Dublin, July 27, 2022 (GLOBE NEWSWIRE) -- The "Global Smart Home Appliances Market, By Product (Washing Machine, Refrigerators, Television, Air Conditioner, Vacuum Cleaners, Others), By Distribution Channel, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The global smart home appliances market is expected to witness an impressive CAGR in the forecast period, 2023-2027. Factors such as the rise in construction of smart homes in developing and developed countries and increased expenditure on home improvement products primarily drives the demand for the global smart home appliances market.
A rise in the investments by the public and private players to advance the IT infrastructure and wireless communication network in their respective countries is expected to influence the global smart home appliances market demand positively. The improved standards of living and demand for luxury goods such as air conditioners, washing machines, and others are also expected to fuel the market growth in the forecast period.
Modern household appliances equipped with user interfaces that frequently carry out their jobs well and offer cutting-edge user experiences are referred to as smart appliances. This equipment could include smart air conditioners, smart security systems, smart televisions, etc. These appliances are frequently linked together using Bluetooth, Wi-Fi, or voice recognition technology.
The global smart home appliances market is segmented into product, distribution channel, competitive landscape, and regional distribution. Based on product, the market is divided into washing machine, refrigerators, television, air conditioner, vacuum cleaners, and others. The smart washing machines segment is anticipated to capture the highest market share in the forecast period, 2023-2027. It is projected that the market will rise due to the surge in demand for technologically advanced home appliances that are effective in operation and have a convenient user interface that can be operated via a connected smartphone app.
The major market players operating in the global smart home appliances market are Samsung Electronics Co., Ltd., BSH Hausgerate GmbH, General Electric Company, Whirlpool Corporation, LG Electronics Inc., Panasonic Corporation, Haier Group Corporation, Electrolux AB, Breville Group Limited, Voltas Limited, among others.
Years considered for this report:
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Historical Years: 2017-2020
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Base Year: 2021
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Estimated Year: 2022E
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Forecast Period: 2023F-2027F