Smart Appliances - Estonia | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$98.9m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.50%, resulting in a projected market volume of US$163.0m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 40.0k users by 2029.
Household penetration will be 4.0% in 2024 and is expected to hit 6.4% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$3.94k.

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 Estonia is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Estonia are shifting towards smart appliances that offer convenience, energy efficiency, and connectivity.

Consumers are increasingly looking for appliances that can be controlled remotely through smartphone apps or voice assistants, allowing them to manage their household tasks more efficiently. Additionally, there is a growing demand for appliances that are eco-friendly and can help reduce energy consumption, as sustainability becomes a key concern for many consumers. Trends in the market indicate a strong growth potential for smart appliances in Estonia.

The increasing penetration of internet connectivity and the widespread adoption of smartphones have created a favorable environment for the adoption of smart appliances. Moreover, the rise of smart homes and the integration of various devices and appliances into a connected ecosystem have further fueled the demand for smart appliances. This trend is expected to continue as more consumers become aware of the benefits and convenience offered by these appliances.

Local special circumstances in Estonia also contribute to the development of the Smart Appliances market. The country has a high internet penetration rate and a tech-savvy population, which creates a conducive environment for the adoption of smart technologies. Furthermore, the government of Estonia has been actively promoting digitalization and innovation, which has led to the development of a supportive infrastructure for smart appliances.

These factors have helped create a favorable market environment for the growth of the Smart Appliances market in Estonia. Underlying macroeconomic factors also play a role in the development of the Smart Appliances market in Estonia. The country has a stable economy with a high standard of living, which allows consumers to invest in premium appliances and smart technologies.

Additionally, the government offers various incentives and subsidies to promote energy efficiency and the use of renewable energy sources, which further encourages consumers to opt for smart appliances that can help reduce energy consumption. In conclusion, the Smart Appliances market in Estonia is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for convenience, energy efficiency, and connectivity, along with the favorable market environment and supportive infrastructure, is driving the adoption of smart appliances in Estonia.

As the market continues to evolve, it is expected to offer new opportunities for both domestic and international players in the Smart Appliances industry.

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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