Smart appliances are equipped with next generation technology that enables them to communicate with the tablets or smartphones and allow users to control these appliances remotely, providing enhanced convenience, security, and efficiency. One of the main advantages of switching to Smart Appliances is the advantage of optimal energy consumption. Government regulations regarding energy consumption, advancement in electronics and communication technologies and increasing purchasing power of consumers and changing lifestyle are some of the factors propelling the demand for these solutions over the forecast period. Smart Appliances Market is projected to grow to US$34.523 billion by 2021 from US$11.528 billion in 2015 at a CAGR of 20.06%. Increasing global energy demand has facilitated the higher adoption of smart home appliances, as they enable real-time communication to shift the operations time to off-peak periods or to operate the device at low frequencies. Conversely, the major restraining factor limiting the growth of the market is the lack of awareness regarding these products. However, industry players have adopted promotional campaigns and advertising programs in an attempt to create awareness and foster the growth of this market.
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentation which has been covered as part of the report.
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Smart Appliances. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Smart Appliances Market has been segmented on the basis of Type, Technology, End User and Geography as follows:
Smart Home Appliances
Smart Kitchen Appliances
By End User
Europe Middle East and Africa
The Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are General Electric, LG Electronics, Panasonic Corporation, Samsung, and Whirlpool Corporation among others.