Global Smart Home Appliances Market: Serving Technology for Sustainable Future

Posted by IndustryARC on June 4th, 2019

Growth and development have been the aim of mankind since the initial societal establishment and, the introduction of smartphones was one of the most valuable innovations in the history. Now, humanity is on the verge of another extraordinary evolution with the development of smart homes. According to IndustryARC, the global smart home appliances market size stood at .86 billion as of 2018. Foreseeing the technical advancements and increasing uptake, the analysts have projected the global smart home appliances market to grow at an incredible CAGR of 15.40% through the forecast period 2019-2025.

A report by IndustryARC, titled “Smart Home Appliances Market: By Connectivity (NFC, Bluetooth, ZigBee, Wi-Fi, EnOcean, Cellular, RFID and Others); By Appliance (Home Appliances, Kitchen Appliances and Others) - Forecast(2019 - 2025),” is inclusive of various market aspects including size, trends, forecast, demands, opportunities, challenges, and geographical demand distributions.

Global Smart Home Appliances Market: Leading Segments

Currently, North America is leading the throne in the global smart home appliances market. The region grabbed 31.57% of the total smart home appliances demand in 2018, with US holding a prominent position. North America is one of the most developed regions on the planet and the hyped disposable income in society is driving the population towards experiencing a luxurious lifestyle. Ever changing lifestyle and advancement of technology will aid the exponential growth in the North America smart home appliances market.

Home appliances are the key application withdrawing the profits in the market and the opportunities are evaluated to grow at a CAGR of 17.89% through the aforementioned forecast period. Smart home appliances market growth is an advent to the trending smart house concept.

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Global Smart Home Appliances Industry Analysis

Other than automation, security is one of the most important aspects being tackled by the smart home appliances market. Smart home appliances are related with the instalments of smart security solutions in the houses. Smart appliances are tailored to detect the instances of burglaries in house occurring in the absence of any residents. According to Forbes, around 486,006 break-ins were recorded in the United States which could have been prevented by the smart security home appliances. Smart home appliances uses radio frequency identification (RFID), cellular technology and Bluetooth technology based on an open source software and proprietary software to monitor and automate in-home systems through mobile computing device and desktops.

As per the Consumer Technology Association, the growth in the smart home technologies predicted the shipment of 41.2 million units in 2018. This is a remarkable shoot in sales by 43% as compared to the precedent year. This is a constantly growing industry which aims to improve the lives of citizen across the world. Snowballing urbanization under the technical advancements will aid profits in the global smart home appliances market.

Global Smart Home Appliances Market Trends

• Artificial Intelligence:  This nurturing technology will plant IQ in the conventional home appliances. In simple language, the connectivity challenges will be reduced because of interconnection among the devices. Artificial intelligence will reduce the human efforts and interaction to achieve simple tasks such as turning lights on/off, A.C.’s, security gates and so on.
• IoT: Internet of things is the technology which is shaping the future. The technique will connect all the electronic devices with the Internet and all the devices will have the feature to communicate among themselves thereby reducing human interaction. Indulgence of IoT in smart home appliance will streamline profits in the global smart home appliances market.

Global Smart Home Appliances Market: Competitive Landscape

Some of the key companies identified in the report that are currently holding majority shares in the Smart Home Appliances market are LG Electronics, Panasonic Corp., Samsung, Whirlpool Corp, Haier, Microsoft, Broadcom, GE, Electrolux, Robert Bosch GmbH and Voltas Limited.

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