Smart Appliances - Switzerland | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$422.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.43%, resulting in a projected market volume of US$662.6m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 3.5m users by 2029.
Household penetration will be 24.2% in 2024 and is expected to hit 82.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$427.20.

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 Switzerland has been experiencing steady growth over the past few years, driven by changing customer preferences and advancements in technology.

Customer preferences: Swiss customers have shown a growing interest in smart appliances due to their convenience and energy-saving features. With the increasing awareness of environmental issues and the need to reduce energy consumption, consumers are actively seeking out appliances that are energy-efficient and can be controlled remotely. Smart appliances offer features such as remote monitoring and control, energy usage tracking, and automation, which align with the preferences of Swiss consumers. Additionally, the convenience factor of being able to control appliances through smartphone apps or voice commands has also contributed to the popularity of smart appliances in Switzerland.

Trends in the market: One of the key trends in the smart appliances market in Switzerland is the integration of artificial intelligence (AI) and machine learning technologies. AI-powered smart appliances can learn and adapt to user preferences, making them more efficient and personalized. For example, smart refrigerators can analyze food consumption patterns and suggest recipes or create shopping lists based on the items available. This trend is driven by advancements in AI technology and the increasing demand for personalized experiences. Another trend in the market is the integration of smart appliances with smart home systems. Swiss consumers are increasingly adopting smart home technologies, such as voice assistants and home automation systems. The integration of smart appliances with these systems allows for seamless control and automation of various household tasks. For example, users can set up routines where the coffee maker starts brewing coffee as soon as the alarm goes off in the morning. This trend is driven by the desire for a connected and automated home environment.

Local special circumstances: Switzerland is known for its high standards of quality and precision engineering. Swiss consumers have a preference for durable and reliable products, and this extends to smart appliances as well. They expect smart appliances to be of high quality and built to last. This preference for quality and durability has influenced the market, with manufacturers focusing on producing smart appliances that meet these expectations.

Underlying macroeconomic factors: The strong economy and high disposable income levels in Switzerland have also contributed to the growth of the smart appliances market. Swiss consumers have the financial means to invest in high-end smart appliances, which tend to be more expensive than traditional appliances. The stable economic conditions and high purchasing power have created a favorable environment for the growth of the market. In conclusion, the Smart Appliances market in Switzerland is driven by changing customer preferences, including a focus on energy efficiency and convenience. Integration of AI and machine learning technologies, as well as the integration of smart appliances with smart home systems, are key trends in the market. The preference for quality and durability, along with the strong economy and high disposable income levels, further contribute to the growth of the market in Switzerland.

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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