Press release
Smart Home Appliances Market 2018: Company Profiles, Industry Segments,Size, Landscape and Demand by Forecast to 2020
Smart Home Appliances Market 2018: Company Profiles, Industry Segments,Size, Landscape and Demand by Forecast to 2020
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Smart home appliances market is expected to witness dynamic growth in future, due to the advancement in electronics and communication technologies. Factors such as increasing purchasing power and changing lifestyles of people have fostered the demand for smart home appliances, worldwide.
The market players offer products as well as associated and after sale services to the customers. Among the products segment, smart washing machines would occupy the largest market share among all the appliances, due to wide adoption and higher prices. However, Air conditioners would exhibit the fastest growth rate, due to the increasing demand coupled with innovative product launches by the leading market players. Smart home appliances operate through a range of wireless technologies, including Wi-Fi, RFID, ZigBee and Bluetooth and others technologies. Improving internet access levels and easy operability from remote locations, via Wi-Fi technology, would contribute to the market growth.
Key Findings of Smart Home Appliances Market:
•The global market for smart home appliances, is expected to grow due to availability of innovative and affordable smart appliances and increasing awareness among the populace during the forecast period (2015-2020)
•Wi-Fi, RFID and ZigBee are the most preferred technologies in the smart home appliances market
•North America, on account of tech-savvy end users and government incentives for smart appliance manufacturers, constituted the highest market share in 2014, followed by Europe
•Asia-Pacific would surpass the North American and European markets by 2018, emerging as the market leader
Global smart home appliances market comprises renowned players such as LG Electronics, Panasonic Corp., Samsung, Whirlpool Corp. and Haier, offering a wide range of products to the customers. The players are consistently introducing new smart appliances and associated applications in order to increase their market share, thereby making product launch as one of the majorly adopted growth strategies. Besides product launch, the players are also acquiring smaller players to widen their customer base.
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