Smart Home Appliances Market Valued at $38.35 Billion by 2020 Observes Many New Entrants

Jul 07, 2016, 08:14 ET from Big Market Research

PORTLAND, Oregon, July 7, 2016 /PRNewswire/ --

Smart home appliances are next-generation home appliances that can receive, process and transmit information and communicate with devices such as smartphones, tablets and laptops to enable the user get real time information on the appliance along with remote access and control. According to the U.S. Energy Information Administration, the global energy demand would increase by nearly 37% by 2035. The energy requirement per household has continually increased due to the aggrandized use of home appliances, creating a demand supply gap for power companies. In this scenario, smart home appliances would facilitate real-time communication, enabling the user to operate the appliance at lower frequencies or shift the operating time to off-peak period. Thus, smart home appliances offer a revolutionary feature to consumers such as convenience, enhanced security and improved energy efficiency.

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Smart home appliances market is expected to witness a significant growth during the analysis period, owing to the technological advancement in electronics and communication sectors and the growing need of energy efficiency. Additionally, increasing purchasing power and improving lifestyle would also foster the demand for smart home appliances, globally.

The world smart home appliances market is segmented into product type, technology and geography. Based on the product type, the market is segmented into washing machine, refrigerators, dishwashers, air conditioners and others (small electrical appliances such as coffee machine, vacuum cleaners). Among the types of smart home appliances, smart washing machine generates the highest revenue in the market. Smart home appliances are operated using various technologies, such as Wi-Fi, Radio Frequency Identification (RFID), ZigBee, cellular technology, Bluetooth and others. Wi-Fi, ZigBee and Bluetooth are the most widely used technologies in the market and this trend is expected to continue during the forecast period.

The market has been analyzed on the basis of key geographic regions, which include North America, Europe, Asia-Pacific and Latin America, Middle East and Africa (LAMEA). North American market is presently dominating the global market, owing to favorable market conditions and adequate awareness among customers regarding smart home appliances. However, the Asia-Pacific region is anticipated to emerge as a market leader post 2017, owing to rising demand of these appliances in the China, India and Japan.

The key market players profiled in the report, include General Electric Company, Panasonic Corporation, Electrolux AB, LG Electronics, Inc., Samsung Electronics Co., Ltd., Koninklijke Philips N.V., Apple, Inc., Haier Electronics Group Co., Ltd., Whirlpool Corporation, Miele & Cie. KG and BSH Hausgerate GmbH. The prominent market players have launched innovative products to improve their market presence and expand their product portfolio. Moreover, these players have focused on creating awareness among consumers through trade shows, promotional events and other such activities.

Key Benefits: 

•This study highlights the current scenario of the world smart home appliances market along with its scope and identifies the ongoing trend of technological advancement for reducing the energy consumption

•Porters Five Force Model depicts the potency of suppliers and buyers along with the competitive scenario of the market, to facilitate efficient strategic planning

•The drivers and opportunities of the market have been examined to identify the current factors and upcoming technologies, which impact the market growth

•The value chain analysis of the industry highlights the key intermediaries involved and their roles at every stage of the value chain

•Quantitative analysis of the current market and estimations during the period of 20142020 have been provided to determine the financial appetency of the market

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Smart Home Appliances Market Segments: 

The market is segmented based on type, technology and geography.

Market by Type 

•Washing machine

•Refrigerator

•Dishwasher

•Air conditioner

•Others

Market by Technology 

•Wi-Fi

•Radio Frequency Identification (RFID)

•ZigBee

•Cellular Technology

•Bluetooth

•Others

Market by Geography 

•North America

•Europe

•Asia-Pacific

•Latin America, Middle East and Africa (LAMEA)

Smart Home Applicances Market Key Players  

•General Electric Company

•Panasonic Corporation

•Electrolux AB

•LG Electronics, Inc.

•Samsung Electronics Co., Ltd.

•Koninklijke Philips N.V.

•Apple, Inc.

•Haier Electronics Group Co., Ltd.

•Miele & Cie. KG

•BSH Hausgerate GmbH

•Whirlpool Corporation

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