Connected Home Appliance Market in the US 2016-2020
About Connected Home Appliances
Smart home appliances allow users to monitor and control household activities from a remote location. These appliances allow for a convenient lifestyle and enhance the quality of life. They conserve energy and, therefore, help reduce electricity bills.
Connected home appliance companies are focusing on the untapped consumer segments to boost market revenue. The market is expected to witness rapid growth in the forecast period due to the increased awareness of connected devices.
Technavio’s analysts forecast the connected home appliance market in the US to grow at a CAGR of 39.47% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the connected home appliance market in the US 2016-2020. To calculate the market size, the report considers the revenue generated from the connected services provided by telecom operators, Internet service providers, managed service providers, and equipment providers for smart appliances.
Technavio Announces the Publication of its Research Report – Connected Home Appliance Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the Connected Home Appliance Market in the US: ARRIS, AT&T, Comcast, Honeywell, and Samsung.
Other Prominent Vendors in the market are: Bosch, Control4, Dacor, Electrolux, Frigidaire, GE, Haier, iControl Networks, Ingersoll-Rand, LG, Panasonic, Sprint, Thermador, Vivint, and Whirlpool.
Commenting on the report, an analyst from Technavio’s team said: “One trend inciting market growth is the use of Bluetooth and low-power Wi-Fi to operate smart home products. Low-power Wi-Fi has its significance with the combination of two products: Roost (a connected battery) and Homeboy (a rechargeable security camera). Roost converts a smoke detector into a connected smoke detector working through the low-power Wi-Fi IP, which is built as per the standard protocol. The main advantage is the easier and the fast communication that occurs due to Bluetooth technology, unlike Wi-Fi that consumes time due to cloud networking for transferring and retrieving the information.”
According to the report, one driver leading to the growth of this market will be the rising smartphone penetration. The US is the world's largest 4G market. Currently, it has 80% smartphone adoption rate with respect to its population. Increasing smartphone data usage is driving the connected home appliances market in remote monitoring and controlling of the devices.
Further, the report states that a major challenge for this market will be the lack of awareness and understanding of connected devices. The market is facing high end-consumer conservatism in terms of smart home technology. Consumers are unaware of the latest technological advances and the possible benefits. Therefore, in most cases, they are apprehensive about embracing smart home technology.
ARRIS, AT&T, Comcast, Honeywell, Samsung, Bosch, Control4, Dacor, Electrolux, Frigidaire, GE, Haier, iControl Networks, Ingersoll-Rand, LG, Panasonic, Sprint, Thermador, Vivint, Whirlpool.