Smart home appliances market size to grow by USD 34.31 billion from 2021 to 2026: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Jan. 16, 2023 /PRNewswire/ -- The global smart home appliances market size is estimated to increase by USD 34.31 billion from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of 15% during the forecast period - Request a sample report

Vendor offerings -

• AB Electrolux - The company offers a wide range of smart home appliances such as refrigerators, dishwashers, washing machines, cookers, vacuum cleaners, and air conditioners.
• General Electric Co. - The company offers a wide range of smart home appliances such as refrigerators, dishwashers, ovens, ranges, washers, dryers, air conditioning units, and water heaters.
• Koninklijke Philips NV - The company offers a wide range of smart home appliances such as vacuums, cleaning and ironing, water purifiers, air fryer, blender, juicers, food processors, and mixers.
• LG Electronics Inc. - The company offers a wide range of smart home appliances such as TV, smartphone, AC, washing machine, fridge freezers, coffee makers, and iron.
• For details on vendors and their offerings – Buy the report!

Vendor landscape –

The global smart home appliances market is fragmented, with the presence of both established and small players investing significantly in smart home appliances. A few prominent vendors that offer smart home appliances in the market are AB Electrolux, Crestron Electronics Inc., General Electric Co., Haier Smart Home Co. Ltd., Koninklijke Philips NV, Legrand SA, LG Electronics Inc., MIDEA Group Co. Ltd., Miele and Cie. KG, MIRC Electronics Ltd., Mitsubishi Electric Corp., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schneider Electric SE, Sharp Corp., Videocon Industries Ltd., Vivint Smart Home Inc., Whirlpool Corp., and Xiaomi Corp. and others.

The global smart home appliances market is growing at a steady rate. The competition among vendors is expected to intensify over the next five years. Companies are spending significantly in R&D to develop innovative and high-quality products and stay updated with emerging technologies. Players are focusing on differentiating their product offerings through a clear and unique value proposition. Some of the strategies adopted by players offering smart appliances include marketing, customer service and support, and promotion.

To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Segment overview
Technavio has segmented the market based on distribution channel (offline and online) and product (smart washing machines and dryers, smart air conditioners, smart refrigerators, smart microwave ovens, and smart dishwashers). 

• The offline segment will grow at a significant rate during the forecast period. The offline format includes specialty retailers and distributor to consumer (D2C), department stores, hypermarkets, supermarkets and convenience stores, and others. The increase in preference for smart home appliances owing to rapid urbanization, increasing middle-class income population, and the rapid growth of developing countries are driving the growth of this segment.

Geography overview

Based on geography, the global smart home appliances market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global smart home appliances market.

• North America will account for 32% of the market's growth during the forecast period. The US and Canada are the key contributors to the smart home appliances market growth in North America. However, market growth in this region will be slower than the growth of the market in other regions. The rise in the popularity and adoption of smart home technology, owing to the implementation of stringent government regulations and standards related to energy usage, will drive the smart home appliances market growth in North America during the forecast period.

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Leading drivers - Product innovation in terms of technology, performance, features, and design is driving the growth of the market. Smart home appliances are equipped with devices such as cameras and sensors and connectivity features for remote monitoring and control. Many smart home appliances can shop for products online without any intervention from end-users. For instance, Samsung Electronics smart refrigerators can order food through the grocery shopping partner Instacart. Such factors are expected to positively impact the market growth during the forecast period.

Key trends - The introduction of additional features in smart home appliances is a key trend in the market. Vendors are introducing advanced appliances with connectivity features, sleek designs, and other attractive features. Some startups are manufacturing smart gadgets or accessories that automate home climate control with intelligent features, including location-based activation, timer settings, and others. Such factors will support the market growth during the forecast period.

Major challenges - The high cost of smart home appliances are challenging the market growth. Hence, consumers are hesitant to upgrade their regular home appliances. The technology used in smart home appliances is complex and requires in-depth R&D, which requires huge investments. Therefore, these factors are expected to hinder the market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the smart home appliances market between 2022 and 2026
• Precise estimation of the size of the smart home appliances market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the smart home appliances market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of smart home appliances market vendors

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1 Executive Summary 

1.1 Market overview 

Exhibit 01: Executive Summary – Chart on Market Overview 

Exhibit 02: Executive Summary – Data Table on Market Overview

Exhibit 03: Executive Summary – Chart on Global Market Characteristics 

Exhibit 04: Executive Summary – Chart on Market by Geography 

Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel

Exhibit 06: Executive Summary – Chart on Market Segmentation by Product 

Exhibit 07: Executive Summary – Chart on Incremental Growth 

Exhibit 08: Executive Summary – Data Table on Incremental Growth 

Exhibit 09: Executive Summary – Chart on Vendor Market Positioning 

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market 

Exhibit 11: Market Characteristics 

3 Market Sizing 

3.1 Market definition 

Exhibit 12: Offerings of vendors included in the market definition 

3.2 Market segment analysis 

Exhibit 13: Market segments 

3.3 Market size 2021 

3.4 Market outlook: Forecast for 2021-2026 

Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)

Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)

Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)

Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%) 

4 Five Forces Analysis 

4.1 Five forces summary 

Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers 

Exhibit 19: Bargaining power of buyers – Impact of key factors in 2021 and 2026 

4.3 Bargaining power of suppliers 

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026 

4.4 Threat of new entrants 

Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes 

Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026 

4.6 Threat of rivalry 

Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026 

4.7 Market condition 

Exhibit 24: Chart on Market condition - Five forces 2021 and 2026 

5 Market Segmentation by Distribution Channel 

5.1 Market segments 

Exhibit 25: Chart on Distribution Channel - Market share 2021-2026 (%) 

Exhibit 26: Data Table on Distribution Channel - Market share 2021-2026 (%)

5.2 Comparison by Distribution Channel 

Exhibit 27: Chart on Comparison by Distribution Channel 

Exhibit 28: Data Table on Comparison by Distribution Channel 

5.3 Offline - Market size and forecast 2021-2026 

Exhibit 29: Chart on Offline - Market size and forecast 2021-2026 ($ million)

Exhibit 30: Data Table on Offline - Market size and forecast 2021-2026 ($ million)

Exhibit 31: Chart on Offline - Year-over-year growth 2021-2026 (%) 

Exhibit 32: Data Table on Offline - Year-over-year growth 2021-2026 (%) 

5.4 Online - Market size and forecast 2021-2026 

Exhibit 33: Chart on Online - Market size and forecast 2021-2026 ($ million)

Exhibit 34: Data Table on Online - Market size and forecast 2021-2026 ($ million)

Exhibit 35: Chart on Online - Year-over-year growth 2021-2026 (%) 

Exhibit 36: Data Table on Online - Year-over-year growth 2021-2026 (%) 

5.5 Market opportunity by Distribution Channel 

Exhibit 37: Market opportunity by Distribution Channel ($ million) 

6 Market Segmentation by Product 

6.1 Market segments 

Exhibit 38: Chart on Product - Market share 2021-2026 (%)

Exhibit 39: Data Table on Product - Market share 2021-2026 (%) 

6.2 Comparison by Product 

Exhibit 40: Chart on Comparison by Product

Exhibit 41: Data Table on Comparison by Product 

6.3 Smart washing machines and dryers - Market size and forecast 2021-2026 

Exhibit 42: Chart on Smart washing machines and dryers - Market size and forecast 2021-2026 ($ million) 

Exhibit 43: Data Table on Smart washing machines and dryers - Market size and forecast 2021-2026 ($ million) 

Exhibit 44: Chart on Smart washing machines and dryers - Year-over-year growth 2021-2026 (%) 

Exhibit 45: Data Table on Smart washing machines and dryers - Year-over-year growth 2021-2026 (%) 

6.4 Smart air conditioners - Market size and forecast 2021-2026 

Exhibit 46: Chart on Smart air conditioners - Market size and forecast 2021-2026 ($ million) 

Exhibit 47: Data Table on Smart air conditioners - Market size and forecast 2021-2026 ($ million)

Exhibit 48: Chart on Smart air conditioners - Year-over-year growth 2021-2026 (%) 

Exhibit 49: Data Table on Smart air conditioners - Year-over-year growth 2021-2026 (%)

6.5 Smart refrigerators - Market size and forecast 2021-2026 

Exhibit 50: Chart on Smart refrigerators - Market size and forecast 2021-2026 ($ million) 

Exhibit 51: Data Table on Smart refrigerators - Market size and forecast 2021-2026 ($ million) 

Exhibit 52: Chart on Smart refrigerators - Year-over-year growth 2021-2026 (%) 

Exhibit 53: Data Table on Smart refrigerators - Year-over-year growth 2021-2026 (%)

6.6 Smart microwave ovens - Market size and forecast 2021-2026 

Exhibit 54: Chart on Smart microwave ovens - Market size and forecast 2021-2026 ($ million) 

Exhibit 55: Data Table on Smart microwave ovens - Market size and forecast 2021-2026 ($ million)

Exhibit 56: Chart on Smart microwave ovens - Year-over-year growth 2021-2026 (%)

Exhibit 57: Data Table on Smart microwave ovens - Year-over-year growth 2021-2026 (%) 

6.7 Smart dishwashers - Market size and forecast 2021-2026 

Exhibit 58: Chart on Smart dishwashers - Market size and forecast 2021-2026 ($ million)

Exhibit 59: Data Table on Smart dishwashers - Market size and forecast 2021-2026 ($ million) 

Exhibit 60: Chart on Smart dishwashers - Year-over-year growth 2021-2026 (%) 

Exhibit 61: Data Table on Smart dishwashers - Year-over-year growth 2021-2026 (%)

6.8 Market opportunity by Product 

Exhibit 62: Market opportunity by Product ($ million)

7 Customer Landscape 

7.1 Customer landscape overview 

Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria 

8 Geographic Landscape 

8.1 Geographic segmentation 

Exhibit 64: Chart on Market share by geography 2021-2026 (%) 

Exhibit 65: Data Table on Market share by geography 2021-2026 (%) 

8.2 Geographic comparison 

Exhibit 66: Chart on Geographic comparison 

Exhibit 67: Data Table on Geographic comparison 

8.3 North America - Market size and forecast 2021-2026 

Exhibit 68: Chart on North America - Market size and forecast 2021-2026 ($ million) 

Exhibit 69: Data Table on North America - Market size and forecast 2021-2026 ($ million) 

Exhibit 70: Chart on North America - Year-over-year growth 2021-2026 (%)

Exhibit 71: Data Table on North America - Year-over-year growth 2021-2026 (%) 

8.4 Europe - Market size and forecast 2021-2026 

Exhibit 72: Chart on Europe - Market size and forecast 2021-2026 ($ million)

Exhibit 73: Data Table on Europe - Market size and forecast 2021-2026 ($ million) 

Exhibit 74: Chart on Europe - Year-over-year growth 2021-2026 (%) 

Exhibit 75: Data Table on Europe - Year-over-year growth 2021-2026 (%)

8.5 APAC - Market size and forecast 2021-2026 

Exhibit 76: Chart on APAC - Market size and forecast 2021-2026 ($ million)

Exhibit 77: Data Table on APAC - Market size and forecast 2021-2026 ($ million) 

Exhibit 78: Chart on APAC - Year-over-year growth 2021-2026 (%) 

Exhibit 79: Data Table on APAC - Year-over-year growth 2021-2026 (%) 

8.6 South America - Market size and forecast 2021-2026 

Exhibit 80: Chart on South America - Market size and forecast 2021-2026 ($ million) 

Exhibit 81: Data Table on South America - Market size and forecast 2021-2026 ($ million) 

Exhibit 82: Chart on South America - Year-over-year growth 2021-2026 (%)

Exhibit 83: Data Table on South America - Year-over-year growth 2021-2026 (%)

8.7 Middle East and Africa - Market size and forecast 2021-2026 

Exhibit 84: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million) 

Exhibit 85: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)

Exhibit 86: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%) 

Exhibit 87: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

8.8 US - Market size and forecast 2021-2026 

Exhibit 88: Chart on US - Market size and forecast 2021-2026 ($ million) 

Exhibit 89: Data Table on US - Market size and forecast 2021-2026 ($ million)

Exhibit 90: Chart on US - Year-over-year growth 2021-2026 (%) 

Exhibit 91: Data Table on US - Year-over-year growth 2021-2026 (%) 

8.9 China - Market size and forecast 2021-2026 

Exhibit 92: Chart on China - Market size and forecast 2021-2026 ($ million)

Exhibit 93: Data Table on China - Market size and forecast 2021-2026 ($ million) 

Exhibit 94: Chart on China - Year-over-year growth 2021-2026 (%)

Exhibit 95: Data Table on China - Year-over-year growth 2021-2026 (%) 

8.10 Germany - Market size and forecast 2021-2026 

Exhibit 96: Chart on Germany - Market size and forecast 2021-2026 ($ million) 

Exhibit 97: Data Table on Germany - Market size and forecast 2021-2026 ($ million) 

Exhibit 98: Chart on Germany - Year-over-year growth 2021-2026 (%) 

Exhibit 99: Data Table on Germany - Year-over-year growth 2021-2026 (%)

8.11 Canada - Market size and forecast 2021-2026 

Exhibit 100: Chart on Canada - Market size and forecast 2021-2026 ($ million) 

Exhibit 101: Data Table on Canada - Market size and forecast 2021-2026 ($ million) 

Exhibit 102: Chart on Canada - Year-over-year growth 2021-2026 (%) 

Exhibit 103: Data Table on Canada - Year-over-year growth 2021-2026 (%)

8.12 UK - Market size and forecast 2021-2026 

Exhibit 104: Chart on UK - Market size and forecast 2021-2026 ($ million) 

Exhibit 105: Data Table on UK - Market size and forecast 2021-2026 ($ million) 

Exhibit 106: Chart on UK - Year-over-year growth 2021-2026 (%) 

Exhibit 107: Data Table on UK - Year-over-year growth 2021-2026 (%) 

8.13 Market opportunity by geography 

Exhibit 108: Market opportunity by geography ($ million) 

9 Drivers, Challenges, and Trends

9.1 Market drivers 

9.2 Market challenges

9.3 Impact of drivers and challenges 

Exhibit 109: Impact of drivers and challenges in 2021 and 2026 

9.4 Market trends 

10 Vendor Landscape 

10.1 Overview

10.2 Vendor landscape 

Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption 

Exhibit 111: Overview on factors of disruption 

10.4 Industry risks 

Exhibit 112: Impact of key risks on business 

11 Vendor Analysis 

11.1 Vendors covered

Exhibit 113: Vendors covered

11.2 Market positioning of vendors 

Exhibit 114: Matrix on vendor position and classification 

11.3 AB Electrolux 

Exhibit 115: AB Electrolux - Overview 

Exhibit 116: AB Electrolux - Business segments 

Exhibit 117: AB Electrolux - Key news 

Exhibit 118: AB Electrolux - Key offerings 

Exhibit 119: AB Electrolux - Segment focus 

11.4 General Electric Co. 

Exhibit 120: General Electric Co. - Overview

Exhibit 121: General Electric Co. - Business segments 

Exhibit 122: General Electric Co. - Key news 

Exhibit 123: General Electric Co. - Key offerings 

Exhibit 124: General Electric Co. - Segment focus 

11.5 Koninklijke Philips NV 

Exhibit 125: Koninklijke Philips NV - Overview 

Exhibit 126: Koninklijke Philips NV - Business segments 

Exhibit 127: Koninklijke Philips NV - Key news 

Exhibit 128: Koninklijke Philips NV - Key offerings 

Exhibit 129: Koninklijke Philips NV - Segment focus

11.6 LG Electronics Inc. 

Exhibit 130: LG Electronics Inc. - Overview 

Exhibit 131: LG Electronics Inc. - Business segments 

Exhibit 132: LG Electronics Inc. - Key news 

Exhibit 133: LG Electronics Inc. - Key offerings 

Exhibit 134: LG Electronics Inc. - Segment focus 

11.7 Mitsubishi Electric Corp.

Exhibit 135: Mitsubishi Electric Corp. - Overview 

Exhibit 136: Mitsubishi Electric Corp. - Business segments 

Exhibit 137: Mitsubishi Electric Corp. - Key news 

Exhibit 138: Mitsubishi Electric Corp. - Key offerings 

Exhibit 139: Mitsubishi Electric Corp. - Segment focus 

11.8 Panasonic Corp.

Exhibit 140: Panasonic Corp. - Overview 

Exhibit 141: Panasonic Corp. - Business segments 

Exhibit 142: Panasonic Corp. - Key offerings

Exhibit 143: Panasonic Corp. - Segment focus 

11.9 Robert Bosch GmbH 

Exhibit 144: Robert Bosch GmbH - Overview 

Exhibit 145: Robert Bosch GmbH - Business segments 

Exhibit 146: Robert Bosch GmbH - Key news 

Exhibit 147: Robert Bosch GmbH - Key offerings 

Exhibit 148: Robert Bosch GmbH - Segment focus 

11.10 Samsung Electronics Co. Ltd. 

Exhibit 149: Samsung Electronics Co. Ltd. - Overview 

Exhibit 150: Samsung Electronics Co. Ltd. - Business segments 

Exhibit 151: Samsung Electronics Co. Ltd. - Key news 

Exhibit 152: Samsung Electronics Co. Ltd. - Key offerings 

Exhibit 153: Samsung Electronics Co. Ltd. - Segment focus 

11.11 Sharp Corp. 

Exhibit 154: Sharp Corp. - Overview

Exhibit 155: Sharp Corp. - Business segments 

Exhibit 156: Sharp Corp. - Key news

Exhibit 157: Sharp Corp. - Key offerings 

Exhibit 158: Sharp Corp. - Segment focus 

11.12 Whirlpool Corp.

Exhibit 159: Whirlpool Corp. - Overview 

Exhibit 160: Whirlpool Corp. - Business segments 

Exhibit 161: Whirlpool Corp. - Key offerings 

Exhibit 162: Whirlpool Corp. - Segment focus 

12 Appendix 

12.1 Scope of the report 

12.2 Inclusions and exclusions checklist 

Exhibit 163: Inclusions checklist 

Exhibit 164: Exclusions checklist 

12.3 Currency conversion rates for US$ 

Exhibit 165: Currency conversion rates for US$ 

12.4 Research methodology 

Exhibit 166: Research methodology 

Exhibit 167: Validation techniques employed for market sizing 

Exhibit 168: Information sources 

12.5 List of abbreviations 

Exhibit 169: List of abbreviations 

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