Dublin, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Smart Home Appliances Market, By Offering; By Product Type; By Technology; By Control Type; By Sales Channel; By End Use-Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global smart home appliance market is poised for remarkable growth, projected to reach a value of USD 143.97 billion by 2030, up from USD 59.69 billion in 2022, reflecting an impressive Compound Annual Growth Rate (CAGR) of 10.71%. Smart home appliances, equipped with decision-making capabilities, are gaining momentum as they offer enhanced convenience and efficiency in various domestic functions such as cooking, cleaning, and food preservation.
Growth Influencers:
The surge in global internet and smartphone penetration rates, reaching 68% in 2022, has spurred the adoption of smart appliances. Approximately 6.3 billion smartphone subscriptions were recorded globally, making remote monitoring of appliances through smartphones feasible and convenient. Additionally, the competitive and fast-paced nature of the smart home appliances market is fueled by constant technological advancements and design innovations that shape consumer preferences. For instance, Samsung Electronics Singapore launched a new dishwasher in July 2022, blending aesthetic design with smart features for a customized dishwashing experience.
Segmentation Overview:
The global smart home appliances market is segmented based on offerings, product types, and technology.
Offerings:
- Product
- Services
- Consulting
- Installation and Integration
- Repair and Maintenance
Services show the highest CAGR of 11.98% during the forecast period.
Product Type:
- Smart Kitchen Appliances
- Smart Household Appliances
- Smart Lighting
- Smart Heating and Cooling
- Energy Control Systems
- Smart Security
- Consumer Electronics
The smart household appliances segment led the market with a value of USD 26.13 billion in 2022.
Technology:
- Wired
- Wireless
The wireless segment dominated the market with a value of USD 32.56 billion in 2022 and the highest CAGR of 12.18%.
Regional Overview:
The global smart home appliances market covers North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia Pacific region commanded over 44% of the market share in 2022, exhibiting the fastest CAGR of 12.13%.
Competitive Landscape:
The market comprises established players such as AB Electrolux, GE Appliances, Koninklijke Philips NV, LG Electronics Inc., Midea, Haier, Panasonic Corp., Robert Bosch GmbH, and Samsung Electronics Co. Ltd. These companies hold significant market shares and have a strong global presence. For example, Haier Group Corporation signed an MoU with the General Authority for Investment and Free Zones (GAFI) in August 2022 to establish an industrial complex for household appliances production.
The global smart home appliance market report provides insights on various aspects, including market penetration, development, diversification, competitive landscape assessment, product development, innovation, pricing analysis, and manufacturing cost analysis.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 310 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $59.69 Billion |
| Forecasted Market Value (USD) by 2030 | $143.97 Billion |
| Compound Annual Growth Rate | 10.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/uxjc7
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