Global Smart Appliances Market 2016-2020
About Smart Appliances
The global household appliances market is experiencing steady growth with the growing middle-class economy, improved disposable income levels in a number of countries, increase in labor costs, busier lifestyles, and the availability of a range of home appliances at competitive prices. With increasing digitalization, consumers have become tech-savvy and have strong knowledge regarding the use and benefits of all modern appliances. Also, the influence of social media on the Gen Y and the millennial population is further encouraging them to purchase appliances that can provide convenience and comfort.
Technavio’s analysts forecast the global smart appliances market to grow at a CAGR of 23.48% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart appliances market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of smart appliances worldwide.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Appliances Market 2016-2020
Technavio recognizes the following companies as the key players in the global smart appliances market: Electrolux, Haier, LG, Samsung, and Whirlpool
Other Prominent Vendors in the market are: Dacor, Friedrich, FUJITSU GENERAL, Midea, Mitsubishi Electric, Panasonic, Robert Bosch, Videocon, and Voltas
Commenting on the report, an analyst from Technavio’s team said: “Amazon introduced the Amazon Dash Button in 2015, which is an electric device designed to make ordering products from the Amazon website easier and faster. By sticking these Dash Buttons on appliances like dishwashers or washers, consumers can order products like washing powders from Amazon with just one touch. These collaborations between popular players and online retailer Amazon will help increasing the popularity and growth of smart appliances during the forecast period.”
According to the report, wireless technologies like Wi-Fi, Bluetooth, and ZigBee can be used in or accessed by smartphones and tablets. But the inclusion of these technologies in home appliances (like air conditioners) is a means of product differentiation by manufacturers that is enticing tech-savvy consumers.
Further, the report states that when it comes to smart connected appliances, there are concerns regarding security and privacy. Due to the lack of a user interface, the automatic interaction between the connected devices in IoT is often invisible to users; this makes it easy for utility companies or third-party energy management and service providers to collect information, including private and personal data, without the user's knowledge.
Electrolux, Haier, LG, Samsung, Whirlpool, Dacor, Friedrich, FUJITSU GENERAL, Midea, Mitsubishi Electric, Panasonic, Robert Bosch, Videocon, Voltas