Connected Home Appliances Market Poised for Steady Growth in the Future
Connected home appliances are smart electronic appliances having internet connectivity, which can be accessible from any remote location using mobile devices such as smart phones, tablets and laptops. In short, any electronic home appliance if provided with internet connectivity would become connected home appliance. Smart home appliances enable users to monitor and control household activities from remote location. Growth of connected home appliances depends upon various factors such as internet infrastructure availability and smart phone penetration rate of the targeted region. If internet infrastructure of any country is robust and efficient, there would be more demand for connected home appliances. Being the more energy efficient solution compared to their traditional counterparts, connected home appliances are being adopted with substantial high adoption rate across the globe.
Connected Home Appliances Market: Drivers and Restraints
Personal and family security is the primary factor driving the adoption of connected home appliances by consumers across the globe. Over the last decade, adoption of connected home appliances grown quickly with the evolution of consumers who are more technology enthusiast. Also, with increasing adoption of smart phones, consumers are becoming more familiar with touch controls and world of apps which, in turn driving their attraction towards adoption of smart appliances. As connected home appliances generate more profit for the appliance makers as compared to traditional ones, manufacturers are diverting their focus from simple appliance manufacturing business to this business (connected appliance manufacturing), in order to increase their profitability margin. On the other hand, in various under developed or some of developing regions, lack of internet infrastructure and affordability issue are the factors hindering the growth of global connected home appliances market.
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Connected Home Appliances Market: Segmentation
Segmentation of global connected home appliances market is done on the basis of appliance type, technology and region. On the basis of appliance type, global connected home appliances market is segmented into laundry appliances, security appliances (smart alarms and smart lock systems), water treatment appliances, kitchen appliances and others. These segments can further be sub-segmented into their respective sub-segments. As laundry appliances segment is sub-segmented into smart washers, smart dryers and other connected laundry units. Kitchen appliances segment is sub-segmented into smart refrigeration, smart cooking appliances (ranges, wall ovens, range hoods and vents) and cleaning appliances (dishwashers, disposers, trash compactors etc.). Water treatment appliance is sub-segmented into replacement smart filters, smart water heaters, smart water softeners and water filtration systems. Others appliances type includes smart LED lighting, smart air purifiers & filters, smart compactors etc. Among all the aforementioned appliances type segment, kitchen appliance type is estimated to dominant the global connected appliance market and by the end of forecast period others appliance type segment is expected to gain substantial market share in global market. On the basis of technology, global connected home appliances market is segmented into Wi-Fi, NFC and Bluetooth. Among all these technology segments, Wi-Fi technology is the popular one and expected to remain dominant technology segment throughout the forecast period.
Geographically, global connected home appliances market is segmented into seven regions which are ; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East and Africa (MEA). Among all the regions Asia Pacific is the highest contributor in term of revenue in global connected home appliances market followed Europe and North America. In Asia Pacific, china is projected to be the leading market of connected home appliances in near future.
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Connected Home Appliances Market: Market Players
The key players of global connected home appliances market include AT&T Inc., Honeywell International, Inc., ARRIS Group Inc., Comcast Corporation, Robert Bosch GmbH, Samsung Group, Whirlpool Corporation, General Electric and others.