Smart Appliances - South Africa | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$417.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.84%, resulting in a projected market volume of US$698.8m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 6.2m users by 2029.
Household penetration will be 10.8% in 2024 and is expected to hit 39.7% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$261.80.

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 South Africa is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in South Africa are increasingly seeking smart appliances that offer convenience, energy efficiency, and connectivity. With the rise of smart home technology, consumers are looking for appliances that can be controlled remotely through smartphone apps or voice assistants. They are also interested in appliances that can learn and adapt to their preferences, such as smart thermostats that can adjust the temperature based on occupancy patterns. Additionally, there is a growing demand for energy-efficient appliances that can help reduce electricity costs and minimize environmental impact.

Trends in the market: One of the major trends in the Smart Appliances market in South Africa is the adoption of smart kitchen appliances. Smart refrigerators, ovens, and dishwashers are gaining popularity among consumers who value convenience and efficiency in their cooking and meal preparation routines. These appliances offer features such as recipe suggestions, remote monitoring, and voice control, making them attractive to tech-savvy consumers. Another trend in the market is the integration of smart appliances with home automation systems. South African consumers are increasingly investing in smart home ecosystems that allow them to control and monitor various aspects of their homes, including appliances, lighting, security systems, and entertainment devices. This integration provides a seamless user experience and enhances the overall functionality of smart appliances.

Local special circumstances: South Africa has a growing middle class with increasing disposable income, which is driving the demand for smart appliances. As more households have access to electricity and internet connectivity, the market for smart appliances is expanding. Additionally, the government's focus on energy efficiency and sustainability is creating a favorable environment for the adoption of smart appliances that help reduce energy consumption.

Underlying macroeconomic factors: The South African economy has been experiencing moderate growth, which has positively influenced consumer spending. As the economy continues to recover, consumers are becoming more willing to invest in higher-priced smart appliances. Furthermore, advancements in technology and increased competition in the market have led to a decrease in the prices of smart appliances, making them more accessible to a wider range of consumers. In conclusion, the Smart Appliances market in South Africa is witnessing growth due to changing customer preferences, emerging trends, and local special circumstances. Consumers are increasingly seeking convenience, energy efficiency, and connectivity in their appliances, leading to the adoption of smart kitchen appliances and integration with home automation systems. The growing middle class and government focus on energy efficiency are driving the demand for smart appliances, while the recovering economy and decreasing prices are making them more affordable to consumers.

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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