Smart Appliances Market to grow at a CAGR of 20.06% over the period 2015 to 2021

Knowledge Sourcing Intelligence announces the publication of a new report on "Smart Appliances Market - Forecasts from 2016 to 2021" to their offering. The report has segmented the Smart Appliances market by type (smart home appliances, smart kitchen appliances, and others), technology (Wi-Fi, Bluetooth, and NFC), end-user (residential, and commercial), and by geography. Global smart appliances market is projected to reach a total market size of US$34.523 billion by the end of forecast period, at a CAGR of around 20.06% over the period 2015 to 2021.

Increasing number of smartphones and other mobile device users along with the rising purchasing power and changing lifestyle are analyzed to be the key factors behind the tremendous growth of the global smart appliances market. Growing penetration of internet connectivity in remote areas coupled with technological advancements in communication protocols, microchips, hardware and software products are further contributing to the augmenting demand for smart appliances. Furthermore, falling prices of sensors and connectivity modules are also propelling the growth of smart appliances market.

Smart Home Appliances witnessing the fastest growth during the forecast period

Rising working population and high demand for added convenience are driving the demand for smart home appliances. Moreover, rising energy prices coupled with stringent environmental regulations are further fostering the demand for energy-efficient smart home appliances worldwide. Growing security concerns due to increasing cases of burglary and thefts are forcing people to install smart security and alarm systems, both at residential and commercial places, which will also contribute to the market growth during the forecast period.

North America held the largest market share in 2015

Geographically, North America held the largest regional market share of the global smart appliances market in 2015 owing to higher disposable income and better living standard, early adoption of technology, growing awareness about connected devices among consumers, and high penetration of internet and smartphones, tablets and other portable devices in countries such as the U.S. and Canada. Moreover, the presence of key market players such as Honeywell and Nest Labs also contributes to the smart appliances market growth in the region. Asia Pacific will witness a significant regional market growth during the forecast period due to rising commercialization of smart appliances along with the expansion of high-speed internet in the region.

The key players of Global Smart Appliances market covered in this report include General Electric, LG Electronics, Panasonic, Samsung, Whirlpool, Electrolux, Philips, and Haier.

This report contains the market analysis on the current trends in the Smart Appliances Market and the opportunities for the vendors over the next six years. It provides deep insights into the drivers and restraints of the industry. Smart Appliances Market report also consists of in-depth regional analysis. A lot of statistically relevant tools and detailed industry analysis models such as Porter's 5 forces have been used to forecast the market trends and forecasts up to the year 2021.

The report also talks about the strategies adopted by the industry leaders to gain an advantage over competitors and the recent deals that they have gone into to position themselves better in this market.

Purchase the complete report or request for a sample:
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Knowledge Sourcing Intelligence is a market research and consulting firm based out of India. Driven by industry experts, the company provides syndicated reports, custom research, and consulting services. Our proprietary data analytics model blended with quality primary and secondary research data assists in generating quality reports providing crucial insights to managers and decision makers. The services offered by us help companies to gain required competitive edge. Our expertise across 10 industries such as ICT, Chemicals, Semiconductors, Healthcare among others caters to diverse client needs.

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