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Global Smart Appliances Market 2018 Size & Share Worth USD 49.12 Billion by 2024: Zion Market Research

According to the report, global smart appliances market was valued at approximately USD 18.82 billion in 2017 and is expected to generate revenue of around USD 49.12 billion by end of 2024, growing at a CAGR of around 14.69% between 2018 and 2024.

New York, NY, July 11, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Smart Appliances Market by Product [Home Appliances (Smart Washer, Smart Dryer, Smart Air Conditioner, Smart Lighting Devices, Smart Vacuum Cleaners, Smart Security Devices and Smart Water Heaters) and Kitchen Appliances (Smart Refrigerators, Smart Coffee Maker, Smart Kettle, Smart Dish Washers, Smart Oven, Smart Cooker, Others)] and by Technology (Wi-Fi, Bluetooth and NFC): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”.

According to the report, global smart appliances market was valued at approximately USD 18.82 billion in 2017 and is expected to generate revenue of around USD 49.12 billion by end of 2024, growing at a CAGR of around 14.69% between 2018 and 2024.

Smart appliances are conventional home appliances of next generation which are equipped with advanced features for receiving, processing, and transmitting information using laptops, smartphones, and tablets. Increasing use of appliances in kitchen and home has led to higher consumption of electricity, thereby, creating challenges for power companies to produce more electricity. According to the U.S. Energy Information Administration, the global energy demand is anticipated to reach nearly 38% by 2040. Rising cost of electricity bills is becoming a concern for the household consumers. Also, according to Hawaiian Electric in their recent study showed that appliances such as water heaters, refrigerators, air conditioners, home entertainment systems, and lighting fixtures consume a large amount of electricity. These rising costs are driving the consumers towards more energy saving options. 

Browse through 45 Tables & 21 Figures spread over 110 Pages and in-depth TOC on “Global Smart Appliances Market Size & Share 2017: Industry Applications, Trends Analysis and Forecast, 2024”.

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Smart appliances are the type of next-generation connected equipment that is designed in such a way which can be controlled with the command from the central system as well as it communicates to other appliances in the network. These connected devices allow the user to manage the appliances of home and kitchen from any place of the house, with the help of mobile, computing devices, or some kind of network which connects the user to these devices.

According to the U.S. Energy Information Administration, the global energy demand will increase to nearly 38% by 2040. Increasing use of appliances in homes and kitchens has led to higher consumption of energy, thus, challenging the power companies to produce more amount of electricity. In such circumstances, acceptance of smart appliances increases, since they provide real-time communication so as to operate the device in lower frequencies or by shifting the operation time to off-peak periods. Thereby, smart appliances are offering innovative control features to service providers as well as consumers with enhanced security, efficiency, and convenience.

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Based on the product, smart appliances market is segmented into smart home appliances and smart kitchen appliances. Smart home appliances are further categorized into smart washer; smart dryer; smart air conditioner; smart lighting devices; smart vacuum cleaners; smart security devices; and smart water heaters and smart kitchen appliances are further fragmented into smart refrigerators; smart coffee maker; smart kettle; smart dishwashers; smart oven; smart cooker; and others. Based on technology, the smart appliances market is segmented Wi-Fi, Bluetooth, and NFC.

Browse the full "Smart Appliances Market by Product (Home Appliances [Smart Washer, Smart Dryer, Smart Air Conditioner, Smart Lighting Devices, Smart Vacuum Cleaners, Smart Security Devices and Smart Water Heaters] and Kitchen Appliances [Smart Refrigerators, Smart Coffee Maker, Smart Kettle, Smart Dish Washers, Smart Oven, Smart Cooker, Others]) and by Technology (Wi-Fi, Bluetooth, and NFC): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/smart-appliances-market

Regionally, the market for smart appliances is segmented into the Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. China and Japan are the leading markets for a variety of smart home and kitchen appliances and are anticipated to lead the market for smart appliances in the forecast period. The Asia Pacific is witnessing growth due to rising disposable incomes of the people living, strengthening economies, and also due to the expansion of high-speed internet in the region. The rising commercialization of smart home systems and the ease of availability are also some of the driving factors for market growth in this region. The market is also expected to see heightened demand for a variety of smart systems and appliances from developed regions of Europe and North America, owing to the highly technologically advanced infrastructure, easy availability of advanced products, and high disposable incomes in these regions. 

Some of the key players in smart appliances market include as Electrolux AB, General Electric Co., Koninklijke Philips N.V., BSH Hausgerate GmbH, LG Electronics, Inc., Miele & Cie. KG, Panasonic Corp., Qingdao Haier Co. Ltd., Samsung Electronics Co. Ltd., and Whirlpool Corp.

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This report segments the global smart appliances market as follows:

Global Smart Appliances Market: Product Segment Analysis

  • Home Appliances
    • Smart Washer
    • Smart Dryer
    • Smart Air Conditioner
    • Smart Lighting Devices
    • Smart Vacuum Cleaners
    • Smart Security Devices
    • Smart Water Heaters
  • Kitchen Appliances
    • Smart Refrigerators
    • Smart Coffee Maker
    • Smart Kettle
    • Smart Dish Washers
    • Smart Oven
    • Smart Cooker
    • Others

Global Smart Appliances Market: Technology Segment Analysis

  • Wi-Fi
  • Bluetooth
  • NFC (Near Field Communication)

Global Smart Appliances Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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