Smart Appliances - Argentina | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$61.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -5.87%, resulting in a projected market volume of US$45.1m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 6.7m users by 2029.
Household penetration will be 15.8% in 2024 and is expected to hit 61.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$36.11.

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 Argentina is experiencing significant growth and development. Customer preferences are shifting towards smart home technology, leading to increased demand for smart appliances.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the market's expansion. Customer preferences in Argentina are increasingly focused on convenience, energy efficiency, and connectivity. Smart appliances offer a range of benefits that align with these preferences.

For example, smart refrigerators can provide real-time information about food inventory and expiration dates, helping consumers reduce waste and save money. Smart washing machines can be controlled remotely, allowing users to start or stop laundry cycles from their smartphones. These features appeal to consumers who value convenience and efficiency in their daily lives.

Another trend in the Smart Appliances market in Argentina is the integration of smart devices with voice assistants. Voice-controlled appliances, such as smart speakers and smart thermostats, are becoming more popular among consumers. This trend is driven by the desire for seamless connectivity and hands-free operation.

Voice assistants provide a convenient way for users to interact with their appliances and control them through simple voice commands. Local special circumstances also contribute to the growth of the Smart Appliances market in Argentina. The country has a high smartphone penetration rate, with a large portion of the population using smartphones for various purposes.

This widespread use of smartphones creates a favorable environment for the adoption of smart appliances, as consumers are already accustomed to using mobile devices for daily tasks. Furthermore, Argentina has a growing middle class with increasing disposable income. As consumers become more affluent, they are willing to invest in smart appliances that offer convenience, energy efficiency, and improved quality of life.

This rising purchasing power drives the demand for smart appliances in the market. Underlying macroeconomic factors also play a role in the development of the Smart Appliances market in Argentina. The government has implemented policies to promote energy efficiency and sustainability, which encourage consumers to choose energy-efficient appliances.

Smart appliances, with their advanced technology and energy-saving features, align with these policies and are therefore in high demand. In conclusion, the Smart Appliances market in Argentina is experiencing growth and development due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Consumers in Argentina are increasingly seeking convenience, energy efficiency, and connectivity, which smart appliances can provide.

The integration of smart devices with voice assistants and the widespread use of smartphones further contribute to the market's expansion. Additionally, the country's growing middle class and government policies promoting energy efficiency drive the demand for smart appliances.

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.

“Alexa, can you tell me something about smart speakers?” is just one of the many questions smart speakers can answer today, with people using and relying on these devices for a wide range of purposes. Smart speakers are devices powered by a voice-enabled virtual intelligent assistant and can work as central controlling hubs for smart homes. Indeed, capable of performing a vast array of functions, such devices are used not only for entertainment, but also for searching the web, answering questions, and many other activities, such as creating a shopping list and providing you with weather forecast. In line with the rising popularity of smart home technology, the prevalence of smart speakers in households has steadily grown and are today among consumers’ favorite electronic devices.