Smart Appliances - Croatia | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$18.3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.76%, resulting in a projected market volume of US$33.4m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 172.0k users by 2029.
Household penetration will be 6.6% in 2024 and is expected to hit 12.3% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$191.50.

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 Croatia is experiencing significant growth and development, driven by changing customer preferences and the increasing adoption of smart technology in households. Customer preferences in Croatia are shifting towards convenience and efficiency, leading to a growing demand for smart appliances.

Consumers are increasingly looking for appliances that can be controlled remotely, allowing them to save time and energy. This trend is particularly evident in the kitchen appliances segment, where smart refrigerators, ovens, and dishwashers are gaining popularity. Additionally, consumers are becoming more conscious about energy consumption and environmental impact, leading to an increased interest in energy-efficient smart appliances.

Trends in the market indicate a strong growth potential for smart appliances in Croatia. The increasing availability of high-speed internet and the widespread use of smartphones have created a conducive environment for the adoption of smart technology. Smart appliances offer features such as remote control, energy monitoring, and personalized settings, which resonate with the tech-savvy Croatian consumers.

As a result, the market for smart appliances is expected to continue expanding in the coming years. Local special circumstances in Croatia also contribute to the development of the smart appliances market. The country has a high smartphone penetration rate, with a significant portion of the population owning smartphones.

This provides a solid foundation for the adoption of smart appliances, as consumers are already familiar with using mobile devices to control various aspects of their lives. Additionally, the government of Croatia has been actively promoting the use of energy-efficient appliances through various incentives and subsidies, further driving the demand for smart appliances. Underlying macroeconomic factors also play a role in the growth of the smart appliances market in Croatia.

The country has experienced stable economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed consumers to invest in higher-end appliances, including smart appliances, which are often priced at a premium compared to traditional appliances. Furthermore, the increasing awareness about energy efficiency and environmental sustainability has created a favorable market environment for smart appliances, as consumers are willing to pay a premium for appliances that offer energy-saving features.

In conclusion, the Smart Appliances market in Croatia is witnessing significant growth and development, driven by changing customer preferences, increasing adoption of smart technology, local special circumstances, and underlying macroeconomic factors. The demand for smart appliances is expected to continue rising as consumers prioritize convenience, efficiency, and energy savings in their households.

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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