Smart Appliances - Turkey | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$398.7m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.12%, resulting in a projected market volume of US$562.3m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 7.4m users by 2029.
Household penetration will be 10.8% in 2024 and is expected to hit 36.2% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$186.60.

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 Turkey is experiencing significant growth and development, driven by various factors such as increasing consumer demand, technological advancements, and favorable government initiatives. Customer preferences in the Smart Appliances market in Turkey are shifting towards energy-efficient and connected appliances.

Consumers are increasingly looking for appliances that not only provide convenience but also help them save on energy costs. This trend is driven by growing awareness of environmental issues and the need to reduce energy consumption. Additionally, consumers are seeking appliances that can be controlled and monitored remotely through smartphones or other smart devices, allowing them to manage their homes more efficiently.

Trends in the Smart Appliances market in Turkey include the adoption of smart home systems and the integration of artificial intelligence (AI) technology. Smart home systems, which connect multiple appliances and devices in a home, are becoming more popular as they offer convenience and energy savings. AI technology is also being integrated into appliances, enabling them to learn and adapt to user preferences, further enhancing convenience and efficiency.

Local special circumstances in Turkey contribute to the development of the Smart Appliances market. The country has a young and tech-savvy population, which is driving the demand for smart appliances. Additionally, the government has been actively promoting the use of energy-efficient appliances through incentives and regulations.

This has encouraged manufacturers to develop and market smart appliances that meet the country's energy efficiency standards. Underlying macroeconomic factors in Turkey, such as a growing middle class and increasing disposable incomes, are also driving the growth of the Smart Appliances market. As more households have the financial means to invest in smart appliances, the market is expanding rapidly.

Furthermore, the urbanization trend in Turkey is leading to smaller living spaces, which creates a demand for compact and multifunctional appliances that can maximize space utilization. In conclusion, the Smart Appliances market in Turkey is witnessing significant growth and development due to changing customer preferences, technological advancements, favorable government initiatives, and underlying macroeconomic factors. The demand for energy-efficient and connected appliances, the adoption of smart home systems, and the integration of AI technology are some of the key trends driving the market.

Local special circumstances, such as a young and tech-savvy population and government support for energy-efficient appliances, further contribute to the market's growth.

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.

“Alexa, can you tell me something about smart speakers?” is just one of the many questions smart speakers can answer today, with people using and relying on these devices for a wide range of purposes. Smart speakers are devices powered by a voice-enabled virtual intelligent assistant and can work as central controlling hubs for smart homes. Indeed, capable of performing a vast array of functions, such devices are used not only for entertainment, but also for searching the web, answering questions, and many other activities, such as creating a shopping list and providing you with weather forecast. In line with the rising popularity of smart home technology, the prevalence of smart speakers in households has steadily grown and are today among consumers’ favorite electronic devices.