Smart Appliances - Zimbabwe | Statista Market Forecast

Revenue in the Smart Appliances market is projected to reach US$3.4m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.95%, resulting in a projected market volume of US$6.2m by 2029.
In the Smart Appliances market, the number of active households is expected to amount to 84.2k users by 2029.
Household penetration will be 1.1% in 2024 and is expected to hit 2.1% by 2029.
The average revenue per installed Smart Home currently is expected to amount to US$84.55.

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 Zimbabwe is experiencing significant growth and development, driven by the increasing demand for advanced and innovative household appliances.

Customer preferences: In Zimbabwe, customers are increasingly seeking smart appliances that offer convenience, energy efficiency, and improved functionality. The rising disposable income and changing lifestyles have led to a greater emphasis on modern and technologically advanced appliances that can simplify daily tasks and enhance the overall living experience. Consumers are particularly interested in smart appliances that can be controlled and monitored remotely through smartphone applications, allowing them to save time and energy.

Trends in the market: One of the key trends in the Smart Appliances market in Zimbabwe is the growing popularity of smart home systems. These systems integrate various smart appliances, such as refrigerators, washing machines, and air conditioners, into a centralized control system. This enables users to manage and monitor multiple appliances simultaneously, enhancing convenience and efficiency. The demand for smart home systems is driven by the desire for a seamless and interconnected living environment. Another trend in the market is the increasing adoption of energy-efficient smart appliances. Zimbabwe has been facing energy challenges, with frequent power outages and high electricity costs. As a result, consumers are actively seeking appliances that consume less energy and contribute to cost savings. Smart appliances, such as energy-efficient refrigerators and air conditioners, are designed to optimize energy usage and reduce electricity bills. This trend aligns with the growing global focus on sustainability and environmental conservation.

Local special circumstances: Zimbabwe's Smart Appliances market is also influenced by local factors such as infrastructure limitations and affordability. While there is a growing demand for smart appliances, the availability of reliable internet connectivity and infrastructure to support these appliances remains a challenge in some areas. Additionally, the high cost of smart appliances can be a barrier to adoption for some consumers, particularly those with lower income levels. Manufacturers and retailers need to address these challenges by expanding internet connectivity and offering affordable smart appliance options.

Underlying macroeconomic factors: The growth of the Smart Appliances market in Zimbabwe is also influenced by underlying macroeconomic factors. The country's improving economic conditions, including stable inflation rates and increased foreign investment, have contributed to the growth of the middle class. As a result, more consumers have the purchasing power to invest in smart appliances. Furthermore, the government's focus on infrastructure development and technological advancements has created a favorable environment for the adoption of smart appliances. In conclusion, the Smart Appliances market in Zimbabwe is witnessing significant growth and development due to changing customer preferences, including the demand for convenience and energy efficiency. The market is characterized by the increasing popularity of smart home systems and energy-efficient appliances. However, local factors such as infrastructure limitations and affordability need to be addressed to ensure widespread adoption. The growth of the market is also influenced by underlying macroeconomic factors, including the improving economic conditions and government initiatives.

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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