Smart Appliances - Canada | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$990.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.40%, 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 4.4m users by 2029.
Household penetration will be 18.0% in 2024 and is expected to hit 41.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$535.60.

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 Canada has been experiencing significant growth in recent years.

Customer preferences: Customers in Canada are increasingly looking for appliances that offer convenience, energy efficiency, and connectivity. Smart appliances, which can be controlled remotely through smartphones or other devices, are becoming increasingly popular among Canadian consumers. These appliances allow users to monitor and control their appliances from anywhere, providing them with greater flexibility and convenience in managing their household chores. Additionally, energy efficiency is a major concern for Canadian consumers, and smart appliances are designed to optimize energy usage, thereby reducing electricity bills and minimizing environmental impact.

Trends in the market: One of the key trends in the Smart Appliances market in Canada is the integration of artificial intelligence (AI) and machine learning technologies. Smart appliances are now equipped with AI capabilities that enable them to learn from user behavior and adjust their settings accordingly. For example, a smart thermostat can learn the temperature preferences of the household members and automatically adjust the heating or cooling settings to optimize energy usage. This trend is driven by the increasing demand for personalized and automated solutions that can simplify daily tasks. Another trend in the market is the growing popularity of voice-controlled smart appliances. With the rise of virtual assistants like Amazon Alexa and Google Assistant, consumers can now control their appliances through voice commands. This hands-free control feature is particularly appealing to Canadian consumers who value convenience and ease of use. Voice-controlled smart appliances are also seen as a safer option, as they eliminate the need for physical interaction with the appliance, reducing the risk of accidents or injuries.

Local special circumstances: Canada has a relatively high internet penetration rate, which is a key enabler for the adoption of smart appliances. The widespread availability of high-speed internet connections allows Canadian consumers to easily connect their appliances to the internet and enjoy the benefits of smart technology. Additionally, the Canadian government has been promoting energy efficiency and sustainability initiatives, which has further fueled the demand for smart appliances that can help consumers reduce their carbon footprint.

Underlying macroeconomic factors: The growing Smart Appliances market in Canada is also influenced by macroeconomic factors such as increasing disposable income and urbanization. As the Canadian economy continues to grow, consumers have more purchasing power to invest in high-tech appliances. Moreover, the trend of urbanization has led to smaller living spaces, which has created a need for compact and space-saving appliances. Smart appliances, with their compact designs and multifunctional capabilities, are well-suited for urban dwellers who prioritize efficiency and convenience. In conclusion, the Smart Appliances market in Canada is driven by customer preferences for convenience, energy efficiency, and connectivity. The integration of AI and voice control technologies, along with the availability of high-speed internet and government initiatives, have contributed to the growth of the market. With the increasing disposable income and urbanization, the demand for smart appliances is expected to continue to rise in Canada.

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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