Smart Appliances - CIS | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$1.2bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.53%, resulting in a projected market volume of US$1.9bn by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 14.7m users by 2029.
Household penetration will be 8.2% in 2024 and is expected to hit 24.8% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$244.90.

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 CIS is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Smart Appliances market in CIS are shifting towards more energy-efficient and connected appliances.

Consumers are increasingly looking for appliances that can be controlled remotely through smartphone apps and offer features such as energy monitoring and optimization. This shift in preferences is driven by the growing awareness of energy conservation and the convenience of remote control and monitoring. Additionally, consumers in CIS are also placing a greater emphasis on the aesthetics of smart appliances, with sleek and modern designs being preferred.

Trends in the Smart Appliances market in CIS are also contributing to its development. One major trend is the integration of artificial intelligence (AI) and machine learning technologies into smart appliances. This allows appliances to learn from user behavior and adapt their settings to optimize energy consumption and performance.

Another trend is the increasing availability of smart appliances that are compatible with voice assistants, enabling users to control their appliances through voice commands. These trends are driven by advancements in AI and voice recognition technologies, as well as the growing popularity of smart home ecosystems. Local special circumstances in CIS also play a role in the development of the Smart Appliances market.

The region has a large population with increasing disposable income, which is driving the demand for smart appliances. Additionally, CIS countries have a high reliance on energy imports, making energy efficiency a priority for both consumers and governments. This creates a favorable environment for the adoption of energy-efficient smart appliances.

Underlying macroeconomic factors further contribute to the growth of the Smart Appliances market in CIS. The region is experiencing economic growth, which is leading to an increase in consumer spending power. This, in turn, fuels the demand for smart appliances.

Furthermore, governments in CIS countries are implementing policies and regulations to promote energy efficiency and sustainability. These policies create incentives for consumers to invest in smart appliances and drive the market growth. In conclusion, the Smart Appliances market in CIS is developing due to changing customer preferences towards energy-efficient and connected appliances, emerging trends in the market such as AI integration and voice control, local special circumstances including a large population with increasing disposable income and a focus on energy efficiency, and underlying macroeconomic factors including economic growth and government policies.

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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