Press release
Emerging Sub-Segments Transforming the Smart Home Appliances Market Landscape
Smart Home Appliances Market
Projected Growth Trajectory of the Smart Home Appliances Market
The smart home appliances market is anticipated to experience substantial growth, reaching a market value of $95.68 billion by 2030. This impressive expansion corresponds to a compound annual growth rate (CAGR) of 13.4%. Several factors contribute to this surge, including advancements in AI-driven automation technologies, rising demand for energy-efficient household solutions, modernization of home security systems, increased availability of high-speed internet, and improved interoperability among various connected devices. Leading trends such as the integration of voice control, virtual assistants, remote monitoring, predictive maintenance, and multifunctional compact designs are expected to influence market dynamics throughout the forecast period.
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Significant Companies Leading the Smart Home Appliances Industry
Key corporations shaping the smart home appliances market include globally recognized names such as Apple Inc., Google LLC (Alphabet Inc.), Samsung Electronics Co. Ltd., Robert Bosch GmbH, Hitachi Ltd., Sony Corporation, LG Electronics, Panasonic Corporation, Midea Group, Xiaomi Corporation, Haier Group, ABB Group, Whirlpool Corporation, Sharp Corp., Koninklijke Philips N.V., Emerson Electric Co., Electrolux Group, Hisense Electrical Co Ltd, Miele & Cie. KG, Ecovacs Robotics Co Ltd, iRobot Corporation, and Neato Robotics Inc.
A notable development occurred in June 2023 when ABB Group, a Swiss engineering firm, acquired Germany-based Eve Systems GmbH for an undisclosed sum. This strategic acquisition aims to bolster ABB's smart home technology portfolio by positioning the company as a frontrunner in matter and thread connectivity standards. The move enhances ABB's capabilities in energy efficiency, security, and convenience, particularly in upgrading existing homes and buildings with smart technologies.
Emerging Trends Highlighting Opportunities in Smart Home Appliances
Industry leaders are increasingly focusing on the development of AI-powered connected appliances that adapt intelligently to users' habits and preferences. These AI-driven smart devices analyze data, learn from interactions, and communicate with other smart equipment to automate various household tasks, thus improving convenience and efficiency.
For example, in April 2024, Samsung Electronics Co. Ltd. introduced a new line of connected Bespoke AI-powered home appliances. This series includes innovations such as the Bespoke French Door Refrigerator with AI Family Hub+, Bespoke Infinite Induction Line, Bespoke AI Laundry Combo, Bespoke Jet Bot Combo AI, Bespoke Jet AI, and Bespoke Cube Air Infinite Line. These appliances feature AI-driven cycle adjustments, internal cameras for food management, and seamless integration with SmartThings, all designed to enrich the user experience and optimize daily routines.
View the full smart home appliances market report:
https://www.thebusinessresearchcompany.com/report/smart-home-appliances-global-market-report
Market Segments Dominating the Smart Home Appliances Industry
The smart home appliances market is categorized into several important segments:
1) Product Types: Washing Machines, Dishwashers, Refrigerators, Air Conditioners, Security Devices, Lighting Devices, and Other Products
2) Technologies Used: Wi-Fi, Radio Frequency Identification, ZigBee, Cellular Technology, Bluetooth, and Other Technologies
3) Distribution Channels: Online and Offline
4) Application Areas: Personal, Commercial, and Other Applications
Further breakdowns include washing machines divided into front-load, top-load, and washer-dryer combos; dishwashers separated into built-in, portable, and countertop models; refrigerators categorized by French door, side-by-side, top freezer, and bottom freezer types; air conditioners segmented into window, portable, split, and central units; security devices such as smart locks, surveillance cameras, motion sensors, and alarm systems; lighting devices including smart bulbs, switches, light strips, and fixtures; plus other products like smart thermostats, plugs, speakers, and home hubs.
This detailed segmentation showcases the breadth and depth of the market as it continues to innovate and meet evolving consumer demands.
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