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Smart Home Appliances Market to Reach $38.35 Billon by during forecast period | Leading Players: General Electric Company, Panasonic Corporation, Electrolux AB, LG Electronics, Inc., Samsung Electronics Co., Ltd., Koninklijke Philips N.V., Apple, Inc.

06-20-2019 11:43 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Smart Home Appliances Market

Smart Home Appliances Market

North America is leading the global market owing to technological advancements and widespread awareness. However, Asia Pacific region is expected to surpass the North American and European markets by 2018, owing to the increasing demand of smart appliances, from countries such as China and India.

Smart Home Appliances Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $38.35 billion by 2020, registering a CAGR of 16.6% during the forecast period of 2015-2020. The demand of smart home appliances has triggered owing to growing concerns of energy costs and availability of innovative and affordable smart appliances. North America is leading the global market, with about 35% of the market share followed by Europe. However, Asia-Pacific region would emerge as a market leader by 2018. Wi-Fi, RFID and ZigBee are the most sought technologies in the smart home appliances market.

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Major Players:
• General Electric Company
• Panasonic Corporation
• Electrolux AB
• LG Electronics Inc.
• Samsung Electronics Co. Ltd.
• Koninklijke Philips N.V.
• Apple Inc.
• Haier Electronics Group Co. Ltd.
• Miele & Cie. KG
• BSH Hausgerate GmbH
• Whirlpool Corporation

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

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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