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Smart Washing Machines Market Size Analysis, Comprehensive Research Study 2032 | General Electric Co., LG Electronics Inc., Samsung Electronics Co. Ltd., Whirlpool Corp., Robert Bosch GmbH
Smart Washing Machines Market Growth
The Business Research Company's Smart Washing Machines Global Market Report 2023 identifies increasing need for energy-efficient washing machines as the major driver for the Smart Washing Machines market's growth in the forecast period. Smart washing machines increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient washing machines can be attributed to the stringent government regulations on electric home machines and advances in technology. According to the U.S. Energy Information Administration (EIA), the demand for global energy will grow by 37% due to a rise in energy requirements per household by 2035. Energy-efficient machines are designed to utilize minimum energy to complete the required task.
The global smart washing machines market will grow from $15.93 billion in 2022 to $17.06 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global smart washing machines market is expected to grow to $22.26 billion in 2027 at a CAGR of 6.9%.
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Major competitors in the Smart Washing Machines market are General Electric Co., LG Electronics Inc., Samsung Electronics Co. Ltd., Whirlpool Corp., Robert Bosch GmbH, Haier Consumer Electronics Group Co. Ltd., Panasonic Corp., Siemens AG, AB Electrolux, and Whirlpool.
A key trend in the Smart Washing Machines market includes Artificial Intelligence. These machines are programmed with AI technology to think and function like humans. For instance, LG electronics newly released smart washing machine LG think which uses Artificial Intelligence and analyses the wash load and suggests the wash settings accordingly.
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The Smart Washing Machines market is segmented -
By Type: Top Load, Front Load
By Application: Residential, Commercial
By Connectivity: Wi-Fi, Bluetooth, Near-Field-Communication (NFC), Other Connectivities
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Smart Washing Machines market.
The Business Research Company's "Global Smart Washing Machines Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Smart Washing Machines Market Include:
1. Executive Summary
2. Smart Washing Machines Market Characteristics
3. Smart Washing Machines Market Trends And Strategies
4. Smart Washing Machines Market - Macro Economic Scenario
5. Smart Washing Machines Market Size And Growth
……
26. Africa Smart Washing Machines Market
27. Smart Washing Machines Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Washing Machines Market
29. Smart Washing Machines Market Future Outlook and Potential Analysis
30. Appendix
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