Smart Appliances - Central Asia | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$31.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.78%, resulting in a projected market volume of US$54.6m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 572.1k users by 2029.
Household penetration will be 1.7% in 2024 and is expected to hit 3.2% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$112.20.

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 Central Asia is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Smart Appliances market are shifting towards convenience, efficiency, and connectivity.

Consumers are increasingly looking for appliances that can be controlled remotely, such as smart thermostats and smart lighting systems, as well as appliances that can be integrated with other smart devices in their homes. This preference for connected appliances is fueled by the desire for a more streamlined and automated lifestyle, where tasks can be easily managed and monitored through smartphone apps or voice assistants. Trends in the Smart Appliances market in Central Asia include the adoption of energy-efficient appliances and the rise of smart home ecosystems.

With growing concerns about climate change and energy consumption, consumers are seeking appliances that are more environmentally friendly and cost-effective in the long run. This has led to an increased demand for energy-efficient refrigerators, washing machines, and air conditioners. Additionally, the concept of a smart home, where all appliances and devices are interconnected and can be controlled through a central hub, is gaining popularity in the region.

This trend is driving the demand for smart appliances that can be seamlessly integrated into these smart home ecosystems. Local special circumstances in Central Asia, such as rapid urbanization and increasing disposable incomes, are contributing to the growth of the Smart Appliances market. As more people move to cities and live in smaller spaces, there is a greater need for compact and space-saving appliances.

This has led to the popularity of smart appliances that are designed to fit into smaller kitchens or apartments. Furthermore, rising disposable incomes in the region have made smart appliances more affordable and accessible to a larger consumer base. Underlying macroeconomic factors, such as technological advancements and government initiatives, are also driving the development of the Smart Appliances market in Central Asia.

The rapid advancement of technology has made smart appliances more efficient, reliable, and affordable, making them an attractive option for consumers. Additionally, governments in the region are promoting the adoption of smart appliances through various incentives and programs, such as subsidies for energy-efficient appliances or tax breaks for smart home installations. These initiatives are encouraging consumers to invest in smart appliances and are contributing to the overall growth of the market.

In conclusion, the Smart Appliances market in Central Asia is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards convenience, efficiency, and connectivity, along with the adoption of energy-efficient appliances and the rise of smart home ecosystems, are driving the demand for smart appliances in the region. Rapid urbanization, increasing disposable incomes, technological advancements, and government initiatives are also contributing to the growth of the market.

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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