Press release
Smart Washing Machines Market: Global Trends and Forecast - Insights 2024
Smart Washing Machines Market
The smart washing machines market size is expected to see rapid growth in the next few years. It will grow to $39.32 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to increasing smart homes, adoption of the internet of things (iot), increasing demand for energy efficient products, rapid growth in ecommerce, increasing adoption of 5g networks, increasing adoption of smart appliances and increased internet penetration. Major trends in the forecast period include focus on artificial intelligence (ai)-powered washing machines, focus on wi-fi enabled washing machines, focus on voice-enabled washing machines, focus on product innovations and focus on iot technology.
Market Overview -
A smart washing machine is defined as a machine that helps the user to control the washing process remotely. Smart washing machines are connected to the internet and smartphone, or other smart devices through the cloud or app. The connectivity gives more control to the machine, and the user can decide its activity through the commands on the app or through other means like voice.
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Smart Washing Machines Market Growth Fueled By Energy Efficiency
The increasing need for energy-efficient washing machines will drive the growth of the smart washing machines market 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. Currently, over 80 countries have standards and labels for energy-efficient machines. Thus, smart washing machines will drive the smart washing machines market in the forecast period.
Competitive Landscape -
Major companies operating in the smart washing machines market report are Haier Smart Home Co., Ltd., LG Electronics, Whirlpool Corporation, AB Electrolux, Panasonic Corporation, Samsung Electronics Co Ltd, Arcelik A.S., Xiaomi Corporation, Robert Bosch GmbH, Miele and Cie KG, IFB, Onida, Godrej, BPL, Little Swan, TCL Corporation, Sanyo Electric, Siemens AG, Landuwasco B.V., Hotpoint Ariston, Bsh Hausgeräte Gmbh, Kohlhoff Hygienetechnik Gmbh & Co. Kg, Tps Industriewaschmaschinen- Und Anlagenbau Gmbh, Pulse Monitor, Rusolut Sp. Z O.O, SECTRON, General Electric (GE), Speed Queen, Amana Corporation, Kenmore, Maytag, Miele, Frigidaire, Asko Appliances, Ariston, Brandt Appliance, Crosley Company, Dyson, Fisher and Paykel, Hoover Limited, Magic Chef, H-Buster, Philco, Pioneer, Sony, AOC, Philips, Hisense, Advanced Electronics Company, Leap Technologies FZC, SMARTECH AV, CZ Electronics (Pty) Ltd., Avnet South Africa, TOSHIBA, 3M South Africa, Electrocomp (PTY) Ltd
Ai-Enhanced Smart Washing Machines
Artificial Intelligence is expected to be a trend in the smart washing machine market. AI uses a simulation of human intelligence into the machine. 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. AI-programmed smart washing machines are expected to ease the process of laundry.
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Key Segments -
The smart washing machines market covered in this report is segmented -
1) By Type: Top Load, Front Load
2) By Connectivity: Wi-Fi, Bluetooth, Near-Field-Communication (NFC), Other Connectivities
3) By Application: Residential, Commercial
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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