PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1106141
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1106141
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Global Smart Home Appliances Market to Reach $81.8 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Smart Home Appliances estimated at US$33 Billion in the year 2020, is projected to reach a revised size of US$81.8 Billion by 2027, growing at a CAGR of 13.9% over the analysis period 2020-2027. Smart Washing Machines, one of the segments analyzed in the report, is projected to record a 13.6% CAGR and reach US$25.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Smart Air Purifiers segment is readjusted to a revised 15.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $7.9 Billion, While China is Forecast to Grow at 17.5% CAGR
The Smart Home Appliances market in the U.S. is estimated at US$7.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.9 Billion by the year 2027 trailing a CAGR of 17.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11% and 13.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12% CAGR.Smart TVs Segment to Record 14.6% CAGR
In the global Smart TVs segment, USA, Canada, Japan, China and Europe will drive the 14.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.8 Billion in the year 2020 will reach a projected size of US$14.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
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