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Smart Home Appliances Market

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 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)
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Smart Home Appliances Market Insights
    1. Industry Value Chain Analysis
      1. Sales/Retail Channel Analysis
      2. Profit Margin Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Smart Home Appliances Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
        1. Smart Washing Machines
        2. Smart TVs
        3. Smart Air Purifiers
        4. Smart Refrigerators
        5. Others
      2. By Technology
        1. Wi-Fi
        2. Bluetooth
        3. Radio Frequency Identification (RFID)
        4. Near-Field Communication (NFC)
        5. ZigBee
        6. Others (Cellular Technology, Z Wave, Insteon, HomeRF, and EnOcean)
      3. By Distribution Channel
        1. Online
          1. E-commerce Websites
          2. Company Owned Websites
        2. Offline
          1. Supermarkets / Hypermarkets
          2. Specialty Stores
          3. Factory Outlets
          4. Other Retail Based Stores
      4. By Region
        1. North America
        2. Europe
        3. The Asia-Pacific
        4. Latin America
        5. The Middle-East and Africa
  6. North America Smart Home Appliances Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Technology
      3. By Distribution Channel
      4. By Country
        1. United States
        2. Canada
  7. Europe Smart Home Appliances Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Technology
      3. By Distribution Channel
      4. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  8. The Asia Pacific Smart Home Appliances Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Technology
      3. By Distribution Channel
      4. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  9. Latin America Smart Home Appliances Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Technology
      3. By Distribution Channel
      4. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  10. The Middle East & Africa Smart Home Appliances Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product Type
      2. By Technology
      3. By Distribution Channel
      4. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of Middle East & Africa
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Global Players Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Business Expansion, Agreement, Partnership and Product Launch)
  12. Impact of COVID-19 on Global Smart Home Appliances Industry
  13. Consumer Behavior Analysis
    1. Demographic Analysis
    2. Consumer Trends and Preferences
    3. Consumer Spending on Smart Home Technologies
    4. Factors Affecting Buying Decision
    5. Consumer Product Adoption
    6. Observations & Recommendations
  14. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. AB Electrolux
    2. BSH Home Appliances Corporation
    3. General Electric Company
    4. Haier Group Corporation
    5. Irobot Corporation
    6. Koninklijke Philips N.V.
    7. LG Electronics Inc.
    8. Xiaomi Corporation
    9. Midea Group
    10. Mitsubishi Electric Corporation
    11. Panasonic Corporation
    12. Robert Bosch GmbH
    13. Samsung Electronics Co., Ltd.
    14. Sharp Corporation
    15. Whirlpool Corporation
  15. Key Strategic Recommendations

Note:

  1. Financial Information of non-listed companies will be provided as per the availability
  2. 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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Frequently Asked Questions (FAQs):

Ans: The smart home appliances market reached USD 34.0 billion in 2021.
Ans: The major factors driving the growth of the smart home appliances market are rising demand for home automation and launch of 5g technology and penetration of cloud computing.
Ans: The key players in the 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.
Ans: The residential segment accounted for the largest share in the smart home appliances market.
Ans: Asia-Pacific has the largest share in the smart home appliances market.