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Smart Home Appliances (SHA) Market 2019: Company Profiles, Industry Trends, Global Segments, Landscape, Demand and Forecast to 2023

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Smart Home Appliances (SHA) Market 2019: Company Profiles, Industry Trends, Global Segments, Landscape, Demand and Forecast to 2023

August 22
19:40 2019
Smart Home Appliances (SHA) Market 2019: Company Profiles, Industry Trends, Global Segments, Landscape, Demand and Forecast to 2023

Smart Home Appliances (SHA) Market
Global Smart Home Appliances (SHA) Market is expected to grow at approx. USD 33 Billion by 2023, at 23% of CAGR between 2017 and 2023

Smart Home Appliances Market Overview:

Smart home appliances are devices connected to other devices via different wireless protocols such as bluetooth, Wi-Fi, NFC etc. which can interact. They are basically connected through microcontrollers. Networking home appliances together, and combining their controls and key functions is the latest trend. This helps in proper energy distribution and proves to be very efficient in managing the resources. As the appliances have the ability to measure and control the energy usage, they are also referred to as intelligent devices. Due to the increasing adoption of IoT, smart home appliances have gained immense popularity.

Smart Home Appliances Market are next generation home equipment, equipped with advanced features for receiving and transmitting data utilizing cell phones, tablets, and PCs. Expanding utilization of machines in homes has prompted higher energy utilization, consequently, presenting challenges for organizations to deliver greater power. According to U.S. Energy Information Administration, the worldwide energy request would increment by about 37% by 2035. In such situation, the appropriation of smart home appliance would increase, as they encourage real-time communication to operate the device at low frequencies. Hence, smart home appliances offer progressive control highlights to buyers and in addition specialist organizations alongside improved convenience, security, and proficiency.

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Major Key Players:

The prominent players in smart home appliances market are – Electrolux (Sweden), Haier Group Corporation (China), LG Electronics, Inc. (Korea), Samsung Group (Korea), Whirlpool Corporation (US), Dacor (US), Fujitsu General Limited (Japan), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany) and Voltas Limited (India) among others.

Industry News:

August 21, 2017, Bosch home appliance and Drop partnerships for smart kitchen in US

Bosch home appliances announced partnership with Drop for smart kitchen, to provide new experience of cooking to the end user. The Bosch Wall Oven is integrated with the Drop recipes app. In addition to the new Drop-enabled functionalities, the Bosch Wall Oven provides a range of smart features via the Home Connect App, that includes remote maintenance and care, diagnostics, and can seamlessly purchase appliance accessories.

August 30, 2018 Lenovo introduced a bunch of smart home products

Lenovo Smart Home Essentials is another group of interconnected gadgets that the organization will serve in the market, one-stop for both smart users and DIY home frameworks architects. The Lenovo Link application serves as a centralized control center for managing the devices, ideally eliminating the requirement for an individual application for each smart home device that is present in the market.

Smart Home Appliances MarketSegmentation:

Based on product, the market is segmented into washing machine, dishwasher, refrigerator, air conditioner, security devices, lighting devices, and others  

Based on technology, the market is segmented into Wi-Fi, radio frequency identification (RFID), ZigBee, cellular technology, Bluetooth, and others

Based on Region, the market is segmented into North America, Europe, Asia-Pacific (APAC), and rest of the world

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Smart Home Appliances MarketRegional Analysis:

The regional analysis of smart home appliances market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period.

The major growth in smart home appliances market in North America is attributed to the increasing investments in the smart grid projects and changing preferences of consumers in that region.

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