LONDON--(BUSINESS WIRE)--The global smart home appliances market is expected to post a CAGR of more than 50% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
The popularity of wireless technologies is encouraging many home appliance manufacturers to introduce more advanced smart connected products. A wide range of home appliances today come with wireless connectivity technologies such as NFC, Wi-Fi, Bluetooth, and ZigBee. For instance, smart washing machines enable users to pair it up with their smartphones and download additional programs. The feature also helps in instantly troubleshooting problems with the machine. Hence, the growing adoption of wireless connecting devices and IoT is one of the key factors driving the growth of the market.
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As per Technavio, the introduction of additional features in smart home appliances will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Smart Home Appliances Market: Introduction of Additional Features in Smart Home Appliances
Vendors in the market are introducing smart appliances with sleek designs and intelligent features to attract customers. For instance, manufacturers of smart air conditioners are launching smartphone apps that enable users to remotely control the settings of the unit and automate the home climate control with intelligent features such as location-based activation, timer settings, and others. Such innovative features offered by vendors are expected to boost the growth of the global smart home appliances market during the forecast period.
“Partnerships with other companies and increasing M&A activities will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Smart Home Appliances Market: Segmentation Analysis
This market report segments the global smart home appliances market by product (smart washing machines and dryers, smart air conditioners, smart refrigerators, smart microwave ovens, and smart dishwashers) and geography (Americas, APAC, and EMEA).
The Americas region led the market in 2017, followed by the EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to witness the maximum incremental growth. This is due to various factors such as increasing disposable income, expanding middle class population, and increasing smartphone penetration and internet coverage.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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