Smart Home Appliances Market: 32% of Growth to Originate from North America, Offline Segment to be Significant for Revenue Generation - 17000+ Report
Smart Home Appliances Market: Segmentation Analysis
The market research report segments the smart home appliances market by Distribution Channel (Offline and Online), Product (Smart washing machines and dryers, Smart air conditioners, Smart refrigerators, Smart microwave ovens, and Smart dishwashers), and Geography (North America, Europe, APAC, South America, and the Middle East and Africa).
Revenue Generating Segment - The smart home appliances market share growth by the offline segment will be significant for revenue generation. The growth is attributed to the increase in preference by consumers for the purchase of smart home appliances owing to growing urbanization, increasing middle-class income population, and the rapid growth of developing countries.
Smart Home Appliances Market: 32% of Growth to Originate from North America, Offline Segment to be Significant for Revenue Generation - 17000+ Technavio Reports
NEW YORK, Aug. 3, 2022 /PRNewswire/ -- The smart home appliances market estimates a market value of USD 34.31 Million from 2021 to 2026 as per the latest market forecast report by Technavio. The report projects the market to progress at a CAGR of 15%. 32% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for smart home appliances in North America. However, market growth in this region will be slower than the growth of the market in other regions. An increase in the popularity and adoption of smart home technology, owing to the implementation of stringent government regulations and standards related to energy usage will facilitate the smart home appliances market growth in North America over the forecast period.
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Smart Home Appliances Market: Segmentation Analysis
The market research report segments the smart home appliances market by Distribution Channel (Offline and Online), Product (Smart washing machines and dryers, Smart air conditioners, Smart refrigerators, Smart microwave ovens, and Smart dishwashers), and Geography (North America, Europe, APAC, South America, and the Middle East and Africa).
Revenue Generating Segment - The smart home appliances market share growth by the offline segment will be significant for revenue generation. The growth is attributed to the increase in preference by consumers for the purchase of smart home appliances owing to growing urbanization, increasing middle-class income population, and the rapid growth of developing countries.
Smart Home Appliances Market: Major Driver
The key factor driving the global smart home appliances market growth is product innovation in terms of technology, performance, features, and design.
Smart home appliances are equipped with cameras, sensors, and connectivity features to enable remote monitoring and control. For instance, Samsung Electronics offers a Counter Depth 4-Door French Door Refrigerator with Family Hub Recessed Handles. Many smart home appliances can shop online without any intervention from the end-users.
For instance, a smart refrigerator can automatically replenish the supply. Samsung Electronics smart refrigerators can order food through their grocery shopping partner Instacart.
Similarly, a smart washing machine can place an order for fabric softeners and washing powder. Such factors are expected toimpact the market growth in a positive manner during the forecast period.
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