Global Smart Appliances Market: Overview
The next-generation appliances that utilize advanced web-enabled built-in computer and communication technology are known as smart appliances. These appliances have advanced features for processing and receiving along with smartphones, tablets, and laptops that transmit information. The smart appliances reduce the energy consumption rate and low-frequency operation of the device using real-time communication. The smart appliances provide features such as security, efficiency, and convenience.
Global Smart Appliances Market: Growth Factors
The rising demand for energy-efficient appliances due to the increasing prices and the energy optimization need drive the global smart appliances market growth. The government regulations regarding energy consumption are one of the major factors responsible for the growth of the global smart appliances market. The advancements in the kitchen appliances are also expected to influence the global market. The changing lifestyles and wireless solution availabilities escalate the global market growth. The elevating digitization and machine-to-machine communication provide an opportunity for the global smart appliance market growth. The other factors such as growing economy, high disposable income levels in different regions, cost-effective home appliances, busier lifestyles, and increasing labor cost stabilize the global market growth. The rising digitalization, tech-savvy consumers, smart appliances demand and appliances knowledge boost the growth of the global appliances market growth. The growing awareness and technological advancements are expected to influence the global market.
Global Smart Appliances Market: Segmentation
The smart appliances market is bifurcated on the basis of smart home appliances, end user, smart kitchen appliances, technology, and regions. The smart home appliances segment is further categorized into the air conditioner, vacuum cleaner, washer, and dryer. The smart kitchen appliances segment is further divided into freezer, dishwasher, and refrigerator. The technology segment is further bifurcated into Wi-Fi, radio frequency identification, cellular technology, Zigbee, Bluetooth, Insteon, HomeRF, EnOcean, and Z-wave. The regional segmentation includes Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa.
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Global Smart Appliances Market: Regional Analysis
The rising demand for smart appliances in the regions such as India, Japan, and China in Asia Pacific is expected to drive the global smart appliances market. The US accounts for the largest share of the global market. The technological advancements and growing awareness among people are the major factors for the growth in the US market. The smart connected appliances market in North America is expected to grow at a rapid rate as compared to the other regions due to the escalating demand for smart thermostats. The increasing internet and smartphone usage boost the global smart appliances market in the regions including Mexico and Canada.
Global Smart Appliances Market: Competitive Players
The major players in the global smart appliances market include Panasonic, Dacor, Mitsubishi Electric, Friedrich, Midea, Fujitsu General, Videocon, Voltas, Electrolux, Haier, and Robert Bosch. The other players in the global market include Whirlpool Corp., Panasonic Corp., Major General Electric Co., BSH Hausgerate GmbH, Koninklijke Philips N.V., LG Electronics Inc., and Samsung Electronics Co. Ltd.