Smart Appliances Market

Smart Appliances Market is predicted to reach at USD 78,658 Million by 2028 at a CAGR of 15.2% during the forecast period.

Smart Appliances Market Overview

Smart Appliances can be controlled using a smartphone or tablet through an internet connection programmed to operate independently, based on input from sensors detecting things like temperature, light levels, or activity. It offers benefits such as better energy management and greater convenience, comfort, and security.

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Major Smart Appliances Market Drivers

The factors expected to supplement the market growth is the growing smartphone penetration with wireless internet connectivity. The convenience of operating smart appliances through smartphones or tablets attracts users to opt for smart appliances. Moreover, the high adaption of Bluetooth, RFID, Wi-Fi, Zigbee, and cellular technology can be another factor to drive the market growth. For instance, NXP semiconductors offer sensors, RFID, Wi-Fi, Bluetooth, and other wireless networks for a wide range of applications for smart home products.

Additionally, the increased dependency on the internet and smart gadgets among people along with the rising disposable income has propelled the market growth. Seeking it as a great opportunity, manufacturers are coming up with more innovative and user-friendly smart appliances to attract consumers. For instance, an app called Yummly from Whirlpool Corporation is offering a Yummly Smart Thermometer. It uses dual-temperature thermometer sensors for the oven and food simultaneously which sends a notification to the users when the meal is ready.

Restraint in the Smart Appliances Market

However, the increased internet penetration may risk privacy theft as personal details such as name, email address, home address, and credit card credentials are shared. Smart appliances are mainly controlled by smartphones, where companies can capture consumer data through these applications. The risk of privacy concerns can be a restriction for the smart appliances market.

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Product Type – Segment Analysis

Based on product type, the smart oven segment is expected to witness higher growth in the coming years. The growing demand for energy-efficient devices and rapid technological development in smart appliances are the factors for the growth of the smart appliances market size. For instance, the Hoover Vision oven has a touch screen door to adjust settings quickly. It has a built-in HD camera provided by an LED lighting system to check the entire cooking process without opening the door. The oven is always connected with Hoover Wizard App to set cooking programs and easily control the oven with smartphones.

Technology – Segment Analysis

Based on technology, the wi-fi segment is projected to witness higher growth in the coming years. With the increasing penetration of smartphones to wi-fi enables features, smart-home appliances are getting an upsurge in the market. For instance, General Electric offers a microwave with scan-to-cook technology. The microwave lets the user use the smartphone to scan the barcode on food packing. Heating instructions are directly sent to the microwave with complete cooking time and power levels.

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Regional – Segment Analysis

Based on region, the Asia Pacific region is projected to grow as the largest market for Smart Appliances globally during the forecast period. Increasing disposable income of the consumer, dual-income households has enabled household customers to buy AI-based smart appliances. Leading players in the Asia Pacific region in smart appliances such as Samsung Electronics, Panasonic, Haier and many more will generate massive demand for smart appliances. For instance, in 2021, LG Electronics unveiled an InstaView French Door Refrigerator in India. It comes with a smooth mirrored glass panel that illuminates two quick knocks, allowing users to take a look inside the refrigerator without opening the door, reducing cold air loss by 41%.

Top Market Players 

Several leading companies in the market include LG Electronics, Samsung Electronics, Panasonic, Haier Smart Home, Miele & Cie. KG, Whirlpool, Koninklijke Philips, General Electric, Groupe SEB, Electrolux AB and among others.

Key Developments:

• • In 2021, LG Electronics launched a cordless stick vacuum- LG CordZero ThinkQ A9 Kompressor. It is a fully automated dust removal system. It can clean all types of floorings and features a new charging station stand that automatically cleans out the dustbin.
  • In 2021, Haier launches the industry’s first revolutionary IoT smart sharing AC service. This AC is fully automated and enabled by IoT and can be conveniently operated through the ‘Smart Sharing AC’ mobile application.

Segments covered in the Report:

The Smart Appliances Market has been segmented based on Product Type, Technology, and region. Based on Product Type, the market is segmented into Smart Ovens, Smart Dishwasher, Smart Refrigerators, Smart Cookware, Smart Dishwasher, and Smart Deep Freezers. Based on Technology, market is segmented into WI-FI, Zigbee, Bluetooth, and Others. Based on End-User, market is segmented into Residential, Commercial.

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Market Segmentation

Global Smart Appliances Market by Product Type

• • Smart Ovens
  • Smart Dishwasher
  • Smart Refrigerators
  • Smart Cookware
  • Smart Dishwasher
  • Smart Deep Freezers

Global Smart Appliances Market by Technology

• • WI-FI
  • Zigbee
  • Bluetooth
  • Others

Global Smart Appliances Market by End-User

• • Residential
  • Commercial

Global Smart Appliances Market by Region

• • North America Smart Appliances Market (Option 1: As a part of the free 25% customization)

    • North America Smart Appliances Market by Product Type
    • North America Smart Appliances Market by Technology
    • North America Smart Appliances Market by End-User
    • US Smart Appliances Market All-Up
    • Canada Smart Appliances Market All-Up

  • Europe Smart Appliances Market (Option 2: As a part of the free 25% customization)

    • Europe Smart Appliances Market by Product Type
    • Europe Smart Appliances Market by Technology
    • Europe Smart Appliances Market by End-User
    • UK Smart Appliances Market All-Up
    • Germany Smart Appliances Market All-Up
    • France Smart Appliances Market All-Up
    • Spain Smart Appliances Market All-Up
    • Rest of Europe Smart Appliances Market All-Up

  • Asia-Pacific Smart Appliances Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Smart Appliances Market by Product Type
    • Asia-Pacific Smart Appliances Market by Technology
    • Asia-Pacific Smart Appliances Market by End-User
    • China Smart Appliances Market All-Up
    • India Smart Appliances Market All-Up
    • Japan Smart Appliances Market All-Up
    • Rest of APAC Smart Appliances Market All-Up

  • RoW Smart Appliances Market (Option 4: As a part of the free 25% customization)

    • RoW Smart Appliances Market by Product Type
    • RoW Smart Appliances Market by Technology
    • RoW Smart Appliances Market by End-User
    • Brazil Smart Appliances Market All-Up
    • South Africa Smart Appliances Market All-Up
    • Saudi Arabia Smart Appliances Market All-Up
    • UAE Smart Appliances Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Smart Appliances Market All-Up

Major Players Operating in the Smart Appliances market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • LG Electronics
  • Samsung Electronics
  • Panasonic
  • Haier Smart Home
  • Miele & Cie. KG
  • Whirlpool
  • Koninklijke Philips
  • General Electric
  • Groupe SEB
  • Electrolux AB