 2021-2026, growing at a CAGR of 17.3% to reach a value of about USD 73.6 billion by 2026.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product types, the smart home appliances industry can be segmented into smart ovens, smart dishwashers, smart refrigerators, smart cookware and cooktops, and smart scale and thermometers, among others. The major regional markets for smart home appliances are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include LG Electronics Inc., AB ELECTROLUX, Whirlpool Corporation, Samsung Electronics Co., Ltd., BSH Hausgeräte GmbH, and Panasonic Corporation, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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