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Connected Home Appliances Market Segmented By type such as Laundry Appliances, Water Treatment Appliances, Kitchen Appliances, Others with technology such as Wi-Fi, NFC, Bluetooth
As per the basic concept of connected devices, any home appliance that has the feature of Internet connectivity can be termed as a connected home appliance. The special features offered by connected home appliances these days include accessibility from any remote location using mobile devices such as smartphones, tablets, and laptops.
Connected home appliances can not only be controlled from a remote location, but also can be monitored from a remote location owing to features such as appliance health and service life, among others. As connected home appliances are energy-efficient solutions compared to their traditional counterparts, the adoption of connected home appliances is significantly high across the globe.
One of the key drivers of the connected home appliances market is an increase in awareness and the need for security in homes, which has led to the adoption of connected home appliances by consumers across the globe. Moreover, increase in the number of technology enthusiasts across the world has led to the growth of the connected home appliances market. Another driver of the connected home appliances market is the increasing adoption of smartphones, which has, in turn, boosted the adoption of connected home appliances.
However, low penetration of Internet infrastructure and affordability issues prevalent in most of the underdeveloped as well as certain developing regions are some of the factors hampering the growth of the connected home appliances market in these regions.
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Examples of some of the market participants in the global connected home appliances market identified across the value chain include AT&T Inc.; Honeywell International, Inc.; ARRIS Group Inc.; Comcast Corporation;, Robert Bosch GmbH; Samsung Group; Whirlpool Corporation and General Electric.
On the basis of geography, the global connected home appliances market can be segmented into North America, Latin America, Europe, CIS & Russia, Asia Pacific excluding Japan, Japan, and the Middle East & Africa.
Among all these regions, the Asia Pacific excluding Japan connected home appliances market is expected to hold a major market share of the global connected home appliances market during the forecast period due to the presence of a large number of connected home appliances market players in the region as well as the increased focus on the innovation of existing connected home appliances in the region.
The Asia Pacific excluding Japan connected home appliances market is expected to be the fastest growing during the forecast period due to increased technology spending in countries such as India and Greater China for connected home appliances as well as the high demand for cost-effective advanced home appliances in the Asia Pacific excluding Japan connected home appliances market.
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