Smart Washing Machine Market size to grow by USD 13,760.85 million from 2022 to 2027, North America to account for 33% of the market growth - Technavio

NEW YORK, May 18, 2023 /PRNewswire/ -- The smart washing machine market size is expected to grow by USD 13,760.85 million from 2022 to 2027. The market is estimated to be progressing at a CAGR of 14.39% as per the latest Technavio market research report. North America is estimated to account for 33% of the market's overall growth. The emergence of Industry 4.0 concepts, which includes the deployment of IoT, cloud computing, and automation in the industrial sector, is a major driver of the smart washing machine market in the region. Intelligent washing machines use less water compared to conventional washing machines. Market growth is expected to be driven by rising demand for water-saving and energy-efficient appliances. For more insights on the market share of various regions - Download sample report in MINUTES

Smart Washing Machine Market: Changes in the global labor force to drive growth

• The introduction of IoT-enabled washing machines and laundry services is an important trend influencing the smart washing machine market growth. 
• The IoT-enabled devices allow users to remotely control and monitor them through wireless connectivity and are gaining demand across the world.
• Wireless technologies such as Near Field Communication (NFC) are embedded in various electronic devices and NFC in home washing machines allows users to remotely connect to the device to control and monitor its operation.
• Hence, such factors drive the market growth of the market during the forecast period.

Smart Washing Machine Market: Introduction Of IoT-enabled Washing Machine And Laundry Services 

• The long product lifecycle of smart washing machines is posing a challenge for the smart washing machine market growth. 
• Washing machines are luxury items, and depending on the application and brand, the product usually has a long life cycle are made of stainless steel or hard, durable metals such as copper or aluminum.
• It is characterized by a longer replacement cycle compared to older home appliances made from less durable materials.
• The long service life of such devices reduces the frequency of product replacement.
• Hence, such challenges impede market growth during the forecast period.

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Some of the key Smart Washing Machine Market Players:

The smart washing machine market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

AB Electrolux, Arcelik A.S., General Electric Co., Haier Smart Home Co. Ltd., Hitachi Ltd., Hwasung Washing Machine Co., IFB Industries Ltd, Lenovo Group Ltd., LG Corp., MIDEA Group, Miele and Cie. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., Siemens AG, Tata Sons Pvt. Ltd., TCL Electronics Holdings Ltd., Toshiba Corp., and Whirlpool Corp.

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Smart Washing Machine Market: Segmentation Analysis

This smart washing machine market report extensively covers market segmentation by product type (front load and top load), distribution channel (offline and online), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

• The market share growth by the front load segment will be significant for overall market growth during the forecast period. Intelligent front-loading machines wash clothes better and are more water-saving and energy-efficient than top-loading machines. Front-loading washers use 40% less water than top-loading washers, on average. Additionally, front-loading washers have a faster spin speed, so your laundry dries faster. For instance, LG introduced new front-loading and top-loading washers with Turbo Wash technology to simplify your laundry experience. 

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The laundry folding machine market is projected to grow by USD 2.39 billion with a CAGR of 8.51% during the forecast period 2021 to 2026. Furthermore, this report extensively covers the laundry folding machine market segmentation by end-user (apparel manufacturers, industrial launderers, hotels, hospitals, and others), type (automatic, semi-automatic, and manual folding machine), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The social factors driving the adoption of laundry folding machines are notably driving the laundry folding machine market growth.

The residential washing machine market size is expected to increase by USD 30.83 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.91%. Furthermore, this report extensively covers residential washing machine market segmentations by product (top load and front load), technology (fully automatic and semi automatic), distribution channel (offline and online), and geography (APAC, Europe, North America, Middle East and Africa, and South America). Product innovation leading to portfolio extension and product premiumization is one of the key drivers supporting the residential washing machine market growth.

Table of Contents:

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 Product Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• 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 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global Smart Washing Machine Market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global Smart Washing Machine Market 2017 - 2021 ($ million)

• 4.2 Product Type Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Product Type Segment 2017 - 2021 ($ million)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product Type

• 6.1 Market segments 
• Exhibit 30: Chart on Product Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product Type - Market share 2022-2027 (%)

• 6.2 Comparison by Product Type 
• Exhibit 32: Chart on Comparison by Product Type
• Exhibit 33: Data Table on Comparison by Product Type

• 6.3 Front load - Market size and forecast 2022-2027
• Exhibit 34: Chart on Front load - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Front load - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Front load - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Front load - Year-over-year growth 2022-2027 (%)

• 6.4 Top load - Market size and forecast 2022-2027
• Exhibit 38: Chart on Top load - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Top load - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Top load - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Top load - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product Type 
• Exhibit 42: Market opportunity by Product Type ($ million)
• Exhibit 43: Data Table on Market opportunity by Product Type ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 44: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 46: Chart on Comparison by Distribution Channel
• Exhibit 47: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027
• Exhibit 48: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027
• Exhibit 52: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 56: Market opportunity by Distribution Channel ($ million)
• Exhibit 57: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027
• Exhibit 95: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 AB Electrolux 
• Exhibit 111: AB Electrolux - Overview
• Exhibit 112: AB Electrolux - Business segments
• Exhibit 113: AB Electrolux - Key news
• Exhibit 114: AB Electrolux - Key offerings
• Exhibit 115: AB Electrolux - Segment focus

• 12.4 Arcelik A.S. 
• Exhibit 116: Arcelik A.S. - Overview
• Exhibit 117: Arcelik A.S. - Product / Service
• Exhibit 118: Arcelik A.S. - Key offerings

• 12.5 General Electric Co. 
• Exhibit 119: General Electric Co. - Overview
• Exhibit 120: General Electric Co. - Business segments
• Exhibit 121: General Electric Co. - Key news
• Exhibit 122: General Electric Co. - Key offerings
• Exhibit 123: General Electric Co. - Segment focus

• 12.6 Haier Smart Home Co. Ltd. 
• Exhibit 124: Haier Smart Home Co. Ltd. - Overview
• Exhibit 125: Haier Smart Home Co. Ltd. - Business segments
• Exhibit 126: Haier Smart Home Co. Ltd. - Key offerings
• Exhibit 127: Haier Smart Home Co. Ltd. - Segment focus

• 12.7 Hitachi Ltd. 
• Exhibit 128: Hitachi Ltd. - Overview
• Exhibit 129: Hitachi Ltd. - Business segments
• Exhibit 130: Hitachi Ltd. - Key news
• Exhibit 131: Hitachi Ltd. - Key offerings
• Exhibit 132: Hitachi Ltd. - Segment focus

• 12.8 IFB Industries Ltd 
• Exhibit 133: IFB Industries Ltd - Overview
• Exhibit 134: IFB Industries Ltd - Business segments
• Exhibit 135: IFB Industries Ltd - Key offerings
• Exhibit 136: IFB Industries Ltd - Segment focus

• 12.9 LG Corp. 
• Exhibit 137: LG Corp. - Overview
• Exhibit 138: LG Corp. - Business segments
• Exhibit 139: LG Corp. - Key offerings
• Exhibit 140: LG Corp. - Segment focus

• 12.10 Miele and Cie. KG 
• Exhibit 141: Miele and Cie. KG - Overview
• Exhibit 142: Miele and Cie. KG - Product / Service
• Exhibit 143: Miele and Cie. KG - Key offerings

• 12.11 Panasonic Holdings Corp. 
• Exhibit 144: Panasonic Holdings Corp. - Overview
• Exhibit 145: Panasonic Holdings Corp. - Business segments
• Exhibit 146: Panasonic Holdings Corp. - Key news
• Exhibit 147: Panasonic Holdings Corp. - Key offerings
• Exhibit 148: Panasonic Holdings Corp. - Segment focus

• 12.12 Robert Bosch GmbH 
• Exhibit 149: Robert Bosch GmbH - Overview
• Exhibit 150: Robert Bosch GmbH - Business segments
• Exhibit 151: Robert Bosch GmbH - Key news
• Exhibit 152: Robert Bosch GmbH - Key offerings
• Exhibit 153: Robert Bosch GmbH - Segment focus

• 12.13 Samsung Electronics Co. Ltd. 
• Exhibit 154: Samsung Electronics Co. Ltd. - Overview
• Exhibit 155: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 156: Samsung Electronics Co. Ltd. - Key news
• Exhibit 157: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 158: Samsung Electronics Co. Ltd. - Segment focus

• 12.14 Sharp Corp. 
• Exhibit 159: Sharp Corp. - Overview
• Exhibit 160: Sharp Corp. - Business segments
• Exhibit 161: Sharp Corp. - Key news
• Exhibit 162: Sharp Corp. - Key offerings
• Exhibit 163: Sharp Corp. - Segment focus

• 12.15 Siemens AG 
• Exhibit 164: Siemens AG - Overview
• Exhibit 165: Siemens AG - Business segments
• Exhibit 166: Siemens AG - Key news
• Exhibit 167: Siemens AG - Key offerings
• Exhibit 168: Siemens AG - Segment focus

• 12.16 Toshiba Corp. 
• Exhibit 169: Toshiba Corp. - Overview
• Exhibit 170: Toshiba Corp. - Business segments
• Exhibit 171: Toshiba Corp. - Key offerings
• Exhibit 172: Toshiba Corp. - Segment focus

• 12.17 Whirlpool Corp. 
• Exhibit 173: Whirlpool Corp. - Overview
• Exhibit 174: Whirlpool Corp. - Business segments
• Exhibit 175: Whirlpool Corp. - Key offerings
• Exhibit 176: Whirlpool Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 177: Inclusions checklist
• Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 180: Research methodology
• Exhibit 181: Validation techniques employed for market sizing
• Exhibit 182: Information sources

• 13.5 List of abbreviations 
• Exhibit 183: List of abbreviations

About Technavio

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With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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