Global Smart Washing Machine Market by Product (Top Load, Front Load), by Application (Commercial, Residential) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global smart washing machine market was valued at USD 4.90 Billion in 2019. It is projected to grow at a compound annual rate (CAGR of 20.5%) between 2020 and 2027. The market is expected to grow due to rising demand for commercial laundry equipment, owing to the increase in laundry services.

The market is also seeing a rise in household luxury spending and greater adoption of smart devices in the residential sector. The adoption of smart appliances such as smart washers is increasing due to greater penetration of smartphones as well as wireless internet connections.

As technology advances in smart homes, there is an increase in demand for connected appliances such as smart washers as a source luxury and convenience. The region has seen a rise in adoption of automatic washing as an integral part of daily housekeeping activities.

Due to increasing popularity of connected devices, smart washing machines are seeing increased sales due to Americans' higher level of indulgence in smart devices and smart home. The Digitized House Media reports that 3 out 5 Americans buy smart home products to allow them to monitor their homes from their phones. NPS Publishing's blog states that smart home penetration was 7.5% for 2018, and will rise to 19.5% by 2022. Increasing movement in the industry is increasing the availability of smart appliances in homes, which will drive sales for smart washers.

Manufacturers are now compelled to create products that use less water because of the increasing water scarcity around the world. These smart washing machines can be more water-efficient than conventional machines by having Energy Star ratings. Samsung's 6.0 cu. ft. FlexWash(tm), Washer in Black Stainless Steel Model with an Energy Star rating of product and Wi-Fi connectivity, uses 4,278 gallons water per year. Conventional washing machines can wash about 300 loads per year and use approximately 12,000 gallons of water per year. Consumers are now choosing technology-integrated washing machines to combat water scarcity.

Product Insights

In 2019, front-load washing machines accounted for 54.6% of the market share. They are expected to experience the fastest CAGR over the forecast period. The product has seen a rise in popularity despite the fact that it is more expensive.

Because of their high loading capacity and water- and energy-efficiency features, front load washers are becoming more popular with consumers. Manufacturers are entering the market with new product launches to increase their share of smart washing machine sales. Xiaomi Corporation, for example, launched the MIJIA smart washer machine in China in 2018 with a front load capacity 10kg.

From 2020 to 2027, top load washers are expected to grow at a 23.5% CAGR. Top load washers are highly sought after due to their ease of use and lower prices. This is especially true in emerging economies, where there is a large middle class customer base. These machines are being used in both commercial and residential settings due to the increasing use of smart inverter technology. The Fischer & Paykel Smart Drive toploaders have a DC motor that starts softly. These top loaders are powered by an 800-watt inverter. This is driving top load smart washing machines to be more popular around the world.

Capacity Insights

The smart washing machine, which has a capacity between 6-10kg, held the largest share at 65.6% in 2019, and is expected to grow the fastest during the forecast period. Due to increasing urbanization, the demand for washing machines of 7.5kg has increased. Smart washing machines that can handle loads of 6-10kg have seen a higher acceptance due to increased water conservation. A washing cycle with 7.5kg laundry takes less water, electricity and detergent than two cycles with 3.5kg. Smart washers that can wash 6-10kg of laundry are more popular.

From 2020 to 2027, smart washing machines that have a capacity of more than 10kg are expected to grow at a rate of 23.7%. Because they can wash a lot of clothes simultaneously, these products are mostly used commercially. The demand for large-capacity washing machines is increasing due to the growing presence of commercial laundry services around the world.

The increased popularity of coin laundry services in the U.S. has led to an increase in front-load washers with 8-22 kg capacities. National and regional demographics show that renters are the main users of coin laundry services. According to U.S. Census data in 2017, 34% of the 120 million households rented their homes in the country. This situation indicates lucrative growth opportunities for washing machines that have a higher load capacity. Large families that have more than five members often choose washing machines with a larger load capacity. Smart washing machines that weigh 6-10kg are expected to grow in the future.

Application Insights

Due to the rising disposable income in developing countries like Brazil, China, India and India, the residential segment made up 61.9% of the total market share. Smart products are easy to use, which bodes well for product acceptance. These products can be installed in residential areas to track and control the wash, which helps avoid excessive water consumption and wash cycles. This will result in a higher demand from residential customers.

From 2020 to 2027, the commercial application market is expected to grow at a 23.2% CAGR. The market is seeing a rise in demand for commercial laundry services that use smart washers to increase efficiency and convenience. The sector is expected to see a rapid shift towards online and coin laundry in emerging Asian Pacific economies.

In addition, hospitals and hotels are experiencing a growing demand for laundry services that is fast and convenient. This drives up the demand for smart washing machines for commercial applications.

Regional Insights

Asia Pacific is projected to grow at a 20.8% CAGR over the forecast period. This region is expected to see an increase in internet penetration and technological advances in developing countries like India and China. China Internet Network Information Center (CNNIC) reports that internet penetration in China stands at 59.3%.

The industry is seeing new product innovations that will lead to a higher adoption rate of these smart appliances. Xiaomi Global Community, for instance, launched a fully automated smart washing machine in China in December 2018. It has a 10 kg load capacity. The machine is equipped with the newest BLDC variable frequency motor, and its price is around USD 290.

North America accounted for 26.0% of global smart appliance adoption in 2019. The increased consumer indulgence in water-saving and energy-efficient products in the U.S. is driving up demand for smart washers in this region. Smart washing machines are also becoming more popular due to the increasing number of smart homes in this region. The Digital Market Outlook predicts that 68.5 million smart homes will be built in the United States by 2024.

Market Share Insights & Key Companies

High competition is a hallmark of the global market. To increase product offerings, market players are pursuing mergers and acquisition strategies.

Companies are also focusing on product innovation in order to expand their product lines, especially in developing countries, to meet rising demand. TCL Corporation, for instance, launched new smart home appliances in India in 2019. TCL G-series and K-series washing machines were introduced by the company. The following are some of the major players in smart washing machine markets:

• Honeywell International Inc.

• Koninklijke Philips N.V.

• Sunbeam Products, Inc.

• Xiaomi Corporation

• Blueair

• COWAYCO. LTD.

• Whirlpool

• Americair Corporation

• Sharp Corporation

• Dyson

Up Market Research published a new report titled “Smart Washing Machine Market research report which is segmented by Product (Top Load, Front Load), by Application (Commercial, Residential), By Players/Companies Blueair, Americair Corporation, Dyson, Honeywell International Inc, Xiaomi Corporation, Koninklijke Philips NV, COWAYCO LTD, Sharp Corporation, Whirlpool, Sunbeam Products Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

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 Washing Machine Market Report Segments:

The market is segmented by Product (Top Load, Front Load), by Application (Commercial, Residential).

Smart Washing Machine 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 Washing Machine Market

Overview of the regional outlook of the Smart Washing Machine 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 Washing Machine Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Smart Washing Machine Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Top Load

                2. Front Load

                1. Commercial

                2. Residential

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Smart Washing Machine 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.

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• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Smart Washing Machine 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.