The smart appliances market is expected to grow at a CAGR of 15.4% between 2015 and 2020. The smart home appliances accounts for the major share in the smart devices market. This segment accounted for a market share of 48% in 2014 and is also expected to grow at a higher CAGR of 16.8% between 2015 and 2020.
IoT (Internet of Things) is an emerging trend in the market and smart appliances are a subset of IoT. The IoT helps integrate digital and wireless technologies in home or kitchen appliances. Further, M2M (Machine to Machine) communication is likely to create a key opportunity in the market.
The smart appliances market has been segmented based on type, end user, technology, and geography. It is expected to grow at a high CAGR of 15.4% between 2015 and 2020. Appliances based on type have been segmented into smart home appliances, smart kitchen appliances, and services.
This report describes the market trends, drivers, and challenges for the smart appliances market and forecasts the market between 2015 and 2020 on the basis of type, technology, end user, and geography. Factors driving the market include increasing energy prices, changing lifestyles and preferences of consumers, and availability of wireless solutions.
- BSH Hausgerate GmbH
- General Electric Co.
- Haier Inc.
- Koninklijke Philips N.V.
- LG Electronics Inc.
- Panasonic Corp.
- Samsung Electronics Co. Ltd.
- Whirlpool Corp.