Smart Washing Machine Market: Current Analysis and Forecast (2022-2028)

The global smart washing machine market is expected to grow at a significant rate of around 20% during the forecast period. A smart washing machine is a clothes-washing appliance based on the Internet of Things (IoT) that allows users to monitor and control the washing process using smartphones or other electronic devices. The market is expected to expand because of the rising demand for commercial laundry equipment brought on by an increase in the number of laundry services. The market's expansion is also being fueled by an increase in the use of smart appliances in residential settings and a significant increase in household luxury spending. Smart appliances, like smart washing machines, are becoming more popular in both the residential and commercial sectors as smartphones and wireless internet connections become more common.

Additionally, smart washing machines are seeing an increase in sales because of Americans' increased interest in connected devices and smart homes. Digitized House Media says that three out of five Americans buy smart home products to let their smartphones monitor their homes.

Whirlpool, Samsung, LG Electronics, Electrolux, Haier Inc., Godrej Industries Ltd, IFB Industries Ltd., Panasonic Holdings Corporation, Mirc Electronics Limited, BSH Hausgerate GmbH are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst product, front load category to witness robust CAGR during the forecast period"

Based on the product, the market is bifurcated into front load and top load. Among these, the front-load category is to witness a higher CAGR during the forecast period owing to their large loading capacity and energy and water-saving features, front load washing machines are becoming increasingly popular with consumers. To increase their share of the smart washing machine market, manufacturers are entering the market with new product launches. For instance, Haier launched a new array of smart washing machines with six new variants. Its product "Super Drum Series,' a front-load fully automatic washing machine has the industry's 'first biggest ever drum'

"Amongst application, the residential to hold a significant share in the market in 2020"

On the basis of application, the market is bifurcated into residential and commercial. Among these, the residential category to hold a significant share of the market in 2020. This is mainly due to the establishment of these items in local locations helping in following and controlling the wash to stay away from superfluous wash cycles and water utilization, in this way causing more popularity among private shoppers.

On other hand, coin laundry facilities, commercial laundry services, and the hospitality industry all make extensive use of smart washing machines to cut down on labor costs and laundry expenses.

"APAC to hold a significant share in the market"

For a better understanding of the market adoption of the smart washing machine industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to increasing internet penetration and technological advancements in developing economies, such as China and India, which are anticipated to fuel the product demand in this region. According to the China Internet Network Information Center (CNNIC), internet penetration in China is 59.3%. New product developments across the industry are paving the way for higher adoption of these smart appliances.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

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