Smart Appliances - North America | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$13.1bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.70%, resulting in a projected market volume of US$20.8bn by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 67.3m users by 2029.
Household penetration will be 14.7% in 2024 and is expected to hit 37.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$508.20.

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 North America is witnessing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in North America are shifting towards smart appliances that offer convenience, energy efficiency, and connectivity.

Consumers are increasingly looking for appliances that can be controlled remotely through smartphones or voice assistants, allowing them to monitor and manage their appliances from anywhere. Additionally, energy efficiency is a key consideration for customers, as they seek to reduce their carbon footprint and lower their energy bills. Smart appliances offer features such as energy monitoring and optimization, which appeal to environmentally conscious consumers.

Trends in the market indicate a growing adoption of smart appliances across various product categories in North America. The demand for smart refrigerators, for example, is increasing as consumers seek features like inventory management, automatic temperature control, and integration with grocery shopping platforms. Similarly, smart washing machines are gaining popularity due to their ability to optimize water usage, provide personalized washing cycles, and send alerts when the laundry is done.

Other smart appliances such as ovens, dishwashers, and air conditioners are also witnessing steady growth in the market. Local special circumstances in North America contribute to the development of the smart appliances market. The region has a high level of technological adoption and a strong infrastructure for connectivity, which facilitates the integration of smart appliances into households.

Moreover, North America has a large middle-class population with disposable income, enabling them to invest in smart appliances that offer long-term cost savings and convenience. The region also has a culture of innovation and early adoption of new technologies, creating a favorable environment for the growth of the smart appliances market. Underlying macroeconomic factors further drive the development of the smart appliances market in North America.

The region has a stable economy and a high standard of living, which allows consumers to prioritize convenience and luxury in their purchasing decisions. Additionally, government initiatives and regulations promoting energy efficiency and sustainability encourage consumers to opt for smart appliances that align with these goals. The presence of established manufacturers and retailers in the region also contributes to the availability and accessibility of smart appliances in the market.

In conclusion, the Smart Appliances market in North America is experiencing significant growth and development driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for smart appliances is on the rise as consumers prioritize convenience, energy efficiency, and connectivity. With a culture of innovation, strong technological infrastructure, and favorable economic conditions, North America presents a promising market for smart appliances.

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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