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Smart Home Appliances Market by Product (Washing machine, Refrigerator, Dishwasher, Air conditioner) and Technology (Wi-Fi, Radio Frequency Identification (RFID), ZigBee, Cellular Technology, Bluetooth, Z Wave, Insteon, HomeRF, and EnOcean) - Global Opportunity Analysis and Industry Forecast, 2014 - 2020

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Pages: 100
Dec 2015 | 6587 Views
 
Author's : Nilesh Rajput
Tables: 30
Charts: 44
 

Smart Home Appliances Market Overview:

Smart Home Appliances Market is expected to reach $38.35 billion by 2020, registering a CAGR of 16.6% during the forecast period of 2015-2020. Smart home appliances are next generation conventional home appliances, equipped with advanced features for receiving, processing, and transmitting information using smartphones, tablets, and laptops. Increasing use of appliances in homes has led to higher energy consumption, thereby, posing challenges for power companies to produce more electricity. According to the U.S. Energy Information Administration, the global energy demand would increase by nearly 37% by 2035. In such a scenario, the adoption of smart home appliances would increase, as they facilitate real-time communication to operate the device at low frequencies or shift the operations time to off-peak periods. Thus, smart home appliances offer revolutionary control features to consumers as well as service providers along with enhanced convenience, security, and efficiency.

Smart home appliances market is expected to witness dynamic growth in future, due to the advancement in electronics and communication technologies. Factors such as increasing purchasing power and changing lifestyles of people have fostered the demand for smart home appliances, worldwide.

The key market players profiled in smart home appliances market are General Electric Company, Panasonic Corporation, Electrolux AB, LG Electronics, Inc., Samsung Electronics Co., Ltd., Koninklijke Philips N.V., Apple, Inc., Haier Electronics Group Co., Ltd., Miele & Cie. KG, BSH Hausgerate GmbH and Whirlpool Corporation. New product launch is the key strategy adopted by renowned market players to sustain the market competition. However, these players focus on raising awareness through trade shows, events, and other promotional activities.

Top factors impacting world smart home appliances market

 Top factors impacting world smart home appliances market

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Rising cost of energy

Increasing cost of electricity bills is a major concern for household consumers. For instance, according to a recent study by Hawaiian Electric, appliances, such as air conditioners, water heaters, refrigerators, lighting fixtures, and home entertainment systems consume enormous amount of electricity. The following graph illustrates the cost of energy consumed by these appliances in a family with four members.
These increased costs are driving the households towards energy saving options. In such a scenario smart home appliances, which can communicate among themselves, have emerged as effective solution. Thus, the households are adopting the smart home appliances to minimize the energy costs.

Technological advancements

Technological advancements in the wireless communication would facilitate remote operations of home appliances. For instance, smartphones and tablets are used for monitoring and controlling these appliances via Wi-Fi. In addition, Bluetooth technology facilitates data exchanges between two devices. Therefore, Bluetooth-enabled appliances can be controlled and monitored using smartphones. New technologies, such as ZigBee, have emerged as a feasible technology for monitoring smart home appliances.

Improving lifestyle of people

Increasing income level and changing lifestyle of people are expected to drive the market growth. Improving life style of consumers, especially in the urban areas supplemented with increasing disposable income have fostered the sale of smart home appliances. Nowadays, the adoption of smart home appliances has increased, owing to their convenience in managing and operating the appliances. This trend is expected to continue during the forecast period, thereby positively fueling the smart home appliances market growth.

Lack of awareness among consumers

The smart home appliances market is hampered due to lack of awareness about these products.  Lack of awareness regarding use of technologies and sophisticated appliances is the major factor hampering the market growth. However, industry players have adopted strategies, such as promotional campaigns and advertising programs, to promote these products. These factors would foster the growth of the smart home appliances market in future.

Top winning strategies

The key business strategies have been discussed based on the recent developments of the top companies operating in the smart homes appliances market. The key players have adopted product launch, partnerships, and acquisitions to expand their product portfolio and improve their market presence across various geographies.

Top winning strategies, 2012-2015

 

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Top investment pockets

This section highlights the potency of the market segments in terms of investment opportunities for stakeholders. The potency of the market segments is based on the present market condition as well as growth prospects during the forecast period. The following illustration demonstrates the potency of the market depending on the growth rate and market attractiveness.

The following graph illustrates the potential of various technologies deployed for managing smart home appliances. Nowadays, smart home appliances are connected with smartphones, tablets, and laptops using various technologies. Factors, such as power requirement and compatibility with various appliances, play a vital role in the adoption of a particular technology.

Top investment pockets of world smart home appliances market

 Top investment pockets of world smart home appliances market

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Segment Overview:

The world smart home appliances market is segmented into product type, technology, and geography. Based on product type, the market is segmented into washing machines, refrigerators, dishwashers, air conditioners, and others (small electrical appliances such as coffee machine, vacuum cleaners). Among the types of smart home appliances, smart washing machine generates the highest revenue in the market. Smart home appliances are operated using various technologies, such as Wi-Fi, Radio Frequency Identification (RFID), ZigBee, cellular technology, Bluetooth, and others. Wi-Fi, ZigBee, and Bluetooth are the most widely used technologies in the market and this trend is expected to continue during the forecast period. The growing penetration of Internet of Things (IoT) concept, worldwide, has led to widespread popularity of Wi-Fi technology.

The world smart home appliances market is analyzed based on regions, which include North America, Europe, Asia-Pacific and Latin America, Middle East and Africa (LAMEA) regions. Asia-Pacific region is expected to dominate the global market due to high demand of these appliances in China, India, and Japan among others.

Market Segmentation

 

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World Smart Home Appliances Market by Technology

Rapid developments in Information Technology and topology of wireless communication are the major factors boosting the integration of home appliances with mobile devices such as laptops, smartphones, and tablets. Wireless communication plays a significant role in monitoring and controlling home appliances from remote locations, to reduce electricity consumption.
Wi-Fi technology is mostly used in homes and commercial establishments as an alternative to wired LAN. Presently, this technology has emerged as an effective technology to operate a large number of home appliances from remote locations.

LG Electronics Wi-Fi-enabled refrigerator and washing machine alerts consumers about minor issues to reduce maintenance cost. Whirlpool, one of the leading players in manufacturing consumer electronics devices, launched Wi-Fi enabled devices that can be managed using apps.

Key Benefits

  • This study highlights the current scenario of the world smart home appliances market along with its scope to identify the ongoing trends in the market.
  • Porter’s Five Force Analysis highlights the potency of the suppliers and buyers along with a competitive scenario of the market, which would facilitate efficient strategic planning.
  • The drivers and opportunities have been analyzed to identify the current factors, which are responsible for the growth of the market as well as the upcoming technologies that are expected to foster the market growth in future.
  • The value chain analysis of the industry highlights the key intermediaries involved and elaborates their roles and value additions at every stage in the value chain.
  • Quantitative analysis of the current market trends and estimations for the period of 2014‐2020 are provided to determine the financial appetency of the market.

SMART HOME APPLIANCES MARKET SEGMENT

The world smart home appliances market is segmented as:

Market by Product

  • Washing machine
  • Refrigerator
  • Dishwasher
  • Air conditioner
  • Others

Market by Technology

  • Wi-Fi
  • Radio Frequency Identification (RFID)
  • ZigBee
  • Cellular Technology
  • Bluetooth
  • Others (Z Wave, Insteon, HomeRF, and EnOcean)

Market by Geography

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA
 

Table of Contents

Chapter: 1 INTRODUCTION

1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1 CXO Perspective

Chapter: 3 MARKET OVERVIEW

3.1 Market definition and scope
3.2 Key findings

3.2.1 Top impacting factors
3.2.2 Top investment pockets
3.2.3 Top winning strategies

3.3 Porters Five forces analysis

3.3.1 Low product awareness and price sensitivity of the buyers keeps bargaining power of the supplier at moderate level
3.3.2 Plenty of suppliers of smart home appliances with nearly same featured products keeps the bargaining power at moderate level
3.3.3 Well established market for conventional home appliances increases the threat of substitutes
3.3.4 Equal sized competitors increase the rivalry in the market
3.3.5 High initial investment and presence of well-known brands in the market lowers the threat of new entrants

3.4 Value chain analysis
3.5 Market share analysis, 2014
3.6 Market dynamics

3.6.1 Drivers

3.6.1.1 Rising energy cost
3.6.1.2 Technological advancements
3.6.1.3 Improving lifestyle of people

3.6.2 Restraints

3.6.2.1 Lack of awareness among the populace
3.6.2.2 Regional imbalance in technological exposure

3.6.3 Opportunities

3.6.3.1 Improving internet penetration

Chapter: 4 WORLD SMART HOME APPLIANCES MARKET BY PRODUCT TYPE

4.1 Introduction

4.1.1 Market size and forecast

4.2 Washing machine

4.2.1 Key market trends
4.2.2 Competitive scenario
4.2.3 Key growth factors and opportunities
4.2.4 Market size and forecast

4.3 Refrigerator

4.3.1 Key market trends
4.3.2 Competitive scenario
4.3.3 Key growth factors and opportunities
4.3.4 Market size and forecast

4.4 Dishwasher

4.4.1 Key market trends
4.4.2 Competitive scenario
4.4.3 Key growth factors and opportunities
4.4.4 Market size and forecast

4.5 Air conditioner

4.5.1 Key market trends
4.5.2 Competitive scenario
4.5.3 Key growth factors and opportunities
4.5.4 Market size and forecast

4.6 Others

4.6.1 Key market trends
4.6.2 Competitive scenario
4.6.3 Key growth factors and opportunities
4.6.4 Market size and forecast

Chapter: 5 WORLD SMART HOME APPLIANCES MARKET BY TECHNOLOGY

5.1 Introduction

5.1.1 Market size and forecast

5.2 Wi-Fi

5.2.1 Key growth factors and opportunities
5.2.2 Market size and forecast

5.3 Radio Frequency Identification (RFID)

5.3.1 Key growth factors and opportunities
5.3.2 Market size and forecast

5.4 Cellular technology

5.4.1 Key growth factors and opportunities
5.4.2 Market size and forecast

5.5 ZigBee

5.5.1 Key growth factors and opportunities
5.5.2 Market size and forecast

5.6 Bluetooth

5.6.1 Key growth factors and opportunities
5.6.2 Market size and forecast

5.7 Others

5.7.1 Key growth factors and opportunities
5.7.2 Market size and forecast

Chapter: 6 WORLD SMART HOME APPLIANCES MARKET BY GEOGRAPHY

6.1 Introduction

6.1.1 market size and forecast

6.2 North America

6.2.1 Key market trends
6.2.2 Competitive scenario
6.2.3 Key growth factors and opportunities
6.2.4 Market size and forecast

6.3 Europe

6.3.1 Key market trends
6.3.2 Competitive scenario
6.3.3 Key growth factors and opportunities
6.3.4 Market size and forecast

6.4 Asia Pacific

6.4.1 Key market trends
6.4.2 Competitive scenario
6.4.3 Key growth factors and opportunities
6.4.4 Market size and forecast

6.5 LAMEA (Latin America, Middle East and Africa)

6.5.1 Key market trends
6.5.2 Competitive scenario
6.5.3 Key growth factors and opportunities
6.5.4 Market size and forecast

Chapter: 7 COMPANY PROFILES

7.1 General Electric Company

7.1.1 Company overview
7.1.2 Company snapshot
7.1.3 Business performance
7.1.4 Strategic moves and developments
7.1.5 SWOT analysis of GE Company

7.2 Panasonic Corporation

7.2.1 Company overview
7.2.2 Company snapshot
7.2.3 Business performance
7.2.4 Strategic moves and developments
7.2.5 SWOT analysis of Panasonic Corporation

7.3 Electrolux AB

7.3.1 Company overview
7.3.2 Company snapshot
7.3.3 Business performance
7.3.4 Strategic moves and developments
7.3.5 SWOT analysis of Electrolux AB

7.4 LG Electronics Inc.

7.4.1 Company overview
7.4.2 Company snapshot
7.4.3 Business performance
7.4.4 Strategic moves and developments
7.4.5 SWOT analysis of LG Electronics Inc.

7.5 Samsung Electronics Co., Ltd.

7.5.1 Company overview
7.5.2 Company snapshot
7.5.3 Business performance
7.5.4 Strategic moves and developments
7.5.5 SWOT analysis of Samsung Electronics Co., Ltd.

7.6 Koninklijke Philips N.V.

7.6.1 Company overview
7.6.2 Company snapshot
7.6.3 Business performance
7.6.4 Strategic moves and developments
7.6.5 SWOT analysis of Koninklijke Philips N.V.

7.7 Apple Inc.

7.7.1 Company overview
7.7.2 Company snapshot
7.7.3 Business performance
7.7.4 Strategic moves and developments
7.7.5 SWOT analysis of Apple Inc.

7.8 Haier Electronics Group Co., Ltd.

7.8.1 Company overview
7.8.2 Company snapshot
7.8.3 Business performance
7.8.4 Strategic moves and developments
7.8.5 SWOT analysis of Haier Electronics Group Co., Ltd.

7.9 Miele & Cie. KG

7.9.1 Company overview
7.9.2 Company snapshot
7.9.3 Business performance
7.9.4 Strategic moves and developments
7.9.5 SWOT analysis of Miele & Cie. KG

7.10 BSH Hausgerate GmbH

7.10.1 Company overview
7.10.2 Company snapshot
7.10.3 Business performance
7.10.4 Strategic moves and developments
7.10.5 SWOT analysis of BSH Hausgerate GmbH

7.11 Whirlpool Corporation

7.11.1 Company overview
7.11.2 Company snapshot
7.11.3 Business performance
7.11.4 Strategic moves and developments
7.11.5 SWOT analysis of Whirlpool Corp.

List of Tables

TABLE 1 WORLD SMART HOME APPLIANCES MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 2 WORLD SMART HOME APPLIANCES MARKET BY PRODUCT TYPE, 2014-2020 ($MILLION)
TABLE 3 WORLD SMART WASHING MACHINE MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 4 WORLD SMART REFRIGERATOR MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 5 WORLD SMART DISHWASHER MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 6 WORLD SMART AIR CONDITIONER MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 7 WORLD OTHER SMART HOME APPLIANCES MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 8 WORLD SMART HOME MARKET BY TECHNOLOGY, 2014-2020 ($MILLION)
TABLE 9 WORLD SMART HOME APPLIANCES WI-FI TECHNOLOGY MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 10 WORLD SMART HOME APPLIANCES RFID TECHNOLOGY MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 11 WORLD SMART HOME APPLIANCES CELLULAR TECHNOLOGY MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 12 WORLD SMART HOME APPLIANCES ZIGBEE TECHNOLOGY MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 13 WORLD SMART HOME APPLIANCES BLUETOOTH APPLIANCES MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 14 WORLD SMART HOME APPLIANCES OTHER TECHNOLOGIES MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 15 NORTH AMERICAN SMART HOME APPLIANCES MARKET BY TECHNOLOGY, 2014-2020 ($MILLION)
TABLE 16 EUROPEAN SMART HOME APPLIANCES MARKET BY TECHNOLOGY, 2014-2020 ($MILLION)
TABLE 17 ASIA PACIFIC SMART HOME APPLIANCES MARKET BY TECHNOLOGY, 2014-2020 ($MILLION)
TABLE 18 LAMEA SMART HOME APPLIANCES MARKET BY TECHNOLOGY, 2014-2020 ($MILLION)
TABLE 19 SNAPSHOT OF GE COMPANY
TABLE 20 SNAPSHOT OF PANASONIC CORPORATION
TABLE 21 SNAPSHOT OF ELECTROLUX AB
TABLE 22 SNAPSHOT OF LG ELECTRONICS INC.
TABLE 23 SNAPSHOT OF SAMSUNG ELECTRONICS CO., LTD.
TABLE 24 SNAPSHOT OF KONINKLIJKE PHILIPS N.V.
TABLE 25 SNAPSHOT OF APPLE INC.
TABLE 26 SNAPSHOT OF HAIER ELECTRONICS GROUP CO., LTD.
TABLE 27 SNAPSHOT OF MIELE & CIE. KG
TABLE 28 SNAPSHOT OF BSH HAUSGERATE GMBH
TABLE 29 SNAPSHOT OF WHIRLPOOL CORP.

List of Figures

FIG. 1 TOP IMPACTING FACTORS
FIG. 2 TOP INVESTMENT POCKETS
FIG. 3 TOP WINNING STRATEGIES
FIG. 4 PORTERS FIVE FORCES ANALYSIS
FIG. 5 VALUE CHAIN ANALYSIS
FIG. 6 MARKET SHARE ANALYSIS, 2014
FIG. 7 REVENUE OF GE COMPANY, 2012-2014, $MILLION
FIG. 8 REVENUE OF GE COMPANY, BY BUSINESS SEGMENT (%), 2014
FIG. 9 REVENUE OF GE COMPANY, BY GEOGRAPHY (%), 2014
FIG. 10 SWOT ANALYSIS OF GE COMPANY
FIG. 11 REVENUE OF PANASONIC CORPORATION, 2013-2015, $MILLION
FIG. 12 REVENUE OF PANASONIC CORPORATION, BY BUSINESS SEGMENT (%), 2015
FIG. 13 REVENUE OF PANASONIC CORPORATION, BY GEOGRAPHY (%), 2015
FIG. 14 SWOT ANALYSIS OF PANASONIC CORPORATION
FIG. 15 NET SALES OF ELECTROLUX AB, 2012-2014, $MILLION
FIG. 16 NET SALES OF ELECTROLUX AB, BY BUSINESS SEGMENT (%), 2014
FIG. 17 NET SALES OF ELECTROLUX AB, BY GEOGRAPHY (%), 2014
FIG. 18 SWOT ANALYSIS OF ELECTROLUX AB
FIG. 19 NET SALES OF LG ELECTRONICS INC., 2012-2014, $MILLION
FIG. 20 NET SALES OF LG ELECTRONICS INC., BY BUSINESS SEGMENT (%), 2014
FIG. 21 NET SALES OF LG ELECTRONICS INC., BY GEOGRAPHY (%), 2014
FIG. 22 SWOT ANALYSIS OF LG ELECTRONICS INC.
FIG. 23 REVENUE OF SAMSUNG ELECTRONICS CO., LTD., 2012-2014, $MILLION
FIG. 24 REVENUE OF SAMSUNG ELECTRONICS CO., LTD., BY BUSINESS SEGMENT (%), 2014
FIG. 25 REVENUE OF SAMSUNG ELECTRONICS CO., LTD., BY GEOGRAPHY (%), 2014
FIG. 26 SWOT ANALYSIS OF SAMSUNG ELECTRONICS CO., LTD.
FIG. 27 SALES OF KONINKLIJKE PHILIPS N.V., 2012-2014, $MILLION
FIG. 28 SALES OF KONINKLIJKE PHILIPS N.V., BY BUSINESS SEGMENT (%), 2014
FIG. 29 SALES OF KONINKLIJKE PHILIPS N.V., BY GEOGRAPHY (%), 2014
FIG. 30 SWOT ANALYSIS OF KONINKLIJKE PHILIPS N.V.
FIG. 31 NET SALES OF APPLE INC., 20122014, $MILLION
FIG. 32 NET SALES OF APPLE INC., BY BUSINESS SEGMENT (%), 2014
FIG. 33 NET SALES OF APPLE INC., BY GEOGRAPHY (%), 2014
FIG. 34 SWOT ANALYSIS OF APPLE INC.
FIG. 35 REVENUE OF HAIER ELECTRONICS GROUP CO., LTD., 2011-2013, $MILLION
FIG. 36 REVENUE OF HAIER ELECTRONICS GROUP CO., LTD., BY BUSINESS SEGMENT (%), 2013
FIG. 37 SWOT ANALYSIS OF HAIER ELECTRONICS GROUP CO., LTD.
FIG. 38 TURNOVER OF MIELE & CIE. KG, 2013-2015, $MILLION
FIG. 39 SWOT ANALYSIS OF MIELE & CIE. KG
FIG. 40 REVENUE OF BSH HAUSGERATE GMBH, 2012-2014, $MILLION
FIG. 41 REVENUE OF BSH HAUSGERATE GMBH, BY GEOGRAPHY (%), 2014
FIG. 42 SWOT ANALYSIS OF BSH HAUSGERATE GMBH
FIG. 43 REVENUE OF WHIRLPOOL CORP., 2012-2014, $MILLION
FIG. 44 SWOT ANALYSIS OF WHIRLPOOL CORP.

 

Although smart home appliances were introduced almost a decade ago, smart home appliances market picked pace only in the last 4-5 years and is presently exhibiting a sizeable growth. Factors such as increased compatibility of the appliances, enhanced internet penetration, evolving lifestyle patterns and growing concerns about energy prices, have fostered the increasing sales of smart home appliances. North American region is leading the global market due to the early adoption of these appliances, resulting in large market base. However, Asia Pacific region is expected to exhibit remarkable growth, driven by the emerging markets of countries such as India & China.

Wi-Fi technology is one of the most frequently used technologies owing to its long range operation capabilities. Besides Wi-Fi, technologies such as ZigBee, Bluetooth and RFID are used on account of their lower operation costs and lesser power requirements. Increasing demand for appliances such as smart air-conditioners, smart refrigerators, smart washing machines, smart dishwashers and others smart home appliances would boost the market for smart home appliance products. Market participants have introduced innovative smart appliances as well as novel apps in the recent past, in an effort to enhance the overall customer satisfaction. For instance, players such as LG Electronics, Haier, Samsung and Panasonic Corp. among others have introduced several new appliances at the recently held trade show in Berlin in September 2015. Followed by product launch, these players are concentrating on acquiring smaller industry players to gain a competitive edge. Additionally, these players are consolidating their efforts to spread awareness through aggressive advertising and promotional activities.

 

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