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The Smart Home Appliances Market to Grow By $ 31.66 bn in 2020|Industry Analysis, Market Trends, and Forecast 2024| Technavio

LONDON--(BUSINESS WIRE)--Nov 20, 2020--

Technavio has been monitoring the smart home appliances market and it is poised to grow by USD 31.66 bn during 2020-2024, decelerating at a CAGR of over 16% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201120005001/en/

Technavio has announced its latest market research report titled Global Smart Home Appliances Market 2020-2024 (Graphic: Business Wire)

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the smart home appliances market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

  • What are the major trends in the market?
    The adoption of wireless connecting devices is a major trend driving the growth of the market.
  • At what rate is the market projected to grow?
    The market will decelerate at a CAGR of over 16% and the incremental growth of the market is anticipated to be $ 31.66 billion.
  • Who are the top players in the market?
    AB Electrolux, General Electric Co., Koninklijke Philips NV, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., and Whirlpool Corp., are some of the major market participants.
  • What is the key market driver?
    The adoption of wireless connecting devices is one of the major factors driving the market.
  • How big is the APAC market
    The APAC region will contribute to 40% of the market share.

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The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. AB Electrolux, General Electric Co., Koninklijke Philips NV, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corp., and Whirlpool Corp. are some of the major market participants. The adoption of wireless connecting devices will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this smart home appliances market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Smart Home Appliances Market 2020-2024: Segmentation

Smart Home Appliances Market is segmented as below:

  • Product
    • Smart Washing Machines
    • Smart Air Conditioners
    • Smart Refrigerators
    • Smart Microwave Ovens
    • Smart Dishwashers
  • Distribution channel
    • Offline
    • Online
  • Geographic Landscape
    • North America
    • APAC
    • Europe
    • South America
    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40419

Smart Home Appliances Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The smart home appliances market report covers the following areas:

  • Smart Home Appliances Market Size
  • Smart Home Appliances Market Trends
  • Smart Home Appliances Market Industry Analysis

This study identifies growing smartphone penetration and increasing internet speed as a few prime reasons driving the smart home appliances market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Smart Home Appliances Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist smart home appliances market growth during the next five years
  • Estimation of the smart home appliances market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart home appliances market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart home appliances market vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product placement
  • Smart washing machines and dryers - Market size and forecast 2019-2024
  • Smart air conditioners - Market size and forecast 2019-2024
  • Smart refrigerators - Market size and forecast 2019-2024
  • Smart microwave ovens - Market size and forecast 2019-2024
  • Smart dishwashers - Market size and forecast 2019-2024
  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments
  • Comparison by Distribution channel placement
  • Offline - Market size and forecast 2019-2024
  • Online - Market size and forecast 2019-2024
  • Market opportunity by Distribution channel

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Geographic Landscape by Volume
  • Geographic segmentation
  • Geographic comparison

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • AB Electrolux
  • General Electric Co.
  • Koninklijke Philips NV
  • LG Electronics Inc.
  • Mitsubishi Electric Corp.
  • Panasonic Corp.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.
  • Sharp Corp.
  • Whirlpool Corp.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

     

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201120005001/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: OTHER RETAIL CONSUMER ELECTRONICS TECHNOLOGY SPECIALTY OTHER TECHNOLOGY RETAIL SOFTWARE NETWORKS INTERNET HOME GOODS MOBILE/WIRELESS

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/20/2020 04:40 AM/DISC: 11/20/2020 04:40 AM

http://www.businesswire.com/news/home/20201120005001/en

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