Europe is the second-largest region, accounting for nearly 33% share of the smart home appliances market. As per the recent analysis, the region is estimated to grow at a significant rate throughout the forecast period. Germany and the U.K are likely to capture the majority share, backed by the increasing demand for convenience products at home such as Alexa.
NEWARK, Del: The global smart home appliances market is anticipated to garner US$ 75 Billion while expanding at a CAGR of 8.1% during the forecast period ranging from 2022 to 2032, as per Future Market Insights’ recent report. The market is estimated at US$ 32 Billion in 2021 and US$ 34.5 Billion in 2022. Product demand is being driven by factors, such as the growing penetration of smart homes, rising home improvement projects, and rapid developments in IT and wireless communication.
Technological advances incorporated into homes are augmenting industry growth. Makers are incessantly developing and transforming smart home appliances to cater to the relaxed lifestyles of tech-savvy consumers. Besides, brands have been improving smart automation and hi-tech features for smart homes. Digital smart dials and voice-controlled lighting with programmable attributes are anticipated to appeal to millennial clientele. On the other hand, high costs involved in technological advancements, which can result in higher global product costs, may hurt industry development.
Request a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15424
In recent years, the demand for smart home appliances has burgeoned at a moderate rate, backed by an upward trend of advanced gadgets among millennial consumers. In terms of product type, the demand for smart washing machines is rising at an impressive rate owing to the growing demand for convenience products in residential spaces.
Key Takeaways from the Market Study
- By product type, smart washing machines are expected to be most sought after, capturing 31% revenue
- Smart air purifiers to enjoy equally high demand, flourishing at a 7.9% CAGR until 2032
- Offline smart home appliance sales to retain dominance, comprising over 60% demand in 2022
- Online smart home appliances sales to surge fastest, estimated to record an 8.1% CAGR
- North America region is likely to account for the majority share of nearly 38% in 2022
- Europe to generate substantial expansion opportunities, yielding 1/3rd of global revenue in 2022
- Asia Pacific to register an 8.3% CAGR with regard to smart home appliance demand
“With the introduction of novel technologies and increasing concern for the cybersecurity, the manufacturers are investing more on developing energy-efficient products to offer protection for the residential & commercial, thereby exhibiting immense growth,” remarks an FMI analyst.
Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-15424
Competitive Landscape
Key players in the global Smart Home Appliances market include Whirlpool Corp., LG Electronics, Haier Group, Samsung Electronics Co. Ltd., Panasonic Corp., BSH Hausgeräte GmbH, Electrolux AB, Koninklijke Philips N.V, GE Appliances, Xiaomi Corp., among others. Recent key developments among players are:
- In January 2022, Samsung Electronics announced its membership in the Home Connectivity Alliance (HCA) together with leading manufacturers in the smart home space, aiming to promote interoperability and greater safety.
- In February 2021, Panasonic announced the launch of its IoT and AI-connected living platform-Mirage. Additionally, the company launched a connected refrigerator, washing machine, wifi fan, ROMA smart digital switches, and smart wifi controller plugs and switches in India.
- In January 2022, Electrolux and other manufacturers formed the Home Connectivity Alliance (HCA) to make devices and apps work together across brands for a better consumer experience.
Key Segments Covered in the Smart Home Appliances Industry Analysis
Smart Home Appliances Market by Product:
- Smart Washing Machines
- Smart Refrigerators
- Smart Air Purifiers
- Smart TV
- Other Smart Home Appliances
Smart Home Appliances Market by Distribution Channel:
- Online Sales of Smart Home Appliances
- Offline Sales of Smart Home Appliances
Smart Home Appliances Market by Region:
- North America Smart Home Appliances Market
- Latin America Smart Home Appliances Market
- Europe Smart Home Appliances Market
- Asia Pacific Smart Home Appliances Market
- Middle East & Africa Smart Home Appliances Market
Ask For Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-15424
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Smart Home Appliances market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on Smart Home Appliances Market by Product (Smart Washing Machines, Smart Refrigerators, Smart Air Purifiers, Smart TV, Others), by Distribution Channel (Online Sale, Offline Sale) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions/Exclusions
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product modifications /Innovation
- Key Success Factors
4.1. Strategic Developments
4.2. Key regulations
4.3. Product USPs /Technology
4.4. List of Manufacturers and Providers
- Market Background
5.1. Macro-Economic Factors
5.1.1. Global GDP outlook
5.1.2. Increasing R&D Expenditure
5.2. Forecast Factors – Relevance & Impact
5.2.1. New Product launches
5.2.2. Cost of Products
5.3. Market Dynamics
5.3.1. Drivers
5.3.2. Restraints
5.3.3. Opportunity Analysis
- Global Smart Home Appliances Market Volume (Units) Analysis 2017-2021 and Forecast, 2022-2032
6.1. Historical Market Volume (Units) Analysis, 2017-2021
6.2. Current and Future Market Volume (Units) Projections, 2022-2032
6.2.1. Y-o-Y Growth Trend Analysis
About the Consumer Product Division at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the ICT industry lucidly in 40+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Have a Look at Recent Trending Research Reports of Consumer Product
Smart Home Devices Market Forecast: The smart home devices market is forecast to exhibit 18.7% CAGR between 2021 and 2031
Smart Water Bottle Market Outlook: The global smart water bottle market is expected to grow at 11% CAGR between 2021 and 2031. Increasing concern regarding personal health and beauty is likely to result in high growth of the smart water bottle market
Disposable E-Cigarettes Market Share: The global disposable e-cigarettes market size is expected to be valued at US$ 6.34 Billion in 2022. With growing demand for non-tobacco products owing to rising health concerns among others, overall demand for disposable e-cigarettes is projected to grow at a CAGR of 11.2% between 2022 and 2032, totaling around US$ 18.32 Billion by 2032
Docking Station Market Trends: The global docking station market is projected to expand steadily at a CAGR 6.4% value, during the forecast period 2022-2032. In the year 2022, the market size is projected to expand and gain a global market valuation of US$ 1,505.5 Million
Alternative Accommodation Market Size: In 2022, the global alternative accommodation market is likely to hold a value of US$ 626.5 Billion. With a CAGR of 16.2%, the market is projected at US$ 139.6 Billion during the forecast period from 2022 to 2032
Home Audio Equipment Market Sales: The global home audio equipment market is anticipated at US$ 25 Billion in 2021. The sector is gaining pace as companies provide technologically improved home audio equipment with various wireless technologies. Thereby, garnering US$ 90 Billion in 2032, recording a CAGR of 12% from 2022-2032
Pet Treats and Chews Market Growth: The pet treats and chews market is estimated to reach US$ 8.2 Bn in 2022 and is projected to reach US$ 13.7 Bn by 2032, at a CAGR of 5.2% from 2022 to 2032
Pet Water Dispenser Market Analysis: The pet water dispenser market is estimated to reach US$ 151.2 Mn in 2022 and is projected to reach US$ 258.4 Mn by 2032, at a CAGR of 5.5% from 2022 to 2032
Pet Transporting Service Market Value: The global pet transporting service market size is slated to top US$ 522 Mn in 2022 and is projected to reach US$ 812 Mn by 2032, at a CAGR of 4.5 % from 2022 to 2032
Blackout Fabric Market Type: The global blackout fabric market is expected to be valued at US$ 9.19 Billion in 2022. The market is being driven by an increase in funding for home renovations and decorative arts. Furthermore, the emerging interest of smart homes will add value to market growth during the forecast period
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: [email protected]
For More Access: https://www.globenewswire.com/en/news-release/2022/08/10/2495983/0/en/Smart-Home-Appliances-Market-is-projected-to-grow-at-a-CAGR-of-8-1-between-2022-and-2032-Future-Market-Insights-Inc.html