Smart Appliances - Austria

Austria

The Smart Appliances market in Austria is projected to experience significant growth in revenue, with an estimated value of US$321.2m in 2024.
This growth is expected to continue at an annual rate of 10.35% (CAGR 2024-2028), reaching a projected market volume of US$476.2m by 2028.
Furthermore, the number of active households in the Smart Appliances market is anticipated to reach 1.5m users by 2028.
This indicates a growing adoption of smart appliances among Austrian households.
The household penetration of smart appliances is expected to increase from 14.3% in 2024 to 35.5% by 2028.
This demonstrates a rising trend of integrating smart appliances into Austrian homes.
Currently, the average revenue per installed Smart_Home is estimated to be US$0.54k.
This indicates the financial value that smart appliances bring to households in Austria.
When comparing revenues globally, it is noteworthy that in China leads the market with a revenue of US$17,040.0m in 2024.
This highlights the significant market presence of smart appliances in China.
Overall, the Smart Appliances market in Austria is poised for growth, with increasing revenue, household adoption, and market penetration.
Austria is experiencing a surge in demand for smart appliances as consumers seek energy-efficient and convenient solutions for their homes.

Key regions: Sweden, Denmark, Japan, China, Europe

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Analyst Opinion

The segment Smart Appliances includes connected versions of all kinds of household appliances. In most cases, smart appliances are incremental innovations which add new features to existing products rather than creating totally new devices. The high amount of revenues are generated mainly by relatively high product prices. Many customers as a first step purchase lower-priced small appliances such as smart coffee machines or vacuum robots, whereas people who already own products from other segments are more likely to purchase large, higher-priced appliances like fridges. We expect devices to be adopted rather moderately in Europe and North America, but more quickly in Asia.

Methodology

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 segment. 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 digital products and services 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 twice a year in case market dynamics change.