A recent market intelligence report that is published by Data Insights Partner on the global SMART Home Appliances Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international SMART Home Appliances Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global SMART Home Appliances Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global SMART Home Appliances Market is offered. In accordance with the report, the global SMART Home Appliances Market is projected to expand at a CAGR of 10.6 % over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
SMART Home appliances are the devices used at home that connect via internet. Such equipment can be easily controlled, monitored and accessed through sensors that are connected to Internet of Things (IoT) and respond to the user’s needs via remote devices. Wi-Fi, RFID and Zigbee are currently used in smart home appliances market.
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SMART Home Appliances are gaining a lot of popularity globally. Increasing income and changing lifestyle of consumers are the major drivers for growth of global SMART Home Appliances market. Such appliances are easily managed and operated through remote devices, Wi-Fi etc., making it more attractive for the consumers. With improvement in internet access and easy operability from remote locations via Wi-Fi is yet another contributing factor towards the growth of this market globally. Consumers are now emphasizing on kitchen remodeling in order to build a modular kitchen using appliances like cookware, cooktops and dishwashers.
Even though the SMART Home Appliance market is gaining popularity globally, consumers are still doubtful about the durability and efficiency of such products. The prices of various smart home appliances are very high, making it very difficult for the lower income group to spend on such products. These factors act as the major restraint for growth of SMART Home appliances market globally. SMART home appliances consume enormous amount of energy, thereby increasing the cost of electricity bills, which is a major concern for consumers.
China is home to many manufacturers of variety of home appliances, making Asia Pacific region the largest holder of market shares of SMART Home Appliances market. Due to technologically advanced infrastructure, easy availability of SMART home appliances and high purchasing power, regions of North America and Europe are expected to play major role in global SMART Home Appliances market in the forecast period. With the integration of wireless communication and SMART Home appliances, all the equipment will be easily controlled by a remote device.
Manufacturers are constantly introducing new applications in order to increase their market share. With the rapid development of IT and wireless communication and its integration with home appliances with devices such as mobile phones, remote control, laptops etc., this market is expected to see a positive growth in the forecast period. LG Electronics has recently launched Wi-Fi refrigerators that alerts the consumers about minor issues, thereby assisting in reduction of maintenance cost. Whirlpool has introduced a lot of appliance that can be integrated with Wi-Fi and can be managed using applications on the phone. The ability of voice-controlled devices like Google Home and Amazon Echo to control various equipment at home is also gaining popularity amongst consumers.
With the recent Covid-19 pandemic, millions of people across the world are working from home. This will increase the demand of voice controlled devices. China is the major exporter for major home appliances. However, due to mandatory measures limiting factory output in China has impacted supply chain for home appliances. Furthermore, with the outbreak of Covid-19, there will be a major impact on the income of all households, thereby reducing demand for SMART home appliances in the future.
This market intelligence report on the global SMART Home Appliances Market encompasses market segments based on technology, products, services, distribution channels and country/regions.
In terms of technology, the global SMART Home Appliances Market is segregated into :
- Radio Frequency Identification
- Cellular Technology
ü Z Wave
By product, the global SMART Home Appliances Market is also classified into :
- Lightning Control
ü Occupancy Sensors
ü Daylight Sensors
ü Lightning Control Accessories
- Security & Access Control
ü Video Surveillance System
o Storage Devices
v Video Analytics
ü Access Control Systems
v Biometric Access Control
o Facial Recognition
o Iris Recognition
o Fingerprint Recognition
o Vein Recognition
o Voice Recognition
o Speech Recognition
v Non – Biometric Access Control
- HVAC Control
ü SMART Thermostats
ü Sensors Used In HVAC Applications
ü Control Valves
ü Heating & Cooling Coils
ü Pumps & Fan
ü SMART Vents
- Entertainment & Other Control
ü Entertainment Control Products
ü Audio, Volume and Multimedia Controls
ü Home Theatre System Controls
ü Touchscreen & Keypads
ü Other Controls
v SMART Meters
v SMART Plugs
v SMART Hubs
v SMART Locks
v Smoke Detectors
- Home Healthcare
ü Health Status Monitors
ü Physical Activity Monitors
- SMART Kitchen
ü SMART Coffee Makers
ü SMART Kettles
ü SMART Dish Washers
ü SMART Ovens
ü SMART Cooktops
ü SMART Cookers
- Home Appliances
ü SMART Refrigerator
ü SMART Washers
ü SMART Water Heaters
ü SMART Vacuum Cleaners
- SMART Furniture
ü SMART Tables
ü SMART Desks
ü SMART Stools & Benches
ü SMART Sofas
ü SMART Chairs
By Services, the global SMART Home Appliances Market is also classified into :
By distribution channel, the global SMART Home Appliances Market is also classified into :
- Offline Channels
- Online Channels
By country/region, the global SMART Home Appliances Market has been divided into :
- North America (the U.S., Canada),
- Latin America (Brazil, Mexico, Argentina and other countries),
- Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
- Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
- Middle East and Africa (GCC, South Africa, Israel and Other countries).
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Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
- Amazon Inc.
- Apple Inc.
- ABB Ltd
- Ingersoll Rand PLC
- LeGrand SA
- General Electric
- ComCast Corp
- Hubbell Inc.
- Sony Corporation
- LG Electronics
- Control 4 Corporation
- Panasonic Corporation
- Samsung Electronics Co. Ltd
- Whirlpool Corporation
- Axis Communication AB
- Lutron Electronics Co Inc
- Robert Bosch GmBH
- Voltas Limited and many more
Others players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as SMART Home Appliances related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Ø This study offers comprehensive yet detailed analysis of the SMART Home Appliances Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world SMART Home Appliances Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such as Amazon Inc., Apple Inc., Google, ADT, AssaABloy, Abb Ltd., Ingersoll Rand PLC, LeGrand SA, General Electric, ComCast Corporation, Hubbell Inc, Sony Corporation, LG Electronics, Control 4 Corporation, Panasonic Corporation, Samsung Electronic Co. Ltd, Whirlpool Corporation, Haier, Microsoft, Broadcom, Axis Communications AB, Vivint, Electrolux, Lutron Electronics, Robert Bosch, Voltas Limited and many more.
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for SMART Home Appliances Market caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for SMART Home Appliances Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
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v Identification of key factors driving investment opportunities in the SMART Home Appliances Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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