Smart Appliances - Benelux | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$1.1bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.98%, resulting in a projected market volume of US$1.6bn by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 6.8m users by 2029.
Household penetration will be 16.2% in 2024 and is expected to hit 49.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$487.50.

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 Benelux is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Benelux region are shifting towards smart appliances that offer convenience, energy efficiency, and connectivity.

Consumers are increasingly looking for appliances that can be controlled remotely through smartphones or voice assistants, allowing them to manage their household tasks more efficiently. Additionally, there is a growing awareness of the environmental impact of traditional appliances, leading to a preference for energy-saving devices that can help reduce electricity consumption. Trends in the market are also contributing to the growth of the Smart Appliances market in Benelux.

The Internet of Things (IoT) is playing a crucial role in driving the adoption of smart appliances. With IoT connectivity, appliances can communicate with each other and with the user, enabling seamless integration and automation of household tasks. This trend is particularly appealing to tech-savvy consumers in the Benelux region who value the convenience and time-saving benefits of smart appliances.

Furthermore, there is a growing demand for appliances that offer advanced features such as voice control, personalized settings, and data analytics, which enhance the overall user experience. Local special circumstances in the Benelux region are also contributing to the growth of the Smart Appliances market. The region has a high level of internet penetration and smartphone usage, providing a solid infrastructure for the adoption of smart appliances.

Additionally, the Benelux region has a strong focus on sustainability and energy efficiency, with governments and organizations promoting the use of eco-friendly appliances. This creates a favorable environment for the sale of smart appliances that offer energy-saving features and contribute to a greener lifestyle. Underlying macroeconomic factors are also driving the growth of the Smart Appliances market in Benelux.

The region has a stable and prosperous economy, with high disposable incomes and a strong purchasing power. This enables consumers to invest in premium smart appliances that offer advanced features and higher quality. Moreover, the increasing urbanization in the region is leading to smaller living spaces, which creates a need for compact and multifunctional appliances that can optimize space utilization.

In conclusion, the Smart Appliances market in Benelux is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for convenience, energy efficiency, and connectivity is driving the adoption of smart appliances in the region. With the increasing popularity of IoT, advanced features, and a focus on sustainability, the market is expected to continue its growth trajectory in the coming years.

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.