Smart Home Appliances Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Offering (Products, Services), By Technology (Wi-Fi, Bluetooth, Near Field Communication (NFC), Others), By Sales Channel (Direct Sales Channel, Indirect Sales Channel), By End User (Residential, Commercial), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
- Published Date: May 2022
- Report ID: BWC22170
- Available Format: PDF
- Page: 186
Report Overview
Global smart home appliances market is flourishing at a high rate owing to the rising internet penetration, fast technological advancements, wireless communication, and increased smartphone use along with rapid integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI)...
Global Smart Home Appliances Market- Industry Trends & Forecast Report 2028
The global smart home appliances market was worth USD 31.8 billion in 2021 and is further projected to reach USD 73.1 billion by the year 2028, growing at a CAGR of over 12% during the forecast period. The global smart home appliances market is flourishing at a high rate owing to the rising internet penetration, fast technological advancements, wireless communication, and increased smartphone use. Furthermore, rapid integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), cloud computing, etc., is also presenting lucrative growth opportunities to the market.
Smart Home Appliances - Overview
A smart home appliance is an electronic device that is capable of performing autonomously as well as controlled remotely through advanced technologies such as IoT and AI. These devices are connected through a central system and generate and share data through cloud computing. Some of the most common types of smart home appliances are energy control systems, air conditioners, security systems, lighting, etc. Smart home appliances are designed to make living more convenient and comfortable through automation.
Smart Home Appliances Market Forecast and Trends
Growth Drivers
Increasing Launches Of a Wide Range Of Products
With the increasing demand for smart home appliances for various purposes in the market, the industry participants are increasingly launching new products to grab a larger share in the market. For instance, Xiaomi, the global consumer electronics manufacturer announced the launch of new smart home products including a variety of rice cookers, induction cookers, and electric kettles. Samsung Electronics has also announced the launch of Samsung Home Hub which offers improved home connectivity with a range of smart home appliances.
Launch Of 5G Technology And Penetration Of Cloud Computing
The interconnectivity of devices will rise with the introduction of 5G networks, resulting in improved data transmission and reception. This is anticipated to strengthen device connectivity in smart home appliances. Furthermore, increasing cloud use and the establishment of new cloud data centers will present lucrative growth prospects for extending the storage of data generated by IoT sensors in smart home appliances. With limited resources, the cloud provides improved scalability, which will drive the demand for smart home equipment.
Restraints
High Risk Of Data Security And Privacy
The smart home equipment creates massive volumes of data that are used for analysis to predict and make decisions. Data is stored on personal devices such as smartphones or sent via cloud services. This exposes consumers' data to potential hacks and data thefts, which is a big market restraint. Malware attacks are widespread in IoT applications, and even though devices have strong built-in security mechanisms, they are insufficient to secure data.
Impact of COVID-19 on Smart Home Appliances Market
The sudden COVID-19 pandemic resulted in a subsequent decline in the demand for the global smart home appliances market during the COVID-19 period. The manufacturing and distribution operations of the smart home appliances market were completely halted during the lockdown period. The production also faced huge challenges post the lockdown uplift due to the huge shortage of semiconductor chips. Furthermore, the purchasing power of consumers was also negatively impacted by the economic distress caused by the pandemic, due to which the demand for smart home appliances market was affected.
Smart Home Appliances Market - By Offering
Based on offering, the global smart home appliances market is segmented into products and services. The products segment is furthermore classified into smart washers, smart dryers, smart air conditioners (AC), smart water heaters, smart lighting devices, smart security devices, smart vacuum cleaners, smart refrigerators, smart coffee makers, smart kettles, smart dishwashers, smart deep freezers, smart ovens, smart cooktops, smart cookers, and others. The smart security devices segment accounts for the largest market share.
Smart Home Appliances Market - By Technology
Based on technology, the global smart home appliances market is segmented into Wi-Fi, Bluetooth, near field communication (NFC), and others. The Wi-Fi technology accounts for the largest market share as it allows increased efficiency and wider coverage compared to its counterparts. That is why, most smart home appliance manufacturers such as Samsung, LG, Huawei, etc., opt for Wi-Fi connectivity into their products, due to which its market is flourishing at a high rate.
Smart Home Appliances Market - Regional Insights
Geographically, the global smart home appliances market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. The Asia-Pacific region dominates the smart home appliances market owing to the increasing disposable income of consumers and rising spending on smart home appliances. Furthermore, increasing internet penetration and ownership of houses due to rising purchasing power is anticipated to fuel the demand for smart home appliances in the forecast period.
Competitive Landscape
The leading market players of the global smart home appliances market are AB Electrolux, Breville Group Limited, Samsung Electronics Co. Ltd, Haier Group, Whirlpool Corporation, Panasonic Corporation, Whirlpool Corporation, Panasonic Corporation, LG Electronics Inc., BSH Home Appliances Corporation, General Electric Company, BSH Hausgeräte GmbH, Koninklijke Philips N.V., Apple Inc., and other prominent players.
The smart home appliances market is highly consolidated with the presence of multinational technology companies. These companies constantly launch a wide range of products to new innovations to attract consumers and significantly invest in research and development activities to further innovate their offerings. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Recent Development
- In March 2022, Huawei, a Chinese multinational technology company, announced the launch of a series of new smart home appliances including smart door locks, Notepad Paper, smart portable speaker Sound Joy, etc.
- In March 2022, Samsung SmartThings and CommScope RUCKUS announced their collaboration to launch smart home tech for landlords for enhanced experiences for tenants and residents.
Scope of the Report
| Attributes | Details |
| Years Considered | Historical data – 2018-2021 |
| Base Year – 2021 | |
| Forecast – 2022 – 2028 | |
| Facts Covered | Revenue in USD Billion |
| Market Coverage | U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
| Product Service/Segmentation | By Offering, By Technology, By Sales Channel, By End User, By Region |
| Key Players | AB Electrolux, Breville Group Limited, Samsung Electronics Co. Ltd, Haier Group, Whirlpool Corporation, Panasonic Corporation, Whirlpool Corporation, Panasonic Corporation, LG Electronics Inc., BSH Home Appliances Corporation, General Electric Company, BSH Hausgeräte GmbH, Koninklijke Philips N.V., Apple Inc., and other prominent players. |
By Offering
- Products
- Services
By Technology
- Wi-Fi
- Bluetooth
- Near Field Communication (NFC)
- Others)
By Sales Channel
- Direct Sales Channel
- Indirect Sales Channel
By End User
- Residential
- Commercial
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumption & Limitation
- Qualitative Research
- Executive Summary
- Global Smart Home Appliances Market Insights
- Industry Value Chain Analysis
- Sales/Retail Channel Analysis
- Profit Margin Analysis
- DROC Analysis
- Growth Drivers
- Restraints
- Opportunities
- Challenges
- Technological Landscape/Recent Development
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Industry Value Chain Analysis
- Global Smart Home Appliances Market Overview
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Product Type
- Smart Washing Machines
- Smart TVs
- Smart Air Purifiers
- Smart Refrigerators
- Others
- By Technology
- Wi-Fi
- Bluetooth
- Radio Frequency Identification (RFID)
- Near-Field Communication (NFC)
- ZigBee
- Others (Cellular Technology, Z Wave, Insteon, HomeRF, and EnOcean)
- By Distribution Channel
- Online
- E-commerce Websites
- Company Owned Websites
- Offline
- Supermarkets / Hypermarkets
- Specialty Stores
- Factory Outlets
- Other Retail Based Stores
- Online
- By Region
- North America
- Europe
- The Asia-Pacific
- Latin America
- The Middle-East and Africa
- By Product Type
- Market Size & Forecast by Value, 2018-2028
- North America Smart Home Appliances Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Product Type
- By Technology
- By Distribution Channel
- By Country
- United States
- Canada
- Market Size & Forecast by Value, 2018-2028
- Europe Smart Home Appliances Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Product Type
- By Technology
- By Distribution Channel
- By Country
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Market Size & Forecast by Value, 2018-2028
- The Asia Pacific Smart Home Appliances Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Product Type
- By Technology
- By Distribution Channel
- By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Market Size & Forecast by Value, 2018-2028
- Latin America Smart Home Appliances Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Product Type
- By Technology
- By Distribution Channel
- By Country
- Brazil
- Mexico
- Rest of Latin America
- Market Size & Forecast by Value, 2018-2028
- The Middle East & Africa Smart Home Appliances Market
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Million)
- Market Share & Forecast
- By Product Type
- By Technology
- By Distribution Channel
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Market Size & Forecast by Value, 2018-2028
- Competitive Landscape
- List of Key Players and Their Offerings
- Global Players Market Share Analysis, 2021
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Merger, Acquisition, Business Expansion, Agreement, Partnership and Product Launch)
- Impact of COVID-19 on Global Smart Home Appliances Industry
- Consumer Behavior Analysis
- Demographic Analysis
- Consumer Trends and Preferences
- Consumer Spending on Smart Home Technologies
- Factors Affecting Buying Decision
- Consumer Product Adoption
- Observations & Recommendations
- Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- AB Electrolux
- BSH Home Appliances Corporation
- General Electric Company
- Haier Group Corporation
- Irobot Corporation
- Koninklijke Philips N.V.
- LG Electronics Inc.
- Xiaomi Corporation
- Midea Group
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Robert Bosch GmbH
- Samsung Electronics Co., Ltd.
- Sharp Corporation
- Whirlpool Corporation
- Key Strategic Recommendations
Note:
- Financial Information of non-listed companies will be provided as per the availability
- The segmentation and the companies are subjected to modification based on in-depth secondary for the final deliverable.
List of Figures
Figure 1 Global Smart Home Appliances Segmentation
Figure 2 Global Smart Home Appliances Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2021
Figure 4 Global Smart Home Appliances Market Size, By Value (USD Million), 2018-2028
Figure 5 Global Smart Home Appliances Market Share, By Product Type, By Value, 2018-2028
Figure 6 Global Smart Home Appliances Market Share, By Technology, By Value, 2018-2028
Figure 7 Global Smart Home Appliances Market Share, By Distribution Channel, By Value, 2018-2028
Figure 8 Global Smart Home Appliances Market Share, By Region, By Value, 2018-2028
Figure 9 North America Smart Home Appliances Market Size, By Value (USD Million), 2018-2028
Figure 10 North America Smart Home Appliances Market Share, By Product Type, By Value, 2018-2028
Figure 11 North America Smart Home Appliances Market Share, By Technology, By Value, 2018-2028
Figure 12 North America Smart Home Appliances Market Share, By Distribution Channel, By Value, 2018-2028
Figure 13 North America Smart Home Appliances Market Share, By Country, By Value, 2018-2028
Figure 14 Europe Smart Home Appliances Market Size, By Value (USD Million), 2018-2028
Figure 15 Europe Smart Home Appliances Market Share, By Product Type, By Value, 2018-2028
Figure 16 Europe Smart Home Appliances Market Share, By Technology, By Value, 2018-2028
Figure 17 Europe Smart Home Appliances Market Share, By Distribution Channel, By Value, 2018-2028
Figure 18 Europe Smart Home Appliances Market Share, By Country, By Value, 2018-2028
Figure 19 The Asia-Pacific Smart Home Appliances Market Size, By Value (USD Million), 2018-2028
Figure 20 The Asia-Pacific Smart Home Appliances Market Share, By Product Type, By Value, 2018-2028
Figure 21 The Asia-Pacific Smart Home Appliances Market Share, By Technology, By Value, 2018-2028
Figure 22 The Asia-Pacific Smart Home Appliances Market Share, By Distribution Channel, By Value, 2018-2028
Figure 23 The Asia-Pacific Smart Home Appliances Market Share, By Country, By Value, 2018-2028
Figure 24 Latin America Smart Home Appliances Market Size, By Value (USD Million), 2018-2028
Figure 25 Latin America Smart Home Appliances Market Share, By Product Type, By Value, 2018-2028
Figure 26 Latin America Smart Home Appliances Market Share, By Technology, By Value, 2018-2028
Figure 27 Latin America Smart Home Appliances Market Share, By Distribution Channel, By Value, 2018-2028
Figure 28 Latin America Smart Home Appliances Market Share, By Country, By Value, 2018-2028
Figure 29 The Middle East & Africa Smart Home Appliances Market Size, By Value (USD Million), 2018-2028
Figure 30 The Middle East & Africa Smart Home Appliances Market Share, By Product Type, By Value, 2018-2028
Figure 31 The Middle East & Africa Smart Home Appliances Market Share, By Technology, By Value, 2018-2028
Figure 32 The Middle East & Africa Smart Home Appliances Market Share, By Distribution Channel, By Value, 2018-2028
Figure 33 The Middle East & Africa Smart Home Appliances Market Share, By Country, By Value, 2018-2028
List of Tables
Table 1 Global Smart Home Appliances Market Size, By Product Type, By Value, 2018-2028
Table 2 Global Smart Home Appliances Market Size, By Technology, By Value, 2018-2028
Table 3 Global Smart Home Appliances Market Size, By Distribution Channel, By Value, 2018-2028
Table 4 Global Smart Home Appliances Market Size, By Region, By Value, 2018-2028
Table 5 North America Smart Home Appliances Market Size, By Product Type, By Value, 2018-2028
Table 6 North America Smart Home Appliances Market Size, By Technology, By Value, 2018-2028
Table 7 North America Smart Home Appliances Market Size, By Distribution Channel, By Value, 2018-2028
Table 8 North America Smart Home Appliances Market Size, By Country, By Value, 2018-2028
Table 9 Europe Smart Home Appliances Market Size, By Product Type, By Value, 2018-2028
Table 10 Europe Smart Home Appliances Market Size, By Technology, By Value, 2018-2028
Table 11 Europe Smart Home Appliances Market Size, By Distribution Channel, By Value, 2018-2028
Table 12 Europe Smart Home Appliances Market Size, By Country, By Value, 2018-2028
Table 13 The Asia-Pacific Smart Home Appliances Market Size, By Product Type, By Value, 2018-2028
Table 14 The Asia-Pacific Smart Home Appliances Market Size, By Technology, By Value, 2018-2028
Table 15 The Asia-Pacific Smart Home Appliances Market Size, By Distribution Channel, By Value, 2018-2028
Table 16 The Asia-Pacific Smart Home Appliances Market Size, By Country, By Value, 2018-2028
Table 17 Latin America Smart Home Appliances Market Size, By Product Type, By Value, 2018-2028
Table 18 Latin America Smart Home Appliances Market Size, By Technology, By Value, 2018-2028
Table 19 Latin America Smart Home Appliances Market Size, By Distribution Channel, By Value, 2018-2028
Table 20 Latin America Smart Home Appliances Market Size, By Country, By Value, 2018-2028
Table 21 The Middle East & Africa Smart Home Appliances Market Size, By Product Type, By Value, 2018-2028
Table 22 The Middle East & Africa Smart Home Appliances Market Size, By Technology, By Value, 2018-2028
Table 23 The Middle East & Africa Smart Home Appliances Market Size, By Distribution Channel, By Value, 2018-2028
Table 24 The Middle East & Africa Smart Home Appliances Market Size, By Country, By Value, 2018-2028
Table 25 AB Electrolux Company Overview
Table 26 AB Electrolux Financial Overview
Table 27 BSH Home Appliances Corporation Company Overview
Table 28 BSH Home Appliances Corporation Financial Overview
Table 29 Haier Group Corporation Company Overview
Table 30 Haier Group Corporation Financial Overview
Table 31 Irobot Corporation Company Overview
Table 32 Irobot Corporation Financial Overview
Table 33 LG Electronics Inc. Company Overview
Table 34 LG Electronics Inc. Financial Overview
Table 35 Midea Group Company Overview
Table 36 Midea Group Financial Overview
Table 37 Mitsubishi Electric Corporation Company Overview
Table 38 Mitsubishi Electric Corporation Financial Overview
Table 39 Panasonic Corporation Company Overview
Table 40 Panasonic Corporation Financial Overview
Table 41 Robert Bosch GmbH Company Overview
Table 42 Robert Bosch GmbH Financial Overview
Table 43 Samsung Electronics Co., Ltd. Company Overview
Table 44 Samsung Electronics Co., Ltd. Financial Overview
Table 45 Sharp Corporation Company Overview
Table 46 Sharp Corporation Financial Overview
Table 47 Whirlpool Corporation Company Overview
Table 48 Whirlpool Corporation Financial Overview
Market Segmentation
By Offering
- Products
- Services
By Technology
- Wi-Fi
- Bluetooth
- Near Field Communication (NFC)
- Others)
By Sales Channel
- Direct Sales Channel
- Indirect Sales Channel
By End User
- Residential
- Commercial
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
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