Research and Markets: The Global Smart Appliances Market to Grow at a CAGR of 11.9 Percent over the Period 2012-2016

Business Wire

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/xdchz5/global_smart) has announced the addition of the "Global Smart Appliances Market 2012-2016" report to their offering.

One of the key factors contributing to this market growth is the growing need for power-efficient appliances. The Global Smart Appliances market has also been witnessing a rapid technological advancement in design and development of household and professional appliances. However, the high cost of smart appliances could pose a challenge to the growth of this market.

The key vendors dominating this market space include Electrolux, General Electric, LG Electronics Co. Ltd., Samsung Electronics Co. Ltd., and Whirlpool Corp

Commenting on the report, an analyst from the Hardware team said: The Global Smart Appliances market is witnessing a trend of increased investment in R and D activities in the design and development of smart appliances. The leading vendors of the market, such as Whirlpool, Electrolux, Samsung, and LG Electronics, have increased their investment in the R and D of smart appliances. These vendors have discovered a huge potential in this market and this is a driving factor for them to increase the investment in the R and D team. Furthermore, vendors are also developing a proper set of technology standards using effective R and D processes. Also, the increased investment in the R and D team has improved the efficiency and performance of smart appliances.

According to the report, the main driver in this market is the increasing need for efficient appliances. Users adopt smart appliances as they are specifically designed and developed to consume less power and provide high quality of service.

Further, the report states that a major challenge for the market is the high cost of smart appliances. As the prime target end-users are individual consumers, the cost of smart appliances for them is higher than that of normal appliances.

For more information visit http://www.researchandmarkets.com/research/xdchz5/global_smart

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Sector: Household Appliances
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