The advent of smartphones
has changed the world dramatically. With access to almost everything on the go, the world is getting more and more connected everyday. Consumers now want to have access to everything at the click of a key on their smart phones or tablets. Smart home appliances are addressing this need by providing connectivity in such a way that they can be controlled remotely from a smart phone or tablet or computer. The use of smart home appliances also results in significant energy savings and this is giving way to an increase in the demand for energy efficient devices such as air conditioners, washing machines, microwave ovens and so on. The demand for energy on a global level is increasing at a rapid rate with limited resources available to keep up with this demand. Smart home appliances have the ability to contribute to addressing this critical issue by aiding in efficient use of energy.
Factors such as ease and convenience of use and energy savings are just some of the factors responsible for driving the growth of this market. The high prices of smart appliances are one of the challenges in this market, but with advancements in technology on all fronts, the impact of this factor is expected to reduce with time.
The market is expected to grow at a healthy double digit growth rate till the end of the forecast period considered in this report. The smart home appliances market is expected to cross $35 billion by 2021.The Smart Home Appliances market
can be segmented on the basis of connectivity
- RFID and Others
In terms of the type of appliances, the Smart Home Appliances market has been segmented across the following
- Home Appliances
- Kitchen Appliances
Currently, North America accounts for the largest share of this market followed by Europe. Asia Pacific is expected to attain the highest share by the end of the forecast period. The market has been segmented based on the following geographies
- North America,
- South America,
- APAC, Europe,
- Middle East
Given the requirements of what actually makes a home appliance smart, the smart home appliance market has a different mix of players. From the traditional home appliance manufacturers to telecom operators and electronic device manufacturers, this market has the potential for everyone.