Pandemic Spending Drives Smart Appliance and Consumer Robotics Market Revenues to US$80 Billion in 2021
Home tech is quickly evolving, making smart appliances and consumer robots commonplace in the smart home space
NEW YORK, July 22, 2021 /PRNewswire/ -- Consumer robotics and smart appliance vendors will continue to benefit from the boost in consumer spending on home technology in 2021, building on the uplift that started in the second half of 2020. Global tech market advisory firm ABI Research finds the consumer robotics and smart appliance market will generate US$80 billion in revenues in 2021, up 40% on 2020 revenues.
Growth comes as two dynamics combine. "The uplift in consumer investment in their home environments that started in the second half of last year continues. Aging appliances are being replaced and crucially upgraded as the value of improving the home environment remains high. At the same time, appliance manufacturers are seeing increasing value in adding communications into their product lines and that embedded capability is reaching further into their product portfolios and not just in the highest tier products. It is the combination of increased consumer awareness, greater product availability and better price points that will see strong growth continue throughout the decade," explains Jonathan Collins, Smart Home Research Director at ABI Research.
The maturing consumer robotics market is increasingly a key category within the smart appliance space. ABI Research has extended and combined its research coverage of both market segments to emphasize the commonality of the two markets, as well as their growing integration into the smart home market. "In the maturing robotics space, we see leading appliance vendors including Bosch, Siemens, Samsung and Haier increasingly invested in both the robotics and the smart home space," Collins adds.
Growing demand for smart appliances and consumer robotics comes as a level of standardization has come to smart home. "Vendors across the most prevalent smart home devices will be able to leverage the Matter smart home specification to open single products across the largest smart home ecosystems. "Although appliances and robotics remain beyond the first specification, initiatives such as Home Connect are bringing cross-vendor interoperability and smart home control to these markets," Collins concludes.
These findings are from ABI Research's Consumer Robotics and Smart Appliances market data report. This report is part of the company's Smart Home research service, which includes research, data, and ABI Insights. Market Data spreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight where opportunities lie.
About ABI Research
ABI Research provides actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today. ABI Research's global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors.
ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。
For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
[email protected]
SOURCE ABI Research
Share this article