Smart Appliances - Southern Europe

Revenue in the Smart Appliances market is projected to reach US$1.6bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.79%, resulting in a projected market volume of US$2.5bn by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 16.6m users by 2029.
Household penetration will be 7.3% in 2024 and is expected to hit 20.6% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$274.50.

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 Southern Europe is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Southern Europe are shifting towards more sustainable and energy-efficient products.

Consumers are increasingly concerned about the environmental impact of their purchases and are seeking appliances that can help them reduce their carbon footprint. Smart appliances, such as energy-efficient refrigerators, washing machines, and thermostats, are becoming popular choices among consumers in the region. These appliances are designed to optimize energy consumption and reduce waste, aligning with the growing demand for eco-friendly solutions.

Trends in the market indicate a rising adoption of smart home technologies in Southern Europe. The integration of smart appliances with home automation systems allows users to control and monitor their appliances remotely through smartphone applications. This convenience and connectivity appeal to tech-savvy consumers who seek a seamless and efficient lifestyle.

Additionally, the increasing availability of high-speed internet and the proliferation of smart devices contribute to the growing demand for smart appliances in the region. Local special circumstances, such as government initiatives and regulations, also play a role in the development of the Smart Appliances market in Southern Europe. Governments in the region are implementing policies to promote energy efficiency and sustainability.

These policies include incentives for consumers to purchase energy-efficient appliances and regulations that require manufacturers to meet certain energy efficiency standards. Such initiatives create a favorable environment for the growth of the smart appliances market as manufacturers and consumers are incentivized to invest in energy-efficient solutions. Underlying macroeconomic factors further support the development of the Smart Appliances market in Southern Europe.

The region has a relatively high disposable income, allowing consumers to invest in premium products that offer advanced features and technologies. Additionally, the increasing urbanization and busy lifestyles in Southern Europe drive the demand for appliances that can automate and simplify household tasks. Smart appliances, with their ability to streamline and optimize daily routines, cater to these needs and preferences.

In conclusion, the Smart Appliances market in Southern Europe is witnessing growth driven by changing customer preferences towards sustainability, emerging trends in smart home technologies, local special circumstances such as government initiatives, and underlying macroeconomic factors. As consumers seek more energy-efficient and connected solutions, the demand for smart appliances is expected to continue to rise in the region.

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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