Smart Appliances - Americas | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$14.5bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.78%, resulting in a projected market volume of US$23.1bn by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 98.5m users by 2029.
Household penetration will be 12.0% in 2024 and is expected to hit 33.2% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$421.70.

Definition:

Smart Appliances market includes connected versions of all kinds of household appliances. This includes large appliances (fridges, washing machines, ovens etc.) as well as small appliances (microwaves, coffee machines, vacuum and mowing robots etc.), provided they are connected to the internet. An indirect connection via a local network is also possible, as long as the remote access and control of the respective appliances via the connection is given.

Additional Information:

The market comprises revenue, average revenue per smart home, number of smart homes so as the household penetration rate by smart home, and key players. Figures are generated through both online and offline sales channels and include exclusive spending by consumers (B2C). Market leaders include Irobot, LG, Samsung, Xiaomi, and other brands renowned for their innovation, brand recognition, and expansive distribution channels within their respective categories. For more information on the data displayed, use the info button right next to the boxes.

Directly or indirectly internet-controllable household appliances
Large appliances such as fridges, washing machines, dishwashers, ovens (e.g., Samsung Side-by-Side, E, 614 ℓ, LG GSXV90MCDE Side-by-Side )
Small appliances such as coffee machines (e.g., Bosch CTL636EB6), vacuum and mowing robots (e.g., Roborock S8 Pro Ultra Robot Vacuum Cleaner), microwaves (e.g., SARO SAMSUNG MJ2691)

Any other smart home device (partially also referred to as “appliances”)
Any non-connected household appliances
B2B/C2C sales of any kind (e.g., to hotels or office buildings)

The Smart Appliances market in Americas is experiencing significant growth and development. Customer preferences are shifting towards more technologically advanced and connected appliances, driving the demand for smart appliances.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the growth of this market. Customer preferences in the Americas are increasingly focused on convenience and efficiency. Smart appliances offer features such as remote control, automation, and energy-saving capabilities, which align with these preferences.

Consumers are looking for appliances that can be controlled through their smartphones or voice assistants, allowing them to monitor and manage their appliances from anywhere. The ability to automate tasks and save energy is also highly valued, as it helps consumers save time and reduce their utility bills. Trends in the Smart Appliances market in the Americas are shaped by various factors.

One of the key trends is the increasing adoption of smart home technology. As more households invest in smart home systems, the demand for compatible smart appliances rises. This trend is driven by the convenience and integration that smart home systems offer, allowing consumers to control multiple appliances and devices through a single platform.

Another trend in the market is the growing popularity of energy-efficient appliances. With increasing awareness about environmental issues and rising energy costs, consumers in the Americas are prioritizing energy efficiency in their appliance purchases. Smart appliances often come with energy-saving features and can be programmed to optimize energy usage, making them an attractive choice for environmentally conscious consumers.

Local special circumstances in the Americas also contribute to the growth of the Smart Appliances market. In North America, for example, the aging population is driving the demand for smart appliances that cater to the needs of seniors. These appliances often come with features like voice control and easy-to-use interfaces, making them more accessible for older adults.

In South America, rapid urbanization and the increasing middle class population are fueling the demand for smart appliances as consumers seek to upgrade their homes with modern and connected technologies. Underlying macroeconomic factors also play a role in the development of the Smart Appliances market in the Americas. The region has a strong economy, with high disposable incomes in many countries.

This allows consumers to invest in higher-priced smart appliances, which are often more expensive than traditional appliances. Additionally, the increasing penetration of internet connectivity and smartphone usage in the Americas provides a solid foundation for the adoption of smart appliances, as these appliances rely on internet connectivity and smartphone integration. In conclusion, the Smart Appliances market in the Americas is experiencing growth and development driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The shift towards convenience and efficiency, the increasing adoption of smart home technology, the demand for energy-efficient appliances, and the unique needs of different regions in the Americas all contribute to the expansion of this market. With the continued advancement of technology and the increasing consumer demand for connected and intelligent appliances, the Smart Appliances market in the Americas is expected to continue its upward trajectory.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market category. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting innovative products due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated once a year, in case market dynamics change we do more frequent updates.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

Smart homes use connected devices and appliances to perform actions, tasks, and automated routines to save money, time, and energy. They are the ongoing revolution of the humble home appliance mixed with AI, robotics, and improvement in IoT technologies. AI in particular, speeding up response times and working as an automation bridge between homeowner and home is already having an impact.

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