Smart Home Appliances Worldwide Market Is Expected to Witness Dynamic Growth in Future!!

Research Beam added report on “World Smart Home Appliances Market Market Overview, Analysis, Demand, Report, Trends, Growth and Research – Smart Home Appliances Market by Product (Washing machine, Refrigerator, Dishwasher, Air conditioner) and Technology (Wi-Fi, Radio Frequency Identification (RFID), ZigBee, Cellular Technology, Bluetooth, Z Wave, Insteon, HomeRF, and EnOcean) - Global Opportunity Analysis and Industry Forecast, 2014 - 2020”

Research Beam study says Smart Home Appliances Market is expected to reach $38.35 billion by 2020, registering a CAGR of 16.6% during the forecast period of 2015-2020, Request Sample Copy @ http://www.researchbeam.com/smart-home-appliances-market/request-sample

Smart home appliances are next generation conventional home appliances, equipped with advanced features for receiving, processing, and transmitting information using smartphones, tablets, and laptops. Increasing use of appliances in homes has led to higher energy consumption, thereby, posing challenges for power companies to produce more electricity. According to the U.S. Energy Information Administration, the global energy demand would increase by nearly 37% by 2035. In such a scenario, the adoption of smart home appliances would increase, as they facilitate real-time communication to operate the device at low frequencies or shift the operations time to off-peak periods. Thus, smart home appliances offer revolutionary control features to consumers as well as service providers along with enhanced convenience, security, and efficiency.

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 key market players profiled in this report are 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 and Whirlpool Corporation. New product launch is the key strategy adopted by renowned market players to sustain the market competition. However, these players focus on raising awareness through trade shows, events, and other promotional activities.

Rising cost of energy
Increasing cost of electricity bills is a major concern for household consumers. For instance, according to a recent study by Hawaiian Electric, appliances, such as air conditioners, water heaters, refrigerators, lighting fixtures, and home entertainment systems consume enormous amount of electricity. The following graph illustrates the cost of energy consumed by these appliances in a family with four members.
These increased costs are driving the households towards energy saving options. In such a scenario smart home appliances, which can communicate among themselves, have emerged as effective solution. Thus, the households are adopting the smart home appliances to minimize the energy costs.

Technological advancements
Technological advancements in the wireless communication would facilitate remote operations of home appliances. For instance, smartphones and tablets are used for monitoring and controlling these appliances via Wi-Fi. In addition, Bluetooth technology facilitates data exchanges between two devices. Therefore, Bluetooth-enabled appliances can be controlled and monitored using smartphones. New technologies, such as ZigBee, have emerged as a feasible technology for monitoring smart home appliances.

Key Benefits
• This study highlights the current scenario of the world smart home appliances market along with its scope to identify the ongoing trends in the market.
• Porter’s Five Force Analysis highlights the potency of the suppliers and buyers along with a competitive scenario of the market, which would facilitate efficient strategic planning.
• The drivers and opportunities have been analyzed to identify the current factors, which are responsible for the growth of the market as well as the upcoming technologies that are expected to foster the market growth in future.
• The value chain analysis of the industry highlights the key intermediaries involved and elaborates their roles and value additions at every stage in the value chain.
• Quantitative analysis of the current market trends and estimations for the period of 2014‐2020 are provided to determine the financial appetency of the market.

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