These collaborations between popular players and online retailer Amazon will help increasing the popularity and growth of smart appliances during the forecast period.
Global Smart Appliances: 23.48% Growth
Sandler Research has forecast the global smart appliances market to grow at a CAGR of 23.48% during the period 2016-2020. According to a smart appliances market report which they have just published, wireless technologies like Wi-Fi, Bluetooth, and ZigBee can be used in or accessed by smartphones and tablets. But the inclusion of these technologies in home appliances (like air conditioners) is a means of product differentiation by manufacturers that is enticing tech-savvy consumers.
The global smart appliances market is characterized by the presence of several large and small vendors. The competition in the market is likely to increase in tandem with investments in R&D made by the vendors in the market space. Established brands are facing competition from Lenovo and Xiaomi, as both are entering into the smart home devices market space. Companies are also spending a significant amount on R&D to develop innovative and improved quality products, and stay abreast of emerging technologies that have a bearing on their product lines.
The synthesis, analysis, and interpretation of information about the global smart appliances market has been collected from specialized sources and brought together under the heading of home, kitchen and large appliances vertical segment. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
The Global Smart Appliances Market 2016-2020 report has been prepared based on an in-depth market analysis with inputs from industry experts and covers the present scenario and the growth prospects of the global smart appliances market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of smart appliances worldwide.
Smart Appliances: Key Players
The following companies are the key players in the global smart appliances market: Electrolux, Haier, LG, Samsung, and Whirlpool. Other prominent vendors in the market are: Dacor, Friedrich, FujitsuGgeneral, Midea, Mitsubishi Electric, Panasonic, Robert Bosch, Videocon, and Voltas.
The global household appliances market is experiencing steady growth with the growing middle-class economy, improved disposable income levels in a number of countries, increase in labor costs, busier lifestyles, and the availability of a range of home appliances at competitive prices. With increasing digitalization, consumers have become tech-savvy and have strong knowledge regarding the use and benefits of all modern appliances.
Sandler has published a related report called Global Smart Kitchen Market 2016-2020, Compared to traditional appliances, smart kitchen appliances consume less energy, as these are capable of providing continuous feedback to the user on energy consumption. Energy saving will be a major factor that will drive growth in this market. It will also lead to governments encouraging adoption of smart kitchen appliances among individual consumers.