The Smart Home Appliances Market Size to grow by USD 31.66 billion | Market Insights highlights the Adoption of Wireless Connecting Devices as key driver | Technavio – PRNewswire
The smart home appliances market is fragmented and the vendors are deploying various growth strategies to compete in the market.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- AB Electrolux
- General Electric Co.
- Koninklijke Philips NV
- LG Electronics Inc.
- Mitsubishi Electric Corp.
- Panasonic Corp.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Sharp Corp.
- Whirlpool Corp.
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report.
Geographical Market Analysis
APAC will provide maximum growth opportunities in the smart home appliances market during the forecast period. According to our research report, the region will contribute 40% of the global market growth and is expected to dominate the market through 2025.
China and Japan are the key markets for the smart home appliances market in the region. Over the next five years, North America is likely to see a rise in the popularity and adoption of smart home technology, with the United States leading the way because of technological developments and increased consumer awareness of the benefits of using smart appliances. Also, due to the introduction of severe government laws and standards related to energy usage in the United States, demand for more energy-efficient smart connected washing machines is expected to be significant during the forecasted period.
Furthermore, countries such as North America, Europe, APAC, South America, and MEA are expected to emerge as prominent markets for the smart home appliances market during the forecast period.
Know more about this market’s geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/smart-home-appliances-market-industry-analysis
Key Segment Analysis
The smart home appliances market share growth by smart washing machines and dryers segment will be significant during the forecast period. The existing demand for smart washing machines and dryers is fueled by a growth in the number of smart homes worldwide, growing adoption of smart grids, enhanced R&D infrastructure of existing companies in the category, and higher product availability. The aforementioned factors are considered the key drivers that facilitate the growth of the segment. Smart washing machines are connected to smart grids via Bluetooth, NFC, or Wi-Fi.
One of the most significant advantages of utilizing a smart washing machine is the ability to manage it remotely. Multiple governments are encouraging the use of smart washing machines as they are energy-efficient and promote the use of smart grid technology. It includes washing, air-drying, and folding using Haier’s smart products and technologies. The new product launches by major players in the category of smart home appliances will drive the market.
View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years.
Key Market Drivers & Trends:
Key market drivers such as the adoption of wireless connecting devices will drive the smart home …….
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