SAN FRANCISCO, Nov. 26, 2020 /PRNewswire/ -- The global smart dishwasher market size is anticipated to reach USD 5.0 billion by 2027, expanding at a CAGR of 9.4%, according to a new report by Grand View Research, Inc. Growing home remodeling and renovation, rising popularity of smart home appliances, uplift in living standard, and increasing consumer spending on household products are likely to drive the market over the forecast period.
Smart dishwashers are gaining popularity over standard versions due to added features which offer high level of convenience and flexibility to consumers. The appliance is more efficient and known to address various cleaning issues such as food particle deposition on utensils. Also, enhanced features such as wireless connectivity allow consumers to incorporate the appliance with smart home design. With growing prominence of connected home appliances among new constructions, and being integral part of kitchen, the appliance is likely to witness significant traction in coming years.
Key suggestions from the report:
The built-in dishwasher product segment is expected to reach USD 2.2 billion by 2027, expanding at a CAGR of 9.5% from 2020 to 2027
The household application segment was valued at USD 1.1 billion in 2019 and is expected to reach USD 4.2 billion by 2027
Asia Pacific is expected to witness substantial growth over the forecast period with a revenue based CAGR of 11.7% from 2020 to 2027
Continuous expansion in the residential construction sector has also paved the way for smart appliances. Consumers, especially in developed countries are more inclined towards experiencing convenience and flexibility through home automation. As per the trading economics, the home ownership rate in the European Union was 69.3% in 2018 and foreseen to increase in coming years. It is likely to create an optimistic outlook for growth of the market. In addition, rising adoption of connected kitchen appliances in commercial spaces including restaurants, hotels, and cafes to efficiently clean the loads of dishes and utensils is likely to propel its demand over the forecast period.
By product type, the built-in dishwasher segment is foreseen to witness maximum CAGR owing to its rising adoption in household application. The appliance type has advanced features as compared to the free standing type including specialized wash cycle, spray arm, and targeted spray arm for hard-to-clean utensils such as baking dishes and pans. In addition, it fits beneath the counter top, flush to kitchen cabinets. These factors are expected to generate significant market growth over the forecast period.
Europe is foreseen to remain at forefront in terms of market share by accounting over 40.0% of revenue share till the end of 2027. The continuous increment in smart household as well as remodeling projects across the region is foreseen to drive the market over the forecast period.
Grand View Research has segmented the global smart dishwasher market on the basis of product, application, distribution channel, and region:
Smart Dishwasher Product Outlook (Revenue, USD Million, 2016 - 2027)
Free Standing Dishwasher
Smart Dishwasher Application Outlook (Revenue, USD Million, 2016 - 2027)
Smart Dishwasher Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
Smart Dishwasher Regional Outlook (Revenue, USD Million, 2016 - 2027)
Shoe Shine Machine Market – The global shoe shine machine market size was valued at USD 48.56 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 5.95% from 2019 to 2025.
Barbeque Grill Market – Rising trend of cookouts on weekends and holidays, especially among the younger population is expected to drive the growth.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.