Smart Appliances - Cambodia | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$6.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.77%, resulting in a projected market volume of US$10.3m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 142.3k users by 2029.
Household penetration will be 2.1% in 2024 and is expected to hit 4.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$96.71.

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 Cambodia is experiencing steady growth and development, driven by changing customer preferences and the increasing adoption of smart technology in households. Customer preferences in Cambodia are shifting towards convenience, efficiency, and connectivity.

Consumers are increasingly looking for appliances that can be controlled remotely, provide real-time data, and offer energy-saving features. This is driving the demand for smart appliances such as smart refrigerators, air conditioners, washing machines, and kitchen appliances. Additionally, the rising middle class in Cambodia is willing to invest in high-quality products that enhance their lifestyle and provide convenience in their daily lives.

Trends in the market indicate that smart appliances are becoming more affordable and accessible to a wider range of consumers in Cambodia. The prices of smart appliances have been gradually decreasing due to advancements in technology, increased competition among manufacturers, and economies of scale. This has made smart appliances more affordable for the average Cambodian household, driving the demand and adoption of these products.

Local special circumstances in Cambodia also contribute to the growth of the Smart Appliances market. The country has been experiencing rapid urbanization and modernization, with more people moving to cities and adopting a modern lifestyle. This urbanization trend is driving the demand for smart appliances, as urban dwellers are more likely to invest in technologically advanced products that improve their quality of life.

Additionally, Cambodia has a young and tech-savvy population, which further fuels the demand for smart appliances. Underlying macroeconomic factors also play a role in the development of the Smart Appliances market in Cambodia. The country has been experiencing steady economic growth, which has led to an increase in disposable income and purchasing power.

As consumers have more money to spend, they are more likely to invest in smart appliances that offer convenience and efficiency. Furthermore, the government of Cambodia has been actively promoting the adoption of smart technology and digitalization, which creates a favorable environment for the growth of the Smart Appliances market. In conclusion, the Smart Appliances market in Cambodia is growing due to changing customer preferences, the increasing affordability of smart appliances, local special circumstances, and underlying macroeconomic factors.

As consumers in Cambodia seek convenience, efficiency, and connectivity in their appliances, the demand for smart appliances is expected to continue to rise 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.

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