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Smart Home Appliance Market Trends and Forecast

The future of the global smart home appliance market looks promising with opportunities in the online and offline markets. The global smart home appliance market is expected to reach an estimated $62.0 billion by 2028 with a CAGR of 14.5% from 2023 to 2028. The major drivers for this market are increasing penetration of smart homes, surging home improvement ventures, as well as growing advancement in IT and wireless communication across the globe.  
Smart Home Appliance Market by Product, Technology,and Distribution Channel
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown here. 
Smart Home Appliance Market by Segments

Smart Home Appliance Market by Segment

The study includes trends and forecast for the global smart home appliance market by product, technology, distribution channel, and region, as follows:

Smart Home Appliance Market by Product [Shipment Analysis by Value from 2017 to 2028]:

  • Smart Washing Machines
  • Smart Refrigerators
  • Smart TVs
  • Smart Air Purifiers
  • Others

Smart Home Appliance Market by Technology [Shipment Analysis by Value from 2017 to 2028]:

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

Smart Home Appliance Market by Distribution Channel [Shipment Analysis by Value from 2017 to 2028]:

  • Online
  • Offline

Smart Home Appliance Market by Region [Shipment Analysis by Value from 2017 to 2028]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

List of Smart Home Appliance Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, smart home appliance companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart home appliance companies profiled in this report include- 
  • Whirlpool Corporation
  • LG Electronics
  • Haier Group
  • Samsung Electronics
  • Panasonic Corporation
  • BSH Hausgeräte
  • Electrolux
  • Koninklijke Philips
  • GE Appliances
  • Xiaomi Corporation 

Smart Home Appliance Market Insights

  • Lucintel forecasts that smart washing machine will remain the largest segment over the forecast period due to evolving lifestyles, rising recognition of emerging technologies, surge in adoption of smart home devices and growing emphasis on energy efficiency for cost savings.   
  • Within this market, offline will remain the larger distribution channel segment because of its access to in-shop associates/professionals, ensuring guidance on product details and also enabling better evaluation of quality as well as features of the products.  
  • APAC will remain the largest region over the forecast period due to significant growth in the e-commerce industry, widespread adoption of cloud-based solutions, expanding internet reach, and increasing government initiatives fostering adoption of digitalization in the region.  

Features of the Smart Home Appliance Market

  • Market Size Estimates: Smart home appliance market size estimation in terms of value ($B)
  • Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Smart home appliance market size by various segments, such as by product, technology, distribution channel, and region
  • Regional Analysis: Smart home appliance market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different by product, technology, distribution channel, and regions for the smart home appliance market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the smart home appliance market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the smart home appliance market size?
Answer: The global smart home appliance market is expected to reach an estimated $62.0 billion by 2028.
Q2. What is the growth forecast for smart home appliance market?
Answer: The global smart home appliance market is expected to grow with a CAGR of 14.5% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the smart home appliance market?
Answer: The major drivers for this market are increasing penetration of smart homes, surging home improvement ventures, as well as growing advancement in IT and wireless communication across the globe.  
Q4. What are the major segments for smart home appliance market?
Answer: The future of the global smart home appliance market looks promising with opportunities in the online and offline markets.
Q5. Who are the key smart home appliance companies?
Answer: Some of the key smart home appliance companies are as follows:
  • Whirlpool Corporation
  • LG Electronics
  • Haier Group
  • Samsung Electronics
  • Panasonic Corporation
  • BSH Hausgeräte
  • Electrolux
  • Koninklijke Philips
  • GE Appliances
  • Xiaomi Corporation 
Q6. Which smart home appliance segment will be the largest in future?
Answer: Lucintel forecasts that smart washing machines will remain the largest   segment over the forecast period due to evolving lifestyles, rising recognition of emerging technologies, a surge in the adoption of smart home devices, and growing emphasis on energy efficiency for cost savings.   
Q7. In smart home appliance market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to significant growth in the e-commerce industry, widespread adoption of cloud-based solutions, expanding internet reach, and increasing government initiatives fostering adoption of digitalization in the region.  
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the global smart home appliance market by product (smart washing machines, smart refrigerators, smart TVs, smart air purifiers, and others), technology (Wi-Fi, Bluetooth, near field communication (NFC), and others), distribution channel (online and offline), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
 
For any questions related to smart home appliance market or related to smart home appliance companies, smart home appliance market size, smart home appliance market share, smart home appliance market growth, smart home appliance market research, write Lucintel analyst at email:
helpdesk@lucintel.com we will be glad to get back to you soon.
Table of Contents
 
 
1. Executive Summary
 
2. Global Smart Home Appliance Market: Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges 
 
3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends (2017-2022) and Forecast (2023-2028)
3.2: Global Smart Home Appliance Market Trends (2017-2022) and Forecast (2023-2028)
3.3: Global Smart Home Appliance Market by Product
3.3.1: Smart Washing Machines 
3.3.2: Smart Refrigerators 
3.3.3: Smart TVs
3.3.4: Smart Air Purifiers
3.3.5: Others 
3.4: Global Smart Home Appliance Market by Technology 
3.4.1: Wi-Fi
3.4.2: Bluetooth 
3.4.3: Near Field Communication (NFC)
3.4.4: Others 
3.5: Global Smart Home Appliance Market by Distribution Channel 
3.5.1: Online 
3.5.2: Offline 
 
4. Market Trends and Forecast Analysis by Region from 2017 to 2028 
4.1: Smart Home Appliance Market by Region
4.2: North American Smart Home Appliance Market 
4.2.1: North American Smart Home Appliance Market by Product: Smart Washing Machines, Smart Refrigerators, Smart TVs, Smart Air Purifiers, and Others
4.2.2: North American Smart Home Appliance Market by Distribution Channel: Online and Offline 
4.3: European Smart Home Appliance Market  
4.3.1: European Smart Home Appliance Market by Product: Smart Washing Machines, Smart Refrigerators, Smart TVs, Smart Air Purifiers, and Others
4.3.2: European Smart Home Appliance Market by Distribution Channel: Online and Offline
4.4: APAC Smart Home Appliance Market  
4.4.1: APAC Smart Home Appliance Market by Product: Smart Washing Machines, Smart Refrigerators, Smart TVs, Smart Air Purifiers, and Others
4.4.2: APAC Smart Home Appliance Market by Distribution Channel: Online and Offline
4.5: ROW Smart Home Appliance Market  
4.5.1: ROW Smart Home Appliance Market by Product: Smart Washing Machines, Smart Refrigerators, Smart TVs, Smart Air Purifiers, and Others
4.5.2: ROW Smart Home Appliance Market by Distribution Channel: Online and Offline
 
5. Competitor Analysis  
5.1: Product Portfolio Analysis  
5.2: Operational Integration  
5.3: Porter’s Five Forces Analysis   
 
6. Growth Opportunities and Strategic Analysis  
6.1: Growth Opportunity Analysis   
6.1.1: Growth Opportunities for the Smart Home Appliance Market by Product 
6.1.2: Growth Opportunities for the Smart Home Appliance Market by Technology 
6.1.3: Growth Opportunities for the Smart Home Appliance Market by Distribution Channel 
6.1.4: Growth Opportunities for the Smart Home Appliance Market by Region
6.2: Emerging Trends in the Global Smart Home Appliance Market   
6.3: Strategic Analysis   
6.3.1: New Product Development   
6.3.2: Capacity Expansion of the Global Smart Home Appliance Market   
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Smart Home Appliance Market   
6.3.4: Certification and Licensing   
 
7. Company Profiles of Leading Players  
7.1: Whirlpool Corporation
7.2: LG Electronics
7.3: Haier Group
7.4: Samsung Electronics
7.5: Panasonic Corporation
7.6: BSH Hausgeräte
7.7: Electrolux
7.8: Koninklijke Philips
7.9: GE Appliances 
7.10: Xiaomi Corporation  
 
 
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.