Global Smart Home Appliances Market by Product (TVs, Washing Machines, Refrigerators, Air Purifiers), by Distribution Channel (Offline, Online) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
Global smart home appliance market was valued at USD 32.30 Billion in 2019. It is projected to grow at a compound annual rate (CAGR of 14.1%) between 2020 and 2027. The demand for smart home appliances is increasing due to the growing penetration of smart homes in both developed and developing regions. A growing number of home improvements in western countries is opening the door to new smart products for residential use. Due to rising mortgage and home prices, there is an increase in home renovations and home remodeling projects. This has boosted product demand. Rapid advancements and improvements in IT infrastructure and wireless communications allow for easy integration of home appliances that are compatible with mobile devices such as tablets, smartphones, laptops, or laptops. It allows consumers to remotely control and optimize refrigerator operations.
The Leading Indicator of Remodeling Activity, (LIRA) shows that home improvement spending has increased by 6% per year over the past three years. Additionally, home remodeling projects were more expensive for homeowners in 2016 than they were in 2015. This will increase the use of smart home appliances. Due to the increasing demand for smart and connected houses and home automation systems, the real estate market is expected to grow. Market growth is expected to be significant due to the increasing demand for push-button control, energy preservation, changing demographic preferences, as well as the need to protect the environment from pollution effluents such as greenhouse gases and toxic wastes.
Product Insights
With a 31.9% share in 2019, smart washers dominated this market. This can be attributed to the increased penetration of smartphones and wireless internet connections, which has helped increase the adoption of smart appliances such as smart washers across all sectors. As a source for luxury and convenience, the rising technological revolution is driving the development of smart homes. The region is seeing growth opportunities due to the increased adoption of automatic washing as an integral part of daily housekeeping activities among Europeans.
From 2020 to 2027, the smart purifiers category will grow at a 17.9% annual rate. Smart air purifiers are growing because of increased attention to hygiene, particularly as a result of the COVID-19 pandemic. The World Health Organization (WHO) states that 9 out 10 people inhale contaminated air with high levels of pollutants. According to the WHO, indoor and outdoor air pollution are responsible for approximately 7 million premature deaths each year. 3.8 million of these people die from indoor pollution. The smart air purifiers market will be driven by the increasing awareness about the benefits of air purifiers and the degradation in air quality in different regions.
Distribution Channel Insights
With a 64.5% share in 2019, offline dominated the market in terms of revenue. This can be attributed to the increased preference for specialty and branded shops, as well as convenience. The offline distribution channel is becoming more popular because it allows the customers to see the products firsthand, which makes it easier for them to inspect the quality and specifications. The brands were able to offer a unique shopping experience with traditional brick-and-mortar stores. Customers can also benefit from the assistance of an associate in the store, which helps them to better understand the product and make the right choice. Segment growth will be influenced by the availability of many products from different brands, as well as the ability to compare prices and product attributes.
Online distribution channels are expected to experience the fastest growth during the forecast period. The online sales of the product are driven by rapid digitalization and the expansion of ecommerce, particularly among young and millennial populations. The product will also be popular online due to the ease of transacting and a busy lifestyle. This will in turn increase the revenue from this channel during the forecast period. The growth of company portals has been driven by the availability of other options such as ecommerce websites and start up e-retailers. A slow rate of sales via company portals is expected due to discounts, festive sales, as well as the availability of a wide variety of products on ecommerce websites.
Regional Insights
With a market share of 42.5%, Asia Pacific was the dominant region in 2019, This can be attributed to the increasing penetration of internet and technological advancements in developing countries such as India and China. China Internet Network Information Center, (CNNIC) reports that internet penetration in China has reached 59.3%. The industry is seeing new product innovations that are helping to increase the adoption of smart appliances. Xiaomi Global Community, for example, launched a fully automated smart washing machine in China in December 2018.
Europe will be the regional market of choice in the future due to the increased adoption of smart appliances. The region is seeing a rise in demand for smart appliances due to consumers' increased willingness to buy energy-efficient products in the EU. In the coming years, the smart home market in Europe will account for more then 30%. This is driving demand for smart appliances for domestic purposes.
Market Share Insights & Key Companies
Global competition is high. High competition means that companies are constantly looking to expand their product ranges and adopt innovative technologies to satisfy consumer demand for smart products. The market is also growing due to the increasing number of companies that are entering the sector and strategizing for new product launches. The following are some of the major players in the smart home appliance market:
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Samsung
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BSH
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GE
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Whirlpool
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LG
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Electrolux
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Panasonic
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Miele & Cie
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Philips
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IRobot
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Ecovacs
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Neato
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Haier
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Midea
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Hisense
Up Market Research published a new report titled “Smart Home Appliances Market research report which is segmented by Product (TVs, Washing Machines, Refrigerators, Air Purifiers), by Distribution Channel (Offline, Online), By Players/Companies Hisense, Samsung, Philips, Midea, LG, Panasonic, Neato, Miele & Cie, Ecovacs, Whirlpool, GE, BSH, Haier, IRobot, Electrolux”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Smart Home Appliances Market Research Report |
By Product | TVs, Washing Machines, Refrigerators, Air Purifiers |
By Distribution Channel | Offline, Online |
By Companies | Hisense, Samsung, Philips, Midea, LG, Panasonic, Neato, Miele & Cie, Ecovacs, Whirlpool, GE, BSH, Haier, IRobot, Electrolux |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 236 |
Number of Tables & Figures | 166 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Smart Home Appliances Market Report Segments:
The market is segmented by Product (TVs, Washing Machines, Refrigerators, Air Purifiers), by Distribution Channel (Offline, Online).
Smart Home Appliances Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Smart Home Appliances Market
Overview of the regional outlook of the Smart Home Appliances Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Smart Home Appliances Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Smart Home Appliances Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. TVs
2. Washing Machines
3. Refrigerators
4. Air Purifiers
7. By Distribution Channel:1. Offline
2. Online
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Home Appliances Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Smart Home Appliances Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Home Appliances Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Home Appliances Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Home Appliances Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Home Appliances Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Home Appliances Market Size & Forecast, 2018-2028
4.5.1 Smart Home Appliances Market Size and Y-o-Y Growth
4.5.2 Smart Home Appliances Market Absolute $ Opportunity
Chapter 5 Global Smart Home Appliances Market Analysis and Forecast by Product
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Product
5.1.2 Basis Point Share (BPS) Analysis by Product
5.1.3 Absolute $ Opportunity Assessment by Product
5.2 Smart Home Appliances Market Size Forecast by Product
5.2.1 TVs
5.2.2 Washing Machines
5.2.3 Refrigerators
5.2.4 Air Purifiers
5.3 Market Attractiveness Analysis by Product
Chapter 6 Global Smart Home Appliances Market Analysis and Forecast by Distribution Channel
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Distribution Channel
6.1.2 Basis Point Share (BPS) Analysis by Distribution Channel
6.1.3 Absolute $ Opportunity Assessment by Distribution Channel
6.2 Smart Home Appliances Market Size Forecast by Distribution Channel
6.2.1 Offline
6.2.2 Online
6.3 Market Attractiveness Analysis by Distribution Channel
Chapter 7 Global Smart Home Appliances Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Home Appliances Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Smart Home Appliances Analysis and Forecast
9.1 Introduction
9.2 North America Smart Home Appliances Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Smart Home Appliances Market Size Forecast by Product
9.6.1 TVs
9.6.2 Washing Machines
9.6.3 Refrigerators
9.6.4 Air Purifiers
9.7 Basis Point Share (BPS) Analysis by Product
9.8 Absolute $ Opportunity Assessment by Product
9.9 Market Attractiveness Analysis by Product
9.10 North America Smart Home Appliances Market Size Forecast by Distribution Channel
9.10.1 Offline
9.10.2 Online
9.11 Basis Point Share (BPS) Analysis by Distribution Channel
9.12 Absolute $ Opportunity Assessment by Distribution Channel
9.13 Market Attractiveness Analysis by Distribution Channel
Chapter 10 Europe Smart Home Appliances Analysis and Forecast
10.1 Introduction
10.2 Europe Smart Home Appliances Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Smart Home Appliances Market Size Forecast by Product
10.6.1 TVs
10.6.2 Washing Machines
10.6.3 Refrigerators
10.6.4 Air Purifiers
10.7 Basis Point Share (BPS) Analysis by Product
10.8 Absolute $ Opportunity Assessment by Product
10.9 Market Attractiveness Analysis by Product
10.10 Europe Smart Home Appliances Market Size Forecast by Distribution Channel
10.10.1 Offline
10.10.2 Online
10.11 Basis Point Share (BPS) Analysis by Distribution Channel
10.12 Absolute $ Opportunity Assessment by Distribution Channel
10.13 Market Attractiveness Analysis by Distribution Channel
Chapter 11 Asia Pacific Smart Home Appliances Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Smart Home Appliances Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Smart Home Appliances Market Size Forecast by Product
11.6.1 TVs
11.6.2 Washing Machines
11.6.3 Refrigerators
11.6.4 Air Purifiers
11.7 Basis Point Share (BPS) Analysis by Product
11.8 Absolute $ Opportunity Assessment by Product
11.9 Market Attractiveness Analysis by Product
11.10 Asia Pacific Smart Home Appliances Market Size Forecast by Distribution Channel
11.10.1 Offline
11.10.2 Online
11.11 Basis Point Share (BPS) Analysis by Distribution Channel
11.12 Absolute $ Opportunity Assessment by Distribution Channel
11.13 Market Attractiveness Analysis by Distribution Channel
Chapter 12 Latin America Smart Home Appliances Analysis and Forecast
12.1 Introduction
12.2 Latin America Smart Home Appliances Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Smart Home Appliances Market Size Forecast by Product
12.6.1 TVs
12.6.2 Washing Machines
12.6.3 Refrigerators
12.6.4 Air Purifiers
12.7 Basis Point Share (BPS) Analysis by Product
12.8 Absolute $ Opportunity Assessment by Product
12.9 Market Attractiveness Analysis by Product
12.10 Latin America Smart Home Appliances Market Size Forecast by Distribution Channel
12.10.1 Offline
12.10.2 Online
12.11 Basis Point Share (BPS) Analysis by Distribution Channel
12.12 Absolute $ Opportunity Assessment by Distribution Channel
12.13 Market Attractiveness Analysis by Distribution Channel
Chapter 13 Middle East & Africa (MEA) Smart Home Appliances Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Smart Home Appliances Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Smart Home Appliances Market Size Forecast by Product
13.6.1 TVs
13.6.2 Washing Machines
13.6.3 Refrigerators
13.6.4 Air Purifiers
13.7 Basis Point Share (BPS) Analysis by Product
13.8 Absolute $ Opportunity Assessment by Product
13.9 Market Attractiveness Analysis by Product
13.10 Middle East & Africa (MEA) Smart Home Appliances Market Size Forecast by Distribution Channel
13.10.1 Offline
13.10.2 Online
13.11 Basis Point Share (BPS) Analysis by Distribution Channel
13.12 Absolute $ Opportunity Assessment by Distribution Channel
13.13 Market Attractiveness Analysis by Distribution Channel
Chapter 14 Competition Landscape
14.1 Smart Home Appliances Market: Competitive Dashboard
14.2 Global Smart Home Appliances Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hisense
14.3.2 Samsung
14.3.3 Philips
14.3.4 Midea
14.3.5 LG
14.3.6 Panasonic
14.3.7 Neato
14.3.8 Miele & Cie
14.3.9 Ecovacs
14.3.10 Whirlpool
14.3.11 GE
14.3.12 BSH
14.3.13 Haier
14.3.14 IRobot
14.3.15 Electrolux