Market Research Report
Global Smart Home Appliances Market Size study, by Product ( Smart Washing Machines, Smart Refrigerators, Smart air Purifiers, Smart TV, others), Distribution Channel (Online, Offline) and Regional Forecasts 2020-2027
|Global Smart Home Appliances Market Size study, by Product ( Smart Washing Machines, Smart Refrigerators, Smart air Purifiers, Smart TV, others), Distribution Channel (Online, Offline) and Regional Forecasts 2020-2027|
Published: March 25, 2021
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Smart Home Appliances Market is valued approximately USD 32.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 14.1 % over the forecast period 2020-2027. Smart Home Appliances are the automation for house or buildings that controls home appliances such as lighting, climate and entertainment systems. It is also used in home security such as access and alarm control systems. The rising home improvement projects, home remodeling, also rapid growth in adoption of internet services and wireless networks , assimilation of smart phones with home appliances has led the adoption of Smart Home Appliances across the forecast period. (Statistics) For Instance: according to the Leading Indicator of Remodeling Activity (LIRA) home improvement spending has increased by 6% annually in the last three years, .An average of more than USD 2000 were invested by owners on home remodeling projects in 2016 than in 2015.According to a 2019 Global Market Insights, Inc. survey, India's home improvement market revenue is projected to expand from USD 800 million in 2018 to about USD 1,120 million by 2025. .. However, high manufacturing and purchasing costs of smart home appliances impedes the growth of the market over the forecast period of 2020-2027. Also, with the trend of improving energy efficiency, favourable government policies , need to reduce electricity costs & demand for Smart Home Appliances is likely to increase the market growth during the forecast period.
The regional analysis of global Smart Home Appliances market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the growing house remodeling , building new house-old infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising incidences of thefts and improving houseold infrastructure would create lucrative growth prospects for the Smart Home Appliances market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Furthermore, years considered for the study are as follows:
Target Audience of the Global Smart Home Appliances Market in Market Study:
List of figures