Market Overview
A sophisticated version of conventional appliances being operated through connected devices such as computer, smartphone, or tablet to provide more information and control is called a smart appliance. Market Research Future (MRFR) has published and released a research report about the global smart appliances market that foretells success for this market with 17.51% CAGR (Compound Annual Growth Rate) between 2017 and 2027. By the end of 2027, the market is expected to be worth the US $ 595.49 bn.
The major factors driving the global smart appliances market include surging energy prices and abundance of wireless solutions. However, rapid internet penetration can endanger user privacy which might hamper the market growth.
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Latest Industry News
Legrand, a leading global specialist in electrical and network infrastructure solutions, has introduced the latest in smart lighting from the radiant® Collection. 6 NOV 2018
UK Government is set to introduce new regulations for smart energy appliances. The new rules will be based on the principle of interoperability, consumer protection, cybersecurity, data privacy, and grid stability. 22 OCT 2018
Segmentation
The global Smart Appliances Market has been segmented on the basis of component, end user, technology, and lastly, region. The component-based segmentation of this market segments the market into product and services. The product has been sub-segmented into the air conditioner, dishwasher, washing machine, and security devices. Security devices have been further segmented into lighting device and others. Services have been sub-segmented into professional services and managed services. Professional services have been further segmented into consulting services, repairs & maintenance services, system integration services, and others.
Based on the end user, the market has been segmented into commercial establishments, government entities, and residential premises. The technology-based segmentation segments the market into Bluetooth, cellular technology, near-field communication (NFC), radio-frequency identification (RFID), Wi-Fi, Zigbee, Z-Wave, and others.
Key Players:
The key players in the market of Smart Appliances are- Samsung (South Korea), Panasonic Corp. (Japan), Whirlpool Corp. (U.S.), Haier Co. Ltd. (China), Electrolux AB (Sweden), BSH Hausgerate GmbH (Germany), LG Inc. (South Korea), General Electric Co. (U.S.), Miele & Cie. KG (Germany), Philips N.V. (Netherlands), Groupe SEB (France) among others.
Regional Analysis
The regional segmentation segments the global smart appliances market into continent-based regional markets known as North America, Europe, Asia Pacific, and the rest of world (RoW). According to the report, North America has been anticipated to witness significant growth in the smart appliances market during the forecast period. The most important country-specific markets in this region are the United States of America (USA) and Canada are leading country-specific markets in the region, due to the increasing adoption rate of the Internet of Things (IoT) devices.
During the forecast period, Asia Pacific has been estimated to emerge as the fastest growing regional market. The major country-specific markets in this region are China, Taiwan, India, Japan, and South Korea, followed by the rest of Asia Pacific. The market is growing in this region due to rapid urbanization, rapid industrialization, and the rising disposable income among the middle-income population.
In Europe, the high density of population and technology advancement second only to North America is driving the market growth. The crucial country-specific markets in this region are France, Germany, and the United Kingdom (UK). The RoW segment covers Latin America and MEA region. In Latin America, Argentina and Brazil have strong economies, and they might emerge as big markets in the future. In the MEA region, the market is slow but steady. The reasons for slow market growth in the MEA region include lack of awareness, lack of education, lack of technological development, and political instability.
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Target audience
- Raw material suppliers
- Electronic design automation (EDA) & design tool vendors
- Fabrication, wafer, & foundry process equipment vendors
- Various smart appliances manufacturing companies
- Research and development organizations
- Technology providers and investors
- Associations working on smart appliances
- Sensor provider Sensors chip traders & distributors
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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