The global smart home appliances market is anticipated to garner US$ 75 Billion while expanding at a CAGR of 8.1% during the forecast period ranging from 2022 to 2032, as per Future Market Insights' recent report. The market is estimated at US$ 32 Billion in 2021 and US$ 34.5 Billion in 2022. Product demand is being driven by factors, such as the growing penetration of smart homes, rising home improvement projects, and rapid developments in IT and wireless communication.

Technological advances incorporated into homes are augmenting industry growth. Makers are incessantly developing and transforming smart home appliances to cater to the relaxed lifestyles of tech-savvy consumers. Besides, brands have been improving smart automation and hi-tech features for smart homes. Digital smart dials and voice-controlled lighting with programmable attributes are anticipated to appeal to millennial clientele. On the other hand, high costs involved in technological advancements, which can result in higher global product costs, may hurt industry development.

Request a sample @

https://www.futuremarketinsights.com/reports/sample/rep-gb-15424

In recent years, the demand for smart home appliances has burgeoned at a moderate rate, backed by an upward trend of advanced gadgets among millennial consumers. In terms of product type, the demand for smart washing machines is rising at an impressive rate owing to the growing demand for convenience products in residential spaces.

Key Takeaways from the Market Study

• By product type, smart washing machines are expected to be most sought after, capturing 31% revenue
• Smart air purifiers to enjoy equally high demand, flourishing at a 7.9% CAGR until 2032
• Offline smart home appliance sales to retain dominance, comprising over 60% demand in 2022
• Online smart home appliances sales to surge fastest, estimated to record an 8.1% CAGR
• North America region is likely to account for the majority share of nearly 38% in 2022
• Europe to generate substantial expansion opportunities, yielding 1/3rdof global revenue in 2022
• Asia Pacific to register an 8.3% CAGR with regard to smart home appliance demand

"With the introduction of novel technologies and increasing concern for the cybersecurity, the manufacturers are investing more on developing energy-efficient products to offer protection for the residential & commercial, thereby exhibiting immense growth," remarks an FMI analyst.

Ask an Analyst@

https://www.futuremarketinsights.com/ask-question/rep-gb-15424

Competitive Landscape

Key players in the global Smart Home Appliances market include Whirlpool Corp., LG Electronics, Haier Group, Samsung Electronics Co. Ltd., Panasonic Corp., BSH Hausgeräte GmbH, Electrolux AB, Koninklijke Philips N.V, GE Appliances, Xiaomi Corp., among others. Recent key developments among players are:

• In January 2022, Samsung Electronics announced its membership in the Home Connectivity Alliance (HCA) together with leading manufacturers in the smart home space, aiming to promote interoperability and greater safety.
• In February 2021, Panasonic announced the launch of its IoT and AI-connected living platform-Mirage. Additionally, the company launched a connected refrigerator, washing machine, wifi fan, ROMA smart digital switches, and smart wifi controller plugs and switches in India.
• In January 2022, Electrolux and other manufacturers formed the Home Connectivity Alliance (HCA) to make devices and apps work together across brands for a better consumer experience.

Key Segments Covered in the Smart Home Appliances Industry Analysis

Smart Home Appliances Market by Product:

• Smart Washing Machines
• Smart Refrigerators
• Smart Air Purifiers
• Smart TV
• Other Smart Home Appliances

Smart Home Appliances Market by Distribution Channel:

• Online Sales of Smart Home Appliances
• Offline Sales of Smart Home Appliances

Smart Home Appliances Market by Region:

• North America Smart Home Appliances Market
• Latin America Smart Home Appliances Market
• Europe Smart Home Appliances Market
• Asia Pacific Smart Home Appliances Market
• Middle East & Africa Smart Home Appliances Market

Ask For Customization@

https://www.futuremarketinsights.com/customization-available/rep-gb-15424

More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the Global Smart Home Appliances market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights based on Smart Home Appliances Market by Product (Smart Washing Machines, Smart Refrigerators, Smart Air Purifiers, Smart TV, Others), by Distribution Channel (Online Sale, Offline Sale) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)

Explore FMI's Extensive Ongoing Coverage on Consumer Product Domain:

Bird Feeding and Watering Suppliers Market: The bird feeding and water suppliers' market is estimated at US$ 4,994.8 Mn in 2022 and is projected to reach US$ 7,390.1 Mn by 2032, at a CAGR of 4.0% from 2022 to 2032.

Bird Cages and Accessories Market: The bird cages and accessories market is estimated at US$ 2.5 billion in 2022 and is projected to reach US$ 4.1 billion by 2032. The bird cages and accessories market is expected to grow at a CAGR of 5% during the forecast period.

Pet Tick and Flea Prevention Market: The pet tick and flea prevention market is estimated at US$ 8,886.2 Million in 2022 and is projected to reach US$ 13,150.0 Million by 2032, at a CAGR of 4.0% from 2022 to 2032.

Pet Apparel Market: The pet apparel market is estimated at USD 5.1 billion in 2022 and is projected to reach USD 7.0 billion by 2032, at a CAGR of 5.0% from 2017 to 2021.

Ceramic Barbeque Grill Market: The global ceramic barbeque grill market is expected to be valued at US$ 910.8 Million in 2022. Demand for ceramic barbeque grills will witness steady growth attributing to the rising number of outdoor recreational activities.

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006

Jumeirah Bay 2

Plot No: JLT-PH2-X2A

Jumeirah Lakes Towers

Dubai

United Arab Emirates

For Sales Enquiries: sales@futuremarketinsights.com

For Media Enquiries: press@futuremarketinsights.com

Website: https://www.futuremarketinsights.com

LinkedIn| Twitter| Blogs

The post Smart Home Appliances Market is Expected to be Valued at US$ 34.5 Billion in 2022 appeared first on Future Market Insights.

Original Source of the original story >> Smart Home Appliances Market is Expected to be Valued at US$ 34.5 Billion in 2022

This content is published on behalf of the above source. Please contact them directly for any concern related to the above.

This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.