With rising disposable income, it is often observed that the general populace is ready to spend a substantial amount of their income on comfort and convenience. Since, the number of devices per person, in today’s day and age, is surging rapidly, every device people use in homes, offices, gyms, and even schools, will likely be connected to each other.
The appliances are not new to consumers as many industry giants’ products have successfully made their way into people’s hearts. This is one of the main reasons why this industry is slated to grow at a CAGR of 8.80% through 2034. Companies like Samsung, LG, Google, and Apple are revolutionizing the way consumers see home appliances and have taken the market valuation to a staggering US$ 37,980.4 million in 2024.
Billions of dollars have been invested by these companies in making these appliances more energy-efficient, interactive, and responsive. Smart fans, washing machines, refrigerators, cleaning robots, alarms, thermostats, etc. are all programmed to work in cohesion with each other to make the lives of households super comfortable while saving energy and hence capital. These additions to already existing capabilities of connected home appliances are seen as factors to take the market to a valuation of US$ 88,030.6 million by 2034.
Attributes | Details |
---|---|
Market Value for 2024 | US$ 37,980.4 million |
Projected Market Value for 2034 | US$ 88,030.6 million |
Value-based CAGR of the Market for 2024 to 2034 | 8.80% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
In smart home ecosystems, connected home appliances are used for various purposes like laundry, kitchen, water treatment, air purifying, etc. Among these, the kitchen segment is penned in to hold a market share of 31.40% in 2024.
Attributes | Details |
---|---|
Appliance Type | Kitchen |
Market Share (2024) | 31.40% |
People’s reliance on technology is rising day by day. Connected home appliances have long made their way into the kitchen. Smart refrigerators, dishwashers, ovens, toasters, etc. have bolstered the market growth in the past few years.
The market is also growing as consumers are increasingly being put off by high electricity bills and the cost of fuel consumption. Connected home appliances, especially those operating in the kitchen, are designed to consume less electricity without compromising on performance or functionality.
Connected home appliances operate on various technologies, such as NFC, Wi-Fi, and Bluetooth. On the basis of technology, the near field communication segment is in line to take the majority share of 42.40% of the market in 2024.
Attributes | Details |
---|---|
Technology Type | NFC-powered |
Market Share (2024) | 42.40% |
Connected home appliances that use near-field communication are in great demand, especially in countries with cheap internet and affluent populations as they offer convenience, efficiency, and automation in everyday tasks. These appliances allow users to control and monitor various devices from their smartphones or other NFC-enabled devices, that too, without the need for complex setups or configurations.
Countries | CAGR (2024 to 2034) |
---|---|
Australia | 12.30% |
China | 9.30% |
United States | 5.60% |
Germany | 4.20% |
Japan | 3.50% |
The market in Australia is slated to grow at a CAGR of 12.30% for the forecasted period of 2024 to 2034.
China is a lucrative country in this market. The market is expected to grow at a CAGR of 9.30% through the forecast period in the country.
The market in the United States is a promising one. It is slated to grow at a CAGR of 5.60% through 2034.
The Germany connected home appliance market is likely to flourish in the coming years. It is slated to grow at a CAGR of 4.20% through 2034.
The future of the Japanese connected home appliance market looks bright. The market is slated to grow at a CAGR of 3.50% through 2034 in the country.
The market is evolving day by day with the influx of new technologies and market players. Industry giants like Apple, Samsung, LG, Google, etc., are pouring billions of dollars into curating products that are not only affordable but also easy to operate. They are also bringing in technologies that use AI to optimize user experience and make home automation more intuitive and efficient.
Mergers and acquisitions are a common strategy used by companies to leverage each other's strong points. For instance, in August 2023, Samsung and LG collaborated to develop a unified smart home system, allowing users to control appliances through either brand's app. The interoperability initiative aimed to enhance connectivity and energy efficiency, with plans to include other global brands.
Recent Developments
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The connected home appliance market is expected to be worth US$ 37,980.4 million by 2024.
The connected home appliance market is expected to reach a valuation of US$ 88,030.6 million by 2034.
The connected home appliance market is in line to grow at a CAGR of 8.80% from 2024 to 2034.
Samsung Group, LG, Apple, Whirlpool, etc., are some of the major players in the market.
The valuation for the connected home appliance market in 2023 was US$ 35,434.2 million.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Manufacturer
3.5.1.2. Mid-Level Participants (Traders)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Appliance Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Appliance Type, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Appliance Type, 2024 to 2034
5.3.1. Laundry
5.3.1.1. Smart Washers
5.3.1.2. Smart Dryers
5.3.1.3. Others
5.3.2. Water Treatment
5.3.2.1. Smart Filters
5.3.2.2. Smart Water Heaters
5.3.2.3. Smart Water Softeners
5.3.2.4. Water Filtration Systems
5.3.3. Kitchen
5.3.3.1. Smart Refrigeration
5.3.3.2. Smart Cooking
5.3.3.3. Cleaning
5.3.4. Other Appliance
5.4. Y-o-Y Growth Trend Analysis By Appliance Type, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Appliance Type, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Technology, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Technology, 2024 to 2034
6.3.1. Wi-Fi-Powered
6.3.2. NFC-Powered
6.3.3. Bluetooth-Powered
6.4. Y-o-Y Growth Trend Analysis By Technology, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Technology, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Appliance Type
8.2.3. By Technology
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Appliance Type
8.3.3. By Technology
8.4. Key Takeaways
9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Appliance Type
9.2.3. By Technology
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Appliance Type
9.3.3. By Technology
9.4. Key Takeaways
10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Appliance Type
10.2.3. By Technology
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Appliance Type
10.3.3. By Technology
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Appliance Type
11.2.3. By Technology
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Appliance Type
11.3.3. By Technology
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Appliance Type
12.2.3. By Technology
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Appliance Type
12.3.3. By Technology
12.4. Key Takeaways
13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Appliance Type
13.2.3. By Technology
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Appliance Type
13.3.3. By Technology
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Appliance Type
14.2.3. By Technology
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Appliance Type
14.3.3. By Technology
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2023
15.1.2.1. By Appliance Type
15.1.2.2. By Technology
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2023
15.2.2.1. By Appliance Type
15.2.2.2. By Technology
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2023
15.3.2.1. By Appliance Type
15.3.2.2. By Technology
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2023
15.4.2.1. By Appliance Type
15.4.2.2. By Technology
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2023
15.5.2.1. By Appliance Type
15.5.2.2. By Technology
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2023
15.6.2.1. By Appliance Type
15.6.2.2. By Technology
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2023
15.7.2.1. By Appliance Type
15.7.2.2. By Technology
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2023
15.8.2.1. By Appliance Type
15.8.2.2. By Technology
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2023
15.9.2.1. By Appliance Type
15.9.2.2. By Technology
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2023
15.10.2.1. By Appliance Type
15.10.2.2. By Technology
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2023
15.11.2.1. By Appliance Type
15.11.2.2. By Technology
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2023
15.12.2.1. By Appliance Type
15.12.2.2. By Technology
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2023
15.13.2.1. By Appliance Type
15.13.2.2. By Technology
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2023
15.14.2.1. By Appliance Type
15.14.2.2. By Technology
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2023
15.15.2.1. By Appliance Type
15.15.2.2. By Technology
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2023
15.16.2.1. By Appliance Type
15.16.2.2. By Technology
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2023
15.17.2.1. By Appliance Type
15.17.2.2. By Technology
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2023
15.18.2.1. By Appliance Type
15.18.2.2. By Technology
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2023
15.19.2.1. By Appliance Type
15.19.2.2. By Technology
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2023
15.20.2.1. By Appliance Type
15.20.2.2. By Technology
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2023
15.21.2.1. By Appliance Type
15.21.2.2. By Technology
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2023
15.22.2.1. By Appliance Type
15.22.2.2. By Technology
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2023
15.23.2.1. By Appliance Type
15.23.2.2. By Technology
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Appliance Type
16.3.3. By Technology
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Honeywell International Inc.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. ARRIS Group
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Comcast Corporation
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Robert Bosch GmbH
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Samsung Group
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Whirlpool Corporation
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. General Electric
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. LG
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Miele
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Hisense
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
17.1.11. Haier
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.11.5.2. Product Strategy
17.1.11.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
Explore Technology Insights
View Reports