Call for Precise Comfort to drive the Connected Home Appliances Market
Published On : Jun 08, 2021
According to Persistence Market Research, the global connected home appliances market will witness a whopping CAGR in the next decade.
The smartphone and social media enthusiasts all over the world are the major drivers to connected home appliances market. The basic advantage of connected home appliances is that they, apart from being controlled remotely, are also capable of being monitored remotely. Moreover, these appliances are designed such that they are energy-efficient in comparison with conventional counterparts.
Connectivity is something that could never be done without in the upcoming period. In fact, the future scenario will be unimaginable without these gizmos around us. So, everything – right from the dusting device to the ones used in showcasing culinary expertise, depends on connectivity as of now. Moreover, the fast-paced lives have prompted people to lay their hands on more number of connected home appliances. Also, the precision offered by these devices can’t be compared with human intervention. In all, connected home appliances are there to rule the roost in the near future.
Additionally, with more number of women joining the workforce in the developing economies like India (where a woman’s income was looked upon as a secondary source of income till yesteryears) will help in passing on the baton of growth of connected home appliances hereon.
However, the under-developed economies are still facing the brunt of poor internet connectivity. These factors are bound to restrain the connected home appliances market going forward if the connectivity is not improved.
Connected Home Appliances market Segmentation
By type, the connected home appliances market consists of laundry appliances (smart dryers, smart washers, and likewise), water treatment appliances (smart refrigeration, smart cooking appliances (wall ovens, ranges, range hoods and vents), and cleaning appliances (dishwashers, trash compactors, and disposers)), and kitchen appliances (replacement smart filters, smart water heaters, smart water softeners, and water filtration systems), and others (smart air purifiers & filters, smart compactors, and smart LED lighting). Technology-wise, it’s NFC, Bluetooth, and Wi-Fi.
With the number of smartphone users increasing day after day, the demand for connected home appliances is bound to escalate, thereby catalysing the connected home appliances market.
North America and Europe are at the matured stage of connected home appliances market. However, the Asia-Pacific is expected to grow at the fastest rate in the forecast period. This could be attributed to the countries like Japan, South Korea, China, and India being a hub to various companies dealing with connected home appliances. LATAM and MEA are also expected to catch up in the upcoming period with increasing awareness regarding the same.
How about the Competitors?
The key players in the connected home appliances market include Comcast Corporation, ARRIS Group Inc., Honeywell International, Inc., AT&T Inc., Robert Bosch GmbH, Whirlpool Corporation, Samsung Group, and General Electric. Coming to developments, tech giants like Apple, Google, Amazon, in December 2019, entered into collaboration with companies dealing with smart appliances for developing as well as promoting adoption of the connected home appliances. A year before, i.e. in the year 2018, Siemens AG did add a few novel functionalities like remote heating, ventilation, and HVAC control to the trend of connected home appliances.
Connected Home Appliances Market: Global Industry Trend Analysis 2013 to 2017 and Forecast 2018 - 2028View Report