Smart Appliance Market Size, Forecast, Trends, and Competitive Landscape Report by Product (Washing Machines, AC, Refrigerators), Distribution Channel (Offline, Online), and Geographic Landscape, 2024-2028

Technological advancements are driving growth in the smart appliance market

Smart appliances are household devices equipped with internet connectivity and intelligent features that enable remote control, automation, and enhanced functionality. These devices integrate with home automation systems and can be controlled via smartphones, tablets, or voice commands. The smart appliance market has experienced significant growth over recent years and is expected to continue expanding. The market is projected to grow at a robust rate, driven by technological advancements and increasing consumer adoption.

Technavio’s in-depth industry report offers historical data as well as a comprehensive market forecast. It analyzes the current state of the smart appliance market and provides detailed predictions on its performance over the coming years. It examines key factors such as market drivers, challenges, and key emerging trends, as well as the global competitive landscape.

Market Report Highlights

Market Report Insights

Technavio’s reports provide a range of insights into the smart appliance market, including:

• Precise evaluation of the market’s size and a forecast of market performance over the next several years
• Qualitative and quantitative analysis of the current market scenario and future prospects
• In-depth analysis of the drivers and challenges that will impact the growth of the market
• Predictions about upcoming trends and changes in consumer behavior
• Detailed information on key market players, including market positioning, product offerings, and more
• Region-by-region analysis of market growth and opportunities

Smart Appliance Market Segmentation

Demand remains high for smart refrigerators

The smart appliance market is segmented according to product type and distribution channel. Based on type, the market is divided into washing machines, air conditioners, refrigerators, and others. Distribution channels include offline and online distribution. Technavio’s industry report provides actionable market insights on each segment, including market share and growth forecasts.

The smart refrigerator segment is currently the largest and most prominent one in the market. Smart refrigerators offer significant convenience by allowing users to manage their food inventory, plan meals, and control the appliance remotely. This aligns with the growing consumer preference for convenience and automation in household appliances.

Smart Appliance Market Regional Analysis

North America leads the global market, with the US being a key country

North America is the largest market, driven by high adoption rates, technological advancements, and strong consumer demand. The U.S. and Canada lead in the adoption of smart home technology and appliances. APAC is emerging as a significant market with growing urbanization, rising disposable incomes, and increasing adoption of smart home technologies in countries like China, Japan, and India.

Technavio’s smart appliance market research helps facilitate strategic business decisions by providing a historical and focused look at regional markets. Regions covered in this market report include North America, Europe, APAC, South America, and the Middle East and Africa.

Competitive Landscape – Smart Appliance Market Leaders

This report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies in order to help clients improve their market positions. Companies leading the global smart appliance market include Electrolux AB, General Electric Co., Koninklijke Philips N.V., Mitsubishi Electric Corp., and Whirlpool Corp.

Smart Appliance Market Trends and Dynamics

Technological Advancements

Internet of Things (IoT): The proliferation of IoT technology has enabled smart appliances to connect to the internet, allowing for remote control and monitoring through mobile apps and voice assistants.

Artificial Intelligence (AI): AI integration enhances the functionality of smart appliances, allowing them to learn user preferences, optimize performance, and offer personalized recommendations.

Voice Assistants: Integration with popular voice assistants like Amazon Alexa, Google Assistant, and Apple Siri has become a standard feature, enabling hands-free control and automation.

Increasing Consumer Demand

Convenience and Automation: Consumers are increasingly seeking convenience and automation in their daily lives. Smart appliances offer features like remote control, scheduling, and real-time notifications that align with these preferences.

Energy Efficiency: Smart appliances often come with energy-saving features and performance optimization capabilities that help consumers reduce energy consumption and lower utility bills.

FAQ on the Smart Appliance Market

What trends are impacting the smart appliance market?

The proliferation of IoT technology has enabled smart appliances to connect to the internet, making remote control and monitoring easier. Technavio’s market research reports provide an analysis of current trends and their impact.

Who are the major players in the smart appliance market?

Companies leading the global smart appliance market include: Electrolux AB, General Electric Co., Koninklijke Philips N.V., Mitsubishi Electric Corp., and Whirlpool Corp.

How do I decide which segments of the smart appliance market to focus on?

Every Technavio report includes detailed segmentation insights, breaking down the market in terms of product type, geography, sales channels, and more. And if you’re looking for something a little more specific, our Custom Research Solutions can tailor any report to meet your unique needs.

Still have questions? We’re here to help! Get in Touch

Table of Contents

1 Executive Summary

• 1.1 Market overview
  • Exhibit 01: Executive Summary – Chart on Market Overview
  • Exhibit 02: Executive Summary – Data Table on Market Overview
  • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
  • Exhibit 04: Executive Summary – Chart on Market by Geography
  • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
  • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
  • Exhibit 07: Executive Summary – Chart on Incremental Growth
  • Exhibit 08: Executive Summary – Data Table on Incremental Growth
  • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
  • Exhibit 10: Parent market
  • Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
  • Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
  • Exhibit 13: Market segments

• 3.3 Market size 2023

• 3.4 Market outlook: Forecast for 2023-2028
  • Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
  • Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

• 4.1 Dietary supplements market in North America 2018 - 2022
  • Exhibit 18: Historic Market Size – Data Table on dietary supplements market in north America 2018 - 2022 ($ billion)

• 4.2 Distribution Channel Segment Analysis 2018 - 2022
  • Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)

• 4.3 Product Segment Analysis 2018 - 2022
  • Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)

• 4.4 Geography Segment Analysis 2018 - 2022
  • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
  • Exhibit 22: Five forces analysis - Comparison between 2023 and 2028

• 5.2 Bargaining power of buyers
  • Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

• 5.3 Bargaining power of suppliers
  • Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

• 5.4 Threat of new entrants
  • Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028

• 5.5 Threat of substitutes
  • Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028

• 5.6 Threat of rivalry
  • Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028

• 5.7 Market condition
  • Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
  • Exhibit 29: Chart on Distribution Channel - Market share 2023-2028 (%)
  • Exhibit 30: Data Table on Distribution Channel - Market share 2023-2028 (%)

• 6.2 Comparison by Distribution Channel
  • Exhibit 31: Chart on Comparison by Distribution Channel
  • Exhibit 32: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2023-2028
  • Exhibit 33: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 34: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 35: Chart on Offline - Year-over-year growth 2023-2028 (%)
  • Exhibit 36: Data Table on Offline - Year-over-year growth 2023-2028 (%)

• 6.4 Online - Market size and forecast 2023-2028
  • Exhibit 37: Chart on Online - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 38: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 39: Chart on Online - Year-over-year growth 2023-2028 (%)
  • Exhibit 40: Data Table on Online - Year-over-year growth 2023-2028 (%)

• 6.5 Market opportunity by Distribution Channel
  • Exhibit 41: Market opportunity by Distribution Channel ($ billion)
  • Exhibit 42: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

• 7.1 Market segments
  • Exhibit 43: Chart on Product - Market share 2023-2028 (%)
  • Exhibit 44: Data Table on Product - Market share 2023-2028 (%)

• 7.2 Comparison by Product
  • Exhibit 45: Chart on Comparison by Product
  • Exhibit 46: Data Table on Comparison by Product

• 7.7 Others - Market size and forecast 2023-2028
  • Exhibit 63: Chart on Others - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 64: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
  • Exhibit 65: Chart on Others - Year-over-year growth 2023-2028 (%)
  • Exhibit 66: Data Table on Others - Year-over-year growth 2023-2028 (%)

• 7.8 Market opportunity by Product
  • Exhibit 67: Market opportunity by Product ($ billion)
  • Exhibit 68: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview
  • Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation
  • Exhibit 70: Chart on Market share by geography - 2023-2028 (%)
  • Exhibit 71: Data Table on Market share by geography - 2023-2028 (%)

• 9.2 Geographic comparison
  • Exhibit 72: Chart on Geographic comparison
  • Exhibit 73: Data Table on Geographic comparison

• 9.6 Market opportunity by geography
  • Exhibit 74: Market opportunity by geography ($ billion)
  • Exhibit 75: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges
  • Exhibit 76: Impact of drivers and challenges in 2023 and 2028

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
  • Exhibit 77: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
  • Exhibit 78: Overview on factors of disruption

• 11.4 Industry risks
  • Exhibit 79: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
  • Exhibit 80: Vendors covered

• 12.2 Market positioning of vendors
  • Exhibit 81: Matrix on vendor position and classification

• 13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist
  • Exhibit 82: Inclusions checklist
  • Exhibit 83: Exclusions checklist

• 13.3 Currency conversion rates for US$
  • Exhibit 84: Currency conversion rates for US$

• 13.4 Research methodology
  • Exhibit 85: Research methodology
  • Exhibit 86: Validation techniques employed for market sizing
  • Exhibit 87: Information sources

• 13.5 List of abbreviations
  • Exhibit 88: List of abbreviations