Smart Home Appliances Market Research Report, Types, Technology, Application and Region Forecast to 2023
Market
Highlights
In this rapidly changing world of technology, Smart Home
Appliances Market is projected to show major growth
prospects during the forecast period. Changing consumer preferences and
increasing demand for innovations are the major factors driving the growth of
smart home appliances market.
As compared to other
regions, the smart home appliances market in North America is expected to
witness significant growth and hold the largest market share during the
forecast period. U.S and Canada are anticipated to drive the growth of smart
home appliances market. This is owing to the presence of large number of
established key players and investments in smart grid projects in that region.
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In addition to
this, the region also has a well-established infrastructure which allows higher
penetration of devices which ultimately provides high speed connectivity and is
expected to be a major factor for the growth of smart home appliances market.
Increasing government initiatives for the adoption of energy efficient devices
is another factor contributing to the growth of smart home appliances market.
The smart home
appliances market is growing rapidly over 23% of CAGR and is expected to reach at approx.
USD 33 Billion by the end of forecast period.
Taste
the market data and market information presented through more than 30 market
data tables and figures spread over 100 numbers of pages of the project report.
Avail the in-depth table of content TOC & market synopsis on “Smart Home
Appliances Market Research Report-Forecast to 2023”.
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Smart Home
Appliances Market Segmentation
The smart home
appliances market has been segmented on the basis of product and
technology. The product segment is further bifurcated into refrigerators, dish
washers, air conditioners and others. Out of these, the refrigerators segment
is expected to dominate the smart home appliances market. This is owing to the
key players in smart home appliances market emphasizing on development of next
generation refrigerators.
The
prominent players in the smart home appliances market are – Electrolux
(Sweden), Haier Group Corporation (China), LG Electronics, Inc. (Korea),
Samsung Group (Korea), Whirlpool Corporation (U.S.), Dacor (U.S.), Fujitsu
General Limited (Japan), Panasonic Corporation (Japan), Robert Bosch GmbH
(Germany) and Voltas Limited (India) among others.
Market Research
Analysis:
The global smart home
appliances market, by geography, has been segmented into North America, Europe,
Asia Pacific, Middle East and Africa (MEA), and South America. In the global
smart home appliances market, Asia Pacific is anticipated to witness relatively
faster adoption and is expected to grow at the highest CAGR during the forecast
period as compared to other regions. Within Asia Pacific, smart home appliances
market is projected to contribute faster to the growth of revenue backed by
increasing demand for innovative products and growing demand for smart homes in
countries such as Japan, China and India
Across Europe, countries
including Germany, France and the U.K. are anticipated to drive the growth of
smart home appliances market. In Europe, the high standards of living of people
have led to an increase in investments in smart homes and hence is the major
driving factor for the growth of smart home appliances market. The presence of
advanced infrastructure and with the increasing adoption of technology and
technological advancements in numerous countries are other factors driving the
market growth of smart home appliances market.
Smart home appliances market in the South
America region is anticipated to witness relatively slower market growth.
However, Brazil and Argentina among other countries are projected to witness
slow yet steady growth. Smart home appliances market in Middle East and Africa
occupies a relatively smaller pie of the global Smart home appliances market.
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