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Smart Home Appliances Market Trends

Report ID: GMI6655
Published Date: Sep 2023
Report Format: PDF

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Smart Home Appliances Market Trends

The growing consumer emphasis on smart home automation is driving the business expansion. These appliances offer real-time data, personalized recommendations & convenient monitoring, empowering individuals to make informed decisions about their health. The customization and personalization in smart appliances signify a shift toward more user-centric technology. These appliances enable users to adjust settings, schedules, and preferences to align with their unique needs and lifestyles. Whether it is customizing the lighting, temperature, or even the way coffee is brewed, these personalized experiences enhance convenience and comfort.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Global market for smart home appliances was valued at USD 30.8 billion in 2022 and is projected to register a CAGR of over 11.5% between 2023 and 2032, owing to the growing adoption of Internet of Things (IoT) technology that enables remote control, automation, and data monitoring.

The smart air conditioner segment held around 25% market share in 2022 and will grow further through 2032, attributed to the rising global temperatures and increased awareness of energy efficiency.

North America market held over 30% revenue share in 2022 and will experience growth in the coming years due to consumer demand for automation, energy efficiency, and convenience in home appliances.

Haier Group Corporation, LG Electronics Inc., Samsung Electronics, Hitachi, BSH Hausgeräte GmbH (BOSCH), Panasonic Corporation, Electrolux AB, Midea Group, and Whirlpool.