PUBLISHER: The Business Research Company | PRODUCT CODE: 1217096
PUBLISHER: The Business Research Company | PRODUCT CODE: 1217096
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“Smart Washing Machines Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart washing machines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart washing machines ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The smart washing machines market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: General Electric Co.; LG Electronics Inc.; Samsung Electronics Co. Ltd.; Whirlpool Corp.; Robert Bosch GmbH
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Major players in the smart washing machine market are: General Electric Co., LG Electronics Inc., Samsung Electronics Co. Ltd., Whirlpool Corp., Robert Bosch GmbH, Haier Consumer Electronics Group Co. Ltd., Panasonic Corp., Siemens AG, AB Electrolux, and Whirlpool.
The global smart washing machines market will grow from $15.93 billion in 2022 to $17.06 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The smart washing machines market is expected to grow to $22.26 billion in 2027 at a CAGR of 6.9%.
The smart washing machines market consists of sales of top load smart washing machines and front load smart washing machines. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
A smart washing machine is defined as a machine that helps the user to control the washing process remotely. Smart washing machines are connected to the internet and smartphone, or other smart devices through the cloud or app. The connectivity gives more control to the machine, and the user can decide its activity through the commands on the app or through other means like voice.
Asia Pacific was the largest region in the smart washing machines market in 2022. Western Europe was the second-largest region in the smart washing machines market. The regions covered in the smart washing machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of smart washing machine is a top load, and front load that is applied in both residential, and commercial use. The top load smart washing machine allows loading the washing machine with clothes from the top. Smart washing machines use different kinds of connectivity such as Wi-Fi, Bluetooth, near-field communication, and other connections.
The increasing need for energy-efficient washing machines will drive the growth of the smart washing machines market in the forecast period. Smart washing machines increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient washing machines can be attributed to the stringent government regulations on electric home machines and advances in technology. According to the U.S. Energy Information Administration (EIA), the demand for global energy will grow by 37% due to a rise in energy requirements per household by 2035. Energy-efficient machines are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy-efficient machines. Thus, smart washing machines will drive the market in the forecast period.
Smart washing machine utilizes wireless technology (such as WiFi, 3G, Bluetooth, etc.) to communicate and interact with other devices or networks. Therefore, the cost of the smart washing machine is high compared to the conventional washing machine. The smart washing machine's cost ranges from $650 to $2500 compared to conventional ones which range from $100 to $1000. The cost will also depend on the size of the washing machine, with larger units fetching higher prices, such as a Samsung 16kg front load washing machine, which retails for around $3,000. Although the higher expense of a smart washing machine with a comparable build quality to a regular washing machine is not unreasonable, the high cost of these washing machines would hinder the demand and growth of the smart washing machine market.
Artificial Intelligence is expected to be a trend in the smart washing machine market. AI uses a simulation of human intelligence into the machine. These machines are programmed with AI technology to think and function like humans. For instance, LG electronics newly released smart washing machine LG think which uses Artificial Intelligence and analyses the wash load and suggests the wash settings accordingly. Similarly, Samsung released the Samsung Grande AI washer and drier in January 2020 which uses Artificial Intelligence for effective ways to laundry and connect with the drier to ease the process of laundry. AI-programmed smart washing machines are expected to ease the process of laundry.
The countries covered in the smart washing machine market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The smart washing machine market research report is one of a series of new reports from The Business Research Company that provides smart washing machine market statistics, including smart washing machine industry global market size, regional shares, competitors with a smart washing machine market share, detailed smart washing machine market segments, market trends and opportunities, and any further data you may need to thrive in the smart washing machine industry. This smart washing machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.