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Global Smart Home Appliances Market Size, Share, Forecast: By Product Type: Smart Ovens, Smart Dishwashers, Smart Refrigerators, Smart Cookware and Cooktops, Smart Scale and Thermometers, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Smart Home Appliances Market Outlook
The global smart home appliances market reached a value of about USD 45.51 billion in 2023. The industry is further expected to grow at a CAGR of about 17.3% in the forecast period of 2024-2032 to reach a value of around USD 191.72 billion by 2032.
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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.
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: Market 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.
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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.
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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 market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| 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, 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Opportunities and Challenges in the Market
8 Global Smart Home Appliances Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Home Appliances Historical Market (2018-2023)
8.3 Global Smart Home Appliances Market Forecast (2024-2032)
8.4 Global Smart Home Appliances Market by Product Type
8.4.1 Smart Ovens
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Smart Dishwashers
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Smart Refrigerators
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Smart Cookware and Cooktops
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Smart Scale and Thermometers
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Smart Home Appliances Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Smart Home Appliances Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Smart Home Appliances Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Smart Home Appliances Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Smart Home Appliances Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Smart Home Appliances Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 LG Electronics Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 AB ELECTROLUX
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Whirlpool Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Samsung Electronics Co., Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 BSH Hausgeräte GmbH
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Panasonic Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Smart Home Appliances Market: Key Industry Highlights, 2018 and 2032
2. Global Smart Home Appliances Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Smart Home Appliances Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Smart Home Appliances Historical Market: Breakup by Region (USD Billion), 2018-2023
5. Global Smart Home Appliances Market Forecast: Breakup by Region (USD Billion), 2024-2032
6. North America Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2018-2023
7. North America Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2024-2032
8. Europe Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2018-2023
9. Europe Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Asia Pacific Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Asia Pacific Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Latin America Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Latin America Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Middle East and Africa Smart Home Appliances Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Middle East and Africa Smart Home Appliances Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Global Smart Home Appliances Market Structure
Key Questions Answered in the Report
In 2023, the global smart home appliances market attained a value of nearly USD 45.51 billion.
The market is projected to grow at a CAGR of 17.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 191.72 billion by 2032.
The major market drivers are the increasing internet penetration in emerging economies, rising investments in smart grid projects, and surging adoption of cloud technologies.
The key trends guiding the market include the growing popularity of home improvement projects, the rising demand for video doorbells, voice-assisted technologies, and surveillance systems, as well as the surging development of smart cities.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major product types included in the smart home appliances market report are smart ovens, smart dishwashers, smart refrigerators, smart cookware and cooktops, and smart scale and thermometers, among others.
The major players in the market 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 45.51 billion in 2023, 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 2024-2032, growing at a CAGR of 17.3% to reach a value of about USD 191.72 billion by 2032.
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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