Smart Home Appliances Market Overview:
Smart homes are defined as modern homes that consists of appliances, lightings or electric devices that can be controlled remotely by an individual through mobile applications. The smart home is a home automation technology that provides the individual with security, comfort and other beneficial solutions. There are factors that drive the smart home appliance market including increasing adoption of IoT based devices and increased investments made by companies in Asia-Pacific region due to demand for the devices.
Smart Home Appliances Market are next generation home equipment, equipped with advanced features for receiving and transmitting data utilizing cell phones, tablets, and PCs. Expanding utilization of machines in homes has prompted higher energy utilization, consequently, presenting challenges for organizations to deliver greater power. According to U.S. Energy Information Administration, the worldwide energy request would increment by about 37% by 2035. In such situation, the appropriation of smart home appliance would increase, as they encourage real-time communication to operate the device at low frequencies. Hence, smart home appliances offer progressive control highlights to buyers and in addition specialist organizations alongside improved convenience, security, and proficiency.
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Major Key Players:
The prominent players in smart home appliances market are – Electrolux (Sweden), Haier Group Corporation (China), LG Electronics, Inc. (Korea), Samsung Group (Korea), Whirlpool Corporation (US), Dacor (US), Fujitsu General Limited (Japan), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany) and Voltas Limited (India) among others.
Industry News:
August 21, 2017, Bosch home appliance and Drop partnerships for smart kitchen in US
Bosch home appliances announced partnership with Drop for smart kitchen, to provide new experience of cooking to the end user. The Bosch Wall Oven is integrated with the Drop recipes app. In addition to the new Drop-enabled functionalities, the Bosch Wall Oven provides a range of smart features via the Home Connect App, that includes remote maintenance and care, diagnostics, and can seamlessly purchase appliance accessories.
August 30, 2018 Lenovo introduced a bunch of smart home products
Lenovo Smart Home Essentials is another group of interconnected gadgets that the organization will serve in the market, one-stop for both smart users and DIY home frameworks architects. The Lenovo Link application serves as a centralized control center for managing the devices, ideally eliminating the requirement for an individual application for each smart home device that is present in the market.
Smart Home Appliances Market Segmentation:
Based on product, the market is segmented into washing machine, dishwasher, refrigerator, air conditioner, security devices, lighting devices, and others
Based on technology, the market is segmented into Wi-Fi, radio frequency identification (RFID), ZigBee, cellular technology, Bluetooth, and others
Based on Region, the market is segmented into North America, Europe, Asia-Pacific (APAC), and rest of the world
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Smart Home Appliances MarketRegional Analysis:
Regionally, the smart home appliances market is segmented into North America, Europe, Asia-Pacific, and rest of the world. North America region is dominating the smart home appliances market and Asia-Pacific is expected to grow at a fast rate during forecast period.
The growth in North America is dominated by the is due to presence of large number of industrial players, intense research and development in the field, high penetration of Internet of Things and others. Europe has steady growth in the market. Whereas, Asia-Pacific market is expected to witness the fastest growth due to increasing awareness among individual, development of technology in the region, and rising demand of smart home appliances in the region is expected to grow the market. Additionally, the growing disposable income has led to change lifestyle among individuals also acts as a major factor that is driving the market.
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